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CALGARY, AB , Oct. 14, 2022 /CNW/ - Source Rock Royalties Ltd. ("Source Rock") (TSXV: SRR) (TSXV: SRR.WT), a pure play oil and gas royalty company with an established portfolio of light oil focused royalties in Saskatchewan and Alberta , announces that Mr. Brody Loster has resigned as a director. Mr. Loster will continue to provide geological consulting services to Source Rock.
Mr. Loster has been a director of Source Rock since 2013. Source Rock is very grateful for Mr. Loster's lengthy commitment to the company and looks forward to continuing to benefit from his expertise through the provision of geological services to assist with evaluating royalty acquisition opportunities. Mr. Loster is a Professional Geologist with more than 15 years of experience focused on several oil fairways in Saskatchewan and Alberta . Mr. Loster previously held various roles with Baytex Energy Corp. (TSX: BTE), Raging River Exploration Inc. and Wildstream Exploration Inc.
Source Rock is a pure-play oil and gas royalty company with an existing, light oil focused portfolio of royalty interests concentrated in southeast Saskatchewan , east-central Alberta , west-central Alberta and west-central Saskatchewan . Source Rock targets a balanced growth and yield business model, using funds from operations to pursue accretive royalty acquisitions and to pay dividends. By leveraging its niche industry relationships, Source Rock identifies and acquires both existing royalty interests and newly created royalties through collaboration with industry partners. Source Rock's strategy is premised on maintaining a low-cost corporate structure and achieving a sustainable and scalable business, measured by growing funds from operations per share and maintaining a strong netback on its royalty production.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this release.
SOURCE Source Rock Royalties Ltd.
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