Mr. Bryden Wright reports

ROK RESOURCES ANNOUNCES RETURN OF CAPITAL AND EXPANDED 2026 DRILLING PROGRAM

ROK Resources Inc. has provided an update on 2026 operations and an expanded Q4 (fourth quarter) 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 southeastern Saskatchewan and deliver a return of capital to shareholders of three cents per common share.

Operational update and expanded drill program

ROK continues to advance its 2026 drilling program, having drilled 10 gross (8.9 net) wells to date, of which nine gross (7.9 net) are currently on production. Adverse weather conditions across southeastern 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 barrels of oil equivalent per day (boepd), comprising 88 per cent oil and natural gas liquids. Early production results continue to validate the company's expectations for its core southeastern 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-per-cent 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 oil field 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 in an attached table.

Return of capital

The board of directors of ROK has approved a return of capital of three cents per common share, which will be payable to shareholders in December, 2026, assuming approval at the upcoming annual general and special meeting (AGM) of shareholders to be held on Dec. 3, 2026. The expected date of record for the return of capital will be Dec. 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 five cents 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 three cents 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 news 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 per cent of the company's base oil production through a costless collar for a term of five months, providing downside protection at $115 per barrel while retaining exposure to higher oil prices up to $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 financing 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 Resources Inc.

ROK is primarily engaged in petroleum and natural gas exploration and development activities in Alberta and Saskatchewan. It has offices located in both Regina, Sask., Canada, and Calgary, Alta., Canada. ROK's common shares are traded on the TSX Venture Exchange under the trading symbol ROK.

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