Riata Energy, Inc. Announces an Amendment to Its Registration Rights Agreement and the Relocation of Its Corporate Headquarters

OKLAHOMA CITY, June 21  /PRNewswire/ -- Riata Energy, Inc. today announces that a majority of the holders of common stock purchased in its December 2005 private placement approved an amendment to the Company's Registration Rights Agreement to allow the Company to delay the registration of the shares sold in its December private placement until April 15, 2007 without incurring penalty payments under the agreement.  This amendment will provide the Company additional time to relocate its corporate headquarters to Oklahoma City, as discussed below, and continue the integration of the new members of its management team and the execution of its business plan before becoming a public company.

In addition, the Company announces the relocation of its corporate headquarters from Amarillo, Texas to Oklahoma City at 1601 Northwest Expressway.  The Company has already begun relocating and expects to complete the relocation by late August.

Riata Energy is an oil and natural gas Company with its principal focus on exploration and production.  The Company also owns and operates drilling rigs and a related oil field services business operating under the Lariat Services Inc. brand name; gas gathering, marketing and processing facilities; and, through its subsidiary PetroSource Energy Company, CO2 treating and transportation facilities and tertiary oil recovery operations.  The Company has focused its exploration and production activities in West Texas where it has concentrated a large, focused acreage position, and more recently, it has expanded its operations into the Piceance Basin in northwestern Colorado.

   For further information, please contact:

   John Gaines
   [phone] ext 195
   email:  

DATASOURCE: Riata Energy, Inc.



CONTACT:  John Gaines of Riata Energy, Inc., [phone], ext. 195,

or  



Web site:  http://www.riataenergy.net/ 

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