Brief: Deutsche Rohstoff Announces Increase In Oil And Gas Reserves

Deutsche Rohstoff AG

09/03/2022 07:57

March 9 (Reuters) - DEUTSCHE ROHSTOFF AG  DR0G.DE :
    * STRONG INCREASE IN OIL AND GAS RESERVES
    * DOUBLING OF RESERVES TO 49 MILLION BOE/CURRENT VALUE OF
PROVEN
RESERVES RISES TO MORE THAN USD 500 MILLION
    * BASED ON FORWARD CURVE OF 4 MARCH 2022, PRESENT VALUE OF
PROVEN
AND PROBABLE RESERVES OF US SUBSIDIARIES OF DEUTSCHE ROHSTOFF AG
(FUTURE CASH FLOW DISCOUNTED AT 10%, SO-CALLED PV 10) AMOUNTS TO
USD 639.9 MILLION, OF WHICH PROVEN RESERVES ACCOUNTED FOR USD
503.8 MILLION AND PROBABLE RESERVES FOR USD 136.1 MILLION
    * PROVEN RESERVES WERE CALCULATED AT 29.2 MILLION BARRELS OF
OIL
EQUIVALENT (BOE) AT YEAR-END (PREVIOUS YEAR: 20.4 MILLION BOE),
WHILE PROBABLE RESERVES WERE CALCULATED AT 19.4 MILLION BOE
    * BASED ON 31 DECEMBER 2021 FORWARD CURVE, VALUE OF PROVEN
RESERVES IS USD 318.2 MILLION AND VALUE OF PROVEN AND PROBABLE
RESERVES IS USD 367.7 MILLION (31 DECEMBER 2020: USD 143.4
MILLION)

Source text for Eikon:  ID:nEQ5skQVJa 
Further company coverage:  DR0G.DE 

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