from memory, this is quite a godd littel company, but with cap of only 34m and EMS of only 5000 shares, its illiquidity makes it dangerously unpredictable

Switched into ROs this morning @ 82p (sold TAN).
Already ROS is going in the right direction... it's looking good for pos+ news soon
Onwards & upwards!

does anyone know what happened with this?

Yes, & it's pretty, or funny ! not one of my best investment decisions..should've exercised a stop loss. oh well !
Will stay in as there's lots of other things ROS has going on and the Iraq thing may be rectified some..?

Here's what it was all about.....
Ramco Energy has updated on the state of play on their joint venture with the state-owned Iraqi Drilling Company (IDC).

The joint venture company, Iraqi Oil Services Company (IOSCO), is structured through Ramco's associate company Mesopotamia Petroleum Company (MPC).

One of the terms of the joint venture was for MPC to confirm funding of US$44.1m to meet the initial capital commitments by a certain date.

The deadline for confirming the funding has now passed and IDC has given notice to MPC on 7 July 2009 terminating the JV agreement.

Steve Remp, Chairman of Ramco, said: 'While IDC's decision to invoke the strict terms of the JV is frustrating, it is consistent with the approach we have seen in dealing with governmental bodies in Iraq.

We believe were are making good progress in fulfilling the initial investment requirements and together with MPC's advisers (including JP Morgan Cazenove) remain in contact with the Iraqi Government regardin progress on funding for this historic JV.'

sp still dropping...now 40p...I'm not going to panic (not yet anyway!)

Now it's the time to top-up, skyhigh.

Well I got bored and moved on but I've bought a few back today--it has certainly woken everyone up! I tend to agree that this is typical iraqi shenanigans designed to make everyone get a move on. It is said that GB, Miliband and JP Morgan were falling asleep on the job and the payup or shut up letter from the IDC came as a surprise to even the Iraqi oil minister. mpc and Remp are furious as normally these last ditch manoeuvres go on privately--this letter has forced ROS to issue a rns and the value of Steven Remp's personal holding dropped by 1.8 million!!! long term holders believe this will quickly be sorted and the sp will bounce back accordingly---I thought it was worth a gamble!! not for widows etc DYOR!

Anyone care to update on this one....is it still worth a punt long term?

it's grim...but worth staying in for the time being..imho

is that uk? lol