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.