Energy Prospectus

TULSA, Okla. (AP) -- Oil and gas company RAM Energy Resources Inc. on Monday reported a first-quarter profit due to climbing oil revenue compared to a year ago, when it posted a loss due to a large impairment charge.

RAM posted a profit of $2.4 million, or 3 cents per share. A year ago, the company lost $29.4 million, or 38 cents per share in part because of an impairment charge of $47.6 million.

Revenue increased 19 percent to $30.9 million from $26 million.

According to Thomson Reuters, analysts expected the company to break even and report $28.4 million in revenue.

RAM said its oil revenue jumped 73 percent to $19.5 million. Natural gas revenue edged up to $6.4 million from $6.1 million and natural gas liquid revenue rose to $3.9 million from $1.7 million.

Meanwhile, production expenses and amortization costs decreased in its latest quarter.

RAM stock picked up 11 cents, or 5.9 percent, to $1.98 in midday trading

Ram's 1st quarter results beat my forecast so this is very encouraging. Look for the share price to push above $2.00 quickly.

Ram is heavily weighted to oil. As the crude oil price increases the Company's Balance Sheet will improve.

I'm bullish on oil prices so I'm bullish on RAME.

I will update my forecast model for Ram tonight.

Dan

Murphy's Law is at it again. We are having difficulty getting the new forecast models to load to the Sweet-16 tab. Hang tough, we are working on it.

Plus, Kim's air conditioning and internet went out for several hours today. We just have to laugh at some of this stuff.

I have updated NFX, EOG and BEXP. I'm currently working on RAME. I hope to have them all updated this week.

I'm very encouraged by the BEXP forecast production volumes. It seems the company is finally going to realize some of that oil from the new wells in the Bakken Shale. I also feel much better about NFX as they are focusing on oil in this year's budget.

Dan