Ramco Reports Successful Conclusion of Texas Litigation
Ramco Energy plc announced a final favorable decision in the 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 the plaintiffs’ first request for a review of the appeal was denied by the 14th Texas Court of Appeals.
In January 2007, the plaintiffs petitioned the Texas Supreme Court to review the decision of the Court of Appeals. That motion was denied by the Court on March 2, 2007, with the Supreme Court determining that the plaintiffs’ petition did not present any error that required reversal. The plaintiffs then asked the court to re-hear their petition without introducing any fresh material.
On April 20, 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 last June we have been frustrated in our efforts to move Ramco forward by the plaintiffs’ vain attempts to protract this litigation indefinitely. I am delighted that the Texas Courts have now brought this to an end and now look forward to making faster progress with our turnaround plans."
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