Ring Energy, Inc. (NYSE:REI) ("Ring" or the "Company") announced today that it has commenced an underwritten public offering of $60,000,000 of shares of its common stock (the "Offering"). The Company intends to grant the underwriters a 30-day option to purchase up to an additional $9,000,000 of shares of its common stock upon the same terms. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed, or as to the actual size or terms of the Offering.

The Company intends to use the net proceeds from the Offering for the