RAME Ram Energy Resources, Inc. (MM)

RAM Energy Resources, Inc. (Nasdaq: RAME) today announced higher first quarter production volumes compared to both the first quarter last year as well as production for the fourth quarter 2008. Production for the quarter ended March 31, 2009 increased 7 percent above the year ago quarter to a total of 655,000 BOE, principally as a result of increased volumes from RAM�s developing fields and its mature oil fields. Similarly, first quarter 2009 daily production of 7,278 BOE rose 2.5 percent above the daily volume of 7,098 BOE, or a total of 653,000 BOE, produced during the quarter ended December 31, 2008. Based on first quarter production and planned activity during the remainder of the year, the company reaffirms its target production for the 2009 year of 2.55 million BOE, a level equal to total production in 2008.

Capital expenditures for the first quarter 2009 totaled approximately $13.3 million with $12.1 million, or 91 percent, allocated to developmental activities and the remainder split between acquisition of proved properties and exploratory costs. Planned capital spending for the year targets the low end of the previously disclosed range of $40 - $45 million with continued focus on lower risk developmental activity.

�RAM�s strategy is to preserve value in the current environment of comparatively low hydrocarbon prices and uncertain near term demand for oil and gas. The company is well positioned to weather the current climate and respond to an improvement in industry economics with an inventory mix of conventional and unconventional projects to support increased activity and production. RAM has a significant inventory of economic projects, most all of whose associated leases are held by production and not substantially at risk of lease expiration,� said Larry Lee, Chairman and CEO. �We have identified over 150 PUD locations in our core areas,� added Mr. Lee.

Forward-Looking Statements

This release includes certain statements that may be deemed to be �forward-looking statements� within the meaning of the Private Securities Litigation Reform Act of 1995. All statements in this release, other than statements of historical facts that address estimates of drilling activities, production, capital spending and events or other developments that the company expects or believes are forward-looking statements. Although the company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance, and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include oil and gas prices, exploitation and exploration successes, actions taken and to be taken by the government as a result of political and economic conditions, continued availability of capital and financing, and general economic, market or business conditions as well as other risk factors described from time to time in the company�s filings with the SEC. The company assumes no obligation to update publicly such forward-looking statements, whether as a result of new information, future events or otherwise.

RAM Energy Resources, Inc. is an independent energy company engaged in the acquisition, exploitation, exploration, and development of oil and gas properties and the marketing of crude oil and natural gas. Company headquarters are in Tulsa, Oklahoma, and its common shares are traded on the Nasdaq under the symbol RAME. For additional information, visit the company website at www.ramenergy.com.

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