Rock Energy Announces $8 Million Credit Facility Loan Commitment from CEO
HOUSTON-(Business Wire)-September 25, 2009 - Rock Energy Resources, Inc. (OTCBB:RCKE), an independent domestic oil and natural gas company, today announced that it has received a loan commitment (“Credit Facility”) from CEO Rocky V. Emery. The proposed Credit Facility offer is subject to a variety of contingencies any one of which may terminate the Credit Facility offer prior to funding. Mr. Emery’s ability to fund the Credit Facility is based on a personal loan transaction with a Texas banking institution secured by a variety of collateral including company assets.
This Credit Facility, once funded, will provide the Company working capital for future development of prospects. Mr. Emery estimates that the loan proceeds to the company may be as much as $8,000,000.
The Company cannot offer any assurances that the Emery personal loan and, or Credit Facility will fund or that funds will be available to the Company until all contingencies are removed.
Additional information is available on a Current Report filed on Form 8-K with the Securities and Exchange Commission.
About Rock Energy Resources, Inc.
Originally formed in April of 2004 as Rock Energy Partners LP, Rock Energy Resources is a domestic oil and gas company based in Houston, Texas.
For more information, please visit www.rockenergyresources.net.
Safe Harbor Forward-Looking Statements
Forward-looking statements made in this release are made pursuant to the “safe harbor” provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements made herein are not a guarantee of future performance. This news release includes forward-looking statements, including with respect to the future level of business for the parties. These statements are necessarily subject to risk and uncertainty. Actual results could differ materially from those projected in these forward-looking statements as a result of certain risk factors that could cause results to differ materially from estimated results. Management cautions that all statements as to future results of operations are necessarily subject to risks, uncertainties and events that may be beyond the control of Rock Energy Resources, Inc., and no assurance can be given that such results will be achieved. Potential risks and uncertainties include, but are not limited to, the ability to procure, properly price, retain and successfully complete projects, and changes in products and competition.
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