PRESS RELEASE

03 DECEMBER 2007

RAMCO ENERGY PLC
(“Ramco” or the “Company”)

Ramco issues 1,870,000 new shares at 22.2p per share to Directors

Ramco, the Aberdeen based independent exploration company, announces that it has issued 1,870,000 new ordinary shares at a price of 22.2p per share, in satisfaction of deferred remuneration due to Executive Directors as disclosed in the 2007 interim statement, released on 20 September 2007.

During 2005 and 2006 Steve Remp (Executive Chairman) and Steven Bertram (Managing Director) voluntarily waived contractual salary and pension entitlements totalling £357,000. In addition, they and Chris Moar (Finance Director) (“the Executive Directors”) deferred further remuneration, totalling £630,920, over the 30 months to 30 June 2007.

No security was given by the Company for, and no interest was charged on, the deferred amounts. The Directors concerned agreed to use the net sums due to them, after deduction of pension entitlements, income tax and national insurance, to subscribe for new shares in the Company as soon as they were entitled to deal in the Company’s shares.

Following yesterday’s announcement by Ramco subsidiary Lansdowne Oil & Gas plc of its proposed acquisition of Milesian Oil & Gas Limited the directors are again entitled to deal in the shares of the Company.

The net sum due to the Executive Directors, after deducting pension entitlement, income tax and national insurance, is £349,400.  In addition, Mr Remp’s pension fund has agreed that the £65,740 contribution which had been deferred can be satisfied by the issue of new shares. Accordingly, the total net deferred remuneration and pension contribution, which amounts to £415,140, has been satisfied by the issue of 1,870,000 new shares, which were issued at a price of 22.2p, a premium of 20 per cent. over the closing mid-market price of 18.5p for a Ramco share on 29 November 2007. These shares were issued as to 1,381,600, 450,600 and 37,800 to Steve Remp, Steven Bertram and Chris Moar, respectively.  Steve Remp has notified the Company that he has gifted 250,000 of the above shares received by him, although he remains beneficially interested in 100,000 of the gifted shares.

The Executive Directors have also, with effect from 1 July 2007, agreed new service contracts with the Company reducing their annual remuneration. The aggregate annual cost savings, including associated employer’s national insurance contributions amount to £387,000.

Following the issue of the above shares and reflecting the gifted shares, the beneficial interests of the Executive Directors will be as follows:

* Of these, 1,322,102 shares are held by Steve Remp's pension fund.

An application will be made to London Stock Exchange for the shares to be admitted to trading on the AIM market and it is expected that trading will commence on 7 December 2007. Following the above share issue, there will be 36,887,815 ordinary shares of 10p each in Ramco in issue.

ENQUIRIES:

Ramco Energy - Aberdeen    Tel: 01224 748480
Steven Bertram, Managing Director

John East & Partners Limited   Tel: 020 7628 2200
David Worlidge

College Hill - London    Tel: 020 7457 2020
Nick Elwes

Ramco Energy plc
Britannia House
Endeavour Drive
Arnhall Business Park
Westhill
Aberdeenshire
AB32 6UF
United Kingdom
Tel: +44 (0)1224 748480
Fax: +44 (0)1224 748481