DGAP-News: Deutsche Rohstoff AG:
(firmenpresse) - DGAP-News: Deutsche Rohstoff AG / Key word(s): Disposal
Deutsche Rohstoff AG:
14.01.2011 / 09:14
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Deutsche Rohstoff AG: Tulip Oil Holding acquires a 75% majority
shareholding in Rhein Petroleum, an oil and gas subsidiary of Deutsche
Rohstoff
Investment of more than 20 million Euro expected into Rhein Petroleum
Heidelberg. Tulip Oil Holding B.V. ('Tulip Oil') has agreed to acquire a
55% shareholding in Rhein Petroleum GmbH ('Rhein Petroleum') from Deutsche
Rohstoff AG ('Deutsche Rohstoff'). This will reduce Deutsche Rohstoff's
shareholding in Rhein Petroleum from its current 80% to 25%. Rhein
Petroleum GmbH's other shareholder Herzford International Limited is
selling its entire 20% shareholding to Tulip Oil. Following these
transactions, Tulip Oil will hold 75% and Deutsche Rohstoff 25% of Rhein
Petroleum GmbH's shares.
Deutsche Rohstoff AG will receive 6.7 million Euro in cash as well as up to
5.1 million Euro depending on the achievement of certain milestones.
Deutsche Rohstoff AG will also be refunded its shareholder loan of 0.5
million Euro.
Tulip Oil (www.tulipoil.com) is an oil and gas company founded in July
2010. Its management consists of former senior Shell managers and the
company is focusing its activities on Western Europe. Tulip Oil is
co-owned and financed by Barclays Natural Resource Investments
(www.bnri.com), a global private equity business focused on natural
resource investment opportunities, together with Tulip Oil management.
Dr Titus Gebel, CEO of Deutsche Rohstoff AG, said: 'We are very pleased to
have found a partner that has excellent technical know-how and backing from
a strong investor. We look forward to developing together the great
potential existing in the licence areas of Rhein Petroleum in Southern
Germany'.
Dr.Ir. Roelof Platenkamp, Executive Chairman of Tulip Oil, added: 'We see
substantial potential in the licence areas of Rhein Petroleum which fit
perfectly into our business model. Both partners complement each other's
abilities and it is very important for us to continue to make use of the
expertise of Rhein Petroleum's former managers.'
Ir. Erik Steenken, who is CEO of Tulip Oil Holding and will be appointed as
CEO and managing director of Rhein Petroleum following completion of the
acquisition, explained: 'We are convinced that through application of
modern technology we will be able to extract oil and gas from former,
abandoned fields as well as from yet to be discovered oil and gas
accumulations which will boost the local economy. Tulip Oil's management
team brings a broad experience gained in Germany, Austria, and the
Netherlands required to efficiently produce oil and gas in an
environmentally sensitive way.'
For 2011 and 2012, Tulip Oil Holding and Deutsch Rohstoff have agreed to
acquire extensive 3D-seismic over Rhein Petroleum's licence areas in the
Rhine Valley and in Bavaria. State of the art seismic interpretation will
give a better understanding of the composition and structure of potentially
oil and gas bearing layers and thereby significantly increases the chances
of discovery. Over the last 20 years, 3D seismic technology has been
considerably enhanced. However, it has barely been applied in the Rhein
Petroleum licence areas as oil and gas exploration has only been carried
out on a small scale in Southern Germany since the end of the 1980s.
After analysing theseismic results, Rhein Petroleum intends to commence
drilling and test production from 2012 onwards. In the years to come,
Rhein Petroleum and its shareholders are planning an investment of more
than 20
million Euro.
Heidelberg and The Hague, 14 January 2011
Deutsche Rohstoff AG (Heidelberg, Germany), listed in the Entry Standard
segment of the Frankfurt Stock Exchange, is establishing a new primary
producer. The company's focus is placed on gold, oil/gas and so called high
tech metals such as indium, gallium, rare earth metals, cobalt. All
projects are located in countries marked by political stability, the core
area being Germany. The business concept is based on redeveloping deposits
which have been well explored in the past. For more information please
visit www.rohstoff.de.
Tulip Oil Holding B.V. (The Hague, Netherlands) is a company with a focus
on oil and gas assets in Western Europe. The business was established in
July 2010 by BNRI and Tulip Oil's management to exploit opportunities in
undeveloped oil and gas field discoveries. In addition, Tulip will look at
late-life, mature assets, which still hold incremental value for a value
conscious, technically astute, and innovative management team. For more
information please visit www.tulipoil.com
Barclays Natural Resource Investments (London, UK) finds and partners with
best-in-class operational management teams with specific expertise and
significant experience and track-record within the global natural resources
sector, primarily in upstream oil&gas, upstream mining, and power,
including renewables. BNRI is an active investor and insists on board
representation in every transaction it completes. BNRI has offices in
London, New York, Sydney and Dubai and is staffed with 21 investment
professionals and a highly experienced advisory panel. For more
information please visit www.bnri.com
Contact:
Dr. Thomas Gutschlag
Deutsche Rohstoff AG
+49 6221 652 47 30
gutschlag(at)rohstoff.de
Hilde van den Braak
Tulip Oil Holding B.V.
+31 70 250 0898
info(at)tulipoil.com
End of Corporate News
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109002 14.01.2011
Datum: 14.01.2011 - 09:14 Uhr
Sprache: Deutsch
News-ID 32996
Anzahl Zeichen: 0
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Kategorie:
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