Star Metro - ROK Resources Announces Sale of Non-Core Southeast Saskatchewan Asset

REGINA, SK / ACCESS Newswire / June 23, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) is pleased to announce that it has entered into an asset purchase and sale agreement dated June 22, 2026 (the "Agreement") with an arms length third party (the "Purchaser") for the disposition of certain non-core assets located in Southeast Saskatchewan (the "Assets").

Pursuant to the Agreement, ROK will receive cash consideration of $8 million, subject to customary closing adjustments (the "Transaction").

In the next twelve months, as of June 2026, the Assets are expected to produce 280 boepd (97% liquids), representing approximately 8% of ROK's previously forecasted 2026 average production.

"The Transaction represents another step in ROK's ongoing strategy of optimizing its portfolio and allocating capital toward opportunities expected to generate meaningful returns for shareholders," said Bryden Wright, President and Chief Executive Officer.

Transaction Highlights

• Strategic divestiture of non-operated assets with limited upside

  • Increases ROK's focus on core operated assets with capital allocation scheduled in 2026

  • Divestiture of 3.5 proved plus probable drilling locations with ROK retaining 97% of its drilling inventory for future development

• Attractive metrics accelerates value for ROK shareholders

  • Cash consideration of $8 million represents a premium to NPV10⁽¹⁾ of proved developed producing reserves

  • Transaction value of approximately $28,571 per flowing barrel of oil equivalent based on forecasted next twelve months of production

  • Bolsters ROK's cash position and provides flexibility for additional capital development, acquisitions and/or capital return to shareholders

• Significant reduction in corporate asset retirement obligations ("ARO")

  • Divestiture of the Assets reduces ROK's total corporate ARO by 16%

  • Reduces ROK's non-operated ARO spend by approximately 50% annually, allowing the Company to focus on operated retirement obligations

Notes to Reader:

1. Internal reserve evaluation utilizing strip pricing as of June 15, 2026

Transaction Details

The Transaction has an effective date of June 1, 2026 and is expected to close on or before July 31, 2026, subject to customary closing conditions and receipt of all required regulatory approvals. The Transaction is not subject to any financing condition.

Advisors

Peters & Co. Limited acted as exclusive financial advisor to ROK in connection with the Transaction. McDougall Gauley LLP acted as legal counsel to the Company.

About ROK Resources Inc.

ROK is a Canadian energy company engaged in the exploration, development and production of petroleum and natural gas assets in Saskatchewan and Alberta. The Company is headquartered in Regina, Saskatchewan, with an additional office in Calgary, Alberta. ROK's common shares trade on the TSX Venture Exchange under the symbol "ROK".

For further information, please contact:

Bryden Wright, President and Chief Executive Officer
Jared Lukomski, Senior Vice President, Land & Business Development
Phone: (306) 522-0011
Email: [email protected]
Website: www.rokresources.ca

Cautionary Statement Regarding Forward-Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation that are not historical facts. Forward-looking statements involve risks, uncertainties, and other factors that could cause actual results, performance, prospects, and opportunities to differ materially from those expressed or implied by such forward-looking statements. Forward-looking statements in this news release include, but are not limited to, statements with respect to the Company's objectives, goals, or future plans as a result of the Transaction. Forward-looking statements are necessarily based on several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to general business, economic and social uncertainties; the accuracy of well testing results; litigation, legislative, environmental, and other judicial, regulatory, political and competitive developments; delay or failure to receive board, shareholder or regulatory approvals; those additional risks set out in ROK's public documents filed on SEDAR at www.sedar.com; and other matters discussed in this news release. Although the Company believes that the assumptions and factors used in preparing the forward-looking statements are reasonable, undue reliance should not be placed on these statements, which only apply as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. Except where required by law, the Company disclaims any intention or obligation to update or revise any forward-looking statement, whether because of new information, future events, or otherwise.

Abbreviations

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.

SOURCE: ROK Resources Inc.

View the original press release on ACCESS Newswire

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