Denver / Heidelberg. Tekton Energy (www.tektonenergy.com), the US oil holding of Deutsche Rohstoff AG, announced today that it has already started production from the first horizontal well two weeks ahead of schedule. The well was sunk in March 2013 and completed during the last four weeks. Over the weekend, the connection to the existing infrastructure. The hole promoted oil in the first days. It usually takes up to two weeks to recover the water pumped into the well during production preparation. The production was interrupted yesterday for the time being to initially complete the adjacent second horizontal well. According to the current schedule, this will be the case over the next week. Thereafter, both holes will receive the promotion.
The two holes are part of Tekton's development plan, which aims to exploit the full potential of the project area (currently around 2.300 acres, approximately 9,3 km2). Tekton intends to derail around 80 "gross" horizontal bores. Since, on average, around 25% of each hole is attributable to adjacent parties who pay their share of the costs, after completion of the program Tekton will have approximately 60 "net" drilling at 100%. Of the planned drilling, more than 60 has now been approved by the local authorities and the State of Colorado. Comparable horizontal wells in the Wattenberg field have on average, according to the two major producers Anadarko Petroleum and Noble Energy, recoverable reserves of 325.000 - 350.000 BOE (Bore of Oil Equivalent) per well.
Heidelberg, 17. April 2013
Deutsche Rohstoff AG, listed in the Entry Standard, is building a new raw material producer. The focus is on oil & gas and so-called high-tech metals such as tungsten, tin and rare earths. All projects are located in politically stable countries. The business model is based on the (re-) development of deposits that have already been well explored in the past. Further information on Deutsche Rohstoff AG is available at www.rohstoff.de.
