Rock will be investing to train its accounting department in International Financial Reporting Standards, which will be fully implemented by the start of 2011, in line with new Canadian accounting legislation.

The announcement came as the upstream exploration company detailed another year of strong operational performance through the pursuance of a strategy based on targeting probable wells and maximising production at existing wells.

In total, the company was involved in the drilling of 33 new wells, with an overall success rate of 96 per cent on net cased wells.

"A key accomplishment in 2008 was the $14 million spent for the construction of natural gas gathering pipelines and compressor, dehydration and liquids-handling stations to tie-in Rock's natural gas wells at Saxon, Musreau, Kakwa and Elmworth," the company added.

The junior oil and gas firm currently has an inventory of more than 100 drilling locations of varying risk and reward potentials.

5th Global Education and Training event for Oil and Gas: Exploration and Production