ROK Resources Inc. (“ROK” or the “Company“) is pleased to announce year to date drilling results and an update to 2024 guidance.

2024 DRILLING RESULTS
Year to date, the Company has successfully drilled 6 gross (4.95 net) wells, resulting in two of the best oil wells drilled in Saskatchewanin July 20241, with the two wells averaging more than 250 boepd2 IP30 and 230 boepd2 IP60. In addition, the most recent well drilled in the program has produced approximately 250 boepd2 IP30. The Company’s 2024 wells, on average, have outperformed internal type curves on both IP30 and IP60 bases. The Company’s successful drill program has resulted in the discovery of three independent fields and continues to position the Company for future production and reserve growth.

2024 GUIDANCE UPDATE
The Company intends to drill an additional 3 gross (3 net) wells in 2024, targeting reserve and inventory growth in the Frobisher and Midale formations. Given the Company’s recent drilling success, construction of a multi-well facility is scheduled for Q4 2024, which will lower operating costs and allow for continued optimization of existing wells.

Given the volatility in the North American oil and natural gas market the Company has elected to reduce capital expenditures by delaying the drilling of 4 net wells in Saskatchewan, thereby reducing capital expenditures by $4.0 million for the balance of 2024. Updated 2024 guidance reflects a 17% reduction in capital expenditures and Adjusted Net Debt while average production only decreases by 4% when compared to previous guidance.

Further, the Company remains well positioned to mitigate market volatility with hedges at weighted average swap prices at CA$97.57/bbl WTI and CA$2.84/mmbtu natural gas, respectively.

LITHIUM SHARE EXCHANGE
The Company is pleased to announce the completion of its previously announced share exchange with EMP Metals Corp. (“EMP Metals”) wherein the Company has exchanged its common shares of Hub City Lithium Corp. (“Hub City Lithium”), a private entity, in return for 18,925,000 common shares of EMP Metals, a public entity which trades on the Canadian Securities Exchange under the trading symbol “EMPS”. The Company’s ownership in EMP Metals is 17.11% basic.

ROK Resources Inc. (“ROK” or the “Company“) is pleased to announce year to date drilling results and an update to 2024 guidance.

2024 DRILLING RESULTS
Year to date, the Company has successfully drilled 6 gross (4.95 net) wells, resulting in two of the best oil wells drilled in Saskatchewanin July 20241, with the two wells averaging more than 250 boepd2 IP30 and 230 boepd2 IP60. In addition, the most recent well drilled in the program has produced approximately 250 boepd2 IP30. The Company’s 2024 wells, on average, have outperformed internal type curves on both IP30 and IP60 bases. The Company’s successful drill program has resulted in the discovery of three independent fields and continues to position the Company for future production and reserve growth.

2024 GUIDANCE UPDATE
The Company intends to drill an additional 3 gross (3 net) wells in 2024, targeting reserve and inventory growth in the Frobisher and Midale formations. Given the Company’s recent drilling success, construction of a multi-well facility is scheduled for Q4 2024, which will lower operating costs and allow for continued optimization of existing wells.

Given the volatility in the North American oil and natural gas market the Company has elected to reduce capital expenditures by delaying the drilling of 4 net wells in Saskatchewan, thereby reducing capital expenditures by $4.0 million for the balance of 2024. Updated 2024 guidance reflects a 17% reduction in capital expenditures and Adjusted Net Debt while average production only decreases by 4% when compared to previous guidance.

Further, the Company remains well positioned to mitigate market volatility with hedges at weighted average swap prices at CA$97.57/bbl WTI and CA$2.84/mmbtu natural gas, respectively.

LITHIUM SHARE EXCHANGE
The Company is pleased to announce the completion of its previously announced share exchange with EMP Metals Corp. (“EMP Metals”) wherein the Company has exchanged its common shares of Hub City Lithium Corp. (“Hub City Lithium”), a private entity, in return for 18,925,000 common shares of EMP Metals, a public entity which trades on the Canadian Securities Exchange under the trading symbol “EMPS”. The Company’s ownership in EMP Metals is 17.11% basic.