RAM Energy Resources

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During 2008, Tulsa, OK-based RAM Energy Resources (Nasdaq: RAME) developed a Devonian shale play consisting of a dozen vertical and horiontal wells located in its Cornstalk Project obtained as part of its acquisition in late 2007 of Ascent Energy Inc. RAM has focused on targeting the Huron shale at approximately 6,400 feet deep and proving the commerciality of its acreage. In addition, the company has purchased a fourteen mile pipeline gathering system and additional production and reserves in the area.

RAM owns drilling rights to 44,987 net acres in Mason and Cabell Counties, West Virginia where it has drilled a mix of several vertical and horizontal wells and owns gathering and transportation facilities.

The company also holds leases in the neighborhood of the Cornstalk Project in Green Park and Bug Run. It holds a total of 51,000 net acres in West Virginia.

RAM also holds leases on 11,000 acres north of the Kanawha River. In order to conduct further evaluation, the company is combining its acreage with that of another operator in the same area who owns an an additional 11,000 acres. RAM's acreage is in the Bug Run prospective area.

• Larry Lee is Chairman and CEO of RAM Energy.