Getech Grp Share Price (GTC)

I like this:

"Getech’s valuation has come down in recent years, mirroring the trend in the oil and gas sector, since we were heavily focused on this sector. This means that now is a good time to make an investment in the company, buying at a very low share price and at an inflection point as we have already gone through the pains of redeveloping our services and making them applicable to the energy transition. In 2022, 66% of our revenue came from the O&G sector, and the rest is from minerals and geothermal. My goal is to increase our business from green industries and bring the ratio to least 50% - this would place us under the Green Economy Mark, which recognizes London-listed companies deriving half or more of their revenues from products contributing to the green economy."

Https://www.gbreports.com/interview/richard-bennett

"In his latest interview, CEO Richard Bennett discusses how leveraging our extensive geoscience data and AI capabilities enables us to locate subsurface resources essential for the energy transition. Dive into the full interview to also learn about new search spaces and risk/reward strategy in the minerals exploration"

Excellent news, particularly being the first use of Globe to locate porphyry copper.

Hopefully this will lead to further contracts from the rest of the six participants in the BHP Xplor 2024 accelerator programme - GTC have already obtained work from Asian Battery Minerals, who are another participant.

Getech, a world-leading locator of subsurface resources, is pleased to announce it has won a new contract with East Star Resources, a London-listed company focused on copper exploration, to locate porphyry copper deposits in Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme and is the first time Getech’s Globe geoscience platform will be used to locate porphyry copper.

Getech, a world-leading locator of subsurface resources, is pleased to announce it has won a new contract with East Star Resources, a London-listed company focused on copper exploration, to locate porphyry copper deposits in Kazakhstan. The project is backed by the BHP Xplor 2024 accelerator programme and is the first time Getech’s Globe geoscience platform will be used to locate porphyry copper.

https://getech.com/news/getech-engaged-by-east-star-resources-to-locate-porphyry-copper-in-kazakhstan/

Shame they dont seem to care about the inverness and shoreham projects

15 April 2024

Getech Group plc

("Getech" or the "Company")

Announcement of Joint Natural Hydrogen Exploration Agreement

and Two Further Natural Hydrogen Exploration Contracts

Getech, a world-leading locator of subsurface resources, is pleased to announce three separate contract wins related to the exploration of natural hydrogen (also known as 'geologic' or 'white' hydrogen). The first is a strategic joint venture exploration agreement with a new customer partner, while two additional contracts have been secured with existing exploration clients.

All three contracts are aimed at locating natural hydrogen resources for commercial development and demonstrate that the Company is at the forefront of this exciting new subsurface energy transition opportunity. Combined, the three transactions are expected to generate £390k of revenue over 3 years, with additional potential upside.

The joint exploration agreement is with a major European headquartered global industrial and energy company and aims to locate and develop economic natural hydrogen accumulations. In addition to earning fees for its exploration services, under the terms of the contract agreement, Getech will also earn 5% equity interest in any licenses obtained within a designated area and will be 'carried' through the exploration phase, including field sampling, exploration drilling and well-testing.

Over the course of the multi-year programme, Getech will apply its proprietary and industry-leading natural hydrogen location solution. This begins with understanding and modelling the geologic conditions known to produce natural hydrogen. Getech is uniquely placed to do this using its exclusive global geological and geophysical dataset which it has compiled over 30 years and used successfully for decades in other natural resource sectors. Getech will then deploy proprietary machine learning algorithms to find 'digital signature' matches in its data to predict the location of new natural hydrogen accumulations. Once natural hydrogen source rocks have been identified, Getech will use extensive experience gained from the oil and gas industry to predict the migration and trapping of hydrogen through the earth to identify subsurface reservoirs where hydrogen may have accumulated. This will be followed by verifying or 'ground truthing' these results in the field. The new customer partner will then take the lead in subsequent exploration drilling and development activities.

The two additional contracts are with existing exploration clients to screen for natural hydrogen and hydrogen storage projects in Eastern Europe and the USA. The projects will again use Getech's Globe geoscience platform, geophysical data and AI technology to locate areas with the geologic conditions to produce natural hydrogen.

Richard Bennett, CEO of Getech, commented:

"These transactions build on a good start to the current financial year and of course, further expand our expertise in he