DGAP-News: Activa Resources AG / Key word(s): Miscellaneous Activa Resources AG to step up growth rate 29.10.2012 / 08:30 --------------------------------------------------------------------- News Release 29th October 2012 Activa Resources AG to step up growth rate * Two new OSR-Halliday horizontals wells to be drilled back-to-back in 2012 * Three further wells planned in 2013 Bad Homburg, October 29th, 2012. Activa Resources AG, an independent oil and gas company with operational knowhow in the development and efficient exploitation of oil and natural gas properties, reports an acceleration of its drilling activities at its main producing asset, the OSR-Halliday field in East Texas. Activa and its partners in the OSR-Halliday oil field, located in one of the most promising new oil plays in Texas, have decided to ramp up production. Two new horizontal wells targeting the Woodbine formation will be drilled in the coming weeks. The first of these spudded on October 22. The second will be drilled back-to-back and both are expected to go on production in early 2013. Activa and its partners are planning to raise production rates at OSR-Halliday again during 2013 with the drilling of three further wells. Activa's CEO Leigh A. Hooper explains: 'Our decision to accelerate the production growth rate at OSR-Halliday is based on the success of the first three producing horizontal wells in the field during the last two years. We also want to rapidly increase the value of the field through drilling in order to achieve a field valuation in line with recent transactions pertaining to acreage in the region. Additional potential at OSR-Halliday is provided by the formations which have yet to be tested by Activa and its partners. Other companies are already successfully producing from these Eaglebine zones in the surrounding area.' The Management Board About Activa Resources AG Activa Resources AG is an independent oil and gas company which focuses on the acquisition, development and exploitation of oil and natural gas properties. Activa Resources AG is listed on the Frankfurt stock exchange and is based in Bad Homburg, Germany. The company's management and technical team comprise oil industry experts with many years operational experience at major international oil companies. Further information can be found at www.activaresources.com. Company contact: Activa Resources AG Hessenring 107 61348 Bad Homburg www.activaresources.com Telefon: +49 (0)6172-483 2352 FAX: +49 (0)6172-483 2353 lah@activaresources.com Investor Relations contact: GFEI Aktiengesellschaft Am Hauptbahnhof 6 60329 Frankfurt www.gfei.de Telefon: +49 (0)69-7430 3700 FAX: +49 (0)69-7430 3722 activa-resources@gfei.de End of Corporate News --------------------------------------------------------------------- 29.10.2012 Dissemination of a Corporate News, transmitted by DGAP - a company of EquityStory 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 --------------------------------------------------------------------- 190507 29.10.2012
DGAP-News: Activa Resources AG to step up growth rate
| Source: EQS Group AG