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DEUTSCHE ROHSTOFF AG (FRA:DR0) Deutsche Rohstoff AG: Cub Creek Energy signs Purchase and Sale Agreement for Wyoming assets

Directive transparence : information réglementée

03/09/2021 09:49

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Cub Creek Energy signs Purchase and Sale Agreement for Wyoming assets

03.09.2021 / 09:49
The issuer is solely responsible for the content of this announcement.


Deutsche Rohstoff AG: Cub Creek Energy signs Purchase and Sale Agreement for Wyoming assets
30,000 net acres/804 BOE daily production

Mannheim/Denver. Cub Creek Energy has signed a purchase agreement covering approximately 30,000 net leasehold acres (121 square kilometers) located in Wyoming/USA. In addition to the acres, the purchase agreement includes working interest in 17 producing wells with approximately 804 BOE of net daily production (as of August 2021).

Cub Creek will carry out the usual due diligence of the properties in the coming weeks, with the transaction expected to close in October of 2021. The negotiated purchase price for the properties was based on the discounted value of existing production.

Thomas Gutschlag, CEO of Deutsche Rohstoff AG, commented: "With this acquisition, Cub Creek Energy buys profitable production and opens up a large potential for long term development drilling. Together with Bright Rock Energy's acreage, we will hold nearly 60,000 acres in Wyoming/USA. At today's oil prices, there is additional growth potential for both companies for many years to come."

Mannheim, 3 September 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



03.09.2021 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.
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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
EQS News ID: 1231049

 
End of News DGAP News Service

1231049  03.09.2021 

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