Rock Energy Inc. Provides 2014 Operations Update and Revised 2015 Guidance - Seite 2

With this change in strategy, the Company is now planning to spend $17 - $18 million in the first half of the year, and up to $25 million for the whole year. This reduced capital spending plan will generate average production for the year of 4,600 - 5,000 boepd. Assuming WTI averages $55.00 US/bbl for the year ($50.00 WTI US$/bbl for Q1 and Q2, and $60.00 WTI US$/bbl for Q3 and Q4), the WTI - WCS differential averages $15.00 US/bbl, and the exchange rate averages 1.25 CDN/US$ the Company would generate cash flow of approximately $35 million ($0.86/share). At current forward strip pricing (WTI ~$50 US/bbl), the Company would generate cash flow of approximately $18 million ($0.45/share).

2015 is proving to be a challenging year for our industry as we manage a significant reduction in commodity prices. We will be conservative and prudent with our capital spending, and will remain flexible to react to changing oil prices. For the present time, the leadership team at Rock is focused on maximizing our operating netback, managing the balance sheet and building our inventory of opportunity.

Advisory Regarding Forward-Looking Information and Statements

This press release contains forward-looking statements and forward-looking information within the meaning of applicable securities laws. The use of any of the words "will", "expects", "believe", "plans", "potential" and similar expressions are intended to identify forward-looking statements or information. More particularly and without limitation, this press release contains forward looking statements and information concerning: capital spending plans for 2015; and forecast average production for 2015.

The forward-looking statements and information in this press release are based on certain key expectations and assumptions made by Rock, including prevailing commodity prices and exchange rates; applicable royalty rates and tax laws; future well production rates; reserve and resource volumes; the performance of existing wells; the success obtained in drilling new wells; the sufficiency of budgeted capital expenditures in carrying out planned activities; the availability and cost of labour and services; and the receipt, in a timely manner, of regulatory and other required approvals. Although Rock believes that the expectations and assumptions on which such forward-looking statements and information are based are reasonable, undue reliance should not be placed on the forward-looking statements and information because Rock can give no assurance that they will prove to be correct. There is no certainty that Rock will achieve commercially viable production from its undeveloped lands and prospects.