Ram Energy Amends Senior Credit Facility

Ram Energy Resources Inc. reports the company renegotiated the company’s senior secured credit facility with its commercial lenders.
Effective June 26, Ram and the lenders amended the existing loan agreement to provide for greater flexibility, facilitating execution of the company’s planned $40 to $45 million capital expenditures program in 2009.
The amendment was crafted to ensure compliance by the company with the various financial covenants under the loan agreement through the remaining term of the facility, based on company projections and current commodity futures prices.
In addition, the amendment permits additional asset sales by the company up to an aggregate $10 million per year.

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