Getech Grp Regulatory News (GTC)

24 September 2012

GETECH Group plc

("Getech" or the "Company")

New €1 million contract including sale of Global Programmes

GETECH, the oil services business specialising in the provision of exploration data and geological exploration studies, announces a new call-off contract, valued at €1 million, with a major existing client.

The agreement lists a menu of GETECH products for which the first order, covering the larger part of the total value, has now been received. The order includes a commitment to our Global Programmes, purchase of our global "Trident" gravity dataset, and it brings them into our CryoSat research project, which is a pilot study aimed at improving the exploration value of satellite gravity data. 

The commitment to the Global Programmes makes this company the seventh client to sign up to the core elements of this strategic project following the commitment by ConocoPhillips in August.

GETECH's Chief Executive, Raymond Wolfson, commented, "We have worked with this client for many years and are very pleased to have signed this further substantial contract with them. While the contract covers a range of products, we are particularly happy that they have joined our multi-year "Global Programmes". This contract further reinforces the view that we are offering a range of products and services that is both in the technical forefront and commercially valuable to our clients."

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