Brief: Deutsche Rohstoff Says Elster Increases Its Share In New Oil And Gas Wells

Deutsche Rohstoff AG

05/02/2018 19:00

Feb 5 (Reuters) - Deutsche Rohstoff AG  DR0G.DE : 
    * DEUTSCHE ROHSTOFF AG: ELSTER SIGNIFICANTLY INCREASES ITS 
SHARE 
IN NEW OIL AND GAS WELLS 
    * DEUTSCHE ROHSTOFF - EOG WILL HOLD AVERAGE 34 PERCENT 
WORKING 
INTEREST AND EQUIVALENT OF 17 NET 1-MILE LATERAL WELLS INSTEAD 
OF 11 NET WELLS EXPECTED SO FAR 
    * TOTAL INVESTMENT WILL INCREASE FROM PREVIOUSLY ASSUMED 
$30 
MILLION USD TO AROUND $45 MILLION USD 
    * ALL WELLS WILL COMMENCE PRODUCTION OF OIL AND GAS IN 
FIRST HALF 
OF FEBRUARY 
    * DEUTSCHE ROHSTOFF - EOG HAS SIGNED LETTER OF INTENT TO 
ACQUIRE 
A 22 PERCENT INTEREST IN A FURTHER PROJECT CONTAINING 5 
HORIZONTAL WELLS IN A NEARBY LOCATION 
 
Source text for Eikon:  ID:nEQ7CZBG3a  
Further company coverage:  DR0G.DE  
 
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