Getech Grp Regulatory News (GTC)

14 Dec 2007 10:06

GETECH Group plc14 December 2007 GETECH Group plc (the "Company") 14 December 2007 Contract GETECH Group plc ("GETECH" or "the Company"), the oil services businessspecialising in the provision of exploration data and petroleum systemsevaluations, is pleased to announce a further licence of the Russian ArcticShelf aeromagnetic data to a major oil company at a price close to £900,000. Commenting on this order, Peter Stephens, non-executive Chairman of GETECH said: "While we had anticipated a sale this year, the nature of these large licencesmeans there was no certainty as to a successful close or the timing and we arevery pleased to be able to confirm it now. We continue to look forward to futuretrading with confidence. This agreement follows many months of work by ProfessorFairhead - the founder of GETECH - and his team, and is a great credit to theirefforts" As previously reported, GETECH has exclusive rights to over 850,000 linekilometres of flight line aeromagnetic data over the Russian Arctic continentalshelf. These aeromagnetic products will allow oil and gas companies to evaluatemore effectively the potential of Russia's 6,800 km long northern offshorecontinental margin. This represents the second major licence of the data. Enquiries: GETECH Group plc www.getech.comDerek Fairhead, Executive Chairman 0113 322 2200Peter Stephens, Non-Executive Chairman Landsbanki Securities (UK) Limited 020 7426 9000Thilo HoffmannSebastian Jones END This information is provided by RNS The company news service from the London Stock Exchange