Denver/Heidelberg. Deutsche Rohstoff AG’s US-Oil subsidiary Tekton Energy (www.tektonenergy.com) reported today that it has already started producing from its first horizontal well, two weeks earlier than scheduled. The well was drilled in March 2013 and completed during the last four weeks. It was fraced last Friday and connected to the infrastructure over the weekend. The well already produced oil during the first few days. Usually, after the fracing a period of up to 2 weeks is needed to pump out the water that was injected for the frac. The production from the first well was halted until the second horizontal well will be completed. According to the current schedule, this will be the case some time next week. After this step, both wells will start producing.
The first two wells are part of Tekton’s overall plan to develop the full potential of its acreage of currently 2,300 acres. Tekton expects to drill up to 80 gross/60 net horizontal wells on its leases. As of today, over 60 of these wells have been permitted through State and local authorities. Comparable horizontal wells are reported to define reserves of 325,000 to 350,000 Barrels of Oil Equivalent each.
Heidelberg, 17 April 2013
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 oil & gas and so called high tech metals such as tin, tungsten, and rare earth metals. All projects are located in countries marked by political stability. The business concept is based on redeveloping deposits which have been well explored in the past. For more information please visit www.rohstoff.de.
Dr. Thomas Gutschlag
Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24, 69117 Heidelberg
Tel. (06221) 87 100-0
Fax (06221) 87 100-22
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