Statement re Licensing Option

RNS Number:4321K
Ramco Energy PLC
28 April 2003


28 April 2003


RAMCO GRANTED NEW LICENSING OPTION IN SEVEN HEADS AREA



Ramco Energy plc announces that Ramco Oil and Gas Limited, its wholly owned
subsidiary, has been granted a Licensing Option over parts of Blocks 49/11 and
49/12 in its core North Celtic Sea area offshore Ireland. Ramco has a 100%
interest in the Licensing Option, which is valid until 31st July 2004.


Ramco has named the option area "Midleton". The Option acreage lies
approximately 60 kms north east of the Ramco operated Seven Heads Gas Field,
currently under development. As at Seven Heads, average water depth over the
acreage is around 100m.


The geological target in this area is the Greensand ('A' sand) which has
produced most of the gas from the Kinsale Head field - some 35km to the south.


During the Option period Ramco will utilise the same seismic reprocessing
technology that it has successfully applied to its Seven Heads field, greatly
reducing the seismic multiples caused by the hard chalk sea bed in the region.
This, and other technical studies, will be used to evaluate several leads
already identified in the Option area.


Should the results prove encouraging Ramco would apply to the Petroleum Affairs
Division to convert the Option into an Exploration Licence. Even a modest
discovery in this area should prove commercial, given the proximity to existing
infrastructure.


Steve Boldy Ramco's recently appointed VP Ireland said


"The award of this Licensing Option is part of our strategy of building on the
subsurface understanding gained from the Seven Heads field to identify and
develop other prospects in the area.  The Midleton acreage, together with our
interest in Galley Head, which lies due north of Seven Heads, provides us with
good upside potential to our existing proved and probable Seven Heads reserves."


ENQUIRIES:


Ramco

Ian Phillips, VP Project Development     01224 352 200

Steve Boldy, VP Ireland                  00353 1 637 3934


College Hill

Phil Wilson-Brown                        020 7457 2020










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