ROK Resources Inc V.ROK

Alternate Symbol(s): RKRWF | V.ROK.W | ROKRF

Energy Oil & Gas E&P

ROK Resources Inc. is a Canada-based oil and gas company. The Company is primarily engaged in exploring for petroleum and natural gas development activities in Alberta and Saskatchewan. Its core assets include Southeast Saskatchewan, which comprises oil weighted conventional Frobisher and unconventional Midale prospects and covers over 131,000 net acres, and Kaybob Alberta, a gas weighted, stacked multi-zone reservoir with upside locations in the Cardium, Montney, Bluesky and Dunvegan formations. The Company covers over 75,000 gross (45,000 net) acres in Kaybob. The Company also has a 25% interest in a private entity, which holds certain Subsurface Mineral Dispositions in Saskatchewan, with a focus on potential lithium resource prospects.

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ROK Resources Inc > Superb. 2022 Financials

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Post by nozzpackon Apr 14, 2023 5:45am

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Post# 35394597

Superb. 2022 Financials

Rok Resources earns $80-million in 2022

2023-04-13 20:58 ET - News Release

Mr. Cameron Taylor reports

ROK RESOURCES FILES FINANCIAL RESULTS, RESERVE REPORT, AND MANAGEMENT DISCUSSION & ANALYSIS

Rok Resources Inc. has filed its annual financial results, reserve report, and management's discussion and analysis for the year ended Dec. 31, 2022.

Financial and operating highlights

In fourth quarter 2022, the company realized production volume of 326,469 total barrels of oil equivalent (3,549 boe per day), resulting in crude and natural gas sales of $23.9-million and funds from operations of $14.9-million. This equates to an operating netback, after hedging, per boe of $43.87 and an operating income profit margin, after hedging, of 59.9 per cent.

Net debt

The continued reduction of net debt quarter over quarter is a result of organically generated funds flows utilized to reduce company indebtedness. Rok Resources uses net debt as a measure of the company's financial position and liquidity; however, it is not intended to be viewed as an alternative to other measures calculated in accordance with international financial reporting standards.

Fourth quarter highlights:

Record production of 3,549 boe/d (75 per cent liquids) for Q4 2022;
Net debt of $35.3-million as of Dec. 31, 2022;
Achieved 2022 capital efficiencies of just under $18,000 per boe/d on 22 gross (12.9 net) drill, complete, equip and tie-in and seven gross (4.2 net) reactivation and workover capital projects, which averaged gross IP30 production of 112 boe/d (53 boe/d, net);
Realized an annual hedge gain on commodity contracts of $4.1-million.

Complete reports and statements are available on SEDAR.

About Rok Resources Inc.

Rok Resources is primarily engaged in exploring for petroleum and natural gas development activities in Alberta and Saskatchewan. Its head office is located in Regina, Sask., Canada, and Rok Resources' common shares are traded on the exchange under the trading symbol ROK.

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