PRESS RELEASE
29 SEPTEMBER 2006
RAMCO ENERGY PLC
(“Ramco” or the “Company”)
Unaudited Interim Results for the six months ending 30 June 2006.
Highlights
• Sale of interest in Seven Heads gas field
• Listing on AIM of Lansdowne Oil & Gas plc
- Ramco retains an interest of 86.25% with a current market value £11.3 million
• Repayment of all remaining recourse bank debt
• Successful appeal in Tenge lawsuit
• Sale of office building in Aberdeen concluded raising £1.5 million
• Cash balances of £3.3 million as at 30 June 2006
Steve Remp, Chairman of Ramco, commented:
“The first half of 2006 has seen Ramco achieve a number of significant milestones and we have now successfully left our recent troubled past behind us. We are now in a position where can start to identify new opportunities with the potential for early cash flow from which we can build for the future.”
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ENQUIRIES:
Ramco Energy - Aberdeen Tel: 01224 352 200
Steven Bertram, Managing Director
College Hill - London Tel: 020 7457 2020
Nick Elwes
Ramco Energy plc
62 Queen's Road
Aberdeen
AB15 4YE
United Kingdom
Tel: +44 1224 352 200
Fax: +44 1224 352 211