Energy Prospectus

RAM Energy Res 3Q EPS 2c >RAME 11/08 06:30 AM

-- RAM Reports 3Q 2010 Net Income of $1.6 million, or $0.02 per share; 9
Months Net Income of $6.7 million, or $0.09 per share

-- 3Q 2010 Free Cash Flow of $7.5 Million, or $0.10 Per Share

-- 3Q 2010 Modified EBITDA of $12.0 Million

-- 3Q 2010 Production of 541,000 BOE; 9 Months Production of 1.7 Million BOE

-- RAM announces Agreement to Sell North Texas Gas Assets; Proceeds Target
Debt Reduction
TULSA, Okla.--(BUSINESS WIRE)--November 08, 2010--

RAM Energy Resources, Inc. (RAME:$1.56,00$0.02,001.30%) today announced third quarter 2010 earnings and financial highlights.
RAM Reports 3Q 2010 Net Income of $1.6 Million
For the quarter ended September 30, 2010, RAM reported net income of $1.6 million, or $0.02 per share, based on 78.6 million diluted weighted average shares outstanding compared to a loss of $3.1 million, or $0.04 a share, on 74.5 million shares outstanding in the year-ago quarter. For the third quarter 2010, RAM's adjusted net income to common shareholders (a non-GAAP measure) was $444, 000, or $0.01 per share. The calculation of adjusted net income excludes the after tax impact of unrealized, non-cash, mark-to-market (MTM) gains associated with oil and natural gas derivatives covering future periods and other items. The adjusted net loss for the third quarter 2009 was $2.3 million, or $0.03 per share.
Modified EBITDA and Free Cash Flow
Modified EBITDA (a non-GAAP measure) was $12.0 million for the third quarter, compared with $11.1 million in last year's quarter. Similarly, free cash flow (a non-GAAP measure) was $7.5 million, or $0.10 per share for this year's third quarter compared to $8.7 million, or $0.12 per share, in last year's third quarter.

UPGRADE: RAM Energy Resources (RAME) upgraded by Rodman & Renshaw from Mkt Perform to Mkt Outperform. 11/09 05:58 AM

from google finance:

RAM Energy Resources (NASDAQ:RAME) was upgraded to Market Outperform at Rodman & Renshaw based on valuation. Since the firm downgraded the stock 3 months ago, shares have declined 20%-25%, compared to an increase of 10%-15% for the EPX. As such, the company is trading at a steep discount to its peer group. It notes the discount is likely due to RAM’s heavy debt burden and lack of meaningful growth projects. However, the firm said the company is seeking to alleviate both of these issues with non-core asset sales and a potential catalyst at its Osage project. It believes successful results from these endeavors should help erode the company’s discount valuation.

Lets see how the stock reacts to this. Maybe we get a nice pop here.

For those of you still "stuck" with old sweet 16 member RAME shares (myself included), the stock has moved considerably since their last CC up to 1.9 today. I am not sure exactly why but if I had to guess, it is tracking oil prices (it is weighted to oil) and we are in an unusually bullish small cap environment now. They do have some exploration upside - perhaps here is positive action there.

The week between Christmas and New Years offers some good trading opportunities. Take advantage of them.