Heidelberg / Denver. Deutsche Rohstoff AG is stepping up its activities in the attractive US oil and gas market. Together with the founders of the former Tekton Energy, Jerry Sommer and Earl Norris, she has launched a new US oil and gas company called Salt Creek Oil & Gas, based in Denver, Colorado. Deutsche Rohstoff holds the majority in this company. In addition to oil projects, Salt Creek is particularly focusing on gas projects, as the fundamentals in the US gas market are improving again after years of declining or stagnating prices. The focus of activities will initially be outside of the Wattenberg oil field in Colorado.

Tim Sulser will lead Salt Creek's operations as CEO. Tim Sulser is a petroleum engineer who has worked successfully in the US oil and gas industry for 15 years. In the past five years, as a consultant at the investment bank Tudor Pickering & Holt Co., which specializes in oil, gas and energy, he has been responsible for many sales transactions for oil and gas companies. Among other things, he assisted Tekton Energy in the successful sale of its activities last year, which brought in proceeds of USD 200 million in cash.

Jerry Sommer, Chairman of Salt Creek Oil & Gas, said, “We are thrilled to start a new project with the successful team that founded Tekton Energy in 2011. Tim Sulser's skills and experience complement the team perfectly. "

Tim Sulser, CEO of Salt Creek Oil & Gas, commented, “I look forward to building a successful oil and gas company. There are numerous ways in which you can create significant value over the next few years. Now is the right time to invest in the US oil and gas market. "

The two other US companies in which Deutsche Rohstoff holds a majority stake have developed extremely well over the past 12 months. These are Elster Oil & Gas (formerly Tekton Energy) and Cub Creek Energy, which was only founded in June 2014. Just one year after its founding, Cub Creek Energy, which is managed by former Tekton engineer Bob Gardner, has around 2.200 acres (approx. 8,9 km2) of prospective land in the core area of ​​the Wattenberg field in Colorado. Elster Oil & Gas has a stake in the Magpie area in the same area. A recently prepared initial development plan assumes a combined total of up to 150 horizontal wells for both companies. Management expects average production rates for these wells to be similar to those achieved by Tekton Energy.

The first five wells on the Magpie area of ​​Elster are already running. They are scheduled to start production in the third quarter of 2015. Further drilling, both at Cub Creek and Elster, is expected to commence in the fourth quarter of 2015. The price of oil will have a significant impact on the extent and speed of drilling. Break-even in Wattenberg, according to management and other companies operating in the field, is around USD 40 per barrel. With the current WTI oil price, which has stabilized at about USD 60 per barrel since April, the drilling is already economically very profitable.

Thomas Gutschlag, CEO of Deutsche Rohstoff, commented: “We are more than satisfied with the development of Cub Creek and Elster in the first 12 months. CEO Bob Gardner (previously VP Engineering & Operations at Tekton Energy) and his team have done a fantastic job. You have acquired a high-quality portfolio in a very short time and created the conditions for rapid growth. We are sure that Salt Creek will be just as successful and are proud to be active in the US market with two such strong and experienced teams. "

Heidelberg, 15. June 2015

Deutsche Rohstoff, 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 with high environmental standards. 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 at www.rohstoff.de.