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IPAA 2011 OGIS – Ram Energy Resources, Inc.

Ram Energy Resources, Inc. · Apr 12, 2011 · 26 slides

Investor presentation from the Shale Experts oil & gas presentation and slide database. Every page is imaged and its text indexed for search across operators, plays, basins and time.

Slides

  1. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 1
    IPAA 2011 OGIS New York April 2011
  2. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 2
    Geographically Focused Areas of Operation Osage Electra/ Fitts--Allen Fitts Burkburnett Louisiana = Rig working/planned Area of focus in 2011 Lacopita capital budget South Texas 3
  3. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 3
    Oil and Liquids Rich Reserve Base Benefitting from Existing Price Premium for Oil 66% of production is based on price of oil (1) Oil and liquids account for 85% of sales Oil and liquids account for 64% of proved reserves…
  4. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 4
    Repositioned for Growth Strategic alternatives review executed completed - RAM closed two non-core asset sales in 2010, gross proceeds totaled 51.7 MM - Reduced bank debt 20% or 49 MM to 196.7 MM at year-end 2010 - Refinanced…
  5. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 5
    2011 Capital Expenditure Budget and Targets 2011 Capital budget of 35 MM is targeted to be within estimated annual cash flow - 18 MM development and exploitation drilling - 9 MM allocated to exploration p - 8 MM geological,…
  6. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 6
    Substantial Inventory of Projects(1) RAM has deep inventory of project locations Non- Mature Oil Fields: Proved Proved Total Electra/Burkburnett 214 49 263 N.E. Fitts/Allen 69 10 79 Developing Fields: South Texas 23 55 78…
  7. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 7
    Recent Drilling Achievements Consistent with Long and Successful Track Record Wells Drilled Wells Drilled Total Wells Drilled 2009 2010 (1) 1987- 2010 (1) Producers 44 62 821 Dry Holes 1 1 18 Drilling or Completing 0 7 7 Total 45…
  8. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 8
    Major Oil Fields: Strong Operating Cash Flow Supports Company CAPEX Electra / Burkburnett and N.E. Fitts/Allen Areas Combined(1) 50 2,213 BOE/D 52.00/BOE December 2010 net lease operating cash flow from these areas was…
  9. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 9
    Piper Lease Production Enhancement through Waterflood Historically: Typical of Electra area, wells produce from multiple sands and principal source of production increase has been due to infill drilling Waterfloods Waterflood s…
  10. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 10
    RAMs Osage Concession: Part of Broad Industry Mississippian Exploration Oil Play Pawnee Harvey Stafford Reno Edwards Greenwood RAM has a concession in Osage g Sedgwick g Butler Pratt County, Oklahoma covering Kiowa Kingman…
  11. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 11
    Osage Concession Cost to drill and complete vertical well; ll 350 - 400 M ffor iinitial iti l wells; subsequent well cost estimated at 250 M Initial 3-D 3 D seismic acquisition covering 16,000 acres is being drilled Second…
  12. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 12
    RAMs Osage Concession: Part of Broad Industry Mississippian pp Exploration p Oil Play y 2010 Activity - Mashunkashey 1 - Surber 1 - Rickets 3 13
  13. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 13
    RAMs Osage Concession: Part of Broad Industry Mississippian pp Exploration p Oil Play y 2010 Activity - Mashunkashey 1 - Surber 1 - Rickets 3 2011 Activity - 1Q: Surber Su be 3, S SWD Farmland 1 Surber 2(Twin) 14
  14. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 14
    RAMs Osage Concession: Part of Broad Industry Mississippian pp Exploration p Oil Play y 2010 Activity - Mashunkashey 1 - Surber 1 - Rickets 3 2011 Activity - 1Q: Surber Su be 3, S SWD Farmland 1 Surber 2(Twin) - 2Q: 2Q…
  15. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 15
    RAMs Osage Concession: Part of Broad Industry Mississippian pp Exploration p Oil Play y 2010 Activity - Mashunkashey 1 - Surber 1 - Rickets 3 2011 Activity - 1Q: Surber Su be 3, S SWD Farmland 1 Surber 2(Twin) - 2Q: 2Q…
  16. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 16
    RAMs Osage Concession: Part of Broad Industry Mississippian pp Exploration p Oil Play y 2010 Activity - Mashunkashey 1 - Surber 1 - Rickets 3 2011 Activity - 1Q: Surber Su be 3, S SWD Farmland 1 Surber 2(Twin) - 2Q: 2Q…
  17. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 17
    2010 Reserve Data SEC Pricing 2010 MBO MMCF NGL MBOE PV10 PDP 8,087 24,136 1,358 13,467 232,449 PDNP 327 7,642 128 1,729 26,903 PUD 4 672 4,672 21 832 21,832 889 9 200 9,200 104 896 104,896 Total 13,086 53,608 2,375 24,396…
  18. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 18
    Attractive Valuation Price/Cash Flow Potential appreciation of 35% if RAM multiple equals 2011 peer group price/cash flow average of 5.4X 8X 7 6.2 6 57 5.7 5.8 ash Flow Multiple e 5.4 5.2 5 4.8 4.3 4 3.8 3.5…
  19. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 19
    Summary of Investment Considerations Repositioned for growth; - Above average oil weighting in production and reserves compared to peers - Stable cash flow base supported by substantial inventory of projects - Osage Concession…
  20. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 20
    APPENDIX
  21. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 21
    EBITDA & Free Cash Flow Per Share Non-GAAP Financial Measures Modified EBITDA, a non-GAAP measure, is determined by adding the following to net income (loss): interest expense, income taxes, depreciation, amortization, accretion,…
  22. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 22
    2011 and 2012 Derivative Positions (1) Crude Oil (Bbls) (2) Natural Gas (Mmbtu) (3)(4) Floors Ceilings g Floors Ceilings g Year Per Day Price Per Day Price Year Per Day Price Per Day Price Q2 11 2,500 80.00 2,500 105.00 Q2 11…
  23. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 23
    RAM Production by Area Texas Oklahoma Louisiana Other Total Year Ended December 3131, 2010 Aggregate Net Production Oil (MBbls) 559 322 79 35 995 NGLs (MBbls) 341 10 - 13 364 Natural Gas (MMcf) 3,128 849 689 150 4,816 MBoe 1,421 473…
  24. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 24
    RAM Production by Area Texas Oklahoma Louisiana Other Total Three Months Ended December 31, 2010 Aggregate Net Production Oil (MBbls) 134 78 17 9 238 NGLs (MBbls) 79 3 - 2 84 Natural Gas ((MMcf)) 688 205 175 34 1 102 1,102 MBoe…
  25. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 25
    Total Debt Debt reduced 139 MM or 41% since December 31, 2007 level of 336 MM after acquisition of Ascent Energy 400 336 300 255 246 Debt MM 200 197 Total D 100 0 2007 2008 2009 2010 26 (1) As of 12/31…
  26. IPAA 2011 OGIS – Ram Energy Resources, Inc. – slide 26
    5100 East Skelly Drive Meridian Tower, Suite 650 Tulsa, Oklahoma 74135 (918)663-2800 www.ramenergy.com

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