Genexco GmbH, domestic operator of the Velden-Teising exploration contract in southern Germany (Bavaria), is offering a farm-in opportunity to the proved Upper Cretaceous-Lower Tertiary oil play known from the Velden and Teising fields. The company is intending to re-develop the Velden and Teising fields, abandoned in 1986, and seek to attest the oil potential within previously untapped Upper Cretaceous sandstones, oil-bearing in Teising field. Genexco is seeking partners for the pilot phase and full field development in return for equity in the projects (entire portfolio, or single field-related projects).  Interested parties are asked to contact: Peter Eckhard Oehms, Managing Director Genexco GmbH, tel.: +49 160 9793 6552, e-mail: eckhardoehms@genexco.de.  The Velden-Teising permit is located some 60 km east-northeast of the city of Munich, just north of the Salzach Inn contract of RAG. In a geological sense, the tract is located in the Alpine Foreland.  Background Information  The area of Teising was covered from 1 June 2010 to early 2015 by the company Nasser Berg Energie GmbH, involved in the geothermal energy and gas storage business. In 2015, Nasser Berg Energie divested the tract to Genexco GmbH (effective 31 May 2015). In 2017, Genexco applied for an enlargement of the Teising area, to include also the nearby Velden field. On 1 January 2018, Bayerisches Staatsministerium fÃ¼r Wirtschaft, Infrastruktur, Verkehr und Technologie granted the Velden-Teising contract, valid until 31 December 2020.
Germany, Teising