RNS Number:5621M
Ramco Energy PLC
20 June 2003


20 June 2003


RAMCO ANNOUNCE SEVEN HEADS DRILLING UPDATE


Ramco Energy plc, the Aberdeen based exploration and production company and
Operator of the Seven Heads gas development in the Celtic Sea, announces that
the Seven Heads partners have successfully completed the drilling and testing of
well 48/24-7A. This is the second production well completed this year, part of a
six well programme which will see the field in production before the end of the
year.


The well was drilled to a depth of 3626 ft by the semi-submersible rig Sedco
704. The well tested gas at a maximum rate of 23.7 mmscfd. For comparison with
previous tests, Ramco has normalised this data to a constant well head pressure
of 565 psia. On this basis the present well can deliver 16.7 mmscfd. For
comparison, well 48/24-5A produced 13.9 mmscfd and well 48/24-6 produced 34.3
mmscfd. All of these rates are above the 10 mmscfd assumed in our base
production forecast for the field. Upon completion of this test, the Sedco 704
will relocate within the field and will commence the drilling of well 48/24-9.
Its sister rig the Sedco 711 is currently drilling well 48/24-8. Following this,
one further well and the re-completion of the 2001 appraisal well 48/24-5A are
scheduled to be completed by the end of August.


All 25.5 km of 8" infield pipelines which will connect the wells to a central
field manifold have been laid on the sea bed and trenched, as has the 35 km of
18" main pipeline back to Marathon's Kinsale A platform. The control umbilical
lay has begun and the manifold is due to be installed later this month. The
construction work necessary to connect the Seven Heads gas pipeline to the
Marathon Kinsale A platform is well under-way.


The field remains on schedule for first gas production during the fourth quarter
of the year. Proved and probable reserves were independently assessed before
this year's drilling programme began at 300 bcf, this figure will be reviewed
once the drilling programme has been completed. Ramco has agreed to sell its
share of the field's gas production to Innogy Ireland Limited.


The Seven Heads partners are Ramco (Operator) 86.5%, Island Petroleum
Developments Limited 12.5% and Sunningdale Oils (Ireland) Limited 1.0%.


ENQUIRIES:


Ramco Energy - Aberdeen

Steven Bertram Group Financial Director            01224 352 200


Fleishman-Hillard Saunders - Dublin

Michael Parker                                                 00353 1 618 8450



College Hill - London

Phil Wilson-Brown                                            020 7457 2020






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