on ROK Resources Inc. (isin : CA71646V4091)
ROK Resources Files Financial Results and Management Discussion & Analysis for the First Quarter of 2024
ROK Resources Inc. has disclosed its financial and operational results for Q1 2024, revealing a stable performance despite a quiet quarter. The company managed to generate $6.3 million in Funds Flow, which was dedicated to reducing Adjusted Net Debt. Production averaged 4,278 boepd, a slight increase aligned with forecasts.
Operationally, ROK achieved a significant 18% reduction in operating costs, bringing them down to $27.55 per boe. Another notable achievement was the reactivation and optimization of 12 projects in Southeast Saskatchewan, leading to noteworthy capital efficiencies.
Looking ahead, ROK is gearing up for a drilling program targeting Frobisher light oil prospects, with a budget of around $10 million allocated for the first half of 2024. This plan, however, will depend on favorable weather and road conditions.
R. E.
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