Rock Energy Inc.

Rock Energy Inc.

December 18, 2007 08:00 ET

Rock Energy Announces 2007 Year End Operations Update

CALGARY, ALBERTA--(Marketwire - Dec. 18, 2007) - Rock Energy Inc. (TSX:RE) ("Rock") is pleased to provide an operational update for 2007. During the year the company has participated in the drilling of 15 (11.2 net) wells including 8 (8.0 net) heavy oil wells, 5 (2.1 net) gas wells, and 2 (1.1 net) dry and abandoned wells for an overall success rate of 90%. At the present time Rock is drilling the last well of the year at Saxon (100% working interest), this drilling operation is expected to be completed before year end, and a successful result at Saxon will lead to a second location to be drilled in January 2008.

Rock is currently participating in tie-in operations of 3 (1.05 net) wells in Musreau and awaiting the expansion of the gathering system, gas processing and compression facilities. This infrastructure expansion is expected to be available by January 1, 2008. At Kakwa tie-in operations are underway for 2(0.68 net) wells drilled earlier this year, and at Elmworth Rock is proceeding with the tie in of two wells (0.90 net) which have recently been completed and tested. The company is currently producing approximately 2,600 boe per day, and the above mentioned operations are expected to add 500-700 boe per day of new production net to the company by the end of the first quarter of 2008.

The first quarter of 2008 will be a very active period for Rock as the company completes the tie in operations of the recently drilled and completed wells, and participates in the drilling of new wells at Saxon, Musreau, and Elmworth.


This news release shall not constitute an offer to sell or a solicitation of an offer to buy the security to be distributed pursuant to the plan of arrangement. Such securities will not be and have not been registered under the United States Security Act of 1993, and may not be offered or sold in the United States absent registration or an exemption from registration.

This press release contains forward-looking statements that involve known and unknown risks, uncertainties, assumptions and other factors, some of which are beyond Rock's control, that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. Rock believes that the expectations reflected in those forward-looking statements are reasonable at the time made but no assurance can be given that these expectations will prove to be correct and such forward-looking statements included in, or incorporated by reference into, this press release should not be unduly relied upon. These statements speak only as of the date of such information, as the case may be, and may be superseded by subsequent events. Rock does not intend, and does not assume any obligation, to update these forward-looking statements.

This press release contains references to barrels of oil equivalent (boe), boes maybe misleading, particularly if used in isolation. A boe conversion of 6 mcf to 1 barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

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Contact Information

  • Rock Energy Inc.
    Allen Bey
    President & CEO
    (403) 218-4380
    Rock Energy Inc.
    Peter D. Scott
    Vice President, Finance & CFO
    (403) 218-4380