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ROK Resources Announces Normal Course Issuer Bid, Revised 2025 Guidance, & Files Financial Results for the First Quarter of 2025
NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES REGINA, ...
About this update from Rok Resources, Inc. Class B
[{"type":"text","content":"ROK Resources Announces Normal Course Issuer Bid, Revised 2025 Guidance, & Files Financial Results for the First Quarter of 2025 NOT FOR DISTRIBUTION TO THE U.S. NEWSWIRE OR FOR DISSEMINATION IN THE UNITED STATES REGINA, SK / ACCESS Newswire / May 15, 2025 / ROK Resources Inc. (\"ROK\" or the \"Company\") (TSXV:ROK)(OTCQB:ROKRF) is pleased to announce, that in parallel with the recent unwind of its crude oil swap hedges and repayment of the drawn balance of its credit facility, the Company is in the process of restructuring the existing credit facility to provide the Company with further flexibility. As part of this restructuring, the Company aims to maximize shareholder value through the introduction of a Normal Course Issuer Bid (the \"NCIB\") while maintaining disciplined capital allocation during ongoing pricing volatility.Normal Course Issuer BidGiven the restructured credit facility outlined below, the Company intends to initiate a NCIB to purchase and cancel up to 10% of its outstanding Public Float (as such term is defined in the policies of the TSX Venture Exchange) (\"Common Shares\") during a one-year period from the date of acceptance of the NCIB from the TSX Venture Exchange (\"TSXV\"). The Board of Directors of the Company has authorized the NCIB because it believes that it is in the best interests of the Company and its shareholders, and that it is an efficient use of the Company's financial resources to purchase its Common Shares when the market price of the Common Shares does not fully reflect their underlying value. The implementation of the NCIB and the terms thereof is subject to approval by the TSXV. Further details regarding same will be provided in a future press release.2025 Revised Guidance SummaryThe Company will continue to prioritize maintaining stable production with Funds Flow directed to increasing the Company's working capital surplus and/or be used to facilitate the purchase and cancelation of its outstanding common shares, as defined by the NCIB. US$65 WTICA$2.50GJ/AECO1, 3 US$75 WTI CA$2.50GJ/AECO1,3 Net Wells 6.0 10.0 Capital Expenditures (million) $12.6 $19.2 Daily Average Production (boepd)2 3,700 3,900 Q4 2025 Production (boepd)2 3,900 4,300 Funds From Operations (million) $31.6 $38.3 Working Capital Surplus (million) $2.1 $2.2 Notes:0.72 CA$/US$ FX66% liquidsPrice assumptions effective Jun...