In the first quarter of 2017, Deutsche Rohstoff Group generated sales in the amount of EUR 20.9 million and more than doubled its sales compared to the full year 2016 (2016: 9.2 Mio. EUR). Earnings before interest, taxes, depreciation and amortization amounted to EUR 17.2 million (1st quarter of 2016: EUR -2.9 million) which is three times as high as for the full year 2016 (2016: 6.4 Mio. EUR). Even the group's profit of [...]
Hammer Metals, of which Deutsche Rohstoff owns 17.84%, announced yesterday, that it has entered into a binding term sheet to form a Joint Venture with Global Energy Metals to jointly develop the Millennium cobalt tenement. Hammer had acquired the licenses in May 2016 for a total of approximately 85,000 AUD in cash and shares, drilled 23 holes and subsequently published a JORC compliant maiden resource in December 2016 [...]
Salt Creek Oil & Gas, 90% subsidiary of Deutsche Rohstoff, reported revenues of USD 2.0 million and an EBITDA of USD 1.4 million from its producing wells in North Dakota in the first quarter of 2017. Production figures were more than 20% above the company's acquisition forecast and amounted to approx. 700 barrel of oil equivalent per day (boepd). For the full year 2017, Salt Creek therefore expects a higher revenue and [...]
Deutsche Rohstoff receives 1.5 million new Almonty shares and agrees to the extension of an existing convertible bond Mannheim/Toronto. Deutsche Rohstoff and Almonty Industries agreed to extend an existing convertible bond in the principal amount of CAD 6,000,000 in favor of Deutsche Rohstoff by two years to March 2019. The bond was issued to Deutsche Rohstoff in September 2014 as part of the consideration for the sale of [...]
Deutsche Rohstoff: Cub Creek commences with new drilling Mannheim/Denver. Cub Creek Energy commenced the drilling of horizontal wells from its Hailey pad in the DJ Basin. Drilling will continue through the end of May and with well completions thereafter. Start of production is planned for the third quarter. Mannheim, 27 March 2017 Deutsche Rohstoff identifies, develops and divests attractive resource projects in North [...]
The three oil and gas producing subsidiaries of Deutsche Rohstoff in the US have on average currently hedged approximately 75% of their production until the end of 2017. In most cases so-called "costless collars" were put in place. Costless collars are derivatives that define a floor and a ceiling. The floor currently sits slightly above USD 47 per barrel whereas the ceiling is fixed just over USD 58 per barrel. The [...]
Cub Creek Energy (CCE) published today that its two pads in the DJ basin continued to deliver excellent results in February. Both pads combined produced 8,223 gross barrel of oil equivalent per day (boepd; 6,358 barrel of oil) during the month compared to 7,752 gross boepd (6,438 gross barrel of oil) in January 2017. Cub Creek's overall production reached 230,244 gross boe (179,620 gross barrel of oil) in February 2017 [...]
Almonty Industries has announced today that it entered into a fixed price contract for the majority of the production at its Los Santos mine in Spain. The net price to be received under the contract is USD 192.50 per MTU of contained tungsten, equating to an effective APT price of USD 240 per MTU, which is 20% above current spot price. This contract is effective for all material shipped after February 1, 2017. Almonty [...]
Almonty Industries today announces that it issued a second USD 1 million promissory note to Deutsche Rohstoff. The note carries an interest rate of 6% and is due 1 January 2019. Interest is payable on a half-yearly basis in cash or shares at the option of Almonty. The secured loan will be paid out in two tranches in January and March 2017. Furthermore, Deutsche Rohstoff and Almonty agreed to extend the maturity of the [...]
Cub Creek Energy (CCE) plans to drill an additional 31 one-mile lateral wells in 2017. The board of the company approved the respective budget. An initial 9 well drilling pad in the DJ Basin will spud by mid-March and will be completed during the 2nd quarter. Another 22 well pads will commence drilling in May and be completed during the 4th quarter. Net investment of CCE is planned to amount to approximately USD 60 [...]
Deutsche Rohstoff: Vail Pad with increasing production Markham Pad commences flowback/More bonds placed Mannheim/Denver. Cub Creek Energy (CCE) produced an average of 4,501 BOEPD (barrel oil equivalent per day) (3,875 BOPD- barrels of oil per day) from its Vail pad over the last 14 days. This means that production was 26 % percent higher than reported on 16 December with respect to BOPD and 49 % above performance [...]
Salt Creek Energy, a 90% subsidiary of Deutsche Rohstoff, closed the transaction to acquire oil- and gas production in North Dakota that was announced on November 22nd today. The purchase price amounts to USD 38.1 million, effective date of the transaction is September 1st. As part of the financing, Salt Creek agreed on a reserved based lending facility with its lender, BOK Financial. It allows the company to borrow up to [...]
