Borrowing Base ReaffirmedAs a result of the semi-annual borrowing base redetermination, RAM’s commercial lenders on September 30, 2011 reaffirmed the company’s existing borrowing base of $150.0 million under RAM’s revolving facility based on the company’s proved reserves at mid-year 2011. At September 30, 2011 the outstanding balance under the revolving facility was $125.0 million. Funds advanced under the revolver may be paid down and re-borrowed during the term of the revolver which matures March 2016. The company also has borrowings under a term loan facility which had an outstanding balance of $75.0 million at September 30, 2011 and a maturity of September 2016. 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 status of exploratory or other operational activities are estimates of events or developments that the company expects or believes and 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 ResourcesRAM 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 RAM. For additional information, visit the company website at www.ramenergy.com.