RAM Energy Resources, Inc. Announces Second Quarter Production, Asset Sales, Increased...

RAM Energy Resources, Inc. Announces Second Quarter Production, Asset Sales,
Increased Project Inventory; Reaffirms Annual Guidance

TULSA, Okla., July 30, 2009 (GLOBE NEWSWIRE) -- RAM Energy Resources, Inc.
(Nasdaq:RAME) today announced production for the quarter ended June 30, 2009 was
652,000 barrels of oil equivalent (BOE) compared to production in the year-ago
quarter of 644,000 BOE. Daily production in the second quarter 2009 averaged
7,165 BOE, a 1.2 percent increase over last year's second quarter volume,
principally as a result of increased volumes from its "mature oil fields"
resulting from oil focused activity during 2009 and drilling activity in the
second half of last year.

Approximately 59% of second quarter production is attributable to oil and
natural gas liquids (NGL) while the remaining 41% is attributable to natural
gas. Based on first half 2009 production totaling 1.3 million BOE and planned
activity during the remainder of the year, the company reaffirms its previously
established target production for the 2009 year of 2.5 million BOE, despite
production anticipated to be lost from the asset sales described below.

RAM Completes Divestiture of Non-Strategic Assets, Proceeds to Reduce Debt

During July 2009 RAM closed two transactions for the divestiture of certain
non-core Texas properties, receiving aggregate proceeds of approximately $5.4
million. In the larger of the two transactions, RAM sold its non-operated
interest in a mature gas field in south Texas. The transaction closed July 23,
2009. In the second transaction, which closed July 29, 2009, RAM sold its
interest in three small mature oil properties located in west Texas. Together,
daily production from these two property sets averaged approximately 140 BOE
during the first quarter 2009. The company continues to evaluate additional
properties in its asset base for divestiture in concert with its previously
announced intention to raise approximately $5 - $10 million through asset sales
during the 2009 year. Proceeds from the divestitures along with cash flow in
excess of planned capital spending are anticipated to be applied to reduce the
company's outstanding debt, which totaled $255.7 million at June 30, 2009.

Update to Derivative Positions

For the second half of the 2009 year RAM has active derivative positions
associated with daily production equal to approximately 80% and 65% of second
half of the year oil and natural gas production levels, respectively. At June
30, 2009 the company had a total of 552,000 barrels of oil, or 3,000 barrels per
day, of its production hedged at an average floor price of $65.00, as shown in
Table 1. Similarly, RAM has a total of 2.0 Bcf, or 10,995 Mcf per day, of its
natural gas production hedged at an average floor price of $4.55 per Mcf for the
remaining six months of 2009. In keeping with its strategy of maintaining a
rolling inventory of forward derivative positions as an adjunct to cash flow,
the company has also entered into derivative contracts for 2010. RAM has a total
of 957,500 barrels of oil, or 2,623 barrels of oil per day, hedged at an average
floor price of $58.48 per barrel. Similarly, the company has a total of 3.6 Bcf,
or 9,904 Mcf per day, of natural gas production hedged at an average floor price
of $4.70 per Mcf.

Substantial Inventory of Projects

Capital expenditures for the second quarter 2009 totaled approximately $4.5
million bringing spending to $17.7 million for the first half of the year.
Virtually all of the year-to-date expenditures have focused on development
spending aimed at maintaining stable production levels and uncovering additional
locations in existing fields or exploratory spending aimed at identifying
potential projects capable of adding to reserves in the future. As a result, the
company's current inventory of projects has grown to a total of 453 projects, as
shown in Table 2. These project locations represent a deep inventory of
potential activity across RAM's key producing fields and position the company
well for potential growth as the reduction in uncertainty within the economy
encourages additional capital spending.

"RAM's current strategy continues to focus on preservation of value in the
current environment of comparatively volatile hydrocarbon prices and uncertain
near term demand for oil and gas. However, with the company's recently announced
amendment to its credit facility and substantial inventory of projects to
support increased activity and production we have both financial and operational
flexibility to weather the current climate and respond to an improvement in
industry economics," said Larry Lee, Chairman 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 estimates of locations identified as
potential projects, drilling activities, production, capital spending, asset
sale agreements, estimated proceeds from asset sales, oil and gas derivative
positions 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.

Table 1
Derivative Positions
As of June 30, 2009

Crude Oil (Bbls) Natural Gas (MMbtu)
------------------------------- -----------------------------
Floors Ceilings Floors Ceilings
--------------- --------------- --------------- -------------
per per per per
day Price day Price day Price day Price
------- ------- ------- ------- ------- ------- ------- -------
Collars
2009 1,334 $ 60.00 1,334 $79.59 10,995 $4.55 10,995 $10.12
2010 1,503 $ 53.74 1,503 $80.57 5,288 $5.00 5,288 $ 9.23

Bare Floors Bare Floors
-------------- ---------------
per per
Year day Price day Price
------- ------- ------- -------
2009 1,666 $ 69.00 -- --
2010 1,121 $ 64.84 4,616 $ 4.36

Table 2
Substantial Inventory of Projects

RAM has deep inventory of project locations
-------------------------------------------

PUD Probable Possible Total
Mature Oil Fields:

Electra/Burkburnett 106 60 75 241

N.E. Fitts/Allen 63 3 9 75

Developing Fields:

South Texas 30 14 31 75

Barnett Shale 9 18 35 62
-------- --------- -------- --------
Total 208 95 150 453
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CONTACT: RAM Energy Resources, Inc.
Robert E. Phaneuf, Vice President - Corporate Development
(918)632-0680