GETECH Group plc
05 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 business
specialising in the provision of exploration data and petroleum systems
evaluations, will announce its interim financial results on 29 March 2007.
The Company is currently trading below market expectations. As previously
noted, the Company is dependent on winning a small number of large contracts in
order to achieve its targets. As announced on 24 January the Company has
received its first order for Russian Arctic Shelf aeromagnetic data and the
majority of revenues for this are expected in the second half of the year. The
Company is also in discussions with a number of other oil majors, who have
expressed a strong interest in licensing the Company's Arctic data products. The
Company's dependence on a small number of additional major sales is such that
while the Directors do not rule out the possibility of achieving the market
expectations for the year as a whole, their current best estimate is that the
Company will fall short of this performance.
PSEG has made good progress in recent months. Three commissioned projects have
now been completed, three sponsored studies are nearing completion and a further
three sponsored studies are currently in progress. It is expected that these
studies, when completed, will offer re-selling opportunities to new customers.
These opportunities will commence in earnest at an important international
conference in April.
For further information, please contact:
Buchanan Communications www.buchanan.uk.com
Kelly-Ann Knight 01943 883990
GETECH Group Plc www.getech.com
Prof Derek Fairhead (Managing Director) 0113 343 5240
Colin Glass (Finance Director) 07831 258494
Teather & Greenwood Ltd www.teathers.com
Rob Naylor 020 7426 9000
Sebastian Jones
This information is provided by RNS
The company news service from the London Stock Exchange