GETECH Group plc
14 December 2007
GETECH Group plc (the 'Company')
14 December 2007
Contract
GETECH Group plc ('GETECH' or 'the Company'), the oil services business
specialising in the provision of exploration data and petroleum systems
evaluations, is pleased to announce a further licence of the Russian Arctic
Shelf 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 licences
means there was no certainty as to a successful close or the timing and we are
very pleased to be able to confirm it now. We continue to look forward to future
trading with confidence. This agreement follows many months of work by Professor
Fairhead - the founder of GETECH - and his team, and is a great credit to their
efforts'
As previously reported, GETECH has exclusive rights to over 850,000 line
kilometres of flight line aeromagnetic data over the Russian Arctic continental
shelf. These aeromagnetic products will allow oil and gas companies to evaluate
more effectively the potential of Russia's 6,800 km long northern offshore
continental margin. This represents the second major licence of the data.
Enquiries:
GETECH Group plc www.getech.com
Derek Fairhead, Executive Chairman 0113 322 2200
Peter Stephens, Non-Executive Chairman
Landsbanki Securities (UK) Limited 020 7426 9000
Thilo Hoffmann
Sebastian Jones
END
This information is provided by RNS
The company news service from the London Stock Exchange