Mannheim. Elster Oil & Gas (EOG), a 93% subsidiary of Deutsche Rohstoff, sold its royalties over different wells close to the township of Windsor for USD 1.56 million. The royalties were originally part of the portfolio of former Tekton Energy. In addition to the sales price, EOG received over USD 400,000 in revenue from July to November production. As EOG has activated no value for these royalties, the sales price will be fully booked as profit.
Mannheim, 30 December 2016
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