Cannell Capital LLC Plans to Vote “No” at Ring Energy, Inc. Annual Meeting

Jackson, Dec 7, 2018 (Issuewire.com) - Following a loss of confidence in the board of directors of Ring Energy, Inc. (REI), Cannell Capital LLC has voted against all incumbent directors. Cannell encourages other shareholders to do the same by December 10 before REIs annual meeting which meeting is scheduled to occur in Midland, Texas at 10 AM on December 11th.

Factors contributing a loss of confidence by Cannell include:

I. Lack of scale it is hard to grow a dairy with only two cows (or rigs) REI needs to merge up or into another company or companies. There are several private companies in or around the Permian Basin with better assets, a more modern and iterative approach to completion and superior well-by-well estimated ultimate recoveries and resulting net present values;

II. Lack of understanding of what being a public company means today. Low knowledge of capital structure return on assets, equity and the deployment of debt. The recent mismatch between the expectations set by management and her results suggest more naiveté; and

III. An unwillingness by REI to buy back shares paired with a nonsensical answer as to why not. We prefer management and directors who eat what they bake. REIs good to great internal rates of return is also not consistent with insider selling. Were things as rosy as management processes, then one would expect to buy not selling the sundry excuses of management and the board of directors notwithstanding.

Cannell Capital LLC believes that REI has value perhaps great value. It does not believe, however, that shareholders current stewards are necessarily the best management for this stage in the companys development.

Informed REI shareholders should vote no at next weeks annual meeting.

Contact:               Stephen W. Wagstaff

                             SCW@CANNELLCAP.COM

Media Contact

Cannell Capital LLC

scw@cannellcap.com

3077332284

http://www.cannellcapital.com