RAM Energy Resources says 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.

Tags: RAM Energy Resources