TEGY Transact Energy Corporation (CE)

Tremisis Energy Acquisition Corp. (OTCBB: TEGY), today announced that RAM Energy, Inc. has entered into a new credit facility with Guggenheim Corporate Funding, LLC, as agent on behalf of participating lenders. In October 2005, Tremisis announced that it had entered into a definitive agreement to acquire RAM pursuant to which RAM, an Oklahoma based independent oil and gas production company, will become a wholly-owned subsidiary of Tremisis upon consummation of the acquisition subject to the conditions filed with the SEC on October 26, 2005, as amended. The $300 million senior secured credit facility includes a $150 million, four-year revolver and a $150 million, five year term loan. Initial borrowing limits under the facility provide $50 million under the revolver and $90 million under the term loan, or a total of $140 million of immediately available credit. Proceeds from the new credit facility will be used to repay RAM's existing credit facility under which $83.9 million was outstanding at year-end 2005, to fund certain expenditures pursuant to the proposed acquisition of RAM by Tremisis and for general corporate purposes. RAM's outstanding $28.3 million of 11.5% Senior Notes due 2008 are unaffected by the new credit facility. About Tremisis Energy Acquisition Corporation Tremisis, based in New York, New York, was incorporated in January 2004 to acquire an operating business in the energy or environmental industry. Tremisis consummated its initial public offering on May 18, 2004, receiving net proceeds of approximately $34 million through the sale of 6.325 million units of its securities at $6.00 per unit. Each unit was comprised of one share of Tremisis common stock and two redeemable and convertible common stock purchase warrants having an exercise price of $5.00. Tremisis holds over $33.5 million in a trust account maintained by an independent trustee, which will be released to the company upon the consummation of the merger with RAM (less any amounts returned to Tremisis stockholders who elect to convert their shares to cash in accordance with Tremisis' charter). Additional information about Tremisis as well as relevant risks are detailed in Tremisis' filings with the Securities and Exchange Commission, including its report on Form 10-QSB for the period ended September 30, 2005. About RAM Energy, Inc. RAM Energy, Inc is a Tulsa, Oklahoma based independent oil and gas company engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties and the production of oil and natural gas. RAM's producing properties are located primarily in Texas, Oklahoma and Louisiana and Mississippi. Forward-Looking Statements This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, including, without limitation, statements regarding RAM's financial position, business strategy, plans and RAM's management's objectives and its future operations, and industry conditions, are forward-looking statements. Although RAM believes that the expectations reflected in such forward-looking statements are reasonable, neither Tremisis nor RAM can give any assurance that such expectations will prove to be correct. Important factors that could cause actual results to differ materially from RAM's expectations ("Cautionary Statements") include, without limitation, the actual quantities of RAM's oil and natural gas reserves, future production levels, future prices and demand for oil and natural gas, the results of RAM's future exploration and development activities, future operating and development costs, the effect of existing and future laws and governmental regulations (including those pertaining to the environment), the results of future financing efforts, and the political and economic climate of the United States. All subsequent written and oral forward-looking statements attributable to Tremisis or RAM, or persons acting on their behalf, are expressly qualified in their entirety by the Cautionary Statements. Neither Tremisis nor RAM assumes any obligation to update the information contained in this press release. Additional Information Tremisis stockholders are urged to read the proxy statement regarding the proposed transaction when it becomes available because it will contain important information. Copies of filings by Tremisis, which will contain information about Tremisis and RAM, will be available without charge, when filed, at the Securities and Exchange Commission's internet site (http://www.sec.gov), and, when filed, will be available from Tremisis, without charge, by directing a request to Tremisis Energy Acquisition Corporation, 1775 Broadway, Suite 604, New York, New York 10019.