does anyone know why ramco has all of a sudden taken off today ....i cant find any news out but all of a sudden up nearly 11

Dont know or care just let it go I have got a bag full of them, at 97p.

Would be interested to know too, got in at 39 on their way down and was getting a little nervous.

they still have their contracts to fulfil, but these will expire in a few months. the shares have been,IMHO, oversold and they will still be able to sell product at a higher price. Update also due I believe. Perhaps someone in the know has leaked info, big trades gone thru, others jumping on- board. Many bought in at 80-95p level a month ago after dramatic drop earlier in year. Fingers crossed for return to these levels. Any other info gratefully recvd.

They are up again but they still owe me money. I dont know why they have such a big spread on them 5p anyone tell me why, I dont know how that works Thanks

All good news as we bought in at three stages, in profit on the last lot and almost there with the middle batch. May it go back to a reasonable value as I consider it was way oversold. Only concern is that the buys, although there are a lot of them, are all ordinary trades on generaly small volume. Will be happier when I find out why the price is going up and see some substantial buy orders going in.

They had a problem with pressure to get the oil out hence the drop, but now they have discovered what the problem is.
Guru

guru
stick to knitting this is a gas field.

gas oil whatever they are trying to get out of the ground it was a pressure problem and they have found the cause, didn't pay that much attention to the guy telling me. But it is the reason why the share price has shot up.
Guru

Found out what the problem was or fixed it?

The last time they tried to fix the water cut on the 7 sisters it failed, hence the plummet from 100p down to 30p.

Have they sorted out the problem now or is this just a fluke. I have looked all over for any news , cant find anything

Well there's the first big buy or sell at 100,000 shares. It was a questionmark on the live stream.

Looks like a buy from the price they paid for it , but quite a lot of sells now but then its getting near the weeekend

guru

I d like a scarf

re news today, does anyone else agree that this means RAMCO are not going bust. If three fifths of the gas is present RAMCO are extremely cheap, announcement may of course be that even less gas is present, but if RAMCO can stabilise the production at this level they may be able to increase production by more drilling etc., in due course

can`t belive it rise a lot and drop it back at the end of the day

Be careful out there people! Me thinks MMs are having a bit of a field day on this one. As with any spectacular rise there's alot of wild speculation among us ants and I suggest they seem to have carte balanche to raise the price willy-nilly just after - well, "stone the crows" they have bought stock themselves. Don't get your fingers burnt. I'm still on the sidelines!

The share price higher than on open but there's more sells than buys??????

How does that work??

just because they appear as sells doesnt mean they always are especially when the price is up and down so much....ie some might be delayed buys

For you guys, Get out of these while you can. Strong Sell, Best Wishes.

Article below in Sunday Times:

Sunday - Business

May 16, 2004

Sharewatch: Ramco Energy
Feeling the pressure

RAMCO ENERGY: Not all is well in the oil and gas sector, despite soaring oil prices and the extraordinary performance of Edinburgh’s Cairn Energy. Ramco Energy, based in Aberdeen, has suffered a string of setbacks in its Seven Heads gasfield off the Irish coast. The bad news culminates in what the company calls “a substantial impairment” which will be reported to the stock exchange this week. Seven Heads, which comprises all Ramco’s production output, has encountered severe difficulties since it went on stream last Christmas, as a result of water intrusion cutting back gas pressure and inhibiting production. The market expects the company to write down its entire exposure to Seven Heads and the outlook is “grim to dreadful”, according to one broker who is warning investors away. Ramco, founded by its chairman Steve Remp, has the former defence secretary Malcolm Rifkind on the board. Shares have fallen from above 4 to close at 40.5p last week in highly volatile trading, and two brokers covering the company rate it as a strong sell.

http://www.timesonline.co.uk/newspaper/0,,2769-1110878,00.html

Maybe so but even if the outlook is as bad as writing down the entire exposure I still think that all is not lost. They have just signed a farm-out agreement on the oil reserves at seven heads that will give them a share of the oil revenues with none of the exploration cost. On the remaining gas fields, exploration rights in Montenegro and Poland they still have substantial assets to play with and likely that a rival would take these on. Consider Net Asset Value of 72mm and Current Market Cap of 14.9mm. It's still a risky buy but the price hike last week might lend some clues. Worth watching the trading on Monday.

RAMCO GRANTS FARM OUT OPTION OVER
SEVEN HEADS OIL POTENTIAL

Ramco Energy plc (Ramco), the Aberdeen-based exploration and production company
announces that its wholly owned subsidiary, Ramco Oil & Gas Limited (ROG) has
granted a farm out option over its Seven Heads Oil Licensing Option (03/5) to
Island Assets Limited (IAL).

The Seven Heads Oil Licensing Option covers part blocks 48/22, 48/23, 48/24, 48/
27, 48/28, 48/29 & 48/30, the same area as the Seven Heads Gas Lease, but
relates to oil discoveries in deeper Lower Cretaceous reservoirs, below the gas
field.

Oil was initially discovered on these blocks by Esso in 1974 and tested 40
degree API oil at a rate of 1,527 barrels of oil per day (bopd). A subsequent
appraisal well, drilled by Marathon in 1990 tested 45 degree API oil at 1,619
bopd.

Under the terms of the farm out option IAL will act as technical manager and
will fund ROG's share of the current work programme earning the option to farm
in to the acreage. To exercise the option IAL must fund 100% of ROG's share of
drilling an appraisal well to test the oil accumulation. On completion of the
well IAL will have the right to acquire a 44.4% interest in the acreage, leaving
ROG with an interest of 29.6%.

The current interests in Licensing Option 03/5 are: Ramco Oil & Gas Limited
(Operator) 74%, Lundin Ireland Ltd 25% and Sunningdale Oils (Ireland) Limited
1%.

Ramco Energy plc has a 2.96% shareholding in IAL.

Seven Heads Gas Field Update

The ongoing technical review of the Seven Heads gas field is progressing and we
anticipate making a detailed update statement to the Stock Exchange during the
course of next week. This update will quantify what will be a substantial
impairment provision against the carrying value of our investment in the Seven
Heads gas field. The Company now expects to announce its preliminary results for
2003, which will reflect that impairment provision, during the early part of
June.

Have logged onto wife's moneyam and am writing this whilst in the control room of a drilling rig, (Egyptian gas/oil field, not Irish Sea) so we should have some idea what everyone is talking about. Although the loss of gas reserves is a great concern and will devalue the company it is not considered it should bring a share that is GBP 4 + (with brokers saying a value of over 600+p) all of a sudden down to 40p. Ramco have other acreage, oil and gas, and it is not believed that all the gas has suddenly dissappeared, but a reduction in reserves. Needless to say the market always panics on bad news and there is no guarantee that when the impairment figures are released there will not be more panic and a further reduction in the stock price. If this is so I shall be buying more (already bought some at the bottom & at the 1 GBP stage) Once the sensible heads gain ground over the panic merchants maybe a realistic pricing for the share will occur.

re Times article, this states water intrusion cutting back gas pressure, so the gas is there. Off Gt. Yarmouth Shell are producing gas from old fields by pumping mud down the well, the mud when brought back to the surface contains gas (like frothy coffee), this is then seperated and the mud is pumped back down the well to start the process again. So if the gas is present although,
not as much as first estimated, it can be produced although not as cheaply as under natural pressure.

rebounded today despite the Times article - they will make an announcement to the city this week...anyone know when?

check out the ROS trades so far today - all buys - moving in ahead of this week's announcement.

do you think it will be good new, (i hope) and have you read something someplace or is it just to buy s or just that gut feeling

Can anyone eplain to me about the spread on ramco. or whay on some shares its 1p and then others its up 5p and its nothing to do with the price of the shares Thanks

On this stock I think the market is braced for truly dreadful news and has already factored this into the price..4 weeks ago there was a view that this one could be ready to go belly up...if it's merely awful news or better still bad news then that's upside. From the very little I have gleaned (and this may not be reliable) they have a pretty solid survival plan to communicate, based on tight cost control and the farming out of their Irish Sea oil exploration rights (but retaining a share of future production revenues). They have got a partner to undertake 100% of all exploration costs which will ease their cashflow, enable some future growth and progress despite the impairment reserves and write-offs associated with Seven Heads. The gas interests should still be profitable although clearly less ecenomic than initially expected due to more challenging yields and lower than anticipated reserves. It feels like bad news but perhaps not quite as bad as everyone was afraid of.

up 21% so far today

Some more explanation on the farm-out deal. This looks like a creative solution to keep them solvent and continue their exploration arm in a cost effective way - critical for longer term viability...

Ramco Oil & Gas Limited (ROG) has granted a farmout option over its Seven Heads Oil Licensing Option (03/5) to Island Assets Limited (IAL).

The Seven Heads Oil Licensing Option covers part blocks 48/22, 48/23, 48/24, 48/27, 48/28, 48/29 & 48/30, the same area as the Seven Heads Gas Lease, but relates to oil discoveries in deeper Lower Cretaceous reservoirs, below the gas field.

Oil was initially discovered on these blocks by Esso in 1974 and tested 40 degree API oil at a rate of 1,527 barrels of oil per day (bopd). A subsequent appraisal well, drilled by Marathon in 1990 tested 45 degree API oil at 1,619 bopd.

Under the terms of the farmout option IAL will act as technical manager and will fund ROG's share of the current work programme earning the option to farm in to the acreage. To exercise the option IAL must fund 100% of ROG's share of drilling an appraisal well to test the oil accumulation. On completion of the well IAL will have the right to acquire a 44.4% interest in the acreage, leaving ROG with an interest of 29.6%.

Up 25% since start of week on oil industry rumours and I believe that there could well be more to follow when they announce the recovery plan this week - new sub oil reserves in Ireland to be explored and drilling programme in Montenegro will be fully backed. Reserves not as poor as initially feared critically gas reserves in Irish Sea. They have also won over the bankers and initial solvency fears have been allayed. This is only on the oil business grapevine where I have some network from a previous life so treat it with caution.... but knowing how hard they have worked in the last 6 weeks to get the books to balance and keep the business afloat and growing, it could be worth a punt. I should echo SueHelen's comment at the week-end, analyst sentiment is firmly in the strong sell category so proceed at your own risk as it could still go pear shaped.

They will most likely announce tomorrow although it could slip until Friday. 03 results deferred to June (post the impairment provision) which I think is a good sign. This one still has a way to go to recover to the 3-4 level but if you want a gamble then expect a significant bounce on better then expected news.

expect bad news tomorrow, why bother..

RNS Number:9291Y
Ramco Energy PLC
20 May 2004


Press Information

May 20th 2004

RAMCO SEVEN HEADS UPDATE

Ramco Energy plc (Ramco), the Aberdeen based exploration and production company,
announces an update for the Seven Heads Gas Field in the Celtic Sea, and its
related financial impact on the Group. Ramco Seven Heads Limited (RSHL), a
wholly owned subsidiary of Ramco, is Operator of the gas field.

Technical Review

An initial technical review of the geological, geophysical and recent production
data has now been concluded. It is clear from the performance of the producing
wells that deliverability from the reservoir is much poorer than had been
predicted. This lower deliverability has led to the previously reported issue of
water build up in some of the wells, which has acted to further restrict
deliverability.
The results of the 2001 appraisal well and five earlier exploration wells led to
a conclusion that a common gas water contact existed across the field. However,
the field's performance since production commenced and subsequent technical work
suggest that this key conclusion, upon which the reservoir model used for
planning the development and for reserves estimates was based, is erroneous. It
is now believed that a series of different gas water contacts exist across the
field, a phenomenon known as "stacked pay".

The existence of multiple gas water contacts suggests the reservoir is more
compartmentalised and each of the five producing wells is connected to a smaller
volume of gas bearing rock than had previously been thought. If this proves to
be the case, it is likely that further wells will be required to enable maximum
reserves recovery. It is also likely that a different well design will be
required for optimal gas recovery.

Work to develop a revised reservoir model has already commenced. This will take
several months to complete and will be an important tool for reassessing the
field's recoverable reserves and designing a future work programme.

Current Production and Trading

Data acquisition is paramount in determining the field's future deliverability
and recoverable reserves. In order to enhance data acquisition, the Seven Heads
partners elected to restrict the field's production. With effect from the start
of April, daily production from the field has been set and maintained at 25
mmscf/d. This has allowed a sequence of single wells to be shut in for periodic
acquisition of reservoir performance information without requiring a full field
shut in. This production rate management decision has also enabled the removal
of any water that has built up in the weaker wells when the wells are returned
to production after being shut in.

The daily production rate of the field is affected both by the pressure at which
the onshore pipeline system is being operated and by the production and capacity
re-profiling activities of Marathon's Kinsale facility. The decision to produce
the field at below its maximum capability has enabled the Seven Heads partners
to manage the field in a more efficient manner by reducing the exposure to
fluctuations from outside sources. This both facilitates the cost effective
management of gas transportation capacity requirements and ensures that revenue
per mmscf/d is maximised.

Ramco's 86.5% share of production at the 25 mmscf/d level is generating
sufficient revenue to fully cover operating costs, loan interest and the cost of
the back up transportation needed to ensure that its full nomination under the
Gas Sales Agreement (GSA) is delivered to RWE. Following discussions to clarify
the application of transportation system rules it has become clear that the
previous estimates of the cost of this facility were overstated. It is now
estimated that the total cost to Ramco for the capacity required to support
field production at the current level of 25 mmscf/d is #4m. Over the first three
months of the year Ramco has recorded a small profit on its substitute gas
transactions. As confirmed in previous announcements, gas sales nominations
under the GSA can be reset from October 1st 2004.

Banking

The lower than anticipated production from the field, coupled with the
unforeseen costs of the technical studies and the back up transportation system
mean that RSHL is generating much less cash from the field than had been
expected. Discussions have commenced with our bankers over the possible
rescheduling of the #56.6m non-recourse project loans and the #12m loan secured
over Ramco's oil services business. To the extent that the final technical
review recommends further work, such as the acquisition of 3D seismic, the
reworking of existing wells, the drilling of new wells or the provision of
compression, it is likely that significant additional funds will be required.
RSHL has commenced preliminary discussions with its bankers and a number of
third parties as to how this additional investment might be structured.

Impairment Provision and Impact on Net Assets of the Group

As indicated earlier it will take several months more to complete the technical
work required to support a revised reserves report on the field. As a result the
Directors believe that the right course of action is to base an impairment
review of the carrying value of the Group's interest in the Seven Heads Gas
Field on the proved reserves that can be directly attributed to the five
producing wells. This prudent approach gives rise to an impairment provision of
#93m. In addition a provision for tax of #23m, in respect of a held-over gain,
is now no longer expected to crystallise and has been released. The impairment
adjustment together with the release of tax will reduce the net assets of the
Group by #70m and will be reflected in the 2003 results which are now expected
to be announced in the first half of June 2004.

The Seven Heads partners are RSHL (Operator) 82.5%, Northern Exploration Limited
(a wholly owned subsidiary of Ramco) 4%, Lundin Ireland Limited 12.5% and
Sunningdale Oils (Ireland) Limited 1.0%.

ENQUIRIES:

Ramco Energy - Aberdeen
Steven Bertram Group Financial Director 01224 352 200

Fleishman-Hillard Saunders - Dublin
Michael Parker 00353 1 618 8450

College Hill - London
James Henderson 020 7457 2020



This information is provided by RNS
The company news service from the London Stock Exchange

END

Thats good news folks !

Certainly better than was predicted by many though less specific on plans for the other reserves which I would have anticipated. Still a lot of unknowns.

but I agree keepitup there is an important section in here that bears reitrating given the viability fears:-

Ramco's 86.5% share of production at the 25 mmscf/d level is generating
sufficient revenue to fully cover operating costs, loan interest and the cost of
the back up transportation needed to ensure that its full nomination under the
Gas Sales Agreement (GSA) is delivered to RWE. Following discussions to clarify
the application of transportation system rules it has become clear that the
previous estimates of the cost of this facility were overstated. It is now
estimated that the total cost to Ramco for the capacity required to support
field production at the current level of 25 mmscf/d is 4m. Over the first three
months of the year Ramco has recorded a small profit on its substitute gas
transactions.

i.e. not only solvent but profitable - previous cost estimates overstated...

gone down far too much!!! mms tryin to buy our shares.... the crafty gits..

Well oversold and panicky negative sentiment -expect a bounce back today and this week.

spreads tightening, that is very good news!!!

Can anyone let me know any details of the legal dispute in the US? I was considering buying in on the basis that the bad news is already in place... but if they lose their appeal that is another $6.4 they will need to find from their limited cash reserves. Which could delay development / progress on 7H.

In particular, I would like to know what the dispute is about and what is the financial implications of losing? Have they made any provision for the loss? I couldn't see anything in the accounts.

Thanks
sk

Try:-
http://moneyam.uk-wire.com/cgi-bin/articles/200404081500015170X.html

Fly by Night

Red

Well, here's the preliminary results and to an amatuer eye looks to me as if it may be time to get out for a few months. A Montenegro exploration well in 1st quarter '05 perhaps looks like the next interesting time.


RAMCO ENERGY plc
("Ramco" or "the Company")

Preliminary Results for the year ended 31 December 2003

Ramco, the oil and gas exploration, production and oil services company
announces its preliminary results for the year ended 31 December 2003.

SUMMARY

Financial Results:

Turnover increased 24% to 20.8 million (2002: 16.8 million)

Losses before exceptional items were reduced to 3.4 million (2002: loss
6.8 million)

Exceptional items of 99.2 million relating primarily to Seven Heads
impairment provision announced in May

Net loss of 76.7 million after release of tax provisions

Discussions ongoing with lenders over rescheduling of project loans

E&P Operations:

Seven Heads field brought on stream at the end of 2003
Initial production level achieved of 60 mmscf/d

Major unforeseen problems encountered at the end of January 2004
Production deliberately being maintained at 25 mmscf/d, below maximum
potential

Detailed technical review of reservoir, which will underpin future
development programme, is in progress

Farm-out option over the oil potential underlying Seven Heads agreed with
Island Assets Ltd

Exploration work on our Adriatic prospects offshore Montenegro gives grounds
for optimism
Interpretation of 3D seismic data acquired in 2003 encouraging; results
indicate a range of shallow gas and deeper, very large, oil prospects

Drilling plans being finalised and farm-in partner being sought for a well
by early 2005

Oil Services
Oil Services remained profitable in difficult market conditions and
indications of steady improvement in business performance


Steve Remp, Executive Chairman of Ramco, commented:

"Our achievements in 2003 have been overshadowed by the unexpected problems at
Seven Heads. We are, however, taking positive action to stabilise our
operational and financial position, so that we are able to derive the maximum
value from the field, and exploit the potential elsewhere in our portfolio."


ENQUIRIES:

Ramco 01224 352 200
Steve Remp, Executive Chairman
Dan Stover, Chief Operating Officer
Steven Bertram, Group Financial Director

College Hill 020 7457 2020
James Henderson
Nick Elwes

Chairman's statement 2003

The production problems encountered, since the start of 2004, with our Seven
Heads gas development have obviously been difficult for the Company, and they
have demonstrated, rather forcefully, the risks inherent in our industry.

Following our successful exit from Azerbaijan in 2000, our focus has been the
Seven Heads gas field offshore Ireland. This was part of a strategy to reinvest
a large amount of capital from a high risk region of the world into a gas
development in an economically low risk area, a stable country with a growing
appetite for gas. The anticipated cash flow was destined to fund our future
exploration activities in higher risk, higher impact areas, such as Montenegro.

During 2003 the majority of the company's resources were focused on completing
the technically and financially demanding job of bringing the Seven Heads
development on stream. The field successfully commenced production at the end of
2003. We took great satisfaction in the fact that this fast track development
had been professionally managed in challenging circumstances. However, that
success has since been overshadowed by unexpected production problems. Work on a
revised reservoir model is under way and will be completed over the next few
months. That will underpin a reassessment of the field and help determine a
future development programme designed to maximise the economic recovery of the
field's reserves.

As already announced, the Board has made a substantial impairment provision
against the carrying value of our interest in the Seven Heads gas field and that
provision dominates the financial results for the year.

Financial Results

Group turnover for 2003 totalled 20.8 million, up from 16.8 million in 2002,
reflecting the commencement of gas sales under our Seven Heads gas contract and
a decline in activity levels for Oil Services. Losses before exceptional
operating items fell to 3.4 million from 6.8 million in 2002.

Exceptional operating items are however significant, totalling 99.2 million as
follows:

million
Seven Heads 93.0
Poland 5.6
Tenge 0.6
----
99.2

The Seven Heads amount relates to an impairment provision against the carrying
value of the gas field. The second item relates to a provision that has been
made against a loan due from an associated company through which we hold our
exploration acreage in Poland. Although we have discovered gas on the acreage
the area is likely to require significant further investment before
commerciality could be confirmed. At this time the Group does not have the funds
available to guarantee our continued involvement in the area. The final
exceptional item represents the estimated legal costs expected to be incurred
in our appeal against the Tenge judgement in Texas, being management's best
estimate of the outcome of the appeal.

Administrative expenses rose to 1.8 million from 1.4 million the previous
year, whilst exchange losses reduced to 686,000 from 2.8 million in 2002. Net
interest income reduced from 1.8 million in 2002 to 738,000 in 2003.

The overall result before tax for the year which, as indicated above, is
primarily the result of significant exceptional items, is a loss of 104.1
million. This loss has been reduced by a tax credit amounting to 27.4 million,
including the release of a provision for current and deferred tax relating to
the held over gain on profit arising from the disposal in 2000 of the Group's
interest in the ACG field in Azerbaijan. The Group after tax loss is 76.7
million, (2002: loss 9.3 million). The Board is not recommending payment of a
dividend (2002: nil).

At 31 December 2003 Group cash balances were 3.3 million and project loans
totalling 60 million had been drawn to help fund the Seven Heads gas
development. A further 8.6 million of project loan was drawn shortly after the
year end. Of the total loans of 68.6 million, 56.6 million is non-recourse,
secured only against Ramco's share of the Seven Heads gas reserves, the balance
of 12 million is secured against our Oil Service business. As previously
announced we are in discussions with our bankers over the possible rescheduling
of these project loans. Our bankers have confirmed that it is not their
intention to withdraw the finance facilities while the technical work and
negotiations are ongoing.

As a result of the uncertainties relating to the outcome of our discussions with
the Group's bankers in respect of the Seven Heads project loans and the outcome
of the appeal in the Tenge case, the auditors' report on the financial
statements for the year ended 31 December 2003 will refer to these
uncertainties.

Ireland

Although the Seven Heads gas field commenced production at levels in excess of
our target, by the end of January 2004 it was apparent that we had encountered
major unforeseen problems. Production continued to fall in a series of stepped
changes resulting in an inability to meet our gas sales nominations and,
consequently, the need for us to provide our gas buyer with substitute gas from
the UK. We immediately commenced a detailed technical review and have kept the
market informed through a series of Stock Exchange announcements.

The latest of these, on 20 May 2004, provided shareholders with an extensive
update, confirming that the field was purposefully being produced below its
maximum potential, at 25 mmscf/d, in order to allow additional data acquisition
to assist the ongoing technical review. The field is still producing at this
rate, which is generating sufficient revenue to cover Ramco's operating and loan
interest costs.

Since project inception in 1999, the investment model, which was the foundation
for our major financial commitment had been reviewed and endorsed by our
in-house team, our partners, third party reservoir engineers, bankers and their
technical advisers and our gas buyer and their technical advisers. However,
field performance has undermined the reservoir model upon which we based our
decision to embark on the development.

As a result of the poorer than expected production, we have commenced
discussions with our bankers to restructure our existing finance arrangements
for the field. We are also in discussions with interested third parties
regarding the funding of any additional expenditure that may be recommended by
the technical review. Additionally we are in a position to enhance the future
potential from the Seven Heads infrastructure through the extensive additional
acreage in the region that is held by Ramco companies. The recently announced
farm-out option over the oil potential which underlies the Seven Heads gas field
is an example of the additional prospectivity in the region.

Montenegro

We remain enthusiastic about the exploration potential in the Adriatic, offshore
Montenegro. Since Hellenic Petroleum completed the acquisition of a majority
stake in our joint venture partner, the former state oil company, Jugopetrol
Kotor, our progress in the region has accelerated. During the fourth quarter of
2003 we acquired 312 sq km of 3D seismic. The data acquired was of high quality
and the interpretation phase has now been completed. The results are
encouraging, generating further optimism about the prospectivity of the area.

The Ulcinj block offers a range of major prospects including shallow Pleistocene
and Pliocene gas and a number of medium to deep very large carbonate oil
prospects. Most of these could be drilled in water depth of no more than 100m.
We are finalising plans for the drilling of an exploration well to test the
shallow gas prospects and are actively seeking a farm-in partner to allow that
work to be completed by early next year.

Oil Services

The results of our Tubular operations were down on 2002, reflecting the slow UK
North Sea market, although this was partially offset by an improved contribution
from Norwegian activity. Pipeline coating activity benefited from a range of new
projects including coating pipe for Algeria, Trinidad and West Africa as well as
the UK. Overall, the Oil Services division demonstrated its ability to remain
profitable even in difficult market conditions.

Looking forward the signs indicate a steady improvement, supported by a three
year extension to our cleaning and logistics contract with Shell and with
activity levels in Japan expected to increase following the renegotiation of
our contract with the JFE Steel Corporation.

Outlook

The unforeseen problems encountered in Ireland have undeniably presented a major
challenge to Ramco's Board and management. Regardless of the many improvements
in technology, the exploration and production business is not an exact science.
The history of exploration within both Seven Heads and neighbouring fields, such
as Marathon's very successful Kinsale field, contributed to our confidence that
we understood the reservoir and thus believed the project's risks to be within
tolerances which could be adequately managed. This has not turned out to be the
case and we have recognised this in the substantial provision against the
carrying value of the Group's investment in this asset.

We are however taking positive action to stabilise our operational and
financial position. The Board and management team remain committed
to the Company and our priority remains to derive the maximum value from Seven
Heads and our other assets. I wish to take this opportunity to thank them for
their dedication, loyalty and steadfastness. This is a team that has created
significant value in the past and I am sure will do so again. Substantial
opportunity remains in the portfolio, which has taken both skill and tenacity
to assemble, and our strategy remains to exploit that potential.

Ramco Energy plc
Preliminary Results

Why the sudden jump today?

Price has been creeping up over the past couple of days but no real indication why. Maybe a rumour of an update regarding the Seven Heads field but could just be a blip. Share price is up 55% over the last five days but that follows on from a big drop to approx 26p. If you are already in on these shares then hold tight and see what develops but if your not I would proceed with caution, ROS shares have a habit of bouncing up and down and you could have to wait a long time before you see another rise in the share (IMHO). If there is good news regarding Seven Heads then I would expect to see a significant move in the share price but don't get your hopes up yet.

if you have been holding ROS since the drop earlier in the year from about the 100p level the sensible thing for the nervous of you out there would have been to have bought in below 30p since you could have bunked out on two occasions since the drop relying on Pound-Cost averaging. IMHO I think the MM are bored this week and are playing with this share - just compare the prices paid for the shares with the BID/OFFER price at the time. There is money to be made by the little guy if he/she exercises caution and uses their good sense. Bonne chance!

Article from the FT regarding recent increase in RAMCO share price.

Recovery speculation aids Ramco shares
By Malini Guha, Michael Neill and Philip Stafford
Published: August 4 2004 04:00

Speculation that a recovery is in progress is growing around oil exploration group Ramco Energy. Investors have been piling into the stock in recent days, sending the shares up 19.8 per cent to 49p yesterday, and bringing gains in the past week to 60 per cent.

At first glance, reasons to be optimistic about the prospects for the troubled company seem thin on the ground. Its share price has plummeted from 400p in January since details of production problems at its Seven Heads gas field in the Celtic Sea came to light.

A miscalculation on its key project led to exceptional items of 93m in its full year results, a hefty charge for a company with a turnover of just 20m in 2003. Ramco is currently undertaking a technical review but analysts said the problems had the potential to threaten the company's survival.
Success in the future depends largely on convincing its bankers of the viability of the project, by rescheduling 68m worth of loans. Analysts have written off the chances of a sustained share price rise until the problems are resolved.

But gains in the past couple of days have been driven by hopes a favourable technical review is imminent, and it will convince the bankers to reschedule the loans.

However, its last market update on June 18 gave no definite date for the delivery of the report and observers warn that until it arrives it is likely to remain a stock traded mainly by retail investors.

Thanks j.

The volatility shown again today is an ideal opportunity to exploit this minnow, whilst the big(ger) players are twiddling their digits. Any further snippets gratefully received.

If you believe the numbers, there were a lot more buys than sells today 77/17/6, but the price dropped 6%. Something is not quite right with these numbers, is this the start of a new rally or the end to this one?

Happy hunting!

Range of Mid-prices quoted today for ROS ranged 56.5p-46.5p. Someone is making money - and lots of it. This rally looks suspiciously like the previous one a few weeks ago. IMHO it will fizzle out to remove the toe-dippers and then find a comfortable level from which to launch if and when the good news arrives - possibly 38-44p range but with a dip to 29-35p first. Lets see. Thanks for reply, always good to know not JUST talking to the dog!

namreh3, I agree with previous comments, a good share to go short on when the price is right, just need to exercise caution on the timing.

I'm a novice with the charts and don't use them a great deal but it will be interesting to see if the price starts to track the upper bollinger band from the middle of next week. I will be on my hols so I will miss out on any further buying opportunities until I get back.

Good luck in the meantime.

Happy hols J. (Don't miss the boat!)

Thanks namreh3, latest news has really hit the share price but nothing new for RAMCO. Investors Chronicle had a couple of articles ref RAMCO which are posted below for anyone interested.

Looks like I will be able to rest easy during my hols.

Articles from IC today:-

Ramco Energy said a technical review of its Seven Heads gas field will be made public after the end of August. Field production is running at around 20.3 million cubic feet a day. The group has written the value of the field down to the level of non-recourse finance associated with it, 56.6m, and does not expect this to increase after the technical review. To cap it all, the group's executive chairman, Steve Remp, is recovering from major surgery.

Second Article in IC.

But for all small oil and gas companies, things can go wrong, as well as right. After years spent unsuccessfully trying to convince the City to come on board, while working up assets in the Celtic Sea, Ramco finally managed to get some heavyweight support from industry analysts at the beginning of this year. One broking house had Ramco as its tip of the year, and investors chronicle was a strong supporter, too. Then, in the spring, just as the company was bringing its Seven Heads gas field into production, things began to go wrong. The pressure readings weren't right, and too much water was creeping into the production pipes. It turned out that Ramco's geological reading of its gas field had been wrong and that, although it is still sitting on substantial gas reserves, the structure containing them is severely fractured. That means that extracting the hoped-for amount of gas looks well nigh impossible, and the survival of the company itself is now in doubt. Broker Seymour Pierce now rates Ramco a sell.

being shorted by EK?

Ramco Energy PLC
10 August 2004

10th August 2004

RAMCO ENERGY PLC
ANNUAL GENERAL MEETING

Ramco Energy plc (Ramco), the Aberdeen based exploration and production company,
held it's Annual General Meeting (AGM) today in Aberdeen with all resolutions
passed unanimously.

Acting Chairman, Peter Everett, confirmed that the ongoing technical review on
the Company's Seven Heads Gas Field in the Celtic Sea was nearing completion but
that summarised findings from the review would not be announced until the end of
August 2004 at the earliest.

In the meantime, the Company is in discussions with third parties who are
interested in participating in its Irish interests, including the Seven Heads
field. Furthermore, there are on-going third party discussions on the possible
farm-out of some of the other exploration projects in the Company's portfolio.

ENQUIRIES:

Ramco Energy - Aberdeen
Steven Bertram Group Financial Director 01224 352 200

Hi namreh3

Looks like the AGM was a bit of a disappointment with very little news coming from it other than a statement that the Company is in discussions with third parties who are interested in participating in its Irish interests, including the Seven Heads field.

From what I can make out there are a number of RUMOURS that Ramco may be going to join up with another oil company to help extract the potential oil reserves in and around Seven Heads. Total and Shell have been mentioned but I have been unable to find any hard evidence to back up these claims other than the above statement which indicates a third party interest but doesnt tell us a great deal.

The fact they are in discussions with third parties over Seven Heads could be seen as good news because it indicates that not all is lost, would you buy into an oil and gas field that was barren?

Until the 7H results are released I think the price is going to hang around its current position but we may see some upward movement as September draws near.

I will keep monitoring the news and rumours and let you know when I hear anything more reliable. Meantime, keep an eye on this one but dont get caught out by any sudden prices rises that may evaporate very quickly, unless you are confident you can sell quicker that the price is falling!!

Good Luck All.

There's been a few good opportunities to take profits on this from lows of 24p. Unfortunately I personaly have been too gready and on 3 occasions thought, here we go, back up to the 1.00 level. Unfortunately not!

wypanb, if it makes you feel any better I have been doing the same and am still hopefull that the price will hit 1.00 but we may have to be patient.

My major concern with Ramco is that things are a bit make or break, if the news is good then 1.00 should be on the cards but any bad news could see us looking at the 10 pence mark.

They are way overstretched on exploration and badly need a partner to share the drill costs at seven heads - the sad reality is that the well is no longer viable - they have not been able to convince the banks so I will be nothing short of shocked if Shell and Total are even remotely interested in this size of a well with very dodgy reserves and costly extraction. This one is unfortunately looking more and more like a lame duck so i would counnsel being very careful - I think that 10 pence or even suspension is not unrealistic - they are far far from certain to make it out of this.

Best option is that one of the smaller local operators buys them out but I just can't see it - they just don't have the assets to be attractive enough. I know that many of us, myself included were banking on better news last time around and it didn't come - the announcement will now slip back into later September - this is a BAD sign - being patient is the right approach if you really feel they can find a partner - I'd say it's a remote hope and steer well clear. I took the loss and bailed out.

As a matter of interest where are you getting these facts?

*Have the banks said no to loan re-finance?

*Are the seven head wells really not viable? I thought they were delibrately choking back these wells to help add info and thus develop their diagnostic report. In the meantime they are indeed buying in gas to fulfill promises.

Just curious.

wypanb

Sorry wypanb, I should clarify on 7H - It is viable - yes, perhaps but the point I meant to make is that it is much less so (with higher extraction costs and much lower reserves) and not so far as ROS are concerned because they cannot (alone) fund extraction and supply - that's why they desparately need a partner. The banks have put a limit on borrowing (see RNS press reports)and the cost of capital in any case would be too much to bear for ROS given their already stretched position and a very weak balance sheet. As to facts - this is partly known information and of course partly educated speculation on my part - one takes a point of view on a stock and it's value and inevitably it's going to be different from others - that's what makes the market such an intersting and dynamic entity! Having followed the oil sector for many years, I'm just in a different place. Anyway, I sincerley hope that I'm wrong and you get to your target with ROS because you and other ROS investors genuinely deserve to be rewarded for your support of this stock.

Well, it's coming soon whether we like it or not. Boomtime or crash, what'll it be?

Ramco Energy PLC
31 August 2004


Press Information

31st August 2004

RAMCO SEVEN HEADS UPDATE

Ramco Energy plc (Ramco), the Aberdeen based exploration and production company,
announces an update for the Seven Heads Gas Field in the Celtic Sea. Ramco Seven
Heads Limited (RSHL), a wholly owned subsidiary of Ramco, is Operator of the gas
field.

The technical review of the gas field has been completed and will shortly be
circulated to partners, banks and the Irish authorities for their review. Ramco
continues to discuss its financing arrangements with its bankers who have
provided an extension to the existing waiver to allow the completion of the
review process and to enable their discussions to be concluded.

The Seven Heads partners are RSHL (Operator) 82.5%, Northern Exploration Limited
(a wholly owned subsidiary of Ramco) 4%, Lundin Ireland Limited 12.5% and
Sunningdale Oils (Ireland) Limited 1.0%.

ENQUIRIES:

Ramco Energy - Aberdeen
Steven Bertram Group Financial Director 01224 352 200

Fleishman-Hillard Saunders - Dublin
Michael Parker 00353 1 618 8450

College Hill - London
Nick Elwes 020 7457 2020

Time to get your crash helmets on lads...

HAS ANYONE GOT SOME INFORMED ADVICE TO GIVE ...I BOUGHT AT 126 AND I AM SHITTING MYSELF

Join the club pall we are all s... ourselves i bought at just under 1.00, but went away on holiday for 2 weeks, and i cant get any news or any thing out of papers, internet, other than a load of crap. Like johargan1 said buy the helmet. it could be a rough ride.

All will be answered this week I hope. Personally I think ROS will make a significant comeback. Another large gas company has bought into 7 heads and the banks have waivered the loan repayments - this is all good news and the management are concentrating on maximising the companies value. I think a multibag is iminent - IMOH !

Here's the latest, positive news, here's hoping Seven Heads imminent news is also in the optimistic vein.


Press Information

12th October 2004

RAMCO ADDS EXPLORATION ACREAGE
OFFSHORE MONTENEGRO

Ramco Energy plc (Ramco), the Aberdeen based independent exploration and
production company, announces that its wholly owned subsidiary Medusa
(Montenegro) Limited (Medusa) has joined Jugopetrol Kotor (JPK) and Hellenic
Petroleum S.A. (Hellenic) of Greece in the Prevlaka exploration blocks 1 and 2
offshore Montenegro.

JPK already holds a 49% interest in these blocks and Hellenic and Medusa have
acquired the interest of Star Petroleum Holdings Limited. The extensive acreage
(4,500 sq km) in the Adriatic Sea lies immediately to the north of the Ulcinj
block 3 where Ramco, JPK and Hellenic have been working together for some time.

In the Prevlaka blocks in which JPK now holds 49%, Hellenic 11% and Medusa 40%,
the companies will shortly commence work on a technical work programme designed
to capitalise on the extensive geological knowledge they have gained from their
recent 3D seismic survey over parts of the Ulcinj block.

The Company is also pleased to confirm the return to work, initially on a
part-time basis, of its Executive Chairman, Steve Remp, who is recovering from
recent surgery.

Dan Stover, Ramco's Chief Operating Officer, said "The Prevlaka acreage adds to
the already exciting oil and gas potential of our Ulcinj block. Ramco looks
forward to working with our partners and the Government of Montenegro in
exploration of the offshore waters of Montenegro."

ENQUIRIES:

Ramco
Steven Bertram - Group Financial Director 01224 352 200

College Hill
Ben Brewerton 020 7457 2020

Fleishman-Hillard Saunders - Dublin
Michael Parker 00353 1 618 8450


This information is provided by RNS
The company news service from the London Stock Exchange

END
MSCMTBMTMMTBBJI

Falling off a cliff any suggestions?

close your eyes!

I suspect many are in the same boat!

Hopefully now the commitment has ended and Ramco now nominate gas volumes the SP will start to steadily rise. Well, that's the theory...............

This Email News Alert service is brought to you by Ramco Energy plc.

RNS Number:3701H
Ramco Energy PLC
14 January 2005


January 14th 2005

RAMCO ANNOUNCES SEVEN HEADS UPDATE AND BULGARIAN FARM-OUT

Ramco Energy plc (Ramco), the Aberdeen based exploration and production company,
announces an update for the Seven Heads gas field in the Celtic Sea and the
completion of a farm-out of a part of its acreage onshore Bulgaria. Ramco Seven
Heads Limited (RSHL), a wholly owned subsidiary of Ramco, is Operator of the
Seven Heads gas field.

The Seven Heads field has been Ramco's priority over much of the past year, but
we have also been actively negotiating a series of farm-out agreements with the
objective of reducing the Group's future capital expenditure requirements whilst
retaining an interest in the exploration upside. During the first half of last
year we announced the farm-out of a part of Ramco's interest in the Seven Heads
oil potential and we have now concluded a farm-out deal over a part of our
onshore interests in Bulgaria.

SEVEN HEADS

Technical Review

A comprehensive technical review of the geophysical, geological and recent
production data from the Seven Heads gas field has been completed and assessed
by the Seven Heads partners, RSHL's Bankers and the Petroleum Affairs Division
of the Irish Government.

The key finding of the study is the Seven Heads reservoir is significantly more
compartmentalised than had been anticipated and the production wells are
connected to a smaller volume of gas bearing rock than had been expected.
Consequently each well is draining a significantly smaller reservoir area than
originally interpreted. It is believed this is a result of the presence of more
severe faulting and stratigraphic compartmentalisation than was apparent prior
to development.

The original interpretation of the Seven Heads field was of a single gas
accumulation in a structure completely filled to the "spill point". It was
recognised there were highly permeable, good quality sands, and additional gas
was present in lower permeability sands. This pre-development interpretation was
supported by seismic maps, well logs, well tests, cores and pressure data
obtained from six exploration and appraisal wells and was endorsed by several
independent reservoir engineering companies.

New pressure data, collected during the development drilling programme and
production phase, has illustrated subtle pressure differences between some of
the sands. This demonstrates the sands are isolated from one another. Analysis
of production data confirms some of the gas in the lower permeability sands is
being produced, but at rates significantly lower than anticipated by even our
most cautious predictions. The technical review has concluded the water
accumulation experienced in some of the well bores is the result of condensation
of water vapour naturally contained in the gas. This only occurs because the gas
is being produced at a much lower rate and pressure than had been expected, due
to the greater compartmentalisation. The water build up is being controlled by
shutting in each well and allowing a pressure build up before reopening the well
to unload the water.

The technical review has identified a number of sands in two of the existing
wells which appear to contain gas and which are currently not open to the wells.
We are therefore assessing the possibility of opening these sands for production
by adding new perforations in these wells during 2005. The precise timing and
the economic viability of such work depends on the availability of a suitable
vessel. Options, including the use of a drilling rig or a dynamically positioned
well intervention vessel, are currently being evaluated and discussed with
partners. The earliest the work could be undertaken is May 2005.

The technical review has also indicated it is likely substantial additional gas
may be present elsewhere in the field. However, this would require to be
substantiated through acquisition of 3D seismic, which would also be critical to
ensuring the optimal placement for drilling new wells.

Current Production and Gas Sales

Since the field first failed to produce sufficient gas to meet RSHL's
obligations under its Gas Sales Agreement (GSA), RSHL has been suffering the
additional cost burden of importing the shortfall quantities of gas from
Scotland. This situation ended at the start of the new gas sales year on 1st
October 2004. At that point our contractual commitments under our GSA with RWE
Ireland Limited (RWE) changed and we are now nominating sales volumes that match
field deliverability. The commercial arrangements necessary to enable us to sell
the additional volumes of gas that we anticipate following the completion of the
perforations during the current gas sales year are in place.

A further improvement in the commercial situation has been achieved through
profiling the field's gas production. In order to maximise gas sales revenue,
the production profile of the field is being managed to maximise production
during the winter months when gas prices are normally highest. Currently the
field is producing 12 mmscf/d and forecasts indicate that without the
perforation programme, the likely volume of production in the current gas sales
year will be approximately 2 bcf.

Reserves

As stated above, the technical report indicates the field is significantly more
compartmentalised than originally anticipated and this obviously has a material
impact on the field's recoverable reserves. It is currently Ramco's view that
approximately 19 bcf is recoverable from the existing wells in addition to the 9
bcf produced to-date. If additional wells are successfully drilled and produced
then the recoverable reserves figure could rise to approximately 83 bcf. Whilst
extremely disappointing, these figures are within the range of downside
possibilities identified in the original Plan of Development.

Ramco effectively wrote off its interest in the field when it made a substantial
impairment provision in its 2003 accounts, the outcome of the technical review
confirms that to be the appropriate treatment.

Banking

RSHL's bankers have temporarily waived certain rights under the banking
agreements in order to allow RSHL to progress detailed negotiations with a
number of third parties interested in providing the additional investment
necessary to undertake both the perforation programme and 3D seismic survey
work. A separate announcement will be made once these arrangements are
finalised.

BULGARIA

Ramco also announces that its wholly owned subsidiary, Ramco Bulgaria Limited
(RBL) and its partner Anschutz Bulgaria Limited (Anschutz) have agreed a
farm-out with Chimimport JSC over their A-Lovech acreage onshore Bulgaria.

The A-Lovech block lies approximately 80 km to the north east of Sofia and
covers 3,558 sq km. RBL (20%) and Anschutz (80%) have been working together on
the acreage over the past three years and have agreed that Chimimport, a
Bulgarian company with a subsidiary specialising in seismic acquisition, will
join them for the next phase of exploration. Chimimport will earn a 45% interest
in the acreage by completing 570 sq km of 3D seismic. Once completed, the
farm-out will result in the group's interests being Chimimport 45%, Anschutz 44%
and RBL 11%.

The seismic acquisition programme will be aimed at multiple geological targets
and is likely to be carried out between July and November 2005.

OTHER FARM-OUTS

Ramco is also at an advanced stage of negotiations of other farm-out agreements
over its exploration acreage. Further announcements will follow if these
negotiations are concluded successfully.

ENQUIRIES:

Ramco Energy - Aberdeen
Steven Bertram Group Financial Director 01224 352 200

College Hill - London
Nick Elwes 020 7457 2020

Fleishman-Hillard Saunders - Dublin
Michael Parker 00353 1 618 8450

Notes

The Seven Heads partners are RSHL (Operator) 82.5%, Northern Exploration Limited
(a wholly owned subsidiary of Ramco) 4%, Lundin Ireland Limited 12.5% (sale to
Island Oil & Gas pending) and Sunningdale Oils (Ireland) Limited 1.0%.




This information is provided by RNS
The company news service from the London Stock Exchange

END
DRLILFLTLAIVLIE

Looking better today chaps. Onwards and upwards.

The blue touch paper has well and truely been lit!!!

As you say the blue touch paper has been lit but how high will the rocket go before it runs out of gas?

Don't be too hopeful of a return to 1 just yet!

I think it will stall at 45p, hopefully it will chug on to 50p. Perhaps a month or two consolidation at that proce until the next press release?

Agreed. SP has come a long way in 2 days. Will come off slightly and consolidate 32-38p range before (hopefully) steady climb north. Solid +ve news needed before genuine non-out-and-out speculation returns. Digits crossed.
Nam

That is what I call +ve news. Up and away!
Nam

Whats the thoughts on the take over price if their is a take over and who is it

Mojo really depends on when you bought in. If you are 100p plus then methinks you may be disappointed and I should make the best of things. If you were buying down to 24-26p then the 100% return on that probably means you should take profits now. No idea as to suitor. Time will tell. Perhaps its all hot air.
Nam.

It hurts me to say but i bought in at 97p 10.000.000 of the b..... things but i have writen them off to my stupidity.so like you say time will tell

"Oil & Gas Exploration & Production EAD-Pleven (EPIC GAZ on the bulgarian stock exchange) - are the company interested in buying out Ramco - so say the rumours that are going round at the moment",

From jellyjerks on iii

Thanks SWW
Nam

A bit quick with the 0 10.000

Mojo
Yes, I was really concerned about your judgement there for a moment. Still, 10k@97p when you saw it plunge to low 20's must have been rather sickening.(Cliche falling knife etc). Keep the faith. Good luck.
Nam

Yes i bought mid march 04 went on holiday to America for three weeks at the end of march and the rest is history but as they say shares go down as well as up now befor i go on holiday i tend to sell what i have

Mojo
At least it will be a substantial uplift from the trough. Have a good time on hols.
Nam

Edited out.

Hi Nam that was last year i wen to america and the Ar.. fell out of ramco but thanks for your thoughts anyway not going away untill later on this year

Thanks again SWW
Mojo misunderstood post 87. (Putative Alzheimer's/vCJD candidate that I am).SWW post above does not bode well. Refusing to open books v.bad.
Nam

If that is true, I did say not validated.

In fact I am going to remove it as it may not be helpful at all.

After that I have to give up the keys again today.

Bah.

SWW - understood. English is my first language. :>)
Nam

Yep I know nam, I just feel that post may be a red herring.

SWW Appreciated.
Nam

Ramco bidders get legal warning
Robert Ballantyne


RAMCO ENERGY, the Aberdeen-based oil explorer headed by Steve Remp, has been warned by the Texas-based Anglo-Dutch that it intends to pursue its claim for $16m damages and costs awarded in an American legal case, and that any buyer for Ramco should be aware of the claim.
The warning followed Ramcos announcement to the stock market that it had received an approach and talks were continuing that could lead to an offer for the whole company. Ramcos shares which had fallen from highs of 400p last year after drilling problems in its offshore Irish gas fields doubled to 56p during the week before closing at 47p on Friday.

Analysts are sceptical about the mystery bidder and question why the share price should rise when it was more likely that any offer would be at a discount. Confirmation that the Texans will pursue their legal claim is likely to further damage the share price.

The legal action dates from 2003, when Ramco and its partner Halliburton were found to be in breach of confidentiality contracts.
http://www.timesonline.co.uk/article/0,,2095-1502195,00.html

Today's results went down well!

I particularly liked the pick up around 4pm. The offer price rising to 41p suggests shortage of stock IMO.

I'm hoping for a liitle more upward improvement tomorrow.

Nice to be back where I started with this one!


Fly by Night

Red

I am about where i started from now. Any thoughts on how far it will go ?Should i break even and run or go for the ride I thought that the money was gone so not to bothered, But its nice to see it move up Anyway whats your thoughts

the trend is upwardly mobile from now on. looking for 1.00p by year end and from there on who knows depending on the succesful sale of 7 heads and further drilling in good old monte.

Stick with it .... our time has come !!!

Thanks for that Well we have waited long enough and you know what the old saying is Everything comes to thoe's who wait and we have waited Take care

Van, just does not feel the same over here without your famous chicks in the header. Please have a word with the owner and get them to brighten the place up a bit!!!!!

S515

lol ..... we can't go around spreading debauchery on every thread we frequent ........... can we ???

I'll have a word :-)

Anyway ....... onwards and upwards ..... only a 0.5p drop today is excellent news especially on the back of such a steep rise yesterday. However ... still waiting for the traditional tree shaker at some point. Y'know they are aching to do it, but very risky at the moment with the market boys still short from yesterdays trades.

It seems to have gone quiet on this thread - anyone still in and
how do they see things now?

Expect very exciting news here within two weeks !

Give us clue

http://www.britishbulls.com/StockPage.asp?CompanyTicker=ROS&MarketTicker=RESOURCES&Typ=S

market makers are simply ruthless at present, forget trade data
because if they want a stock down in price then they all work
together to mark it down, it looks like Ramco will issue at anytime
the sale of their troubled seven head division and this will be very
good news so for me the market makers are just trying shake after
shake to try and get stock, 225k buys against 75k sells and a 1.75p
drop in the share price, about right in this dire penny share market.

this will go up 100% minimum before the years end....once the mms hear news that the 60m debt has been eliminated through the sale of 7h.( a very shrewd piece of negotiating)..it`s a no brainer....I`m amazed that the world and his wife is not buying this share....a dead cert.....even the banks who are owed the cash think so...they now have a 1m share hedge in the form of warrants at 34p...

It's like a lot of penny shares these days, in the hands of the
market makers who want to manipulate the price in the direction
they want, i agree with you power station, those who can hold
will get a nice reward, might be tomorrow, might be in a few months
when they announce the price they receive for the sale of seven heads.
The smart money is buying, 200k buy today out of the 325k total volume
and the price drops 1.75p, they wont be able to do this forever.

Buy and hold the stock, you will get rewarded.

ref machem...under the bank waiver agreement,7h along with ROSL (the oil service business) MUST be sold before 31st of DEC `05...(that`s about 11 weeks away)..S.Remp has said that they are down to one preffered bidder....it`s in the bag.

Thanks power station.

So it's a case of waiting then, no signs of games yet with the
mm's today but it's so quiet so i will be surprised if they try and
move it unless somebody buys a decent chunk.

it`s 21k buys vs 7k sells....and still they won`t move the price.

Share that between 5 mm's and it's nothing at all volume
wise, if Wins are in the mood they can push it by going
30p bid but they are not playing so far today.

Looks like the next ploy is too widen the spread to kill
the buying, remember 2 mm's have short positions, they
have sold a lot of stock at 32p and higher and not had
enough selling to get it back but have yet to give in and
raise their bids to get stock, this stock is ready soon for
a good day, any support should get it moving but "any support"
is hard to come by in this very poor small cap market.

I think we`ll get a nice christmas bonus from ROS

Buyout team set to clinch 15m Ramco deal

IAIN DEY
CITY EDITOR


RAMCO will sell its oil services business to a management buyout team within the next two weeks in a 15m deal that will bring the curtain down on the company's long-running financial problems.

The buyout team, led by Stewart Cumming, the division's managing director, is in the final stages of negotiations with the company, having edged ahead of an unknown trade buyer.


Once the management buyout is completed, Aberdeen-based Ramco will press ahead with the sale of the Seven Heads gas field in the Celtic Sea - the project which brought the company to the brink of administration after production levels fell far short of projections.

US oil giant Marathon, which operates the neighbouring field, is understood to be in exclusive talks with Ramco regarding the troubled project.

A further restructuring is then planned that will see an overhaul of the remaining exploration business - which has interests in Bulgaria, Montenegro and other Irish projects.

One industry source said: "The whole thing is edging slowly and surely towards conclusion. The sale of the service business should come through within the next couple of weeks, and Seven Heads after that."

Ramco, led by chairman Steve Remp and managing director Steven Bertram, was forced into what was effectively a fire sale of its assets following the production problems on Seven Heads and the collapse of a subsequent takeover offer.

The Seven Heads project attracted a lot of attention in the City in late 2003, causing a sharp spike in Ramco's share price. But the field's geology proved more complicated than Ramco had bargained for, placing the financing in jeopardy.

The Seven Heads project was backed by a near 70m loan facility from Bank of Scotland. Although most of the debt was secured against production from the field itself, 12m was borrowed against the service company.

Ramco announced over the summer that Ernst & Young had been appointed to find a solution to the long-term financing issues. The firm has subsequently confirmed that both the services business and Seven Heads are up for sale.

Once the firm's problems became apparent, a number of its non-executives - including former Scottish Secretary Sir Malcolm Rifkind - resigned from the board.

The MBO of the services business is understood to be backed by a Scottish-based private finance vehicle. David Murray's Charlotte Ventures, Tom Hunter's West Coast Capital and John Boyle's Hamilton Portfolio are among those rumoured to have looked at the deal. The 15m price tag is said to have been too small for traditional venture capital companies such as 3i.

Marathon is believed to have been in exclusive talks with Ramco on Seven Heads since the summer, but the service business has to be sold first for tax reasons.

Once the two deals are complete, Ramco will restructure its remaining business. It is understood that the listed firm will become a holding company, with each of its exploration prospects operated as subsidiaries.

The structure would be a first for the oil industry and is believed to be a plan to help encourage outside investors to plough money into the business.

Investors who did not have faith in all of Ramco's exploration prospects could pick and choose which fields they wanted to invest in.

Oil analysts believe Ramco's remaining exploration portfolio has potential.

The only further threat to Ramco is a legal challenge in the US over an alleged breach of contract.

Ramco is currently appealing against the court judgment, which ordered it to pay $6.4m (3.7m).


Delivery

CHRISTMAS HAS COME EARLY THIS YEAR...THANK YOU SANTA RAMCO.

What great news, it was always a matter of when the deal would
be done not if and i bought some at 24.5p mid price on Friday when they
shook it on a couple of sells so a big slice of luck there to get back
in before this news but you need luck in the penny share market thesedays.

Anyone here care to explain the maths for ROS?
From what I read (post 118) it is valued at 15m and has a possible risk of having to pay out on a 3.7m court judgement.
So with 33.14m shares, shouldn't the SP be either 34p (taking into account the court order) or 45.25p based on market cap of 15m?
TIA Lynnzal

ros sold it`s serevice side for 14.1m today...we`re moving forward..