PRESS RELEASE

20 NOVEMBER 2008

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

Exercise of warrants

Ramco Energy plc (“Ramco” or the “Company”), the Aberdeen-based energy investment company, announces that, following the exercise of 5,000,000 warrants by LC Capital Master Fund, Ltd (“LC”), it has allotted and issued, conditional upon admission to the AIM market, 5,000,000 new ordinary shares (“New Ordinary Shares”) of 10p each.

The exercise of the warrants, which were granted in June 2007 at a price of 14p per share, results in the Company receiving £700,000 as proceeds of the exercise.

Following the issue of the New Ordinary Shares, LC’s holding in the Company will be 6,702,380 Ordinary Shares, representing 14.5 per cent. of the enlarged issued share capital of the Company. Steven Lampe, a Non-Executive Director of the Company, is managing member of Lampe, Conway & Co LLC, the investment manager of LC, and as result has a non-beneficial interest in the LC shareholding in the Company.

Application will be made for the New Ordinary Shares to be admitted to AIM and dealings are expected to commence on 26th November 2008.

Following the issue of the New Ordinary Shares, the total number of issued ordinary shares in the Company will be 46,109,279.

FURTHER ENQUIRIES:

Ramco Energy plc - Aberdeen    Tel: 01224 748480
Chris Moar, Finance Director

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

College Hill   Tel: 020 7457 2200
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