Deutsche Rohstoffhas placed further bonds with a total volume of approximately EUR 8 million to institutional investors. A total of EUR 67 million out of EUR 75 million that were initially projected are now issued. ICF BANK AG supported Deutsche Rohstoff with the placement. The company intends to use the proceeds for further oil and gas wells in the US, in particular for its subsidiary Elster Oil & Gas. Elster Oil & Gas [...]
Cub Creek Energy (CCE) reported today, that the 7 combined wells drilled on the company's Haley pad have produced an initial 30-day average rate of 2,404 barrels of oil equivalent per day (boepd). The initial 30-day average oil rates are 1,920 barrels of oil per day (bopd). CCE expects further increases in production rates over the coming weeks as production continues to stabilize. The company completed the 7 wells in the [...]
Deutsche Rohstoff AG: Half Year results meet expectations Half-year report online/Strong increase in producing wells Mannheim. In the first half of the year, Deutsche Rohstoff Group generated group sales in the amount of EUR 32.1 million and earnings before depreciation, interest and taxes (EBITDA) of EUR 23.5 million (all figures according to German GAAP and unaudited) as already reported on 14 August with the [...]
Cub Creek Energy has started producing oil and gas from its Haley Pad. Seven horizontal wells were drilled in April and May and completed from July to September. Cub Creek's working interest in these wells is 78 %. The company will report the results of the first 30 days of production in the second half of October. Drilling of 16 horizontal well at the company's Litzenberger Pad was completed on 10 September 2017. Cub [...]
Deutsche Rohstoff: Preliminary half-year figures released Over 1 million barrels of oil equivalent/EUR 23.5 million EBITDA Mannheim. Deutsche Rohstoff Group generated sales of EUR 32.1 million in the first half-year of 2017 (second quarter: EUR 11.2 million). Earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to EUR 23.5 million (second quarter: EUR 6.3 million). The group's profit remains [...]
Almonty Industries announced today that it has entered into a subscription agreement for USD 5 million (CAD 6.325 million) at a price of CAD 0.30 per share. Only subscriber will be the CEO of the company, Mr Lewis Black. He will receive approximately 21 million shares, which equals to 13.4 % of the share capital. The subscription price includes a premium of 33 % to the closing price as at 10 August 2017. The price for [...]
Deutsche Rohstoff: Elster Oil & Gas participates in large scale drilling program Tax refund received/Placement of additional bonds Mannheim. Elster Oil & Gas, a 93% subsidiary of Deutsche Rohstoff, will participate in additional horizontal wells in the so-called Magpie area. The operator of the area gave notice that 20 wells will be drilled from two pads. Drilling activity has already commenced. All wells will be extended [...]
Deutsche Rohstoff announced today that is has signed a non-binding Term Sheet with the Brazilian company Copebrás Indústria Ltda. The Term Sheet outlines the future development of the extraction of Rare Earth Elements from phosphogypsum. Essential elements of the Term Sheet include the conduct of beneficiation test work and the preparation of an early stage economic feasibility study. Copebrás is the [...]
Cub Creek Energy signed a credit agreement with a leading US energy lender that enables the company to draw up to USD 25 million to fund its ongoing drilling program. The lender charges a flexible interest rate that currently aggregates to approximately 4% per annum. The facility will be redetermined from time to time based on the value of the company's oil and gas reserves. Cub Creek is currently preparing to complete [...]
Cub Creek starts further drilling Mannheim/Denver. Cub Creek Energy completed drilling of seven wells from the Hailey pad in mid-May and in the meantime commenced further drilling from the Litzenberger pad. Currently, 16 horizontal wells out of 21 possible are planned for the Litzenberger pad. The wells at the Hailey pad will be completed in the coming weeks and are expected to start production in the third quarter of [...]
Tin International AG, 61.5% owned by Deutsche Rohstoff, announced today that it has signed the Joint Venture Agreement with Lithium Australia. The company is listed on the Australian Stock Exchange (ASX: LIT) and develops a processing technology that allows the economic extraction of lithium from lithium-bearing mica ore (so-called Sileach(TM) technology). Lithium Australia also holds a global portfolio of Lithium [...]
Creditreform rating agency informed Deutsche Rohstoff that it assigned a BB-rating (previous: BB+) as a result of the annual rating review. The outlook is stable. The rating summary is available on Deutsche Rohstoff's website under www.rohstoff.de/investor-relations (only in German). Mannheim, 24 May 2017 Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and [...]
