bought some ROS Thursday only because they were cheap, any one got any thoughts on them

The following article in the highly respected Energy Press and Journal will give you an idea what MPC are upto. The article was published in December 06 - showing Ramco and Midmar (aka MPC) have been active in Iraq for a while - but kept a low profile unlike other companies that have been shouting about it for yonks.

http://mag1.olivesoftware.com/am/welcome/ENRM/Energy-12-2006.asp

(Page 2)


Remp and Redman team up for bold Iraq adventure

TWO well known upstream entrepreneurs, Steve Remp of Ramco and veteran driller Peter Redman of Midmar, have teamed up for a pioneering odyssey in Iraq through newly created Mesopotamia Petroleum Development, writes Jeremy Cresswell.

If they realise their dream of producing oil & gas in the wartorn Middle East state, then this pilot could open the door to the huge energy capability resident in Scotland to participate in the re covery of Iraq’s hug e petroleum industry.

Energy was given exclusive access to a delegation of senior officials from Iraq’s energy ministry when they visited Ramco in Aberdeen, week beginning November 20 and prior to meeting with Redman, also companies such as Abbot Group unit KCA Deutag and seismic specialist Veritas.

We were told of a desperate shortage of all key oilfield goods and services, with a particular need to restart a drilling programme – especially deep wells and horizontal/high-angle wells. Another vital need is a thorough mapping of Iraq’s vast resources, a process that was started but never completed. And it’s not just basic 2D, but 3D, too.

It was clear from the conversation that the Iraqis want to engage with companies perceived as politically non-threatening. They had obviously had their fill of the majors, though the US-led carve-up of the state’s resources may frustrate their ambition to be highly selective.

But why are Remp and Redman setting out on such a tough adventure at this time?

Remp’s answer was simple: “Because it’s there and because no one else has yet been able to crack it.

“Peter and I do fully understand the context; we have our eyes open. There’s no question that, at some point, the situation will ease and Iraq will once again become a major producer. The potential is beyond anything that most people can understand. We’ve already made a remarkable amount of progress and the Iraqis seem to hold us in high regard.

“With support from the British Government, we have entered a dialogue with the oil minister in Baghdad and we have just hosted a senior delegation that came exclusively to meet Mesopotamia in order to evaluate whether we might be a company of choice for them in the future.

“It was a very productive week. We focused on sharing with them the many new upstream technologies that have been developed over the last five to 10 years.

“Importantly, these guys have not had contact with Western companies and technologies since the Gulf War, so this was a major breakthrough for them to learn what is going on and what might become relevant in due course.

“Notwithstanding the dire political situation, we’re engaged with the ministry (in Baghdad) in trying to identify a pilot project … a multi-fields development contract that would allow Mesopotamia an early start.”

A number of candidate fields have been identified and talks have started.

Mesopotamia Petroleum Development reflects an aspect of Iraq’s ancient history. Partners in the company are Remp, Red man and Robert Abel-Smith, a Brit who has engaged with Iraq over many years.

In many ways, Remp and Redman are ideal for the task. They have worked together in the past and are driven adventurers.

Remp has a place in the history of the Great Caspian Oil Game as he pioneered the return of Western companies to the region during the post-Soviet era, which was a deeply uncertain time in local political terms. He also carved out a position in Adriatic state Montenegro during a time of war.

After Ramco’s difficult Irish venture with the disappointing Seven Heads project and a protracted, but ultimately successful, battle in the US courts over an alleged breach of contract, Remp has returned to what he is regarded as best at – trailblazing.

“We’ve gone back to our roots,” he said.

Charles great post. buy in while you can

Buy in now Ready For Take off 24p - 44p in two weeks

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