Drilling Tools International (ROC Energy Acquisition) ^{Priced, Nasdaq: DTI}

We are a newly incorporated Delaware corporation structured as a blank check company. While we may pursue an initial business combination target in any business, industry or geographical location, we intend to focus our acquisition efforts on the non-operated, upstream oil and gas sector in the U.S. We believe that the significant opportunity set, lack of competition and maturity of the production base, combined with low-risk development, has generated a compelling opportunity to create a dividend-paying oil and gas company focused on consolidating the asset class. The non-operated segment of the oil and gas sector is highly fragmented, with a significant supply of high-quality producing and non-producing assets. Additionally, the sector is generally uncompetitive with only one pure-play, publicly held non-operated company. Energy-specific private equity firms have pulled back from investing in non-operated focused businesses due to lack of exit alternatives and overall lack of investible capital at the fund level. There is only one public company with a focus on acquiring non-operated assets, with an enterprise value of roughly $2 billion. Public companies that directly manage and operate assets are instead net sellers of non-operated assets, which makes them potential partners and sources of deals for us.