RING ENERGY INC

Ticker: REI CUSIP: 76680V108 Class: Common Stock

EMERALD MUTUAL FUND ADVISERS TRUST's Holding History (CIK: 0001352895)

Note: Option positions (PUT/CALL) are excluded.

Q2 2018

Shares 525,000 Value ($000) $6,626 Avg Close $14.53 Range $11.87 - $17.35

Q1 2018

Shares 527,859 Value ($000) $7,575 Avg Close $14.54 Range $12.77 - $16.09

Period	Shares	Value ($000)	Average Close	Price Range
Q2 2018	525,000	$6,626	$14.53	$11.87 - $17.35
Q1 2018	527,859	$7,575	$14.54	$12.77 - $16.09