Sale of gas interests to close next year

THE sale of Ramco Energy’s interests in the Seven Heads gas field off the coast of Kinsale will not be completed until next year, the troubled company said yesterday.

Ramco told the London stock exchange it had completed the sale of its oil services division to management for £14 million (€20m), but attempts to sell its Seven Heads interests were ongoing.

“It is now expected that this transaction will not close until next year,” the company said. Shares were unchanged on the news.