RAM Energy Resources Announces Review of Strategic Alternatives
15 Juni 2010 - 12:55PM
Business Wire
RAM Energy Resources, Inc. (Nasdaq: RAME) announced today that
its Board of Directors has authorized management to investigate a
broad range of strategic alternatives available to the company,
including a sale, refinancing or recapitalization of the company,
all with a view to enhance shareholder value. The company has
engaged Jefferies & Company, Inc. as its exclusive financial
advisor to assist in this strategic review process.
In the meantime, the company has not altered its business plans
or amended its previously disclosed capital budget and continues
with the drilling and development program outlined at the beginning
of the year in a continued effort to grow reserves.
The company does not intend to disclose developments with
respect to the progress of its strategic review process unless and
until the Board has approved a definitive transaction or strategic
option, unless otherwise required by law or where a disclosure is
deemed appropriate.
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 and the associated
process, estimates of planned non-acquisition capital spending,
drilling activities and 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
RAM Energy Resources, Inc. 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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