RAM Energy Resources, Inc. (Nasdaq: RAME) announced today that its Board of Directors has authorized management to investigate a broad range of strategic alternatives available to the company, including a sale, refinancing or recapitalization of the company, all with a view to enhance shareholder value. The company has engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.

In the meantime, the company has not altered its business plans or amended its previously disclosed capital budget and continues with the drilling and development program outlined at the beginning of the year in a continued effort to grow reserves.

The company does not intend to disclose developments with respect to the progress of its strategic review process unless and until the Board has approved a definitive transaction or strategic option, unless otherwise required by law or where a disclosure is deemed appropriate.

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 the company’s pursuit of strategic alternatives and the associated process, estimates of planned non-acquisition capital spending, drilling activities and events or 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.

About RAM Energy Resources

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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