Getech Grp Regulatory News (GTC)

7 Dec 2005 13:06

GETECH Group plc07 December 2005 For Immediate Release 07 December 2005 GETECH Group Plc GETECH Wins Prestigious Energy Award at the 'British Business Awards 2005' in Singapore GETECH Group Plc ("GETECH" or "the Company"), the oil services business specialising in the provision of exploration data and petroleum systems evaluations,is pleased to announce that on 18 November 2005, the Company was awarded 'Energy& Utilities Company of the Year' at the 'British Business Awards 2005, Singapore' ("the Award"). Also short listed in the same category as GETECH were, The Wood Group, Aggreko and Pearl Energy, the latter being the winner in 2004. The Award, sponsored by the 'British Chamber of Commerce, Singapore' ("BCCS"), has a clear objective to highlight companies which display an ability to carveout niche positions in very competitive areas of endeavour. Additionally, companies are only nominated if they are active in industries and sectors, which theSingapore Government sees as vital to Singapore's long term commercial success. Mervyn Davies of the BCCS, commenting on GETECH's success stated: "GETECH stands out as a company which has found its place by enlarging the boundaries of knowledge and cutting through the fog of gravity and magnetic datainterpretation. The Company has, at the same time, brought this knowledge intosuccessful commercial application.". Commenting on the Award, Managing Director of GETECH, Professor Derek Fairhead said: "This Award endorses GETECH as a company which has effectively demonstrated itsability to apply technology to create a significant competitive advantage. In2004 GETECH initiated a new Petroleum Systems Evaluation Group ("PSEG") toprovide oil companies with detailed insights into the key source, reservoir andseal issues relating to hydrocarbon basins. During 2005, the work of this Grouphas experienced a considerable increase in demand in South East Asia, due in great measure to the unflagging services of our South East Asia representative JonSavage who accepted the award on behalf of GETECH. We are delighted to have received this Award and the recognition of the BritishChamber of Commerce and the Singapore Government.". For further information, please contact: Buchanan Communications www.buchanan.uk.comAlastair Watson or Kelly-Ann French 01943 883990alastairw@buchanan.uk.com or kelly-annf@buchanan.uk.com GETECH Group Plc www.getech.comProf Derek Fairhead (Managing Director) 0113 343 5240Ian Somerton (Marketing Director) 0113 343 5240Colin Glass (Finance Director) 07831 258494jdf@getech.com Teather & Greenwood Ltd www.teathers.comRob Naylor 020 7426 9000robert.naylor@teathers.com For high-resolution photographs please email: alastairw@buchanan.uk.com For details about the 'British Business Awards' please visit: www.britcham.org.sg Notes to Editors GETECH evolved from a Research Group headed by Professor Derek Fairhead withinthe Department of Earth Sciences at the University of Leeds (UK) in themid-1980s. During the subsequent 15 years, Professor Fairhead completed a numberof major industry-supported continental-scale compilations of gravity and magnetic data. In the year 2000, GETECH spun out from the University as a separatecompany and in 2005, floated on the AIM stock market in London. GETECH is a profitable and cash generative oil services business specialising inthe compilation and analysis of gravity and magnetic data and in evaluatingpetroleum systems within basins. GETECH licenses these data sets and interpretation reports to major oil, gas and mining companies to enable these companies toevaluate regional geology and thereby assist their exploration strategies.GETECH has compiled one of the most extensive commercial libraries of gravity and magnetic data. GETECH is based at the University of Leeds, and it has asubsidiary in Houston, Texas and an active presence in Singapore. On September 23 2005, the Company listed on the AIM market of the London StockExchange, raising just over £3 million via an institutional Placing. GETECH has 3 principal activities: •Global Gravity and Magnetic Data Licensing •Integrated Basin Interpretation Studies and Services •Evaluating the Petroleum Systems within basins The first two activities contributed the majority of Group revenue for the yearended 31 July 2005. The third activity relates to a new group (Petroleum SystemsEvaluation Group, PSEG) which was formed in 2004 and provides oil companies withdetailed insights into the key source, reservoir and seal issues relating tohydrocarbon basins. -ENDS- This information is provided by RNS The company news service from the London Stock Exchange