PRESS RELEASE

23 APRIL 2007

Conclusion of Litigation

Ramco Energy plc ("Ramco" or the Company)

 

Ramco Energy plc ("Ramco") is pleased to announce a final favourable decision in the long-running Tenge lawsuit in Texas at the level of Texas’ highest court. 

Ramco won the appeal in this case in June 2006 and in October 2006 the plaintiffs’ first request for a review of the appeal was denied by the 14th Texas Court of Appeals.

In January 2007, the plaintiffs petitioned the Texas Supreme Court to review the decision of the Court of Appeals.  That motion was denied by the Court on 2 March 2007, with the Supreme Court determining that the plaintiffs’ petition did not present any error which required reversal.   The plaintiffs then asked the court to re-hear their petition without introducing any fresh material.

On Friday 20 April, 2007 the Texas Supreme Court denied the plaintiffs’ rehearing request bringing this long running lawsuit to a conclusion.

Steve Remp, Chairman of Ramco, said:

“Since winning the Appeal in this case last June we have been frustrated in our efforts to move Ramco forward by the plaintiffs’ vain attempts to protract this litigation indefinitely. I am delighted that the Texas Courts have now brought this to an end and now look forward to making faster progress with our turnaround plans.”

 

 

ENQUIRIES:

Ramco Energy plc- Aberdeen
Steven Bertram, Managing Director,   Tel: 01224 748480

John East & Partners Limited
David Worlidge,   Tel: 020 7628 2200

College Hill - London    
Nick Elwes,   Tel: 020 7457 2020

 

 


Ramco Energy plc
Britannia House
Endeavour Drive
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6UF
United Kingdom
Tel: +44 (0)1224 748480
Fax: +44 (0)1224 748481

 

 

 

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