on ROK Resources, Inc. (CVE:ROK)
ROK Resources Clears Credit Facility, Reports $4M Surplus
ROK Resources Inc. has successfully repaid its credit facility using proceeds from unwinding crude oil swap hedges, amounting to $6.29 million. This settlement contributes to an estimated working capital surplus of approximately $4 million by May 31, 2025.
Since 2022, ROK Resources has significantly reduced its debt, paying off over $85 million while simultaneously increasing its base production by 38%, reaching 4,000 boepd by the end of 2024. The company is in discussions with its lender to explore flexible financing options.
The company remains committed to managing free cash flow to bolster its balance sheet stability and pursue strategic growth when feasible, all while seeking alternative ways to enhance shareholder value.
R. E.
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