Deutsche Rohstoff AG: Rhein Petroleum commences Steig-1 well

Deutsche Rohstoff AG

Deutsche Rohstoff AG: Rhein Petroleum commences Steig-1 well

Deutsche Rohstoff AG

Mannheim. Rhein Petroleum GmbH, in which Deutsche Rohstoff AG holds a 10% stake, is expected to commence drilling Steig-1 near the Baden town of Weingarten, a few kilometres north of Karlsruhe, on 27 May. The wells objective is to provide information as to whether there are quantities of crude oil worth producing at a depth of around 900 metres.

The Heidelberg-based company has planned a maximum of four weeks for the well, which is to be drilled in the so-called Pechelbronn formation. The crude oil deposit that Rhein Petroleum intends to develop via the well has been known since the 1950s. It is located in the immediate vicinity of the former Weingarten oil field, from which crude oil was produced until the 1960s.

Further information to the drilling is under www.rheinpetroleum.de.

Mannheim, 22 May 2019

 

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.