DGAP-News: Deutsche Rohstoff AG: Strong sales and profit growth in the first half of 2013
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Half Year
Results/Miscellaneous
Deutsche Rohstoff AG: Strong sales and profit growth in the first half
of 2013
27.09.2013 / 08:05
---------------------------------------------------------------------
Deutsche Rohstoff: Strong sales and profit growth in the first half of 2013
Tekton Energy drilling program on schedule/Additional bond issue of EUR 10
million
Heidelberg. Deutsche Rohstoff AG, Heidelberg, published its semi-annual
report today. The report can be downloaded on the company's website
(www.rohstoff.de).
Sales of the group during the first half of 2013 increased to EUR 6.5
million (previous year: EUR 1.4 million). Earnings before interest, taxes,
depreciation and amortization (EBITDA) improved from EUR -0.3 million to
EUR 1.9 million, net profit increased from EUR -0.96 million to EUR 0,25
million (all figures according to HGB, unaudited). Both currently producing
subsidiaries, Tekton Energy and Wolfram Camp Mining, contributed an almost
equal share of sales volume. Tekton generated revenue of EUR 3.2 million
during the first half of the year, Wolfram Camp EUR 3.3 million. Deutsche
Rohstoff is expecting significant increases in in revenue in both
subsidiaries for the second half of 2013.
Tekton continues its very positive development. The severe floods in
Colorado during the first half of September did not affect the drill
program or any of the producing wells. Drilling of five additional
horizontal wells that started in late August has so far been carried out on
schedule and without any notable technical problems. The management of
Tekton Energy assumes to finalize all wells shortly and to commence
production by mid-November. In mid-October drilling of the next three wells
from the Frye Farms pad will start. Tekton holds a working interest of
98.5% in these three wells. Deutsche Rohstoff will publish further details
about the current and future drilling activities over the next few weeks.
The first two horizontal wells which started production in May, kept
producing with rates above expectations in August. Both wells combined
produced an average of 925 barrels of oil equivalent (BOE) per day.
Including the nine vertical wells, Tekton produced 1,079 BOE per day in
August. All wells produced the full month.
The bond placement by Deutsche Rohstoff, that took place in June and July,
was extended through further issue of EUR 10 million to institutional
investors. Total bonds issued now amount to approximately EUR 62.5 million.
A further placement of bonds is currently not planned. With the funds now
available, Tekton will be able to drill with two drilling rigs at the same
time. A second rig has been contracted and is expected to commence drilling
from Tekton's Diamond Valley pad during first half of November.
The Wolfram Camp mine in Australia is also showing a positive development
and is expected announce the official start of commercial production
shortly. In the course of the ongoing full production since July,
additional minor optimization measures were applied to the processing
plant. The significant improvement is also reflected in the average monthly
sales this year: in the first quarter revenue amounted to AUD 2.1 million,
in the second quarter to AUD 2,2 million and in the current quarter (July
to 20 September) to AUD 3.8 million. The European APT tungsten price, which
is the relevantmeasure for Wolfram Camp, remained at high levels around
USD 400/mtu in September.
Heidelberg, 27 September 2013
Deutsche Rohstoff (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 political stable countries with high environmental standards.
The business concept is based on redeveloping deposits, which have been
well explored in the past. For more information please visit
www.rohstoff.de.
Contact:
Thomas Gutschlag
gutschlag(at)rohstoff.de
+49 6221 871 000
End of Corporate News
---------------------------------------------------------------------
27.09.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
DGAP's Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de
---------------------------------------------------------------------
Language: English
Company: Deutsche Rohstoff AG
Friedrich-Ebert-Anlage 24
69117 Heidelberg
Germany
Phone: 06221-87100-11
Fax: 06221-87100-22
E-mail: gutschlag(at)rohstoff.de
Internet: www.rohstoff.de
ISIN: DE000A0XYG76, DE000A1R07G4,
WKN: A0XYG7, A1R07G
Indices: Entry Standard (Performance TOP 30)
Listed: Freiverkehr in Berlin, Düsseldorf, Stuttgart; Frankfurt in
Open Market (Entry Standard)
End of News DGAP News-Service
---------------------------------------------------------------------
232243 27.09.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Bereitgestellt von Benutzer: EquityStory
" alt="Arrowstar Receives Approval for Drilling Program
Datum: 27.09.2013 - 08:05 Uhr
Sprache: Deutsch
News-ID 300795
Anzahl Zeichen: 5664
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 327 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: Deutsche Rohstoff AG: Strong sales and profit growth in the first half of 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
Deutsche Rohstoff AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
