09.03.2022 08:52:34

DGAP-News: Deutsche Rohstoff AG: Strong increase in oil and gas reserves

DGAP-News: Deutsche Rohstoff AG / Key word(s): Miscellaneous
Deutsche Rohstoff AG: Strong increase in oil and gas reserves

09.03.2022 / 08:52
The issuer is solely responsible for the content of this announcement.


Deutsche Rohstoff AG: Strong increase in oil and gas reserves
Doubling of reserves to 49 million BOE/Current value of proven reserves rises to more than USD 500 million

Mannheim. Based on the forward curve of 4 March 2022, the present value of the proven and probable reserves of the US subsidiaries of Deutsche Rohstoff AG (future cash flow discounted at 10%, so-called PV 10) amounts to USD 639.9 million, of which proven reserves accounted for USD 503.8 million and probable reserves for USD 136.1 million. Proven reserves were calculated at 29.2 million barrels of oil equivalent (BOE) at year-end (previous year: 20.4 million BOE), while probable reserves were calculated at 19.4 million BOE (previous year: 3.8 million BOE).

Based on the 31 December 2021 forward curve, the value of proven reserves is USD 318.2 million and the value of proven and probable reserves is USD 367.7 million (31 December 2020: USD 143.4 million).

Assuming an oil price of 60 USD/barrel flat, the PV10 of proven reserves amount to USD 285.5 million and the value of proven and probable reserves at a total of USD 343.4 million. Assuming a price of 80 USD/barrel over the life of production, the proven reserves increase to USD 503.0 million and the value of proven and probable reserves increases to USD 688.0 million.

A detailed overview will be available shortly on Deutsche Rohstoff's website. Today, Wednesday, the company will offer a webcast at 2 p.m. to discuss the current situation in the oil market and the results of the reserves estimate. Interested parties can register via the website www.rohstoff.de.

Mannheim, 9 March 2022

Deutsche Rohstoff identifies, develops and sells attractive raw material deposits in North America, Australia and Europe. The focus is on the development of oil and gas deposits in the USA. Metals such as Gold and tungsten complete the portfolio. Further information can be found at www.rohstoff.de

Contact
Deutsche Rohstoff AG
Dr. Thomas Gutschlag, CEO
Phone +49 621 490 817 0
info@rohstoff.de



09.03.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Language: English
Company: Deutsche Rohstoff AG
Q7, 24
68161 Mannheim
Germany
Phone: 0621 490 817 0
Fax: 0621 490 817 22
E-mail: gutschlag@rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Scale 30
Listed: Regulated Unofficial Market in Berlin, Dusseldorf, Frankfurt (Scale), Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
EQS News ID: 1297803

 
End of News DGAP News Service

1297803  09.03.2022 

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