ROK Resources Files Financial Results for the Third Quarter of 2025 and Provides Update on Going Private Transaction

Executive Summary

• ROK Resources filed its nine‑month interim financial results (ended Sep 30, 2025) and provided a material update on the going‑private arrangement, now expected to close before 31 Dec 2025.
• Q3 2025 production averaged 3,414 boe/d (66% liquids) with Funds from Operations of $4.1 M; adjusted net surplus of $2.7 M versus $10.6 M adjusted net debt at year‑end 2024.
• The Normal Course Issuer Bid (NCIB) repurchased and cancelled 2,005,500 shares at an average price of $0.192, leaving 217,763,815 shares outstanding.

Key Details

• Going‑Private Transaction
• Anticipated closing: prior to 31 Dec 2025.
• Special shareholders’ meeting scheduled for 10 Dec 2025 to consider the plan of arrangement.

• Proxy materials mailed and posted on SEDAR+ and company website.

• Q3 2025 Financial Highlights

• Funds from Operations: $4.1 M (vs. $7.9 M YTD 2025).
• Net income (loss): $(2,199 K) for Q3 2025; $10,040 K YTD 2025.
• Adjusted Net Surplus: $2.7 M (down from $10.6 M adjusted net debt at YE‑2024).

• Capital expenditures: $3.6 M for two re‑entries and one new well.

• Operating Performance

• Average production Q3 2025: 3,414 boe/d (66% liquids).
• Production composition: Crude oil 1,929 bbl/d; NGLs 340 boe/d; Natural gas 6,871 mcf/d.
• Operating netback Q3 2025: $10.25/boe (vs. $17.24/boe Q3 2024).

• Funds from Operations per boe Q3 2025: $13.03/boe.

• NCIB Activity

• Shares repurchased/cancelled to date: 2,005,500 at avg. $0.192/share (June 24 – Sep 30 2025).

• Remaining shares outstanding: 217,763,815.

• Liquidity & Debt

• Cash & cash equivalents (Sept 30 2025): $6.688 M.
• Adjusted working capital: $2.922 M.

• Credit facility balance: $0 (no borrowing reported).

• Other Notable Metrics

• Oil & gas sales Q3 2025: $16.137 M; royalties $(2.972 M); operating expenses $(9.947 M).
• Realized gain on commodity contracts Q3 2025: $498 K.
• Operating income Q3 2025: $3.218 M; operating margin 19.9%.

Notable Quotes

• Bryden Wright, President & CEO: “Our interim results demonstrate disciplined capital management and a clear path to completing the going‑private transaction while maintaining production stability.”

All forward‑looking statements are subject to risks and uncertainties detailed in the release.