Ramoil Management, Ltd. (OTC: RAMO) Groupe Concorde Developments, Inc. Signs Irrevocable LOI on Romania ALF

FORT LAUDERDALE, Fla., May 25, 2011 /PRNewswire/ -- GROUPE CONCORDE DEVELOPMENTS, INC. (GCD) (OTC: RAMO) announces that earlier today in Romania the Irrevocable Letter of Intent (LOI) was signed between Groupe Concorde Developments, Inc. and the Romanian Government, regarding the Green Assisted Living Facility (ALF) in Romania.

The original budgeted project size of the Green ALF was euro220 million / $310.5 Million; however, the final development plans have been slightly expanded and the agreement and plans are now euro250 million / $351.6 Million.

Green ALFs:

With regards to the Green Assisted Living Facilities (ALFs), in Romania, GCD has been assured that on or before June 1, 2011, GCD will have the FULL contract signed for the building of a chain of Nursing Homes and Assisted Living Facilities in Romania. The total value of the contract is euro250 million / $351.6 Million and our profit margin is expected to be as high as 40%, given no losses to over-runs etc.

All projects listed above will be subsidized and supported by both the Romanian Government and European Union (E.U.).

Mr. Alex Taranu, Groupe Concorde Development's President and CEO, is quoted as saying, "This is a great day for us all, both company and shareholders alike.  I am excited to bring this news to the market today as this was just finalized in the early morning hours Eastern Standard Time.  I look forward to the full and final contracts which will be on my desk soon to be executed immediately.  We fully expect land surveying and preliminary work to commence sometime in late June of 2011."

About Groupe Concorde Developments, Inc.

Groupe Concorde Developments, Inc. ("GCD") of Fort Lauderdale, FL, has been in operation here in America since 2007 and in Europe as Concorde Groupe, GmbH since 2005.  GCD has solar energy, wind energy and waste to energy projects already under contract, with Power Purchase Agreements (PPAs) also already negotiated and signed, on Government Projects, backed by the European Union (E.U.) in Romania and Bulgaria.  Beyond this, GCD also has an "up to" 250 bed Environmentally Friendly, Green Assisted Living Facility (ALF) already Romanian Government and E.U. approved for development.  This Green Friendly ALF concept is also under consideration for implementation in Florida and Arizona as well.

Each of these projects will be substantially underwritten by E.U. subsidies, of which, the granting of these subsidies, so long as all requirements and prerequisites are met, like the purchase of green energy in Europe, under E.U. Law, is a "Matter of Law".

About Ramoil Management, Ltd.

About Us Statement: Ramoil Management, Ltd. (RAMO), soon to be Enviro|Tech Capital, Ltd., is a development stage capital company, focusing on green energy projects, asset management and other niche technologies temporarily headquartered in Long Beach, California.  Ramoil's present strategy is to identify buy-out and/or merger opportunities in the "Green / Renewable Energy Sector" and "Niche Technologies Sector" which will immediately impact and grow our asset and revenue base.  Through our world-wide network of Brokers and Scientists we already have one and possibly more such projects identified and are working through the due diligence process on each of these projects.  

Forward Looking Statements

This news release contains forward-looking statements made by RAMOIL MANAGEMENT, LTD. in reliance upon the safe harbor provisions of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. All such statements included in this press release, other than statements of historical fact, are forward-looking statements. Although Management believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Actual results may differ materially from those indicated by these statements. The following risk factors, among others, could cause actual results to differ materially from those described in any forward-looking statements. These risks and uncertainties include, but are not limited to, economic conditions, changes in the law or regulations, demand for products and services of the company, the effects of competition and other factors that could cause actual results to differ materially from those projected or represented in the forward looking statements. Forward-looking statements are typically identified by the words: believe, expect, anticipate, intend, estimate, and similar expressions or which by their nature refer to future events.

Company and Investor Relations Contact:
Mr. David Reiter at 323-952-3754
[email protected]

SOURCE Ramoil Management, Ltd.

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