Business
ConocoPhillips £1.7 million C
ConocoPhillips £1.7 million C.
About this update from Plexus Holdings
[{"type":"text","content":"\n RNS Number : 9281D Plexus Holdings Plc 22 September 2008 \n \nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n22nd September 2008\nPlexus Holdings PLC ('Plexus' or 'the Company')\n£1.7 million HP/HT and X-HP/HT Contract Win with ConocoPhillips\n\nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business have reached an agreement with leading energy company, ConocoPhillips to supply its proprietary POS-GRIP® 15,000 psi High Pressure/High Temperature ('HP/HT') and 20,000 psi Extreme HP/HT ('X-HP/HT') exploration rental wellhead systems for two exploration wells being drilled in the Norwegian North Sea. The potential value of the contract, which is subject to completion of relevant terms, is estimated at £1.7 million with revenues commencing in Q1 of the Company's financial year ending 30 June 2010.\n\nPlexus CEO Ben van Bilderbeek said, 'We are very excited about the opportunities this new contract presents. Not only are we building our position as a leading supplier of oil and gas wellhead equipment in the increasingly buoyant North Sea market, we are also building our reputation as a recognised high pressure spectrum equipment supplier. With this in mind, we are confident that we will continue to secure contract wins with international energy majors for our POS-GRIP wellhead technology.' \n\n* * ENDS * *\n\nFor further information please visit www.posgrip.com or contact: \n \n\n\n\n\nBen van Bilderbeek\n\n\nPlexus Holdings PLC \n\n\nTel: 020 7589 8555\n\n\n\n\nGraham Stevens\n\n\nPlexus Holdings PLC\n\n\nTel: 020 7589 8555\n\n\n\n\nAlan Stewart\n\n\nBrewin Dolphin (Nomad)\n\n\nTel: 0141 221 7733\n\n\n\n\nFelicity Edwards\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\nIsabel Crossley\n\n\nSt Brides Media & Finance Ltd\n\n\nTel: 020 7236 1177\n\n\n\n\n\nNotes\nPlexus Holdings PLC\nPlexus, which began trading on AIM in December 2005, is an established oil and gas engineering, and services business based in Aberdeen, with an office in London and a presence in Houston, Texas. It has developed and patented a method of engineering for oil and gas field wellhea...