Mannheim. Elster Oil & Gas (EOG), a 93% subsidiary of Deutsche Rohstoff, sold its royalties over different wells close to the township of Windsor for $ 1.56 million. The royalties were originally part of the portfolio of former Tekton Energy. In addition to the sales price, EOG received over $ 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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