ROK Files 2020 Financial Results, Reserve Report, and Management Discussion & Analysis
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
REGINA, SK / ACCESSWIRE / April 23, 2021 / ROK Resources Inc. (“ROK” or the “Company“) (TSXV:ROK) 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.
|
$ (Canadian dollars) |
Year ended |
Year ended |
|
Working Capital |
1,596,525 |
1,227,674 |
|
Property Plant & Equipment |
3,434,274 |
– |
|
Total Assets |
6,564,868 |
2,201,075 |
|
Total Oil & Natural Gas Sales |
598,448 |
– |
|
Funds used in Operations |
847,568 |
373,657 |
|
Net Loss and Comprehensive Loss |
1,202,882 |
562,889 |
|
Net Loss Per Share, basic and diluted |
0.03 |
0.02 |
All amounts expressed above are in Canadian dollars.
Complete reports and statements are available on SEDAR at www.sedar.com and on the Company website www.rokresources.ca .
Oil and Gas Disclosures
Management uses oil and gas metrics for its own performance measurements and to provide shareholders with measures to compare the Company’s operations over time. Readers are cautioned that the information provided by these metrics, or that can be derived from the metrics presented in this press release, should not be relied upon for investment or other purposes.
The term “boe” or barrels of oil equivalent may be misleading, particularly if used in isolation. A boe conversion ratio of six thousand cubic feet of natural gas to one barrel of oil equivalent (6 Mcf:1 bbl) is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. Additionally, given that the value ratio based on the current price of crude oil, as compared to natural gas, is significantly different from the energy equivalency of 6:1; utilizing a conversion ratio of 6:1 may be misleading as an indication of value.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility of the adequacy or accuracy of this release.
FOR FURTHER INFORMATION, PLEASE CONTACT:
ROK Resources Inc.
Cam Taylor, Chairman CEO
Email: cam@rokresources.ca
Lynn Chapman, CFO
Email: lynn@rokresources.ca
SOURCE: ROK Resources Inc.
View source version on accesswire.com:
https://www.accesswire.com/642070/ROK-Files-2020-Financial-Results-Reserve-Report-and-Management-Discussion-Analysis