RNS Number : 7094Z
Ramco Energy PLC
23 July 2008
Ramco Energy plc
Re Press comment
Ramco Energy plc ("Ramco") notes the recent share price movements and articles in the
media surrounding its associate company
Mesopotamia Petroleum Company Limited ("MPC"), in which Ramco holds a 32.66% interest,
concerning the establishment of a joint venture with
the Government-owned Iraqi Drilling Company ("IDC").
Ramco confirms that MPC has been in talks concerning the establishment of a joint venture
to provide oil services with IDC, under a
mandate from the Iraq Ministry of Oil, for some considerable time and these have reached an
advanced stage. MPC is pleased to see such
positive reported comments from the Iraqi Minister of Oil, H.E Hussein Al-Shahristani.However, the establishment of the joint venture is
still being finalised and requires ratification. A further announcement will be made in due
course.
Steve Remp, Chairman of Ramco commented:
"As Chairman of MPC I am delighted that we have made such substantial progress during our
recent meetings in Istanbul. This services
joint venture is designed to accelerate Iraq's own efforts to boost its production in the near
term. We look forward to early ratification
so that we can get on with the task at hand."
23 July 2008
ENQUIRIES:
Ramco Energy plc
Steven Bertram Managing Director 01224 748480
John East & Partners Limited
David Worlidge 020 7628 2200
College Hill
Nick Elwes 020 7457 2020
This information is provided by RNS
The company news service from the London Stock Exchange
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