ROK Resources Inc. Confirms Closing of Previously Announced Transformational $72 Million Acquisition of Sustainable, Producing, Oil-Weighted Assets

Mar 08, 2022

REGINA, SK / ACCESSWIRE / March 7, 2022 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK, Financial) is pleased to announce that it has successfully closed the previously announced transformational acquisition (the "Acquisition") of certain oil & gas assets (the "Assets"), primarily in Saskatchewan and Alberta, from Federated Co-operatives Limited and its wholly-owned subsidiary 2214896 Alberta Ltd. ("FCL"). The Assets include approximately 2,962 boe/d (72% liquids)[1] of low-decline, oil-weighted production in Southern Saskatchewan and Alberta which, at US$75/bbl WTI pricing, is expected to generate an operating netback of $37/boe resulting in annualized net operating income ("NOI") of $40 million, implying a 1.8x TV / NOI multiple.

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