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Epic POS
Time: 16:30:05
Mid Price: 39.00
Change Today: 0.00
Change % Today: 0.00
Fifty Two Week High: 48.00
Fifty Two Week Low: 24.00
Market Capital: 31.27
Period & price data
Period Price
Now: 39.00
3 Months ago:
6 Months ago:
1 Year ago:
Additional information
Additional Information
Market: AIM
Sector: Energy
Epic: POS
News: Latest news
Web Site: Plexus Holdings
Other Articles: 20-10-200910-08-200914-07-2009

Crude Oil

Plexus Holdings

The Plexus Group is an established oil and gas engineering, and service business based in Aberdeen, with an office in London and a presence in Houston, Texas.

The Plexus Group has developed and patented a method of engineering for oil and gas field wellheads and connectors, named POS GRIP™, which involves deforming one tubular member against another to effect gripping and sealing.

Monday, June 08, 2009

Plexus Holdings wins wellhead rental deal worth up to £2.4 million

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Oil and gas engineering services business Plexus Holdings PLC (AIM: POS) said it signed an agreement with Red Sea Petroleum Operating Co (RSPOC) to supply its proprietary POS-GRIP High Pressure/High Temperature exploration rental wellhead systems for wells being drilled in the Red Sea.

The value of the contract is estimated at £1.2 million with revenues commencing in December 2009.  This could increase to £2.4 million if RSPOC takes up its option to increase the order if further wells are required, it said in a statement.

Plexus CEO Ben van Bilderbeek said: “We are delighted to have secured yet another contract win in the North African region which is in addition to existing contracts with BP Egypt and Shell Egypt.”

“I believe the company is in a strong position to weather the current (economic) storm due to the continuing demand for its products and the increasing recognition being given to our proprietary technology.  Additionally, with new debt facilities of £5 million in place and the weakening of Sterling over the last 12 months having the potential to boost our growing non UK activities and international contract wins, we look forward to the future with confidence,” he added.

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