23rd Apr 2007 08:32
Ramco Energy PLC23 April 2007 Ramco Energy plc CONCLUSION OF LITIGATION Ramco Energy plc ("Ramco") is pleased to announce a final favourable decision inthe long-running Tenge lawsuit in Texas at the level of Texas' highest court. Ramco won the appeal in this case in June 2006 and in October 2006 theplaintiffs' first request for a review of the appeal was denied by the 14thTexas Court of Appeals. In January 2007, the plaintiffs petitioned the Texas Supreme Court to review thedecision of the Court of Appeals. That motion was denied by the Court on 2March 2007, with the Supreme Court determining that the plaintiffs' petition didnot present any error which required reversal. The plaintiffs then asked thecourt to re-hear their petition without introducing any fresh material. On Friday 20 April, 2007 the Texas Supreme Court denied the plaintiffs'rehearing request bringing this long running lawsuit to a conclusion. Steve Remp, Chairman of Ramco, said: "Since winning the Appeal in this case lastJune we have been frustrated in our efforts to move Ramco forward by theplaintiffs' vain attempts to protract this litigation indefinitely. I amdelighted that the Texas Courts have now brought this to an end and now lookforward to making faster progress with our turnaround plans." 23rd April 2007 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 ExchangeRelated Shares:
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