ROK Resources Inc. is pleased to announce the completion of an independent reserves evaluation of its recently acquired Florence Asset, effective August 31st, 2021, in compliance with National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities and in accordance with the Canadian Oil and Gas Evaluation Handbook . The Florence Property Report does not include the Company's existing corporate reserve base [...]
ROK Resources Inc. is pleased to announce the completion of a multi-layer perforation and swab test of a vertical wellbore strategically located on one of Hub City Lithium Corp. Subsurface Crown Mineral Dispositions located in Saskatchewan. Laboratory testing returned lithium concentrations in the Duperow formation up to 96.3 mg/l., which exceeded the Company's target of 74.6 mg/l. Results from the Test Well The target [...]
ROK Resources Inc. is pleased to announce that it has entered into an Exploration Management Agreement with Hub City Minerals Corp. dated July 23, 2021 wherein ROK has been issued, for nil consideration, a twenty-five percent carried interest in a private entity, Hub City Lithium Corp. . The remaining seventy-five percent of Hub City is owned by Hub City Minerals. Hub City Lithium currently holds 119,739 acres of [...]
ROK Resources Inc. has filed its interim Financial Results and Management Discussion & Analysis for the six months ended June 30, 2021. Financial Statements Highlights include: In year-to-date Q2 2021, the Company realized production volume of 28,587 boe, resulting in crude and natural gas sales of $1,149,236 and net operating income of $448,114 after royalties and operating expenses. This equates to an operating netback [...]
ROK Resources Inc. announces that the Board of Directors has awarded a total of 4,150,000 options to directors, officers and consultants of the Company. The options are exercisable into common shares in the capital of the Company at an exercise price of $0.28 per share. The options vest as to one third immediately with an additional one third vesting on the first anniversary of the date of grant with the remainder vesting [...]
ROK Resources Inc. As per previous press releases, ROK has completed a series of acquisitions including the acquisition of producing assets in the Glen Ewen area effective June 2020 and the Florence area effective April 2021. Total consideration for the acquisitions was $4,835,000. As of May 2021, these assets are producing an estimated 240 Boepd. The recent $6.2 million equity and secured note financing has financed [...]
ROK Resources Inc. is pleased to announce that it has completed a second closing of $900,000 of senior secured notes of the Company bringing the total closed to date to $3,500,000 of the targeted $4,000,000 total. The Company has received commitments for the remaining $500,000 and is expected to close on that amount in the third week of July. Cameron Taylor, President and Chief Executive Officer, stated: "We are very [...]
ROK Resources Inc. is pleased to announce that it has closed on its previously announced acquisition of certain operated producing oil and gas assets in Southern Saskatchewan pursuant to the Company's March 17, 2021 press release. The Acquisition has an effective date of April 1, 2021. ROK has completed the remainder of the financing pursuant to a previously announced private placement for an additional $410,000 for an [...]
ROK Resources Inc. is pleased to announce that it intends to proceed with a $4 million financing consisting of senior secured notes of the Company , with each Note consisting of a principal amount of $1,000 and with interest payable thereon at a rate of 14% per annum and with a term of three years from the date of issuance thereof , but with the ability of the Company to fully repay the Notes at no penalty after two years [...]
Regina, Saskatchewan: ROK Resources Inc. is pleased to announce that it has closed on its previously announced bolt-on acquisition of certain non-operated producing oil and gas assets in Southern Saskatchewan, along with associated land leases, a facility, and related assets. The Acquisition has an effective date of April 1, 2021. Total consideration paid for the Asset was $1,500,000 in cash and 2,000,000 Class B common [...]
ROK Resources Inc. has filed its 2020 Year Financial Results, Reserve Report, and Management Discussion & Analysis. Financial Statements Highlights include: Generated oil and gas revenues of $0.6 million, which was the result of the sale of 30,489 boe at an average price of $19.63 per boe. Working capital of $1.6 million to be used in exploration activities and general operations. $ Year ended December 31, 2020 Year ended [...]
ROK Resources Inc. is pleased to announce that it has entered into a Purchase and Sale Agreement, dated March 26, 2021 to acquire certain producing oil and gas assets in Southeastern Saskatchewan. Closing of the acquisition is expected to occur on or about April 30, 2021 with an effective date of April 1, 2021, subject to the completion of a financing transaction to provide funding to purchase the Assets, as well as the [...]
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