Mr. Rampey and Mr. Smiley previously worked for Reading & Bates Petroleum Co. whose domestic properties RAM acquired in 1989. Prior to their retirement dates, Messrs. Rampey and Smiley will assist Mr. Austin in consolidating day-to-day executive management functions into the Chief Operating Officer role.“Larry Rampey and Drake Smiley have made enormous contributions to the success of RAM Energy Resources and its predecessor, RAM Energy, Inc., since joining the company in connection with our acquisition of Reading & Bates Petroleum Co. in 1989,” said Mr. Lee. “Consistent with their loyal service to the company over the past 22 years, Larry and Drake decided to notify the Board of their retirement plans in connection with the operational reorganization of the company we are also announcing today. We hate to see them go, but at the same time appreciate their willingness to stay on through the end of the year for Larry, and through mid-2012 for Drake, in order to facilitate a seamless transition in the executive management structure,” added Mr. Lee. While Mr. Austin will assume greater management responsibilities as COO of the company, Mr. Lee will actively continue in his capacities as Chairman, President and CEO. 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.