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

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