Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
JEFFERIES & COMPANY, INC.
   2. Issuer Name and Ticker or Trading Symbol
RAM ENERGY RESOURCES INC [RAME] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director __X__ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
520 MADISON AVE. 12TH FL., 		 3. Date of Earliest Transaction (Month/Day/Year)
12/20/2010
(Street)

NEW YORK, NY 10022		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 12/20/2010   J(1)   73,369 A $ 0 2,244,314 (2) D  
Common Stock               17,198,367 I (2) (3) Notes 2 and 3

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
JEFFERIES & COMPANY, INC.
520 MADISON AVE. 12TH FL.
NEW YORK, NY 10022		     X    
JEFFERIES GROUP INC /DE/
520 MADISON AVENUE
12TH FLOOR
NEW YORK, NY 10022		     X    
Jefferies High Yield Holdings, LLC
THE METRO CENTER, ONE STATION PLACE
THREE NORTH
STAMFORD, CT 06902		     X    
Jefferies High Yield Trading, LLC
THE METRO CENTER
ONE STATION PLACE, THREE NORTH
STAMFORD, CT 06902		     X    

Signatures

 /s/ Roland T. Kelly, Authorized Person   12/21/2010
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On December 20, 2010, ING Furman Selz Investors III L.P. and FS Private Investments III LLC made pro rate distributions of Common Stock to its partners and members for no consideration. Pursuant to these distributions, Jefferies & Company, Inc. received an aggregate of 73,369 shares of Common Stock.
(2) Jefferies & Company, Inc. may be deemed to be the beneficial owner of 17,198,367 shares of Common Stock. This number consists of 2,244,314 shares of Common Stock held for its own account and 14,954,053 shares of Common Stock held for the account of Jefferies High Yield Trading, LLC.
(3) Jefferies Group, Inc. may be deemed to be the beneficial owner of 17,198,367 shares of Common Stock. This number consists of 2,244,314 shares of Common Stock held for the account of Jefferies & Company, Inc. and 14,954,053 shares of Common Stock held for the account of Jefferies High Yield Trading, LLC. Jefferies High Yield Holdings, LLC may be deemed to be the beneficial owner of 14,954,053 shares of Common Stock. This number consists of 14,954,053 shares of Common Stock held for the account of Jefferies High Yield Trading, LLC.

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