New venture with focus on breakthrough innovations in oil and gas industry
Denver-Heidelberg. Deutsche Rohstoff AG, through its 100% subsidiary Deutsche Rohstoff USA Inc., invested in and co-founded Tekton Energy LLC, an E&P company based in Denver, Colorado, USA. Tekton’s focus will be to acquire, exploit and operate oil and gas properties in North America and Europe utilizing a skilled team of veteran industry professionals and recent technical innovations. Deutsche Rohstoff will be the majority equity owner (57%) and a significant capital provider for this new venture.
Mr. Jerry Sommer, formerly President of Source Energy LLC and Chief Operating Officer of Aspect Energy, and Mr. Earl Norris, formerly Geology Lead at Vantage Energy and Exploration Manager at Aspect Abundant Shale founded Tekton Energy with Deutsche Rohstoff. Together, they hold the remaining 43% of the company. Mr. Sommer, CEO of Tekton Energy and Mr. Norris, VP of Exploration have decades of oil and gas experience which includes numerous successful projects in North America and Europe.
Dr. Titus Gebel, President and CEO of Deutsche Rohstoff AG, commented: “The last 15 years have changed the oil and gas industry dramatically. New exploration and production technologies have led to a paradigm shift. Jerry Sommer and Earl Norris are eminent specialists in these fields with an excellent track record. The founding of Tekton with such experts is a big step forward for the oil and gas branch of Deutsche Rohstoff AG.”
Mr. Jerry Sommer: “I’m honored to be partnered with Titus Gebel and Thomas Gutschlag at Deutsche Rohstoff. Earl and I are excited to launch Tekton Energy with such quality partners. Tekton is an ancient Greek word used to describe ‘one who understands their craft completely and uses that knowledge to create works of excellence’. The goal of our company is to combine the many skills of my associates with key breakthrough innovations to create exceptional value for all our investors.”
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard segment of Frankfurt Stock Exchange, is establishing a new primary producer. The company’s focus is placed on gold, oil/gas and so called high tech metals such as indium, gallium, rare earth metals, cobalt. All projects are located in countries marked by political stability, the core area being Germany. The business concept is based on redeveloping deposits which have been well explored in the past. First Production started in January 2011. For more information please visit www.rohstoff.de.
Tekton Energy LLC (Denver, Colorado, USA) is a newly formed Delaware LLC focused on USA and Europe oil and gas opportunities that benefit from technology leverage.
Heidelberg, 24 January 2011
Dr. Thomas Gutschlag
Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24, 69117 Heidelberg
Tel. (06221) 87 100-0
Fax (06221) 87 100-22
Koppelstätter Kommunikation GmbH
Friedrichstraße 2, 76530 Baden-Baden
Tel. (07221) 97372 11
Fax (07221) 97372 22