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Cawley, Gillespie & Associates, Inc. petroleum consultants 6500 RIVER PLACE BLVD, SUITE 3-200 306 WEST SEVENTH STREET, SUITE 302 1000 LOUISIANA STREET, SUITE 1900 AUSTIN, TEXAS 78730-1111 FORT WORTH, TEXAS 76102-4987 HOUSTON, TEXAS 77002-5008 512-249-7000 817- 336-2461 713-651-9944 www.cgaus.com

We hereby consent to the use of the name Cawley, Gillespie & Associates, Inc., to the references to us and to our reserves reports for the years ended December 31, 2023, December 31, 2022, and December 31, 2021, in Ring Energy, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023, to references to our report dated January 26, 2024, containing our opinion on estimates of proved reserves, future production and income attributable to certain leasehold interest of Ring Energy, Inc. as of December 31, 2023 (our “Report”), and to the inclusion of our Report as an exhibit in Ring Energy, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2023. We also consent to all such references and to the incorporation by reference of such information and our Report in Ring Energy, Inc.’s Registration Statements on Form S-3 (Nos. 333-229515, 333-230966 and 333-237988) and Form S-8 (Nos. 333-191485 and 333-257633).