Getech Grp Regulatory News (GTC)

5 Mar 2007 09:11

GETECH Group plc05 March 2007 5 March 2007 GETECH GROUP PLC ("GETECH" or "the Company") Results Date and Trading Update GETECH Group plc ("GETECH" or "the Company"), the oil services businessspecialising in the provision of exploration data and petroleum systemsevaluations, will announce its interim financial results on 29 March 2007. The Company is currently trading below market expectations. As previouslynoted, the Company is dependent on winning a small number of large contracts inorder to achieve its targets. As announced on 24 January the Company hasreceived its first order for Russian Arctic Shelf aeromagnetic data and themajority of revenues for this are expected in the second half of the year. TheCompany is also in discussions with a number of other oil majors, who haveexpressed a strong interest in licensing the Company's Arctic data products. TheCompany's dependence on a small number of additional major sales is such thatwhile the Directors do not rule out the possibility of achieving the marketexpectations for the year as a whole, their current best estimate is that theCompany will fall short of this performance. PSEG has made good progress in recent months. Three commissioned projects havenow been completed, three sponsored studies are nearing completion and a furtherthree sponsored studies are currently in progress. It is expected that thesestudies, when completed, will offer re-selling opportunities to new customers.These opportunities will commence in earnest at an important internationalconference in April. For further information, please contact: Buchanan Communications www.buchanan.uk.comKelly-Ann Knight 01943 883990 GETECH Group Plc www.getech.comProf Derek Fairhead (Managing Director) 0113 343 5240Colin Glass (Finance Director) 07831 258494 Teather & Greenwood Ltd www.teathers.comRob Naylor 020 7426 9000Sebastian Jones This information is provided by RNS The company news service from the London Stock Exchange