ROK Resources Announces Return of Capital and Expanded 2026 Drilling Program

REGINA, SK / ACCESS Newswire / October 14, 2026 / ROK Resources Inc. ("ROK" or the "Company") (TSXV:ROK)(OTCQB:ROKRF) is pleased to provide an update on 2026 operations and an expanded Q4 2026 capital program, following the sale of two non-core assets. These dispositions, together with operational success and favourable market conditions, have strengthened the Company's cash position and reduced its abandonment and reclamation obligations. As a result, the Company has elected to expand its 2026 drilling program in core Southeast Saskatchewan and deliver a return of capital to shareholders of $0.03 per common share.

Operational Update & Expanded Drill Program

ROK continues to advance its 2026 drilling program, having drilled 10 gross (8.9 net) wells to date, of which 9 gross (7.9 net) are currently on production. Adverse weather conditions across Southeast Saskatchewan delayed drilling and completion activities, resulting in later-than-anticipated on-stream dates for new wells. Over the most recent 30-day period, production additions from the 2026 drilling program averaged approximately 675 boepd, comprising 88% oil and natural gas liquids. Early production results continue to validate the Company's expectations for its core Southeast Saskatchewan drilling inventory, with successful well performance highlighting additional drilling opportunities for 2027.

Complementing this operational progress, ROK completed the sale of two non-core assets, generating aggregate cash consideration of $9.6 million, net of adjustments, and reducing the Company's abandonment and reclamation obligations ("ARO") by $10.4 million, a 16% reduction in corporate ARO. These dispositions have strengthened the Company's cash position, consolidated its asset base and reduced future abandonment and reclamation costs, providing additional financial flexibility to expand its core drilling program.

ROK expects to drill two additional wells in late 2026, both of which are expected to be high-impact wells, bringing its full-year drilling program to 12 gross (10.9 net) wells. Given strong commodity prices and heightened industry activity, the timing of the remaining capital program remains subject to rig and oilfield services availability. However, the Company currently anticipates bringing these wells on production before year-end 2026.

After accounting for the return of capital and increased investment in its core drilling program, ROK projects an Adjusted Net Surplus of $6.4 million at year-end 2026. This financial flexibility positions the Company to continue advancing its drilling inventory while maintaining a disciplined approach to capital allocation.

The Company's updated 2026 outlook is summarized below:

Notes:

1. 0.70 CA$/US$ FX
2. 66% liquids
3. Price assumptions effective October 1, 2026
4. US$85 WTI CA$1.75/GJ AECO
5. Reduction of $10.4 million in Corporate ARO represents a 16% YoY reduction, inclusive of new drilling locations in 2026
6. Annualized daily production includes production from the expanded capital program, estimated on-stream in late Q4 2026
7. The updated outlook does not include potential proceeds of $3.0 million from the deposit of the terminated transaction (previously announced), nor does it include proceeds from the equity ownership in EMP Metals Corp. ("EMP Metals"), which at present date is valued at approximately $7.0 million based on the trading price of EMPS.CN.

Return of Capital

The Board of Directors of ROK has approved a return of capital of $0.03 per common share, which will be payable to shareholders in December 2026, assuming approval at the upcoming annual general and special meeting of shareholders to be held on December 3, 2026 (the "AGM"). The expected date of record for the return of capital will be December 4, 2026, subject to the receipt of all necessary regulatory approvals.

At the AGM, shareholders will be asked to approve a return of capital in an amount of up to $0.05 per common share. The Company is seeking this approval to allow for maximum flexibility in the event that business conditions and the Company's cash flow permit the Company to issue additional amounts as a return of capital. However, at this time, the Company anticipates a return of capital of $0.03 per common share to occur in December following shareholder approval at the AGM and will re-evaluate whether any future returns of capital are possible. Information concerning the return of capital, including the expected payment date and the date used to determine shareholders eligible to receive the return of capital, will be provided in a future press release. Detailed information about the return of capital will also be provided in the information circular to be sent to shareholders in advance of the AGM and which will be filed under the Company's profile on SEDAR+.

The return of capital reflects the Company's commitment to returning capital to shareholders while continuing to invest in its core operating areas.

Commodity Hedging

The Company has put commodity hedges in place on 35% of the Company's base oil production through a costless collar for a term of five months, providing downside protection at CA$115.00 per barrel while retaining exposure to higher oil prices up to CA$140.10 per barrel, with no upfront premium. These hedges reduce exposure to commodity price volatility and provide greater certainty over a portion of the Company's future cash flows, supporting funding of its expanded drilling program and preserving financial flexibility as ROK balances reinvestment in its core assets with returns to shareholders. The Company will continue to evaluate its hedging position in the context of prevailing market conditions, capital requirements and its financial position.

Updated Corporate Presentation

In conjunction with this operational update and revised guidance, the Company has updated its Corporate Presentation to reflect its current operations, asset portfolio, financial position and outlook. The updated Corporate Presentation is available on the Company's website.

About ROK

ROK is primarily engaged in petroleum and natural gas exploration and development activities in Alberta and Saskatchewan. It has offices located in both Regina, Saskatchewan, Canada and Calgary, Alberta, Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading 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: investor@rokresources.ca
Website: www.rokresources.ca

Non-IFRS Measures

The non-IFRS measures referred to above do not have any standardized meaning prescribed by IFRS Accounting Standards ("IFRS") and, therefore, may not be comparable to similar measures used by other companies. Management uses this non-IFRS measurement to provide its shareholders and investors with a measurement of the Company's financial performance and are not intended to represent operating profits nor should they be viewed as an alternative to cash provided by operating activities, net income or other measures of financial performance calculated in accordance with IFRS. The reader is cautioned that these amounts may not be directly comparable to measures for other companies where similar terminology is used.

"Operating Income" is calculated by deducting royalties and operating expense from total sales revenue. Total sales revenue is comprised of oil and gas sales. "Funds From Operations" is calculated by adding other income and realized gains/losses on commodity contracts ("hedging") to Operating Income. "Net Surplus (Debt)" includes the undiscounted face value of all indebtedness of the Company, such as the credit facility and lease obligations (each as defined within the Company's interim condensed consolidated financial statements for the six months ended June 30, 2026), net of Adjusted Working Capital. "Adjusted Working Capital" is calculated as current assets less current liabilities, excluding current portion of debt, lease liabilities, decommissioning obligations, RSU liabilities, and assets and liabilities held for sale as defined on the Company's statement of financial position within the Company's interim condensed consolidated financial statements for the six months ended June 30, 2026. "Adjusted Net Surplus (Debt)" is calculated by removing the mark-to-market fair value of the current portion of risk management contracts and lease obligations (each as defined within the interim condensed consolidated financial statements for the six months ended June 30, 2026) from Net Surplus (Debt).

Conversion Measures

Production volumes and reserves are commonly expressed on a barrel of oil equivalent ("boe") basis whereby natural gas volumes are converted at the ratio of 6 thousand cubic feet ("Mcf") to 1 barrel of oil ("bbl"). Although the intention is to sum oil and natural gas measurement units into one basis for improved analysis of results and comparisons with other industry participants, boe's may be misleading, particularly if used in isolation. A boe conversion ratio of 6 Mcf to 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. In recent years, the value ratio based on the price of crude oil as compared to natural gas has been significantly higher than the energy equivalency of 6:1 and utilizing a conversion of natural gas volumes on a 6:1 basis may be misleading as an indication of value.

Abbreviations

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 and the expected results thereof. 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; 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.sedarplus.ca; 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.

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.