Press Release
  

FOR IMMEDIATE RELEASE
November 7, 2013 NYSE MKT: REI

RING ENERGY, INC. ANNOUNCES THIRD QUARTER
AND NINE MONTH 2013 FINANCIAL AND OPERATING RESULTS

Third Quarter Cash Flow Increases 400% Over Second Quarter

Midland, TX. November 7, 2013 - Ring Energy, Inc. (NYSE MKT: REI) (“Company”)(“Ring”) announced today financial results for the third quarter and nine months ended September 30, 2013. For the three month period ended September 30, 2013, Ring had oil and gas revenues of $2,820,731, compared to $374,739 for the quarter ended September 30, 2012. For the three month period ended September 30, 2013, the Company had a net loss of $131,493 or $0.01 per fully diluted share, compared to a net loss of $631,453 or $0.06 per fully diluted share, for the same period in 2012. For the nine month period ended September 30, 2013, the Company reported oil and gas revenues of $5,264,267, compared to oil and gas revenues of $1,045,264 for the nine month period ended September 30, 2012. Net loss for the nine month period ended September 30, 2013 was $1,987,166, or $0.13 per fully diluted share, compared to a net loss of $1,801,104, or $0.29 per fully diluted share, for the same period in 2012.

The revenue increase was due to increases in production volumes resulting from development of our leases. For the three months ended September 30, 2013, oil sales volume increased to 26,609 barrels, compared to 4,386 barrels for the same period in 2012, and gas sales volume increased to 9,591 MCF (thousand cubic feet), compared to 169 MCF for the same period in 2012. For the nine months ended September 30, 2013, oil sales volume increased to 55,116 barrels, compared to 11,653 barrels for the same period in 2012, and gas sales volume increased to 22,440 MCF, compared to 3,319 MCF for the same period in 2012. The average commodity prices received by Ring were $104.65 per barrel of oil and $3.75 per MCF of natural gas for the quarter ended September 30, 2013, compared to $85.28 per barrel of oil and $4.50 per MCF of natural gas for the quarter ended September 30, 2012. The average prices received for the nine months ended September 30, 2013 were $94.18 per barrel of oil and $3.27 per MCF of natural gas, compared to $88.62 per barrel of oil and $3.77 per MCF of natural gas for the nine month period ended September 30, 2012.Lease operating expenses for the three months ended September 30, 2013 were $10.32 per barrel of oil equivalent (“BOE”) and $10.99 for the nine month period ended September 30, 2013.

Net cash flow from operations for the three and nine months ended September 30, 2013 was $1,695,854, or $0.09 per fully diluted share, and $2,305,449, or $0.14 per fully diluted share, compared to negative net cash flow of $300,791 and $935,257, or $0.03 and $0.15 per fully diluted share for the same periods in 2012.a

Ring’s Chief Financial Officer, Mr. Randy Broaddrick, stated, “We continue to see great improvement in our cash flow with more than a 400% increase over our second quarter this year. We expect this trend to continue as additional wells are drilled and completed.”


About Ring Energy, Inc.
Ring Energy, Inc. is an oil and gas exploration, development and production company with current operations in Texas and Kansas.

Safe Harbor Statement

This release contains forward-looking statements within the meaning of the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995 that involve a wide variety of risks and uncertainties, including, without limitations, statements with respect to the Company’s strategy and prospects. Such statements are subject to certain risks and uncertainties which are disclosed in the Company’s reports filed with the SEC, including its Form 10-K for the fiscal year ended December 31, 2012, its Form 10-Q for the quarter ended March 31, 2013 and its other filings with the SEC. Readers and investors are cautioned that the Company’s actual results may differ materially from those described in the forward-looking statements due to a number of factors, including, but not limited to, the Company’s ability to acquire productive oil and/or gas properties or to successfully drill and complete oil and/or gas wells on such properties, general economic conditions both domestically and abroad, and the conduct of business by the Company, and other factors that may be more fully described in additional documents set forth by the Company.

For further information contact:
Bill Parsons, K M Financial, Inc.
(702) 489-4447 office
(602) 315-5926 mobile



 
  December 11, 2013

RING ENERGY, INC. ANNOUNCES COMPLETION OF PUBLIC STOCK OFFERING OF 5,750,000
 
  December 5, 2013

RING ENERGY, INC. ANNOUNCES PRICING OF PUBLIC OFFERING OF COMMON STOCK
 
  December 2, 2013

RING ENERGY, INC. ANNOUNCES PUBLIC COMMON STOCK OFFERING OF 5,000,000 SHARES
 
  November 7, 2013

RING ENERGY, INC. ANNOUNCES THIRD QUARTER AND NINE MONTH 2013 FINANCIAL AND OPERATING RESULTS
Third Quarter Cash Flow Increases 400% Over Second Quarter
 
  October 17, 2013

RING ENERGY, INC. ANNOUNCES DEVELOPMENT PROGRAM FOR KANSAS LEASES
Signs Joint Development Agreement with Torchlight Energy Resources, Inc.
 
  October 1, 2013

RING ENERGY, INC. PROVIDES THIRD QUARTER 2013 OPERATIONS UPDATE
 
  August 29, 2013

RING ENERGY, INC. ANNOUNCES MOVE
TO NYSE MKT

Begins Trading September 3, 2013
 
  August 14, 2013

RING ENERGY, INC. ANNOUNCES SECOND QUARTER AND SIX MONTH 2013 FINANCIAL AND OPERATING RESULTS
 
  July 31, 2013

RING ENERGY, INC.
PROVIDES MID-YEAR 2013 OPERATIONS UPDATE
 
  June 26, 2013

RING ENERGY, INC. ANNOUNCES CLOSING OF $19.3 MILLION PRIVATE PLACEMENT
Management Outlines Operations and Capital Budget for 2013
 
  May 14, 2013

RING ENERGY, INC. ANNOUNCES FIRST QUARTER 2013 FINANCIAL AND OPERATING RESULTS
 
  January 23, 2013

RING ENERGY, INC. ANNOUNCES REORGANIZATION
Board Headed by Arena Resources, Inc.
Co-founders
 
 
 

 
   
   

HOME • INVESTORSPRESENTATIONSCAREERS • CONTACTDISCLOSURE • TERMS

Ring Energy, Inc. is an independent oil and gas exploration company with headquarters in Midland, Texas. Ring Energy’s business strategy is focused on the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States.

   
   

 

© Copyright 2012-2017 Ring Energy, Inc. All Rights Reserved