Business Context and Reporting Period
This Form 8-K is a current report filed by RAM Energy Resources, Inc. (not Battalion Oil Corp as indicated in metadata) on March 12, 2007. The report discloses executive compensation decisions made by the Board of Directors regarding the fiscal year ended December 31, 2006.
Key Financial Metrics
The filing does not provide revenue, profit, cash flow, margins, debt, or liquidity metrics. It solely reports on specific bonus payments approved for executive officers.
| Executive Officer | Title | 2006 Bonus Amount |
|---|---|---|
| Larry E. Lee | Chairman, President and CEO | $200,000 |
| John M. Longmire | SVP and CFO | $100,000 |
| Larry G. Rampey | Senior Vice President | $100,000 |
| Drake N. Smiley | Senior Vice President | $100,000 |
| John L. Cox | Vice President, Secretary and Treasurer | $75,000 |
| Robert E. Phaneuf | Vice President - Corporate Development | $75,000 |
Total approved bonuses: $650,000. Payments are scheduled to be made on or prior to April 15, 2007.
Material Changes
The filing does not disclose material changes in financial performance, operations, or capital structure compared to prior periods. It reports a discrete event regarding executive compensation.
Guidance, Outlook, and Risks
The filing contains no management guidance, outlook, risk factors, or discussion of contingencies. The text is limited to the disclosure of the bonus approval event under Item 8.01 (Other Events).
Investor Verification Checklist
- Verify the total cash outflow of $650,000 for executive bonuses in the Q1 2007 financial statements.
- Confirm the company name is RAM Energy Resources, Inc., as the metadata reference to "Battalion Oil Corp" appears inconsistent with the filing text.
- Review the 2006 Annual Report (10-K) to understand the performance criteria used to justify these specific bonus amounts.
- Check subsequent filings to confirm the bonuses were paid by the April 15, 2007 deadline.