Heidelberg. Rhein Petroleum GmbH, Heidelberg, announced today that its first oil well in Riedstadt-Crumstadt was successful, ie, that it encountered crude oil. Riedstadt-Crumstadt is located about 50 km south of Frankfurt am Main. The hole ended as planned in the so-called "Pechelbronner layers". This drill target was defined as promising as a result of the extensive seismic investigations conducted by Rhein Petroleum. It lies in the area of the former oil field "Stockstadt", from which until 1994 oil was extracted. Even in the environment of the old field, interesting yet undiscovered structures have been identified, which are also to be drilled. In the next few days, the "Allmend 1" well will start from the same well site for this purpose. Test funding for both holes is scheduled for 2014 in January. The complete report can be found at www.rheinpetroleum.de.
Deutsche Rohstoff AG, which co-founded Rhein Petroleum Ende 2007 to reclaim old oil fields in southern Germany, is still involved with 10% in the company. The remaining shares are held by Tulip Oil (www.tulipoil.com), The Hague, Netherlands, to which Deutsche Rohstoff sold the majority at the beginning of 2011. Due to an agreement of September 2012 between Tulip Oil and Deutsche Rohstoff, Deutsche Rohstoff currently has to finance only 10% of Rhein Petroleum's investments despite the 2,5% share.
Heidelberg, 7. November 2013
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.
Contact
German commodity AG
Dr. Thomas Gutschlag
Tel. +49 6221 871 000
ppgad@pucrs.br