18 May, 2016
Heidelberg/Graben-Neudorf – Rhein Petroleum GmbH – in which Tulip Oil Holding B.V. holds a 90% interest – has commenced the construction of the Hofwiese 1 exploration well site after having obtained all required permissions from the mining authority of Baden-Württemberg. The Hofwiese 1 well in the area of Graben-Neudorf targets light oil in an untested structure in an area where regionally proven reservoirs are expected to be found at a depth of 1,200 – 1,800 m. If successful, this well could mark the reestablishment of domestic oil production in the region after almost 30 years.
The arrival of the rig on site is currently scheduled for June with actual drilling operations commencing shortly thereafter. The rig will be on site temporarily for period of 4 to 6 weeks only during the drilling of the well and will then be moved away.
An information container housing a small exhibition on the well and the technology applied will be accessible to the public upon commencement of the drilling operation. In addition, an ‘open doors day’ will be announced in due course to provide the opportunity for interested public to visit the rig.
In 2011 and 2012 Rhein Petroleum acquired a very large 3D seismic surveys extending over most of its Graben-Neudorf concession. The data revealed significant potential in an area that saw abundant petroleum production activity in the past. Hofwiese is one of Rhein Petroleum’s well projects designated to confirm this potential.
More information and a live news ticker on the Hofwiese well can be found on www.rheinpetroleum.de
Tel.: +49 7221 398 66-11
About Rhein Petroleum GmbH
Rhein Petroleum GmbH is a young German company based in Heidelberg. The operations are focused on exploration and exploitation of new and already known oil and gas fields in Southern Germany and the Upper Rhine Graben. The highly qualified and internationally experienced staff operates with state of the art drilling, security and environmental protection technologies. The company is majority owned (90%) by Dutch based Tulip Oil Holding. Deutsche Rohstoff AG, founder of Rhein Petroleum, holds a minority stake of ten percent.