DGAP-News: Deutsche Rohstoff AG: Tekton Energy reports strong results from new production

DGAP-News: Deutsche Rohstoff AG: Tekton Energy reports strong results from new 
production

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Tekton Energy reports strong results from new
production

15.01.2014 / 08:33

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Deutsche Rohstoff: Tekton Energy reports strong results from new production
2.500 Barrels of Oil Equivalent per day during first 30 days / Production
rates above expectations

Heidelberg/Denver. Tekton Energy reported today that five new horizontal
wells have initially produced an average of combined 2.500 Barrels of Oil
Equivalent (BOE) per day during the first 30 days of production. The wells
were drilled from Tekton's Pavistma drill pad in September/October 2013.
They are part of a co-operation with Anadarko Petroleum. Both partners own
roughly half of the production.

Three of the five new wells tested the Niobrara formation. Results from the
initial production is in accordance with Tekton's type curve which suggests
an Estimated Ultimate Recovery (EUR) of 325.000 BOE per well. Two of the
wells were drilled in the Codell formation and produced significantly above
the Codell type curve, as was the case with the two wells drilled from the
Rancho pad in spring 2013. Drilling cost of the wells were once again below
the budgeted figures.

Jerry Sommer, CEO of Tekton Energy, commented: 'We are very pleased to see
that Codell wells deliver very strong results and also that the Niobrara
wells came in in line with expectations. We continue to confirm our science
in the DJ Basin.'

Another five new wells, three drilled from the Frye Farms pad and two more
wells with extended reach drilled from the Pavistma pad have completed the
drilling phase. Final completion and facility construction is ongoing and
production from all five wells will commence within the next few weeks.

Meanwhile, drilling activity continues with both rigs at two different
drill pads. A total of eight additional horizontal wells are currently
being drilled. Given the ongoing high level of activity and the
consistently excellent well results, Deutsche Rohstoff intends to report
about drilling results on a quarterly basis instead of a well by well basis
through 2014.

Heidelberg, 15 January 2014

Deutsche Rohstoff (Heidelberg, Germany), listed in the Entry Standard
segment of Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on oil & gas and so called high
tech metals such as tin, tungsten, and rare earth metals. All projects are
located in political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.

Contact:

Deutsche Rohstoff AG
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de


End of Corporate News

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Language:    English                                                     
Company:     Deutsche Rohstoff AG                                        
             Friedrich-Ebert-Anlage 24                                   
             69117 Heidelberg                                            
             Germany                                                     
Phone:       06221-87100-11                                              
Fax:         06221-87100-22                                              
E-mail:      gutschlag@rohstoff.de                                       
Internet:    www.rohstoff.de                                             
ISIN:        DE000A0XYG76, DE000A1R07G4,                                 
WKN:         A0XYG7, A1R07G                                              
Indices:     Entry Standard (Performance TOP 30)                         
Listed:      Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in  
             Open Market (Entry Standard)                                
 
 
End of News    DGAP News-Service  
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