October 23, 2007 / 3:30 AM / 11 years ago

RAM Energy to buy Ascent Energy for $289.5 mln

Oct 16 (Reuters) - RAM Energy Resources Inc RAME.O said it agreed to acquire privately held Ascent Energy Inc for about $289.5 million, adding about 18.6 million barrels of oil equivalent of proved reserves.

The deal includes $185.0 million in cash, a minimum of 20.0 million to a maximum of 20.5 million shares of RAM common stock, and 6.2 million of RAM warrants, the independent energy company said in a statement. (Reporting by Anirvan Ghosh in Bangalore)

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