News for 'RCKE' - (Rock Energy Provides Progress Update on Financial Statement Audits)
HOUSTON, Jan 25, 2012 (BUSINESS WIRE) -- Rock Energy Resources, Inc. (symbol:
RCKE.PK) provided an update today on progress in providing RCKE shareholders
with audited financial statements through the end of ! calendar 2011.
On January 11, 2012, the Company submitted to the Securities and Exchange
Commission a request for a comprehensive Form 10k filing of its results for the
calendar years ending 2009, 2010 and 2011 inclusive of interim reports for each
calendar 2011 quarter and prior year. Thereafter the Company received a consent
letter dated January 12, 2012 from the Securities and Exchange Commission
allowing RCKE to present its delinquent filings to such a single comprehensive
Form 10k filing. Investors may access a complete copy of the SEC letter and all
conditions contained therein, which is on file with the Commission under a Form
8K filed as of this date and can be accessed at www.sec.gov. Receipt of
permission from the SEC for this comprehensive filing is expected to advance the
previous guidance that updated financials would be available in ninety days.
Pre-audit work is currently scheduled to be completed by January 30, 201! 2. The
Company's auditors have already begun preliminary work on th eir process and
subject to meeting the January 30 deadline audited financials should be
available by the end of February 2012.
In conjunction with the audit process, the Company noted that its prior senior
secured debt of approximately $14 million (inclusive of accrued interest) was
extinguished effective 12/31/10.
Commenting on the progress in financial reporting compliance, Rocky V. Emery,
Chairman and CEO of RCKE stated, "We are very pleased with the progress we are
making on this important front for our shareholders. Our group is diligently
performing and coordinating requisite tasks to bring ourselves into full
compliance well ahead of our previous expectations. Our ability to file a
comprehensive Form 10k is an important step for us. We are grateful to the
Commission for allowing us to accelerate our compliance filings. Likewise, the
extinguishment of the prior Senior Secured debt was a critical step in our
ability to i! ntegrate our now 100% owned subsidiary American Patriot Gold under
the RCKE umbrella."
Cautionary Statements
CAUTIONARY STATEMENT REGARDING FUTURE RESULTS AND FORWARD-LOOKING STATEMENTS:
This Web site and press release contains information. Including statements as to
the Company's future financial or operating performance, that constitute
"forward-looking statements" within the meaning of Section 27A of the Securities
Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934,
as amended, which statements are intended to be covered by the safe harbor
created by such sections and other applicable laws. All statements, other than
statements of historical fact, are forward-looking statements. The words
"believe", "expect", "anticipate", "contemplate", "target", "plan", "intends",
"continue", "budget", "estimate", "may", "will", "schedule" and similar
expressions identify forward-looking statements. Forward-loo! king statements are
necessarily based upon a number of estimates an d assumptions that, while
considered reasonable by the Company, are inherently subject to significant
business, economic and competitive uncertainties and contingencies. Known and
unknown factors could cause actual results to differ materially from those
projected in the forward-looking statements. Such forward-looking statements
include, without limitation: (i) estimates of future mineral production, results
and sales; (ii) estimates of future costs applicable to sales, other expenses
and taxes, for specific operations and on a consolidated basis; (iii) estimates
of future capital expenditures, construction, production or closure activities;
(iv) statements regarding future exploration potential, asset potential,
potential resource expansion and targeted production; (v) estimates and
expectations regarding reserves, nonreserve mineralization and potential ounces;
(vi) statements regarding fluctuations in capital and currency markets; (vii! )
statements regarding potential cost savings, productivity, operating
performance, and cost structure; (viii) expectations regarding the development,
growth, mine life, production and costs applicable to sales and exploration
potential of the Company's projects; and (ix) expectations regarding the impacts
of operating technical or geotechnical issues in connection with the Company's
projects or operations. Estimates or expectations of future events or results
are based upon certain assumptions, which may prove to be incorrect. Such
assumptions, include, but are not limited to: (i) there being no significant
change to current geotechnical, metallurgical, hydrological and other physical
conditions; (ii) permitting, development, operations and expansion of the
Company's projects being consistent with current expectations and mine plans;
(iii) certain price assumptions for gold, copper and oil; (iv) certain effective
tax rate assumptions ! (v) prices for key supplies being approximately consistent
with cur rent levels; and (vi) the accuracy of our current mineral reserve and
mineral resource estimates. Where the Company expresses or implies an
expectation or belief as to future events or results, such expectation or belief
is expressed in good faith and believed to have a reasonable basis. However,
forward-looking statements are subject to risks, uncertainties and other
factors, which could cause actual results to differ materially from future
results expressed, projected or implied by such forward-looking statements. Such
risks include, but are not limited to, gold and other metals price volatility,
currency fluctuations, increased production costs and variances in ore grade or
recovery rates from those assumed in mining plans, political and operational
risks in the jurisdiction in which we operate, changes in governmental
regulation, including taxation, environmental, permitting and other regulations,
and judicial outcomes The Company does! not undertake any obligation to release
publicly revisions to any "forward-looking statement," to reflect events or
circumstances after the date of publication, or to reflect the occurrence of
unanticipated events, except as may be required under applicable securities
laws.
SOURCE: Rock Energy Resources, Inc.
CONTACT:
Rock Energy Resources, Inc.
Rocky V Emery, Chairman & CEO
Managing Member American Patriot Gold
2607 Sara Ridge
Katy, Texas 77450
www.americanpatriotgold.com
Remery@americanpatriotgold.com
O: 832-301-5968
C: 832-691-7991
Copyright Business Wire 2012
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KEYWORD: United States
North America
&nb! sp; & nbsp; Texas
INDUSTRY KEYWORD: Natural Resources
Mining/Minerals
