RAM Energy Resources Announces Purchase of Its Common Stock from Amaranth LLC
22 Septembre 2006 - 7:55PM
Business Wire
RAM Energy Resources, Inc. (Nasdaq: RAME) today announced the
purchase of 739,175 shares of RAM Energy Resources, Inc. common
stock from Amaranth LLC in a negotiated block sale transaction. The
purchase price was a discount to yesterday's closing price of $4.70
per share. The purchase was effected through the company's
wholly-owned subsidiary, RAM Energy, Inc. The purchased shares will
be held as treasury stock by the company and are eligible for
reissue by the company at its discretion. Purchase of the shares
was funded with general corporate funds on hand. Larry Lee, RAM's
Chairman and CEO, commented, "We feel that the repurchase of our
common stock at current price levels represents an attractive use
of our capital, expresses the level of confidence we have in our
business plan, and will provide an opportunity to increase value
for our shareholders. We also feel this repurchase of shares from
Amaranth will eliminate any uncertainty associated with their
previous ownership in RAM." 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
RAM's business plan, including, targeted production, planned
capital spending, anticipated drilling activity, 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. 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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