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ROK Resources Inc V.ROK

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

ROK Resources Inc. is primarily engaged in exploring for petroleum and natural gas development activities in Alberta and Saskatchewan. The Company’s diversified asset base in both Southeast Saskatchewan and Alberta is weighted to light crude with opportunities for natural gas development in the Kaybob area of Alberta. 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.


TSXV:ROK - Post by User

Bullboard Posts
Post by hockeylad33on Aug 10, 2012 5:00pm
445 Views
Post# 20205769

Pescod w/ Krishna

Pescod w/ Krishna

Just saw the article today.  In it, Krishna says they will be drilling 2 wells simultaneously in the NW portion of the block, very close to Yatay (Corcel/Guatiquia).  That is good news.  If they hit on either well, it has company-making implications.  Plus they canimmediately drill 2 development wells likely from the same pad if successful.  Assuming a 5K bopd IP rate, that's 15K bopd gross in short order, or approx 4500 bopd NET.  Lots of conjecture, but I think for a 3-4M investment per well (net), that is some significant potential reward.  In the space of 6 months, they coud have 3 wells on line and tied-in in the event of a discovery.   And with the ability to drill 10+ wells with cash on hand, I am content to sit and wait and hope they hit a few.

 

 

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