March 13, 2009 / 3:14 PM / 9 years ago

CORRECTION - - UPDATE 1- Rock Energy Q4 posts loss on weak commodity prices

* Share loss C$0.08 vs profit C$0.01

* Cuts 2009 capital expenditure by 60 pct

* Shares flat at 65 Canadian cents

(Adds details)

TORONTO, March 13 (Reuters) - Rock Energy In RE.TO reported a fourth-quarter loss on Friday and said it was slashing its 2009 budget and production due to an unexpected decline in commodity prices.

The junior energy company that produces oil and natural gas in Western Canada says it plans C$15 million ($11.8 million) in capital expenditures this year, down 60 percent from its previous estimate of C$37.5 million.

Calgary-based Rock Energy also downgraded its production outlook for 2009 by 21 percent to between 3,200 and 3,400 barrels of oil equivalent (boe) per day, down from its previous estimate of between 4,100 and 4,300 boe.

Last year, Rock Energy spent C$50.2 million and produced 3,436 barrels of oil equivalent per day.

In the fourth quarter, the company reported a loss of C$2 million, or 8 Canadian cents a share, compared with a profit of C$290,000 or 1 Canadian cent a share the previous year.

Shares of Rock Energy were flat at 65 Canadian cents on the Toronto Stock Exchange on Friday morning.

$1=1.267 Canadian Dollar Reporting by Claire Sibonney; Editing by Frank McGurty

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