Trading Statement

Camco International Ltd
11 July 2007



11 July 2007

            Camco's contracted carbon credit portfolio matures well


Camco is a leading climate change group managing one of the world's
largest portfolios of carbon credits, providing carbon advisory services and
innovating new products and services. Camco works closely with businesses to
identify and develop projects that reduce greenhouse gas emissions.

Camco is pleased to provide a trading update, including several notable success
stories from our offices around the world and our progress in moving towards the
provision of an integrated climate change service.

In the first half of 2007 the Camco Group has shown strong growth in the
development and execution of carbon asset development projects. With new
projects of 15.5m tonnes secured since the last update on 20 April 2007 (25.5m
in Q2), the contracted portfolio stands at 127m tonnes.

Operational execution has been exceptionally strong with 28% of our portfolio
registered, over 67% receiving host country approval and 75% commissioned or
under construction. Our projects are therefore relatively mature, and we can be
reasonably confident that they will deliver carbon credits as forecast by
management.

Highlights:

  * 35m tonnes now registered. Camco has one of the largest registered
    portfolios of projects in the carbon market.
  * The increase in registered tonnes includes Camco's Yangquan project. This
    is the largest coal mine methane project to be registered and uses the
    methodology developed by Camco for such projects.
  * Projects expected to deliver 106m tonnes have completed Project Design
    Documents (PDDs) with 84m of these tonnes having host country approval.
    Obtaining host country approval is a crucial step in the Kyoto process, and
    this progress highlights the strength of the Camco portfolio.
  * Finance is in place for projects delivering 117m tonnes. 93m tonnes are
    under construction or are already operational. Camco now has one of the most
    mature portfolios of projects in the market, with credits scheduled for
    delivery from early in the Kyoto period.


Carbon Asset Development

Volume - Carbon portfolio

-  Camco has contracted new carbon credit projects totalling 15.5m
   tonnes since 20 April 2007.
-  Camco continues to review expected carbon credit production and make
   adjustments to production forecasts over time based on regular project 
   reviews. Our adjusted contracted portfolio has increased to 127m tonnes 
   (118.8m tonnes at 20 April).

Operations - Delivery of carbon credits

Regulatory progress
-  PDDs completed for 106m tonnes
-  Host country approvals have been received for projects representing a
   total of 84m tonnes (up from 67.9m at 20 April)
-  Validation complete for 45m tonnes
-  A total of 35m tonnes are now registered with the UNFCCC (or equivalent in 
   the case of JI projects). This is a significant increase since year end 
   (2.8m), and since 20 April (21.8m).

Project development
-  Financing is already in place for projects expected to deliver 117m tonnes
-  Projects totalling 59m tonnes are under construction
-  Projects totalling 34m tonnes are already constructed and are operational

Value - Carbon credit commercialisation:

-  Projects totalling 16m tonnes have already undergone a first verification
-  46m tonnes (36%) of the contracted portfolio are now under an
   Emission Reduction Purchase Agreement (ERPA), up from 37m at 20 April
-  44m tonnes are under term sheet (total including ERPA 90m tonnes)
-  Camco holds either the right or the option to acquire 34m (26m at 20
   April) carbon credits 'in specie'. The weighted average purchase price is 
   €6-7.


Advisory

Our carbon advisory business continues to expand and allows us to provide
additional value to our clients including the identification of greenhouse gas
mitigation projects. To date, new contracts this year total €4.6m. In South
Africa, ESD is working for the National Energy Regulator to look at policies to
promote renewable electricity. Similar policy projects are underway in Hungary,
Bulgaria, Uganda and Tanzania. In the UK, our work on carbon management and low
carbon property developments continues to grow and with it the potential for the
origination of voluntary carbon credits.

The last quarter has seen the expansion of advisory services into China and the
USA. In China Camco is working with the China Energy Research Institute to look
at market based mechanisms to reduce energy consumption in buildings.

We are seeing good integration benefits where carbon asset development and
advisory teams are working closely together in China, Africa and the USA. For
the US specifically, teams have joined together to enter the North American
market. In East Africa, a joint initiative will result in the advisory practice
working on developing quality VER projects with our carbon asset development
team.


New products

In May ESD launched EPLABEL Online, a web site that allows the public sector to
measure their building's C02 performance. From April next year, all large public
buildings in the EU must display an energy certificate to comply with the Energy
Performance in Buildings Directive. In the UK, buildings are responsible for
half of C02 emissions. Our joint venture EPES will offer an online certification
service to comply with the directive & help identify C02 reduction projects.

Our work on VERs from land use projects using the Plan Vivo methodology is
expanding with contracts in Tanzania and Rwanda to look at the feasibility of
greenhouse gas abatement from land use changes. In Tanzania, the potential from
one region alone is 80m tonnes.

Camco has secured the world's first successful validation of a Bio-diesel
project. This project in Bulgaria has validated carbon credits of 0.75m tonnes
using a methodology developed by KWI - one of our founding companies - based in
Austria.


Global presence

We continue to grow our presence in existing markets whilst expanding into new
key markets.

With JI regulations coming into effect in Russia, our Russian portfolio is
growing and we have contracted 18 projects, which are expected to produce in
excess of 18m tonnes. We now have 13 staff in our Russian offices in Moscow and
Archangelsk.

Our team in China now totals 48 and with over 60 projects in China, we
anticipate continued growth in the monitoring and verifications team. We have
also commenced operations in Kuala Lumpur, Malaysia.

Camco is pleased to announce the opening of offices in Denver and Aspen,
Colorado. Our US growth plan envisages at least 1 additional office to be
operational before year end. Camco also continues to monitor the market for
potential partnerships and acquisitions.

Camco now has 19 offices across the world, and staff totalling 200.


Jeff Kenna, CEO of Camco, commenting upon the Company's progress said:

'We are continuing to grow our business and I am particularly pleased that 75%
of our portfolio is either already commissioned or under construction. With 28%
already registered and 13% having been through their first verification, we are
able to make a better forecast of delivery to 2012 and I am confident that we
will be able to hit our IPO target of delivering and commercialising 127m
tonnes. In addition, with recent acquisitions in China and the UK, we are able
to access increased numbers of carbon asset development projects.'


For further information please contact:

Camco International Limited             [phone]
Jeff Kenna, Chief Executive Officer
Scott McGregor, Chief Financial Officer

Press

Gavin Anderson                          [phone]
Ken Cronin/Kate Hill/Jodie Reilly

Nominated Advisor

KBC Peel Hunt Ltd                       [phone]
Jonathan Marten/David Anderson


About Camco (www.camco-international.com)

Camco works with companies in the developing world to identify and develop
greenhouse gas emission reduction projects, managing the entire process from
project initiation to the delivery of carbon credits for sale in the
international market. Camco is a market leader in China and Russia - two of the
largest potential markets for Carbon Credits - as well as in Eastern Europe and
Africa.

Camco has one of the largest carbon credit portfolios in the world, consisting
of 93 projects under exclusive contract with the potential to deliver over 127.0
million carbon credits through to 2012. Camco was voted 'Best Project Developer'
in a survey of carbon industry participants undertaken by Point Carbon.


About ESD (www.esd.co.uk)

ESD was established in 1989 and since then has helped to define policies and
implement projects in the mitigation of climate change. It provides advisory and
consulting services, working with Government's, NGO's and private sector
enterprises. ESD also undertakes project development work, both for its own
account and in joint ventures. ESD has a staff of over 120 people working in 8
offices across the UK, Eastern Europe and Africa. In 2006, ESD was voted one of
the Financial Times top 50 'Great Places to Work'. Greenergy International Ltd
is a minority shareholder in ESD Ltd.

ESD Ventures (ESDV) works in partnership to develop carbon reduction businesses
and projects in the UK, China and Africa. ESDV works at its own risk and takes
success fees and equity stakes in the client business. The current ESDV
portfolio includes wind farm development, biomass project development and land
use projects all of which may generate carbon credits.






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