DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous Deutsche Rohstoff AG: Utah Development Update 2021-08-30 / 09:00 The issuer is solely responsible for the content of this announcement.

-----------------------------------------------------------------------------------------------------------------------

Deutsche Rohstoff AG: Utah Development Update Ramp up to 1.500 BOPED in early 2022/Strong performance of recently drilled wells

Mannheim/Denver. Drilling and development activity on Bright Rock Energy's Utah acreage will significantly accelerate over the course of 2021. In the second half of 2021 Bright Rock will in total invest 15.6 million USD in drilling and development capital. In total, the company will therefore invest 18 million in 2021 across 32 wells with an average working interest of 7.1%. As wells are completed through the end of 2021, Bright Rock is expected to produce 1.500 BOEPD, about a fourfold of the current production, from its Utah wells in the first quarter 2022.

Recent results in the basin compete with the best U.S. shale oil fields. It is also noteworthy that the wells target five different stacked zones, all of which are proven by nearby wells. Bright Rock calculates an rate of return (IRR) for the wells it is participating in between 35 to 75% at a flat USD 55 oil price. Pay back of invested funds is expected in a period of 1 to 2 years. The wells demonstrate the enormous potential of the Uinta-Basin.

The reason for this significant uptick in development capital is primarily the general activity level in the basin and the fact that operators have started to move towards tighter spacing of wells in single drilling units. Through participation in a series of drilling programs, acquisition of additional acreage and two recently concluded transactions with other basin players, Bright Rock has managed to create the basis for significantly higher production volumes going forward.

Mannheim, 30 August 2021

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as gold and tungsten complete the portfolio. Further information can be found at www.rohstoff.de

Contact Deutsche Rohstoff AG Dr. Thomas Gutschlag, CEO Phone +49 621 490 817 0 info@rohstoff.de

-----------------------------------------------------------------------------------------------------------------------

2021-08-30 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

----------------------------------------------------------------------------------------------------------------------- 


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 
EQS News ID:  1229590 
 
End of News   DGAP News Service 
=------------

1229590 2021-08-30

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1229590&application_name=news

(END) Dow Jones Newswires

August 30, 2021 03:00 ET (07:00 GMT)