RAM Energy Resources, Inc. (Nasdaq: RAME) today announced an update of the progress of its examination of strategic alternatives as outlined in the company’s press release of June 15, 2010. Based on a review of various alternatives presented by interested parties, RAM has determined that deleveraging the company through targeted asset sales and refinancing the company’s existing debt will provide the greatest benefit to current shareholders. The company is pursuing the strategic sales of selected assets with anticipated proceeds used to reduce RAM’s outstanding debt. RAM will be evaluating refinancing alternatives with respect to its remaining outstanding debt while asset sales are completed. At the current time the company does not expect that any of these alternatives would require the issuance of additional equity capital.

On June 15, 2010 RAM issued a press release announcing that the Board of Directors of RAM had authorized management to investigate a broad range of strategic alternatives available to the company, all with a view to enhance shareholder value. The company engaged Jefferies & Company, Inc. as its exclusive financial advisor to assist in this strategic review process.

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, including the ability to complete any asset sales, the anticipated use of proceeds from asset sales to reduce debt, any effort to refinance outstanding debt, the current expectation that such actions can be accomplished without requiring the issuance of additional equity capital and the objective outcome of the strategic review process, as well as 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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