Corporate | 7 May 2012 12:00
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Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Tekton Energy reports about first month of production
Denver/Heidelberg. Tekton Energy reported today about its first month of production of oil and gas in its Windsor project, part of the Wattenberg field in Colorado. Three wells drilled in early February from the Rancho pad were connected to the existing infrastructure during February and March and commenced production on April 7 th 2012. During the month of April, the three wells produced an average of 61 barrels of oil equivalent per day (BOEPD) per well, which is significantly better than predicted. Of the 61 BOEPD, oil and NGL accounted for 91% of production revenue with the remaining 9% consisting of natural gas. Three more wells, drilled from the Pavistma pad in the second half of February, will commence production in the next two weeks. Drilling from Tekton's Frye Farm pad for another three vertical wells will start in the first half of May. By mid-year, ten net holes shall be drilled from different drill sites and brought to production. By then, an independent expert's reserve calculation will be available. In addition to the currently executed vertical drilling campaign, Tekton is preparing a horizontal drilling program. Heidelberg, 07 May 2012 Deutsche Rohstoff AG (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 gold, oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in countries marked by political stability, the core area being Germany. 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: Thomas Gutschlag gutschlag@rohstoff.de +49 6221 871 000 End of Corporate News 07.05.2012 Dissemination of a Corporate News, transmitted by DGAP – a company of EquityStory AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
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