ROK Resources Inc (ROK)

ROK Resources Files Financial Results and Management Discussion & Analysis for First Quarter of 2026May 28, 2026 7:30 AM
ACCESS NewswireNOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATESREGINA, SK / ACCESS Newswire / May 28, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) announces the Company has filed the Financial Results and Management Discussion & Analysis for the three months ended March 31st, 2026.Q1 2026 Financial and Operating HighlightsThe Company remained on strategy for Q1 2026, with Funds Flow of $3.8 million increasing the Companies adjusted net surplus to $7.8 million. The previously announced $20.4 million 2026 capital program is expected to be funded entirely out of working capital. At the time of writing, the Company is currently drilling its second well of its 2026 capital program of 8 to 10 gross wells, all targeting light oil prospects in Southeast Saskatchewan.Working Capital Surplus: Adjusted Net Surplus of $7.8 million, as compared to $4.5 million at December 31, 2025;Production in line with forecast: quarterly production averaged 3,027 boepd (69% liquids) with 280 boepd (15% liquids) shut-in and expected to be brough back online through Q2 2026; andFunds from Operations: Funds from Operations of $5.3 million.Operating (expressed in $000s except where stated) Q1 2026 Q1 2025 Oil and Natural Gas Sales 15,874 20,980 Royalties (2,597) (3,478)Operating Expenses (8,667) (9,031)Operating Income 4,610 8,471 Processing and other income (1) 378 499 Realized gain on commodity contracts 277 (334)Funds from Operations 5,265 8,636 Average daily production Crude oil (bbl/d) 1,744 2,166 NGLs (boe/d) 337 417 Natural gas (mcf/d) 5,672 8,144 Total (boe/d) 3,027 3,941 Operating Netback per boe Oil and Natural Gas Sales 58.27 59.16 Royalties (9.53) (9.81)Operating Expenses (31.81) (25.46)Operating Netbacks ($/boe) 16.93 23.89 Funds from Operations ($/boe) 19.33 24.35 Operating Income Profit Margin 29.1% 40.4%Funds from Operations Profit Margin 33.2% 41.2%Financial (expressed in $000s except where stated) Q1 2026 Q1 2025 Net income (loss) 2,381 (1,545)Basic ($/share) 0.01 (0.01)Diluted ($/share) 0.01 (0.01)Funds flow 3,824 7,149 Basic ($/share) 0.02 0.03 Diluted ($/share) 0.02 0.03 Expenditures on property, plant and equipment 505 669 (1) Refer to "Non-IFRS Measures" section below for details regarding adjustments to processing and other income for purposes of calculating "Funds from Operations".Complete reports and statements are available on SEDAR+ at www.sedarplus.ca and on the Company website www.rokresources.ca.About ROKROK is primarily engaged in petroleum and natural gas exploration and development activities in Alberta and Saskatchewan. It has offices located in both Regina, Saskatchewan, Canada and Calgary, Alberta, Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".For further information, please contact:Bryden Wright, President and Chief Executive Officer
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Email: investor@rokresources.ca
Website: www.rokresources.caNon-IFRS MeasuresThe non-IFRS measures referred to above do not have any standardized meaning prescribed by IFRS Accounting Standards ("IFRS") and, therefore, may not be comparable to similar measures used by other companies. Management uses this non-IFRS measurement to provide its shareholders and investors with a measurement of the Company's financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used."Operating Income" is calculated by deducting royalties and operating expense from total sales revenue. Total sales revenue is comprised of oil and gas sales. The Company refers to Operating Income expressed per unit of production as an "Operating Netback". "Operating Income Profit Margin" is calculated by the Company as Operating Income as a percentage of oil and natural gas sales. "Funds from Operations" is calculated by adding other income and realized gains/losses on commodity contracts ("hedging") to Operating Income. "Funds from Operations Profit Margin" is calculated by the Company as Funds from Operations as a percentage of oil and natural gas sales.The following table reconciles the aforementioned non-IFRS measures:($000s) Q1 2026 Q1 2025 Oil and natural gas sales 15,874 20,980 Royalties (2,597) (3,478)Operating expenses (8,667) (9,031)Operating income 4,610 8,471 Processing and other income (1) 378 499 Realized gain (loss) on commodity contracts 277 (334)Funds from Operations 5,265 8,636 Sales volume (boe) 272,447 354,657 ($ per boe) Oil and natural gas sales 58.27 59.16 Royalties (9.53) (9.81)Operating expenses (31.81) (25.46)Operating Netback 16.93 23.89 Funds from Operations 19.33 24.35 Operating Income Profit Margin 29.1% 40.4%Funds from Operations Profit Margin 33.2% 41.2%(1) Non-cash revenue derived from management fee that is recognized over time from deferred revenue is excluded from processing and other income for the calculation of Funds from Operations."Net Surplus (Debt)" includes the undiscounted face value of all indebtedness of the Company, such as the credit facility and lease obligations (each as defined within the Company's interim condensed consolidated financial statements for the three months ended March 31, 2026), net of Adjusted Working Capital. "Adjusted Working Capital" is calculated as current assets less current liabilities, excluding?current?portion?of debt,?lease liabilities, decommissioning obligations, and RSU liabilities as defined on the Company's statement of financial position within the Company's interim condensed consolidated financial statements for the three months ended March 31, 2026. "Adjusted Net Surplus (Debt)" is calculated by removing the mark-to-market fair value of the current portion of risk management contracts and lease obligations (each as defined within the interim condensed consolidated financial statements for the three months ended March 31, 2026) from Net Surplus (Debt).The following table reconciles the aforementioned non-IFRS measures:($000s) March 31, 2026 December 31, 2025 Cash and cash equivalents 7,051 5,744 Accounts receivable 8,978 6,675 Prepaids and deposits 495 220 Risk management contracts 110 141 Accounts payable (8,697) (8,154)Adjusted working capital 7,937 4,626 Lease obligations (286) (324)Net surplus 7,651 4,302 Remove: Current portion of risk management contracts (110) (141)Remove: Lease obligations 286 324 Adjusted net surplus 7,827 4,485 "Funds Flow" includes all cash from (used in) operating activities and is calculated before the change in non-cash working capital. "Funds Flow Basic ($/share)" and "Funds Flow Diluted ($/share)" are calculated by dividing Funds Flow by the weighted average number of basic shares and weighted average number of diluted shares outstanding, respectively, for the relevant period, as presented within the Company's interim condensed consolidated financial statements for the three months ended March 31, 2026. These are considered key measures of operating performance and capital management as they demonstrate the Company's ability to generate the cash necessary to repay debt and fund capital investments. Management believes that by excluding the temporary impact of changes in non-cash operating working capital, each of these provide useful measures of ROK's ability to generate cash that are not subject to short-term movements in non-cash operating working capital.The following table reconciles cash flow from operating activities to Funds Flow:($000s) Q1 2026 Q1 2025 Cash flows provided by operating activities 1,810 3,037 Change in non-cash working capital 2,014 4,112 Funds Flow 3,824 7,149 Conversion MeasuresProduction volumes and reserves are commonly expressed on a barrel of oil equivalent ("boe") basis whereby natural gas volumes are converted at the ratio of 6 thousand cubic feet ("Mcf") to 1 barrel of oil ("bbl"). Although the intention is to sum oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants, boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In recent years, the value ratio based on the price of crude oil as compared to natural gas has been significantly higher than the energy equivalency of 6:1 and utilizing a conversion of natural gas volumes on a 6:1 basis may be misleading as an indication of value.Abbreviationsbbls/dbopd barrels per daybarrels per dayboepd barrels oil equivalent per dayIP Initial ProductionNGLs Natural Gas LiquidsMboeMg/l Thousands of barrels of oil equivalentMilligrams per LitreMMboe Millions of barrels of oil equivalentPDP Proved Developed ProducingTP Total Proved ReservesTPP Total Proved and Probable ReservesWTICA$US$ West Texas Intermediate, the reference price paid in U.S. dollars at Cushing, Oklahoma for the crude oil standard gradeCanadian dollarsU.S. dollarsCautionary Statement Regarding Forward-Looking InformationThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans and the expected results thereof. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR+ at www.sedarplus.ca; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.SOURCE: ROK Resources Inc.View the original press release on ACCESS NewswireOriginal: ROK Resources Files Financial Results and Management Discussion & Analysis for First Quarter of 2026

ROK Resources Announces 2026 Capital Budget and 2025 Year-End ReservesApril 9, 2026 7:30 AM
ACCESS NewswireNOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATESREGINA, SK / ACCESS Newswire / April 9, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) is pleased to provide its 2026 Budget and results of its 2025 year-end reserves. ROK's 2026 capital program will focus on development and reserve growth in core operating areas in Southeast Saskatchewan after limited activity in 2025. This year's robust program will include investment in new drilling prospects, reactivation and optimization work, waterflood initiatives and a continued focus on asset retirement obligations.2025 Operational HighlightsIn 2025, the Company maintained a focused capital allocation strategy and vigilant financial decision-making to eliminate debt and maintain a strong balance sheet. The Company spent approximately $5.0 million in capital expenditures, not including $1.1 million on asset retirement obligations. At December 31, 2025, Adjusted Net Surplus is estimated to be $4.4 million, representing a debt reduction of $15.0 million year-over-year.Full year daily average production of 3,591 boepd (66% liquids);Positive waterflood response observed at Benson, resulting in increased reserves and reduced decline rate;Realized net hedge gains on commodity contracts of $7.2 million;Improved adjusted working capital position from -$10.6 million to +4.4 million year-over-year; andEstimated annual Funds from Operations of $27.7 million.2026 Budget Summary & HighlightsFollowing a year of limited activity due to low commodity pricing and a corporate sales process, ROK will be active operationally in 2026 and will spend $20.4 million, with approximately $13 million allocated to drill, complete, equip and tie-in of new locations. The corporate land budget has been increased to finance growth in core operating areas, and $2.2 million will be dedicated to asset retirement obligations. With current production of 3,000 boepd, ROK expects this budget to achieve peak production of approximately 4,000 boepd in Q4 2026 (33% increase). This includes the reactivation of 280 boepd (85% natural gas) of shut-in production in Kaybob sometime in late Q2. The go-forward budget assumes a minimum US$70 WTI for the remainder of 2026 and will be funded entirely out of working capital.Drilling of 10 Gross (9 Net) new wells, consisting of Frobisher, Midale and Viking targets;Initiate two additional pressure maintenance projects in Southeast Saskatchewan; andReactivation projects underway across both Saskatchewan and Alberta. US$70WTI CA$2.00GJ/AECO1,3US$80WTI CA$2.00/GJ AECO1,3Gross (Net) Wells10 (9)10 (9)Capital Expenditures (MM)$20.4$20.4Daily Average Production (boepd)23,4753,475Q4 2025 Production (boepd)23,9003,900Funds From Operations (MM)$25.0$30.5Adjusted Net Surplus at YE (MM)$3.3$8.7Notes:0.72 CA$/US$ FX66% liquidsPrice assumptions effective May 1, 2026The budget presented does not include proceeds of $3.0 million from the deposit of the terminated transaction (see below), nor does it include proceeds from the equity ownership in EMP Metals, which at present date is valued at $11.7 million based on the trading price of EMPS.CN. The Company intends to monetize the equity ownership in EMP Metals at its earliest opportunity once the shares are out of escrow. Once monetized, Management and Board will consider all options, including return of capital to shareholders via dividends and/or NCIB.2025 Corporate ReservesTotal proved basic NAV9 of $0.46/share and total proved plus probable basic NAV9 of $0.82/share;A ~30% improvement in PDP F&D and FD&A costs, inclusive of future development costs;Despite inactivity across all basins, technical revisions resulted in 1,097 Mboe of PDP additions; andImproved corporate PDP decline rate11 reducing from 21% to 16% when compared year over year.Summary of Oil & Gas Reserves as of December 31, 20253,4,5,6The evaluation for the Company as of December 31, 2025, was conducted by McDaniel & Associates Ltd. ("McDaniel") of Calgary and was conducted in accordance with the definitions, standards and procedures contained in the Canadian Oil and Gas Evaluators Handbook ("COGEH") and National Instrument 51-101 - Standards for Disclosure of Oil and Gas Activities ("NI 51-101"). Reserves - Total Company InterestLight and Medium OilConventional Natural GasNatural GasTotal MbblMMcfLiquids MbblMboeTotal Proved Developed Producing2,643.19,9064544,756Total Proved7,163.221,8811,30812,126Total Probable3,641.716,7918647,305Total Proved plus Probable10,804.938,6722,17219,431 Summary of Net Present Values as of December 31, 2025 (Before Income Tax)3,4,5,6,7 Before Tax Present Value (M$)Undiscounted5%10%15%Total Proved Developed Producing-37,80515,94826,13627,358Total Proved85,164101,17886,02369,840Total Probable167,814110,91578,18557,895Total Proved plus Probable252,978212,093164,207127,734Future Development Costs ("FDC")FDC reflects best estimate of the capital costs to develop and produce reserves. Included in FDC are 90 gross proved booked drilling locations and 30 gross probable booked drilling locations.($ millions)Total ProvedTotal Proved Plus Probable202623.024.0202734.340.7202828.038.6202929.638.4203013.531.0Total FDC Undiscounted128.6172.8Total FDC Discounted at 10%103.4135.5Performance Measures (including FDC)The following table highlights finding and development ("F&D") and finding, development and acquisition ("FD&A") costs and associated recycle ratios, including FDC, based on the evaluation of the Company's petroleum and natural gas reserves prepared by McDaniel: 20252024Proved Developed Producing F&D costs per boe$9.91$14.74F&D recycle ratio2.41.5FD&A costs per boe$8.25$11.40FD&A recycle ratio2.81.9Total Proved F&D costs per boe$24.83$3.65F&D recycle ratio0.95.9FD&A costs per boe$20.25$0.81FD&A recycle ratio1.226.6Reserve Life IndexThe following table highlights our reserve life index based on the evaluation of the Company's petroleum and natural gas reserves prepared by McDaniel: 20252024Proved Developed Producing RLI (years)4.34.4Total Proved RLI (years)10.19.3Total Proved Plus Probable RLI (years)15.814.1Price Forecast4 (Sproule, GLJ, McDaniel Average), January 1, 2026 YearF/XWTIWTIAlberta AECO USD/CADUSD/bblCAD/bblCAD/Mmbtu 20260.7359.9282.083.00 20270.7465.1087.973.30 20280.7470.2894.973.49 20290.7471.9397.203.58 20300.7473.3799.143.65 20310.7474.84101.143.72 20320.7476.34103.163.80 20330.7477.87105.233.88 Reconciliation of Total Company Reserves Total Light & Medium CrudeTotal Natural GasTotal Natural Gas Liquids & CondensatesBOEFACTORSProvedProbableProved + ProbableProvedProbableProved + ProbableProvedProbableProved + ProbableProvedProbableProved + ProbableMbblMbblMbblMMcfMMcfMMcfMbblMbblMbblMboeMboeMboeOpen Dec 31, 202475353963114982568618299439851448920236813263793321196Dispositions-0.3-0.1-0.4-74-20-94-2.6-0.6-3.3-15-4-19Economic Factors-245-64-309-1549-28-1577-65-5.6-70.6-568-74-642Extensions/Improved Rec.6.51.78.215018833826.232.658.85865123Technical Revisions588-260328385-1649-126442.5-80.5-38694-61480Production-720--720-2716--2716-134--134-1307--1307Close Dec 31, 202571633642108052188116791386721316865218112126730519431Notes:Includes land budget of $5.0 million and $2.1 million of expenditures for abandonment and reclamation obligations.Estimated prior to finalizing year-end audited financial statements.Reserves from acquisition may differ from previous disclosure due to well underperformance or overperformance.The inflation rate is 0% in 2026, 2% per year in 2027 and 2% per year starting in 2028.Estimated future undiscounted development costs at December 31, 2025 were $128.6 million for proved reserves and $172.8 million for proved plus probable reserves.Report includes well and facility abandonment and reclamation costs of $112.7 million (with inflation) for the proved plus probable case.The net present values disclosed may not represent fair market value.Totals may vary due to rounding.Basic Net Asset Value ("Basic NAV") includes NPV10 of TP and TPP reserves, respectively, plus estimated1 adjusted net surplus balance of $4.4 million as of December 31, 2025 plus EMP equity value of $9.2 million at December 31, 2025, divided by 217,763,815 outstanding common shares.Total capital attributed to oil and gas finding and development in 2025 was $6.1 million.Corporate decline rate calculated on a 3-year timeframe (2025, 2026, 2027) on Proved Developed Reserves, and assumes no maintenance capital required.Hedge UpdateAs of this press release, the Company is 90% unhedged and exposed to spot pricing. New crude oil hedges on approximately 10% of ROK oil production were established for a 6-month period beginning April 2026. These are swap instruments, with pricing ranging from US$75 to US$83 per barrel. Refer to Company presentation on the website for more detail.Update on Terminated TransactionAs outlined in the Company press release dated March 4, 2026, the Arrangement Agreement between the Company and the purchaser group led by Blue Alaska Oil Trading LLC ("Blue Alaska") was terminated. ROK is currently seeking payment of the reciprocal break fee of $3 million (currently held in the form of a deposit in escrow) given Blue Alaska's inability to fulfill the terms and conditions of the Arrangement Agreement. In turn, Blue Alaska has claimed that the reciprocal break fee is not owed and has presented an unwillingness to honor ROK's claim. Legal steps are being taken by both parties to enforce their respective positions. ROK will continue to pursue any and all legal remedies to receive payment of the reciprocal break fee via release of the deposit in escrow as well as recover legal costs incurred to achieve this outcome.About ROKROK is primarily engaged in exploring petroleum and natural gas development activities in Alberta and Saskatchewan. It has offices located in both Regina, Saskatchewan, Canada and Calgary, Alberta, Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol "ROK".For further information, please contact:Bryden Wright, President and Chief Executive Officer
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Email: investor@rokresources.ca
Website: www.rokresources.caNon-IFRS MeasuresThe non-IFRS measures referred to above do not have any standardized meaning prescribed by International Financial Reporting Standards ("IFRS") and, therefore, may not be comparable to similar measures used by other companies. Management uses this non-IFRS measurement to provide its shareholders and investors with a measurement of the Company's financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used."Operating Income" is calculated by deducting royalties and operating expense from total sales revenue. Total sales revenue is comprised of oil and gas sales. "Funds From Operations" is calculated by adding other income and realized gains/losses on commodity contracts ("hedging") to Operating Income. "Net Surplus (Debt)" means the principal amount of its outstanding long-term obligations, such as the "credit facility" and "lease obligations" (each as defined within the Company's interim condensed financial statements for the nine months ended September 30, 2025), net of Adjusted Working Capital. "Adjusted Working Capital" is calculated as current assets less current liabilities, excluding current portion of debt, lease liabilities, RSU liabilities and decommissioning obligations as defined on the Company's statement of financial position within the Company's interim condensed financial statements for the nine months ended September 30, 2025. "Adjusted Net Surplus (Debt)" is calculated by removing the "current portion of risk management contracts" (as defined within the Company's interim condensed financial statements for the nine months ended September 30, 2025) from Net Surplus (Debt).Conversion MeasuresProduction volumes and reserves are commonly expressed on a barrel of oil equivalent ("boe") basis whereby natural gas volumes are converted at the ratio of 6 thousand cubic feet ("Mcf") to 1 barrel of oil ("bbl"). Although the intention is to sum oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants, boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf to 1 bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. In recent years, the value ratio based on the price of crude oil as compared to natural gas has been significantly higher than the energy equivalency of 6:1 and utilizing a conversion of natural gas volumes on a 6:1 basis may be misleading as an indication of value.Reserve DisclosureAll reserves information in this press release was prepared by an independent reserve evaluator, effective December 31, 2025, using the reserve evaluators December 31, 2025 forecast prices and costs in accordance with National Instrument 51-101 - Standards of Disclosure of Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook (the "COGE Handbook"). All reserve references in this press release are "Company gross reserves". Company gross reserves are the Company's total working interest reserves before the deduction of any royalties payable by the Company and before the consideration of the Company's royalty interests. It should not be assumed that the present worth of estimated future cash flow of net revenue presented herein represents the fair market value of the reserves. There is no assurance that the forecast prices and costs assumptions will be attained, and variances could be material. The recovery and reserve estimates of the Assets and ROK's crude oil, NGLs and natural gas reserves provided herein are estimates only and there is no guarantee that the estimated reserves will be recovered. Actual crude oil, natural gas and NGLs reserves may be greater than or less than the estimates provided herein.Abbreviationsbbls/d barrels per daybopd barrels per dayboepd barrels oil equivalent per dayIP Initial ProductionNGLs Natural Gas LiquidsMboe Thousands of barrels of oil equivalentMg/l Milligrams per LitreMMboe Millions of barrels of oil equivalentPDP Proved Developed ProducingTP Total Proved ReservesTPP Total Proved and Probable ReservesWTI West Texas Intermediate, the reference price paid in U.S. dollars at Cushing, Oklahoma for the crude oil standard gradeYoY Year over yearCA$ Canadian dollarsUS$ U.S. dollarsCautionary Statement Regarding Forward-Looking InformationThis news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans and the expected results thereof. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR+ at www.sedarplus.ca; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.SOURCE: ROK Resources Inc.View the original press release on ACCESS NewswireOriginal: ROK Resources Announces 2026 Capital Budget and 2025 Year-End Reserves

ROK Resources Announces Termination of Arrangement AgreementMarch 4, 2026 7:30 AM
ACCESS NewswireNOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATESREGINA, SK / ACCESS Newswire / March 4, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) announces that the previously announced plan of arrangement (the "Arrangement") and the go-private transaction (the "Transaction") between ROK, 17312539 Canada Inc. ( "539 Canada"), a wholly-owned subsidiary of Blue Alaska Oil Trading LLC ("Blue Alaska"), and 102220885 Saskatchewan Ltd. ("SpinCo"), wherein 539 Canada was to acquire all of the issued and outstanding shares of ROK, and SpinCo was to acquire all of the shares of EMP Metals Corp. that are currently owned by ROK has been terminated effective immediately.On March 2, 2026, Blue Alaska and 539 Canada served ROK with a notice (the "Notice") to immediately terminate the Arrangement Agreement governing the implementation of the Transaction. In the Notice, Blue Alaska and 539 Canada assert a unilateral ability to terminate the Arrangement Agreement. The Notice provided by Blue Alaska and 539 Canada and the unilateral termination of the Arrangement Agreement amount to a repudiation of the Arrangement Agreement. ROK, as a result of such repudiation by Blue Alaska and 539 Canada, has provided Blue Alaska and 539 Canada with notice of termination of the Arrangement Agreement. As a result of the termination of the Transaction, ROK will resume its regular operations focusing on delivering value to shareholders.In the Notice, Blue Alaska and 539 Canada also assert an entitlement to the $3.0 million deposit being held in escrow despite its agreement to the contrary in the amending agreement signed on December 31, 2025 (the "Amending Agreement"). Based on the terms of the Amending Agreement that state that ROK has earned the right to receive the deposit (plus interest), ROK categorically disagrees with the position being taken by Blue Alaska and 539 Canada in this regard. ROK will be pursuing any and all legal remedies in order to recover the deposit as well as its costs, on a solicitor and own client basis, in the event that the deposit is not released in accordance with the terms of the Amending Agreement.As of the date of this news release, the Company has no existing debt and an estimated cash and working capital of approximately $5.0 million, excluding the aforementioned $3.0 million deposit. Current oil and gas production of approximately 3,100 barrels of oil equivalent per day ("boe/d") with an additional 250 boe/d that is temporarily shut in. The Board of Directors of ROK will be meeting in the coming weeks to discuss the go forward strategy for the Company now that the Arrangement has been terminated and expects to be in a position to disseminate an additional press release around that time that provides guidance on the next steps for the Company.For more information on the Transaction, please see the news releases issued by ROK on September 23, 2025, November 6, 2025, November 13, 2025, December 11, 2025, and December 31, 2025 along with the ROK's management information circular dated October 29, 2025 prepared in connection with the Transaction, all of which are available under the ROK's profile at www.sedarplus.ca and on the Company's website at https://rokresources.ca/.About ROK Resources Inc.ROK is a Canadian energy company focused on petroleum and natural gas exploration and development, in Saskatchewan and Alberta. The Company is headquartered in Regina, Saskatchewan, with an additional office in Calgary, Alberta. ROK's Common Shares are listed on the TSXV under the trading symbol "ROK".For further information, please contact:Bryden Wright, President and Chief Executive Officer
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Email: investor@rokresources.ca
Website: www.rokresources.caCautionary Statement Regarding Forward-Looking InformationThis press release contains certain forward-looking statements and forward-looking information, as defined under applicable Canadian securities laws (collectively, "forward-looking statements"). In some cases, but not necessarily in all cases, forward-looking statements can be identified by the use of forward-looking terminology such as "will", "intend", "anticipate", "could", "should", "may", "might", "expect", "estimate", "forecast", "plan", "potential", "project", "assume", "contemplate", "believe", "shall", "scheduled", and similar terms and, within this press release, include, without limitation, any statements (express or implied) respecting: expectations regarding the receipt of the deposit from Blue Alaska and any possible court actions regarding same. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances are forward-looking statements.Forward-looking statements are not historical facts, nor guarantees or assurances of future performance but instead represent management's current beliefs, expectations, estimates and projections regarding future events and operating performance. Forward-looking statements are necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this release, are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, including, without limitation that: the deposit will be returned in accordance with the timing currently expected.Important factors that could cause actual results to differ, possibly materially, from those indicated by the forward-looking statements include, but are not limited to: the discretion of the courts with respect to any and all claims for the deposit being provided to ROK; and other risk factors identified under "Risk Factors" in the Company's periodic filings that the Company has made and may make in the future with the securities commissions or similar regulatory authorities in Canada, all of which are available under the Company's SEDAR+ profile at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect the Company. However, such risk factors should be considered carefully.Readers, therefore, should not place undue reliance on any such forward-looking statements. Further, these forward-looking statements are made as of the date of this press release and, except as expressly required by applicable law, ROK disclaims any intention and undertakes no obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required under applicable Canadian securities laws. All of the forward-looking statements contained in this release are expressly qualified by the foregoing cautionary statements.Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.SOURCE: ROK Resources Inc.View the original press release on ACCESS NewswireOriginal: ROK Resources Announces Termination of Arrangement Agreement

I am getting very positive on ROK, ROKRF. Hard to see anything bad. Down .55 to .31 Cad in about 8 months but they may be worth more now than then. Yet 44% lower cost now. Oil is higher than then and headed down then not up now.

Debt? Since March 2022, the Company has retired more than $55 million of debt while increasing its base production from 3,000 boepd to 3,750 boepd (>25%). The Company has retained a $22.5 million revolving credit facility, with current net debt estimated at $10 million.

Hedging Update: As a result of the early Term Loan repayment, the Company made the strategic decision to unwind certain commodity swap hedges placed in 2023, 2024 and 2025. BTW they made a bunch on hedges they put on in 90s. I think oil is now going to $100ish. They played it smart first time, think they are also this time.

Management for a $66 million Cad company is superb and proven. They have built and sold at a profit 3-4 oil companies in past. The COO is young.

How did they pay off all that debt? "Notably, since the FCL acquisition in March 2022, the Company has disposed of approximately $74 million in non-core assets representing ~31% of production and ~127% of the purchase price, after closing adjustments." https://rokresources.ca/assets/rok-resources-inc-investor-presentation-july-2023.pdf

BTW it was selling a tiny percent of Weyburn Unit (all that they had) for a lot. So they make a 27% profit in 1 year yet kept 69% of what they bot production wise, Wow! So the debt is almost gone now and they have 3.750 bopd production. Their usd mkt cap is $50 million. They sold $15 million Cad more than their entire current mkt cap and yet still have 69% of what they bot, just selling 31%. Seems they are good dealmakers.

2023E Net Debt/EBITDA is 0.2X, 2023E EV/EBITDA 2.4 and they are free cash flowing.

Did I get any of this wrong?