Deutsche Rohstoff AG: Vail Pad with increasing production
Markham Pad commences flowback/More bonds placedMannheim/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 projections. Line pressure has been lower, most of the days CCE was therefore able to produce the nine wells at full capacity. The recent 30 day average of the pad amounts to 4,009 boepd (oil: 3,448 bopd).
In the meantime CCE has commenced flowback from its Markham pad. Over the next few days all 12 wells will come online. CCE will report the production rates of the first month of production in February 2017.
Deutsche Rohstoff AG has placed an additional nominal value of EUR 10.1 million of its bond 2016/2021 (ISIN DE000A2AA055). An amount of EUR 50.7 million is now outstanding. There are no plans to further increase the volume. Deutsche Rohstoff was supported by ICF Bank AG in this transaction.
Mannheim, 29 December 2016
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
Thomas Gutschlag
Tel. +49 6221 871 000
info@rohstoff.de