News: Deals: Reports

Eagle HC Ltd & Ramco Energy PLC	Update Date: 05/14/08
Date Announced: 05/14/08
Value (million $USD): 4.4 million U.S. Dollar 2.3 million British Pound

Status: Completed

TRANSACTION DETAILS
Date Announced	05/14/08
Date Originally Announced	05/14/08
Format	Acq. of Assets	Acquisition techniques	Not Applicable
Attitude	Friendly	Agency	n/a
Value	4.4 million U.S. Dollar 2.3 million British Pound	Advisor Fees	n/a

SYNOPSIS

UK - Ramco Energy PLC (RE) acquired Eagle HC Ltd, a Cranbrook-based oil and gas exploration and production company, for 2.25 mil British pounds ($4.377 mil US). The consideration consisted of 2 mil pounds ($3.89 mil) in profit-related payments and the issuance of 0.943 mil RE new ordinary shares valued at 0.25 mil pounds ($0.486 mil). The shares were valued based on RE's closing stock price of 0.265 pounds ($0.516) on May 13, the last full trading prior to the announcement.

TARGET
Name	Eagle HC Ltd
Industries	Drilling oil and gas wells; Oil and gas field exploration services
City	Kent
State	n/a
Nation	United Kingdom
Incorporated in	n/a
Public Status	Private
Business Description	Eagle HC Ltd is an oil and gas exploration and production company headquartered in Cranbrook, Kent, UK. The company owns royalty interests in nine North Sea licenses covering 14 blocks.
Advisors	NULL
Target Sales	n/a

ACQUIROR
Name	Ramco Energy PLC (London AIM : CS)
Industries	Drilling oil and gas wells; Oil and gas field exploration services
City	Westhill, Aberdeenshire
State	n/a
Nation	United Kingdom
Incorporated in	n/a
Public Status	Public
Business Description	Ramco Energy PLC, based in Westhill, Aberdeenshire, UK, is an oil and gas exploration and production company. The Group is currently exploring for, and appraising, oil and gas reserves in Ireland and eastern Europe and is evaluating emerging exploration and oil services opportunities in Iraq. The company was founded in 1977.
Advisors	NULL
Acquiror Sales	n/a

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