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ROK Resources Announces Record Production & Files Financial Results and Management Discussion & Analysis for the Third Quarter of 2022
REGINA, SK / ACCESSWIRE / November 21, 2022 / ROK Resources Inc. (" ROK " or the " Company "...
About this update from Rok Resources, Inc. Class B
[{"type":"text","content":"ROK Resources Announces Record Production & Files Financial Results and Management Discussion & Analysis for the Third Quarter of 2022REGINA, SK / ACCESSWIRE / November 21, 2022 / ROK Resources Inc. (\"ROK\" or the \"Company\") (TSXV:ROK) has filed its interim Financial Results and Management Discussion & Analysis for the three and nine months ended September 30, 2022.Financial and Operating HighlightsIn Q3 2022, the Company realized production volume of 321,989 total boe (3,500 boe/d), resulting in crude and natural gas sales of $26.6 million and funds from operations of $14.5 million. This equates to an operating netback, after hedging, per boe of $43.10 and an operating income profit margin of 52.3%.Financial Q3 2022 Q3 2021 YTD 2022 YTD 2021 Net income (loss) 10,810,729 (919,222) 84,573,899 (1,677,438)Basic ($/share) 0.05 (0.01) 0.51 (0.03)Diluted ($/share) 0.05 (0.01) 0.50 (0.03)Funds flow 11,581,159 (44,430) 31,161,162 (359,466)Basic ($/share) 0.06 (0.00) 0.19 (0.01)Diluted ($/share) 0.05 (0.00) 0.18 (0.01)Expenditures on property, plant and equipment 11,938,870 1,535,102 16,441,696 1,650,334 Operating Operating Income Oil and Natural Gas Sales 26,554,511 1,075,829 63,386,401 2,225,065 Royalties (4,303,644) (205,357) (10,185,960) (425,826)Operating Expenses (9,926,624) (473,924) (17,551,783) (954,577)Operating Income 12,324,243 396,548 35,648,658 844,662 Realized gain on commodity contracts 1,552,524 - 1,788,499 - Processing and other income 627,612 - 1,212,622 - Funds from operations 14,504,379 396,548 38,649,779 844,662 Average daily production Crude oil (bbl/d) 2,170 130 1,644 98 NGLs (boe/d) 240 36 163 38 Natural gas (mcf/d) 6,535 179 4,206 215 Total (boe/d) 3,500 197 2,507 171 Operating Netback per boe Oil and Natural Gas Sales 82.47 59.42 92.60 47.65 Royalties (13.37) (11.34) (14.88) (9.12)Operating Expenses (30.83) (26.17) (25.64) (20.44)Operating Netbacks ($/boe) 38.27 21.91 52.08 18.09 Operating Netbacks, after hedging ($/boe) 43.10 21.91 54.69 18.09 Operating Income Profit Margin 46.4% 36.9% 56.2% 38.0%Operating Income Profit Margin, after hedging 52.3% 36.9% 59.1% 38.0%Share information Common shares outstanding, end of period 201,247,706 74,471,576 201,247,706 74,471,576 Weighted average basic shares outstanding 199,711,392 74,471,576 164,762,938 66,142,730 Weighted average diluted shares outstanding 222,39...