Mannheim. Rhein Petroleum GmbH has had a significant oil discovery in its recently drilled Steig-1 well, as the majority shareholder Tulip Oil reported in a press release published today. Rhein Petroleum had drilled the well in the Southern German region of Baden Wurttemberg in recent months and is currently testing it. The size and value of the deposit will be determined more precisely in the coming months. The planning for the development of this oil field has already begun.
Rhein Petroleum’s shareholders are the Dutch company Tulip Oil Holding B.V., The Hague, with a 90% stake, and Deutsche Rohstoff AG, which holds 10% of the company.
Mannheim, 8th July 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.