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Plexus perfectly positioned for oil price recovery says CEO

Ben van Bilderbeek, chief executive of Plexus Holdings PLC (LON:POS), says the future is “tremendously rosy” for the oil and gas industry.

The established global service provider, which has developed and patented a method of engineering for oil and gas field wellheads and connectors, named POS GRIP, raised US$5mln following a licence agreement with Gusar and CJSC Konar for the manufacture and supply of Plexus' jack-up exploration wellhead equipment.

He says that Plexus is in a “perfect position” as it has “amazing technology” and “an industry that needs it”, despite the current volatility in the oil price.

The chief executive adds that the imbalance in the market is short term “as every major oil company tells us when they borrow money to pay dividends, because who goes out and borrows money to pay dividends unless they think it is a relatively short term thing”.

Quick facts: Plexus Holdings Plc

Price: 11.565 GBX

AIM:POS
Market: AIM
Market Cap: £11.62 m
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