RAM Energy Purchases Its Stock from Amaranth

RAM Energy Resources, Inc. (Nasdaq: RAME) has purchased 739,175 shares of RAM Energy Resources, Inc. common stock from Amaranth LLC in a negotiated block sale transaction. The purchase price was a discount to yesterday's closing price of $4.70 per share. The purchase was effected through the company's wholly-owned subsidiary, RAM Energy, Inc. The purchased shares will be held as treasury stock by the company and are eligible for reissue by the company at its discretion. Purchase of the shares was funded with general corporate funds on hand. Larry Lee, RAM's Chairman and CEO, commented, "We feel that the repurchase of our common stock at current price levels represents an attractive use of our capital, expresses the level of confidence we have in our business plan, and will provide an opportunity to increase value for our shareholders. We also feel this repurchase of shares from Amaranth will eliminate any uncertainty associated with their previous ownership in RAM."