UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549


                                  SCHEDULE 13G


                    Under the Securities Exchange Act of 1934
                               (Amendment No. 1)*


                           RAM Energy Resources, Inc.
--------------------------------------------------------------------------------
                                (Name of Issuer)

                                  Common Stock
--------------------------------------------------------------------------------
                         (Title of Class of Securities)

                                    75130P109
--------------------------------------------------------------------------------
                                 (CUSIP Number)



                                December 31, 2006
--------------------------------------------------------------------------------
             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         [ ]   Rule 13d-1(b)

         [X] Rule 13d-1(c)

         [ ] Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).





          ------------------                                       ---  ---
CUSIP No. 75130P109                                            Page 2 of 9 pages
          ------------------                                       ---  ---


---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Rockbay Capital Management, LP
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             2,295,690
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            2,295,690
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,295,690
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.7%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           PN
---------- ---------------------------------------------------------------------





          ------------------                                       ---  ---
CUSIP No. 75130P109                                            Page 3 of 9 pages
          ------------------                                       ---  ---


---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           RCM Advisors, LLC
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           Delaware
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             2,295,690
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            2,295,690
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,295,690
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.7%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           PN
---------- ---------------------------------------------------------------------





          ------------------                                       ---  ---
CUSIP No. 75130P109                                            Page 4 of 9 pages
          ------------------                                       ---  ---


---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Atul Khanna
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             2,295,690
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            2,295,690
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,295,690
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.7%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------





          ------------------                                       ---  ---
CUSIP No. 75130P109                                            Page 5 of 9 pages
          ------------------                                       ---  ---


---------- ---------------------------------------------------------------------
1          NAME OF REPORTING PERSON
           I.R.S. IDENTIFICATION NO. OF ABOVE PERSON

           Jonathan Baron
---------- ---------------------------------------------------------------------
2          CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                      (a) [ ]
                                                                      (b) [X]
---------- ---------------------------------------------------------------------
3          SEC USE ONLY

---------- ---------------------------------------------------------------------
4          CITIZENSHIP OR PLACE OF ORGANIZATION

           United States
-------------------- ------ ----------------------------------------------------
                     5      SOLE VOTING POWER

                            0
                     ------ ----------------------------------------------------
     NUMBER OF       6      SHARED VOTING POWER
      SHARES
   BENEFICIALLY             2,295,690
     OWNED BY        ------ ----------------------------------------------------
       EACH          7      SOLE DISPOSITIVE POWER
     REPORTING
      PERSON                0
       WITH          ------ ----------------------------------------------------
                     8      SHARED DISPOSITIVE POWER

                            2,295,690
---------- ---------------------------------------------------------------------
9          AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

           2,295,690
---------- ---------------------------------------------------------------------
10         CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

           N/A
---------- ---------------------------------------------------------------------
11         PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

           5.7%
---------- ---------------------------------------------------------------------
12         TYPE OF REPORTING PERSON*

           IN
---------- ---------------------------------------------------------------------





Item 1
          (a)  Name of Issuer

               RAM Energy Resources, Inc. (the "Company")

          (b): Address of Issuer's Principal Executive Offices

               5100 E. Skelly Drive, Suite 650
               Tulsa, OK 74132

Item 2

          (a)  Name of Person Filing

               This statement is filed by the entities and persons listed below,
               who are collectively referred to herein as "Reporting Persons,"
               with respect to shares of Common Stock (as defined in Item 2(d)
               below) of the Company (the "Shares"):

               Investment Manager
               ------------------

               (i)    Rockbay Capital Management, LP, a Delaware limited
                      partnership (the "Investment Manager"), with respect to
                      the Shares held by certain investment vehicles advised by
                      the Investment Manager (each a "Rockbay Fund");

               General Partner
               ---------------

               (ii)   RCM Advisors, LLC, a Delaware limited liability company
                      (the "General Partner"), which serves as the general
                      partner of the Investment Manager, with respect to the
                      Shares held by each of the Rockbay Funds;

               Reporting Individuals
               ---------------------

               (iii)  Mr. Atul Khanna ("Mr. Khanna"), a United States citizen,
                      with respect to the Shares held by each of the Rockbay
                      Funds; and

               (iv)   Mr. Jonathan Baron ("Mr. Baron"), a United States citizen,
                      with respect to the Shares held by each of the Rockbay
                      Funds.

               Mr. Khanna and Mr. Baron are collectively referred to as the
               "Reporting Individuals."

               The Investment Manager serves as the investment manager to each
               of the Rockbay Funds. The General Partner serves as the general
               partner to the Investment Manager. Mr. Khanna is the Chief
               Executive Officer, and Mr. Baron is the Senior Managing Director,
               of the General Partner.

          (b)  Address of Principal Business Office or, if None, Residence

               The address of the principal business office of each of the
               Reporting Persons is:

               600 Fifth Avenue, 24th Floor
               New York, NY 10020

          (c)  Citizenship

               Citizenship is set forth in Row 4 of the cover page for each
               Reporting Person hereto and is incorporated herein by reference
               for each such Reporting Person.


                                      -6-





          (d)  Title of Class of Securities

               Common Stock, $0.0001 par value per share ("Common Stock")

          (e)  CUSIP Number

               75130P109

Item 3.   If this statement is filed pursuant to Sections 240.13d-1(b) or
          240.13d-2(b) or (c), check whether the person filing is a:

          (a) [ ] Broker or dealer registered under Section 15 of the Act.
          (b) [ ] Bank as defined in Section 3(a)(6) of the Act.
          (c) [ ] Insurance Company as defined in Section 3(a)(19) of the Act.
          (d) [ ] Investment Company registered under Section 8 of the
                  Investment Company Act of 1940.
          (e) [ ] Investment Adviser in accordance with Rule 13d-1
                  (b)(1)(ii)(E).
          (f) [ ] Employee Benefit Plan or Endowment Fund in accordance with
                  13d-1 (b)(1)(ii)(F).
          (g) [ ] Parent Holding Company or control person in accordance with
                  Rule 13d-1 (b)(1)(ii)(G).
          (h) [ ] Savings Association as defined in Section 3(b) of the Federal
                  Deposit Insurance Act.
          (i) [ ] Church Plan that is excluded from the definition of an
                  investment company under Section 3(c)(14) of the Investment
                  Company Act of 1940.
          (j) [ ] Group, in accordance with Rule 13d-1(b)(1)(ii)(J).

Item 4.   Ownership

          The information required by Items 4(a) - (c) is set forth in Rows 5 -
          11 of the cover page for each Reporting Person hereto and is
          incorporated herein by reference for each such Reporting Person.

          The Investment Manager, as investment manager to each of the Rockbay
          Funds, may be deemed to be the beneficial owner of all such Shares
          owned by the Rockbay Funds. The General Partner, as general partner to
          the Investment Manager, may be deemed to be the beneficial owner of
          all Shares owned by the Rockbay Funds. Each of the Reporting
          Individuals, as an officer of the General Partner with the power to
          exercise investment discretion, may be deemed to be the beneficial
          owner of all Shares owned by the Rockbay Funds. Each of the Investment
          Manager, the General Partner, and the Reporting Individuals hereby
          disclaims any beneficial ownership of any such Shares.

Item 5.   Ownership of Five Percent or Less of a Class

          If this statement is being filed to report the fact that as of the
          date hereof the reporting person has ceased to be the beneficial owner
          of more than five percent of the class of securities, check the
          following: [ ]

Item 6.   Ownership of More than Five Percent on Behalf of Another Person

          Not applicable.

Item 7.   Identification and Classification of the Subsidiary Which Acquired the
          Security Being Reported on by the Parent Holding Company

          Not applicable

Item 8.   Identification and Classification of Members of the Group

          Not applicable


                                      -7-





Item 9.   Notice of Dissolution of Group

          Not applicable

Item 10.  Certification

          Each of the Reporting Persons hereby makes the following
          certification:

          By signing below I certify that, to the best of my knowledge and
          belief, the securities referred to above were not acquired and are not
          held for the purpose of or with the effect of changing or influencing
          the control of the issuer of the securities and were not acquired and
          are not held in connection with or as a participant in any transaction
          having that purpose or effect.


                                      -8-





                                   SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.

Dated: February 13, 2007

                                            ROCKBAY CAPITAL MANAGEMENT, LP
                                            By: RCM Advisors, LLC


                                            By: /s/ Atul Khanna
                                                --------------------------------
                                                Atul Khanna
                                                Chief Executive Officer


                                            RCM ADVISORS, LLC


                                            By: /s/ Atul Khanna
                                                --------------------------------
                                                Atul Khanna
                                                Chief Executive Officer



                                            /s/ Atul Khanna
                                            ------------------------------------
                                            Atul Khanna



                                            /s/ Jonathan Baron
                                            ------------------------------------
                                            Jonathan Baron