Up date about this in the biz section........ Northern petroleum aswell.........
16 Oct '13
RNS Number : 5944Q Plexus Holdings Plc 16 October 2013 ﻿ Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 16 October 2013 Plexus Holdings PLC ('Plexus' or 'the Company') Further Contract Win with BG Egypt for POS-GRIP Wellhead Supply Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has been awarded a contract with BG International Egypt, a division of BG Group plc ('BG Group'), a leading oil and gas operator in the global energy market, for the supply of its POS-GRIP wellhead technology (10,000 psi) and services for oil drilling activities offshore Egypt. The contract is worth up to £350,000 with revenues expected to commence in the second quarter of Plexus' 2014 financial year. This contract win extends Plexus' working relationship with BG Group, having previously worked together in Egypt and in the North Sea. Additionally, the Board believes this agreement further strengthens Plexus' presence and reputation in the region having worked with GDF SUEZ Egypt, and Shell Egypt in the country previously. Plexus' CEO Ben Van Bilderbeek said, "This marks a significant win for Plexus as our POS-GRIP wellhead system was chosen for this work, highlighting firstly, the safety, reliability and performance of our POS-GRIP wellhead systems, which have been supplied to over 300 wells worldwide. "This is a truly exciting time in our Company's development as we continue to win contracts for the supply of our niche POS-GRIP wellhead exploration rental systems for both low and high pressure oil and gas activities, and in turn increase our global reach and reputation. In addition, we are making great strides with our joint industry partner ('JIP') project where we are working alongside six major oil and gas companies to develop and commercialise a new 'HGSS' and safer subsea wellhead, utilising Plexus' patented POS-GRIP technology. The JIP is progressing well and has completed the design process and we are now in the process of building test fixtures. We believe our entry into the subsea market will be a major milestone for the Company as we position Plexus over the long term as the best in class wellhead supplier across oil and gas exploration, both for surface and subsea applications." **ENDS** For further information please visit www.posgrip.com or contact: Ben van Bilderbeek Plexus Holdings PLC Tel: 020 7795 6890 Graham Stevens Plexus Holdings PLC Tel: 020 7795 6890 Jon Fitzpatrick Cenkos Securities PLC Tel: 020 7397 8900 Ken Fleming Cenkos Securities PLC Tel: 0131 220 6939 Felicity Edwards St Brides Media & Finance Ltd Tel: 020 7236 1177 Frank Buhagiar St Brides Media & Finance Ltd Tel: 020 7236 1177 Not
I feel a takeover bid coming given all the share movements recently.
31 Jul '13
Worth a flutter
i am a newbie and looking for companies that i might be able to make a profit in. is this company worth a £500 flutter??
30 Jul '13
Just look at the clients POS attracts! All of them are repeat customers as well. Unfortunately POS does not have the capacity though to seek the demand for the product. This will change soon though. They have just purchased a 25% stake in the small engineering firm......Hmmm
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