Rame
Re: Rame
All I had to do was take it out of the Sweet 16.
AEZ and RAME were replaced on October 1 by CLR and XEC.
There is nothing wrong with either AEZ or Ram.
AEZ will move in lock step with HES until the merger. HES is heavily weighted to oil and it has a lot of upside if oil prices continue to drift higher, which I believe they will.
Ram Energy will soon announce the results of their "Strategic Alternative" efforts. It is likely the company will be sold. If so, it will probably sell for around $2.00.
AEZ and RAME were replaced on October 1 by CLR and XEC.
There is nothing wrong with either AEZ or Ram.
AEZ will move in lock step with HES until the merger. HES is heavily weighted to oil and it has a lot of upside if oil prices continue to drift higher, which I believe they will.
Ram Energy will soon announce the results of their "Strategic Alternative" efforts. It is likely the company will be sold. If so, it will probably sell for around $2.00.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
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SEIFER
Re: Rame
Rame will be speaking at the conference next week. We should expect an announcement of some kind by then. Oddly, the current stock price does not appear to reflect any sale or restructuring that is imminent.
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (Nasdaq:RAME - News) announced that Larry Lee, Chairman and CEO, plans to make a corporate presentation at the IPAA’s 2010 Oil and Gas Investment Symposium - West at 9:15 a.m. Pacific Time on Tuesday, October 12, 2010 in San Francisco. The live audio webcast and the associated slides will be available at that time on the RAM website at www.ramenergy.com. The webcast including the slide presentation will be available for a time following the presentation
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (Nasdaq:RAME - News) announced that Larry Lee, Chairman and CEO, plans to make a corporate presentation at the IPAA’s 2010 Oil and Gas Investment Symposium - West at 9:15 a.m. Pacific Time on Tuesday, October 12, 2010 in San Francisco. The live audio webcast and the associated slides will be available at that time on the RAM website at www.ramenergy.com. The webcast including the slide presentation will be available for a time following the presentation
Re: Rame
I plan on attending most of the SF IPAA conference and although I only have a small investment in RAME I will try to catch their presentation along with what is said at the break out session that follows. My main interest is ATPG,GPOR, KOG and SGY which are supposed to present at this conference.
GLTA Bob
GLTA Bob
Re: Rame update
RAM Energy Resources Announces Update of Review of Strategic Alternatives 10/07 06:25 AM
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (RAME:$1.62,00$0.04,002.53%) today announced an update of the progress of its examination of strategic alternatives as outlined in the company’s press release of June 15, 2010. Based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company’s existing debt will provide the greatest benefit to current shareholders. The company is pursuing the strategic sales of selected assets with anticipated proceeds used to reduce RAM’s outstanding debt. RAM will be evaluating refinancing alternatives with respect to its remaining outstanding debt while asset sales are completed. At the current time the company does not expect that any of these alternatives would require the issuance of additional equity capital.
On June 15, 2010 RAM issued a press release announcing that the Board of Directors of RAM had authorized management to investigate a broad range of strategic alternatives available to the company, all with a view to enhance shareholder value. The company engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.
Forward-Looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address the company’s pursuit of strategic alternatives, including the ability to complete any asset sales, the anticipated use of proceeds from asset sales to reduce debt, any effort to refinance outstanding debt, the current expectation that such actions can be accomplished without requiring the issuance of additional equity capital and the objective outcome of the strategic review process, as well as events or developments that the company expects or believes are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, actions taken and to be taken by the government as a result of political and economic conditions, continued availability of capital and financing, and general economic, market or business conditions as well as other risk factors described from time to time in the company’s filings with the SEC. The company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
About RAM Energy Resources (RAME:$1.62,00$0.04,002.53%)
RAM Energy Resources, Inc. (RAME:$1.62,00$0.04,002.53%) is an independent energy company engaged in the acquisition, exploitation, exploration, and development of oil and gas properties and the marketing of crude oil and natural gas. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the Nasdaq under the symbol RAME. For additional information, visit the company website at www.ramenergy.com.
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (RAME:$1.62,00$0.04,002.53%) today announced an update of the progress of its examination of strategic alternatives as outlined in the company’s press release of June 15, 2010. Based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company’s existing debt will provide the greatest benefit to current shareholders. The company is pursuing the strategic sales of selected assets with anticipated proceeds used to reduce RAM’s outstanding debt. RAM will be evaluating refinancing alternatives with respect to its remaining outstanding debt while asset sales are completed. At the current time the company does not expect that any of these alternatives would require the issuance of additional equity capital.
On June 15, 2010 RAM issued a press release announcing that the Board of Directors of RAM had authorized management to investigate a broad range of strategic alternatives available to the company, all with a view to enhance shareholder value. The company engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.
Forward-Looking Statements
This release includes certain statements that may be deemed to be “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts, that address the company’s pursuit of strategic alternatives, including the ability to complete any asset sales, the anticipated use of proceeds from asset sales to reduce debt, any effort to refinance outstanding debt, the current expectation that such actions can be accomplished without requiring the issuance of additional equity capital and the objective outcome of the strategic review process, as well as events or developments that the company expects or believes are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, actions taken and to be taken by the government as a result of political and economic conditions, continued availability of capital and financing, and general economic, market or business conditions as well as other risk factors described from time to time in the company’s filings with the SEC. The company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.
About RAM Energy Resources (RAME:$1.62,00$0.04,002.53%)
RAM Energy Resources, Inc. (RAME:$1.62,00$0.04,002.53%) is an independent energy company engaged in the acquisition, exploitation, exploration, and development of oil and gas properties and the marketing of crude oil and natural gas. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the Nasdaq under the symbol RAME. For additional information, visit the company website at www.ramenergy.com.
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SEIFER
Re: Rame
oh well. No sale. Most likely they could not get a reasonable price with all that debt. Management and Jefferies owns a lot of shares so they weren't going to let someone steal the company. Now they need to sell some assets and issue some high yield bonds to clean up the balance sheet whose debt goes current (within the year) next month. The companies assets are worth north of 3 bucks according to previous IR conferences. Lets hear what they say next week. I doubt there is much down side here. I do not see them going under at all. Their borrowing base just got reconfirmed. High oil prices and freeing up some cash will bail them out longer term. Might be dead money for a while though unless they have something up their sleeves now.
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SEIFER
Re: Rame
I think we will hear about the recapitilization before end of month. Whoever bought the stock hoping for a buyout has sold by now so the weak hands are out. The remaining holders are hanging up becuase the companys breakup value is worth more than 1.50 and because the managment has stated they will do what is good for shareholders by freeing up captial through a refinance without equity dilution. With rates being low these days, I wonder how cheap they could get financing. I suppose the good news is their wells are back on line. Maybe if they could free up some capital they could buy some oil properties in growth areas to give the company a story. No point in selling now with the conference this week and the refinance imminent.
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SEIFER
Re: Rame
Rame Reducing 113M term loan by 43M as part of strategic asset sales.
We are getting there. Barnett was supposed be a growth area but it never materialized due to low natty prices. They should and will stick to oil amd liquids.
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (Nasdaq:RAME - News) today announced it had signed a purchase and sale agreement effecting the strategic divestiture of RAM’s North Texas Barnett Shale and Boonsville properties to a private E&P company for $43.75 million in cash, subject to customary due diligence and other closing adjustments. The effective date of the divestiture is October 1, 2010 with the closing anticipated in early December 2010. The current transaction represents the first asset sale to be effected pursuant to RAM’s announced review of strategic alternatives. Management has previously stated that proceeds from the asset divestitures will be used to reduce outstanding debt balances.
The properties covered by the purchase and sale agreement consist of RAM’s interest in its shallow gas, Bend Conglomerate properties and its deeper Barnett Shale properties, all located in the Ft. Worth Basin, principally in Jack and Wise Counties, Texas. Together, proved reserves from these properties accounted for approximately 26.4 billion cubic feet equivalents (Bcfe) of natural gas, natural gas liquids and oil, or an estimated 13%, of RAM’s year-end 2009 proved reserves of 204 Bcfe. In addition, the properties represent 10% of RAM’s field operating cash flow (defined as revenues less the combination of production expenses and production taxes) during the second quarter ended June 30, 2010. Further, total daily production during the second quarter ended June 30, 2010 for the combined properties was 5,635 thousand cubic feet equivalents (Mcfe) composed of 2,549 Mcf of natural gas, 465 Bbl of natural gas liquids and 50 Bbl of oil. Given the company’s outlook for the price of natural gas and its non-operated position in a number of these properties, RAM was not planning to focus a substantial portion of its capital expenditures in the near-to-intermediate term on these assets.
Based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company’s existing debt will provide the greatest benefit to current shareholders. RAM will also be evaluating refinancing alternatives with respect to its remaining outstanding debt while asset sales are being completed. At September 30, 2010 the company had bank debt outstanding of $246.7 million, composed principally of a balance outstanding under its revolver of $133.5 million and a balance outstanding under a term loan of $113.2 million.
On June 15, 2010 the company issued a press release announcing that the Board of Directors of RAM had authorized management to investigate a broad range of strategic alternatives available to the company, all with a view to enhance shareholder value. The company engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.
We are getting there. Barnett was supposed be a growth area but it never materialized due to low natty prices. They should and will stick to oil amd liquids.
TULSA, Okla.--(BUSINESS WIRE)-- RAM Energy Resources, Inc. (Nasdaq:RAME - News) today announced it had signed a purchase and sale agreement effecting the strategic divestiture of RAM’s North Texas Barnett Shale and Boonsville properties to a private E&P company for $43.75 million in cash, subject to customary due diligence and other closing adjustments. The effective date of the divestiture is October 1, 2010 with the closing anticipated in early December 2010. The current transaction represents the first asset sale to be effected pursuant to RAM’s announced review of strategic alternatives. Management has previously stated that proceeds from the asset divestitures will be used to reduce outstanding debt balances.
The properties covered by the purchase and sale agreement consist of RAM’s interest in its shallow gas, Bend Conglomerate properties and its deeper Barnett Shale properties, all located in the Ft. Worth Basin, principally in Jack and Wise Counties, Texas. Together, proved reserves from these properties accounted for approximately 26.4 billion cubic feet equivalents (Bcfe) of natural gas, natural gas liquids and oil, or an estimated 13%, of RAM’s year-end 2009 proved reserves of 204 Bcfe. In addition, the properties represent 10% of RAM’s field operating cash flow (defined as revenues less the combination of production expenses and production taxes) during the second quarter ended June 30, 2010. Further, total daily production during the second quarter ended June 30, 2010 for the combined properties was 5,635 thousand cubic feet equivalents (Mcfe) composed of 2,549 Mcf of natural gas, 465 Bbl of natural gas liquids and 50 Bbl of oil. Given the company’s outlook for the price of natural gas and its non-operated position in a number of these properties, RAM was not planning to focus a substantial portion of its capital expenditures in the near-to-intermediate term on these assets.
Based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company’s existing debt will provide the greatest benefit to current shareholders. RAM will also be evaluating refinancing alternatives with respect to its remaining outstanding debt while asset sales are being completed. At September 30, 2010 the company had bank debt outstanding of $246.7 million, composed principally of a balance outstanding under its revolver of $133.5 million and a balance outstanding under a term loan of $113.2 million.
On June 15, 2010 the company issued a press release announcing that the Board of Directors of RAM had authorized management to investigate a broad range of strategic alternatives available to the company, all with a view to enhance shareholder value. The company engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.