DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Oil- and Gas Reserves of US subsidiaries increased

28.02.2019 / 11:40
The issuer is solely responsible for the content of this announcement.


Deutsche Rohstoff AG: Oil- and Gas Reserves of US subsidiaries increased

Mannheim/Denver. The proved reserves of the US subsidiaries of Deutsche Rohstoff AG rose to 29.4 million barrels of oil equivalent (BOE) as of 31 December 2018 (previous year: 17.5 million BOE), while the probable reserves declined to 3.4 million BOE (previous year: 7 million BOE). The present value of the reserves (future cash flow discounted at 10%, so-called PV 10) amounted to USD 177 million as of 31 December 2018 (previous year: USD 169 million) for the proved reserves and USD 9 million (previous year: USD 28 million) for the probable reserves.

The value of the reserves has risen less sharply than the volume of reserves. The value calculation is based on the average oil price of the NYMEX forward curve over the next 10 years. On 31 December 2018 it was only 51.44 USD/barrel. On the basis of the forward curve of 26 February 2019, however, the total value of the reserves is around USD 204 million.

The figures as of December 31, 2018 also include the reserves of the subsidiaries Salt Creek Oil & Gas and Bright Rock Energy, which was founded in mid-2018. These two subsidiaries together have proved reserves of 2.3 million BOE and probable reserves of 3.4 million BOE. The PV10 of the proved reserves amounted to USD 8 million and the value of the probable reserves to USD 8.9 million.

Both companies continue to grow in 2019. Last week, Salt Creek announced the purchase of royalties for USD 5.4 million. The reserves acquired through this purchase are not part of the reserve calculation as at 31 December 2018.

A detailed table of the reserves will be available shortly on the website of Deutsche Rohstoff AG.

Mannheim, 28 February 2019

Deutsche Rohstoff identifies, develops and divests attractive resource projects in North America, Australia and Europe. The focus is on the development of oil and gas opportunities within the United States. Metals, such as gold, copper, rare earth elements, tungsten and tin complete our portfolio. For more information please visit www.rohstoff.de.

Contact

Deutsche Rohstoff AG
Dr. Thomas Gutschlag
Tel. +49 621 490817 0
info@rohstoff.de



28.02.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange

 
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782283  28.02.2019 

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