On September 30, 2020, Ring Energy, Inc. announced that its Board of Directors appointed Mr. Paul D. McKinney as Chairman of the Board, effective October 1, 2020. In connection with the appointment of Mr. McKinney, Lloyd T. Rochford, Chairman of the Board will resign from their respective positions, effective as of October 1, 2020. Mr. Rochford and Mr. Hoffman also resigned from the Board on October 1, 2020, effective October 1, 2020. Immediately prior to joining the company, Mr. McKinney, age 61, held the position of President, CEO and Director of SandRidge Energy for approximately one year. Prior to SandRidge Energy, from June 2014 to January 2019, Mr. McKinney served in various positions with Yuma Energy, Inc., including President and Chief Operating Officer.
Ring Energy, Inc. is an oil and gas exploration, development, and production company. The Company is focused on the development of its Permian Basin assets. Its primary drilling operations target the oil and liquids-rich producing formations in the Northwest Shelf and the Central Basin Platform, in the Permian Basin in Texas. The Company's leasehold acreage positions total approximately 96,127 gross (80,535 net) acres, and it holds interests in approximately 1,043 gross (864 net) producing wells. All of its properties are located in the Permian Basin and its proved reserves are oil-weighted, with approximately 63% consisting of oil, 19% consisting of natural gas, and 18% consisting of natural gas liquids. Of those reserves, approximately 68% are classified as proved developed and 32% are classified as proved undeveloped. Its proved reserves are approximately 129.8 million barrels of oil equivalent (BOE).
RING ENERGY, INC. 
