RAAM Global Energy Company

RAAM Global Energy Company (RAAM) is a privately-owned Delaware corporation. It was founded in 1986 by Howard Settle (Settle) and Jonathan Rudney (Rudney) to conduct oil and gas exploration and production operations in the Gulf of Mexico and initially operated under the name of Century Offshore Management Corporation. Settle and Rudney are the majority shareholders of RAAM.

RAAM is the parent of Century Exploration New Orleans, Inc., Century Exploration Houston, Inc. and Century Exploration Resources, Inc. RAAM provides administrative, financial and strategic planning support to these three discrete operating subsidiaries that are engaged in oil and gas exploration and production in various regions of the United States. Settle and Rudney are also the majority shareholders of an affiliated company, Century Exploration International, Inc., which is involved in international exploration and production.

From inception, the company has been known for its commitment to utilizing the most advanced, currently available technologies for prospect generation, as well as for field operation and financial innovations. Over the past few years the company has committed over $70 million to acquire, process, re-process and merge large 3-D seismic data sets offshore in the eastern and central Gulf of Mexico and onshore in Louisiana and Texas. Currently 20 full-time geoscientists evaluate this seismic data and a significant, high quality prospect inventory has been developed which is presently being actively exploited.

As of January 1, 2008, the RAAM companies owned interests (mostly operated) in 37 offshore wells from 9 production platforms and 19 onshore wells. RAAM’s oil and gas production revenues for 2007 exceeded $175 million, generating estimated pre-tax income in excess of $55 million and EBITDA in excess of $115 million in 2007.