RAAM Global Energy Company

RAAM Global Energy Company (RAAM) is a privately-owned Delaware corporation. RAAM is the successor to an earlier company 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. Settle and Rudney are the majority shareholders of RAAM.

RAAM is the holding company of three operating subsidiaries - Century Exploration New Orleans, Inc., Century Exploration Houston, Inc. and Century Exploration Resources, Inc. RAAM also owns the majority interest of a discrete exploration and production company, Champion Exploration, LLC. RAAM provides administrative, financial and strategic planning support to its subsidiaries and to Champion. These companies are all engaged in oil and gas exploration and production in various regions of the United States.

Since its inception, RAAM has utilized the most advanced technologies pertaining to the different facets of its business and over the years has made substantial investments in these technologies. To enhance its prospect generation capabilities, in recent years RAAM has expended over $80 million on acquiring, processing, reprocessing and merging large 3-D seismic surveys offshore in the Gulf of Mexico and onshore in Louisiana and Texas. Approximately 20 full-time geoscientists generate quality prospects from this high-graded inventory of seismic data. The RAAM companies are active in leasing, drilling and developing this extensive portfolio of internally-generated prospects.

As of January 1, 2009, the RAAM companies owned interests, primarily as operator, in 27 offshore wells (producing from 14 production platforms) and numerous onshore wells. RAAM's oil and gas production revenues for 2008 exceeded $200 million. RAAM's 2008 pre-tax income exceeded $100 million and EBITDA exceeded $200 million.