Rock Energy Inc.
TSX : RE

Rock Energy Inc.

March 30, 2009 19:12 ET

Rock Energy Announces Renewal of Bank Lines at $51 Million and Staff Changes

CALGARY, ALBERTA--(Marketwire - March 30, 2009) - Rock Energy Inc. (TSX:RE) "Rock" is pleased to announce that National Bank of Canada has approved the renewal of it's borrowing lines at $51 million, our current debt is estimated to be $39 million.

Rock also wishes to announce that Mr. Peter Scott, Vice President of Finance and CFO, has tendered his resignation to pursue other opportunities. Rock would like to thank Peter for his valuable contribution to the company over the last 6 years and wishes him all the best in his future endeavors.

Rock is pleased to announce that Mr. John Van de Pol will be joining the company on April 13, 2009 as the Vice President of Finance and CFO. John has over 29 years of experience in the industry, the most recent of which was as the CFO of Northrock Resources Ltd. John was Northrock's only CFO from 1993 to its sale to TAQA in 2007 while the company grew from 500 boepd to over 40,000 boepd. In conjunction with this addition to the executive team, Rock has agreed to issue 300,000 flow through shares to Mr. Van de Pol at a price of $0.73.

Advisory

Certain statements and information contained in this press release, including but not limited to management's assessment of Rock's future plans and operations, production, reserves, revenue, commodity prices, operating and administrative expenditures, funds from operations, capital expenditure programs and debt levels contain forward-looking statements. All statements other than statements of historical fact may be forward looking statements. These statements, by their nature, are subject to numerous risks and uncertainties, some of which are beyond Rock's control including the effect of general economic conditions, industry conditions, changes in regulatory and taxation regimes, volatility of commodity prices, escalation of operating and capital costs, currency fluctuations, the availability of services, imprecision of reserve estimates, geological, technical, drilling and processing problems, environmental risks, weather, the lack of availability of qualified personnel or management, stock market volatility, the ability to access sufficient capital from internal and external sources and competition from other industry participants for, among other things, capital, services, acquisitions of reserves, undeveloped lands and skilled personnel that may cause actual results or events to differ materially from those anticipated in the forward looking statements. Such forward-looking statements, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated in the statements made and should not unduly be relied on. These statements speak only as of the date of this press release. Rock does not intend and does not assume any obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

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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