Getech Grp Regulatory News (GTC)

GETECH Group plc

("GETECH", "Company" or "Group")

Global Programmes successes: three further sponsors signed up

GETECH is pleased to announce that three further companies have now joined the Company's Global Programmes. This is in addition to the two companies referred to in the recent interim report to 31 January 2012. The Global Programmes is a major strategic initiative in which the Company has been investing over recent years. The sponsors, which are major, well known companies with international interests, fund a three year programme of work, of which the first year's work is complete. Their initial funding commitment runs through till early 2014.

The aim of the Global Programmes is to provide exploration teams in oil and gas companies with a robust and constantly updated platform which supports their understanding, investigation and risking of new areas of interest. The Global Programmes encompass a range of products that build on GETECH's traditional strengths in potential field geophysics as well as our unique global plate model and palaeogeographic mapping techniques. These provide insights into the shape and evolution of sedimentary basins, and the geographic context of the deposition within those basins; this includes reconstructions of past rivers, landscapes and sediment distributions. The palaeogeographies will then be used as the boundary conditions for state-of-the-art palaeoclimate, ocean and tide modelling.

GETECH's Chief Executive, Raymond Wolfson, commented "We have made a major commitment to developing the Global Programmes in recent years and this is now being validated by the extent of interest from a range of clients. While we now have five sponsors already signed up to these multi-year commitments, we are extremely confident that more companies will sign in the near future. Underpinning these Global Programmes is a set of leading edge methodologies and dedicated scientific teams led by our Technical Director, Dr Paul Markwick, which we believe continues to strengthen our reputation as a leading "new ventures" exploration consultancy."

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