Contract Win - Talisman Energy

 

TIDMPOS 
 
RNS Number : 5938V 
Plexus Holdings Plc 
14 July 2009 
 

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 
14 July 2009 
Plexus Holdings PLC ('Plexus' or 'the Company') 
GBP1.5 Million New Two Year Talisman Energy Contract 
 
Plexus Holdings PLC, the AIM listed oil and gas engineering services business 
which supplies wellhead and mudline suspension equipment for exploration and 
production applications, has been awarded a contract with Talisman Energy Inc. 
(TSX:TLM;NYSE:TLM) ('Talisman'), an independent upstream oil and gas operator, 
to supply its proprietary POS-GRIP  High Pressure/High Temperature ('HP/HT') and 
standard pressure POS-GRIP wellhead and mudline suspension equipment to its 
exploration platforms in the Norwegian North Sea. The two-year contract, which 
also has a further two-year option, will be for a series of exploration wells 
and has an initial value of approximately GBP1.5 million, generating revenue 
from the fourth quarter of 2009. 
 
 
As this contract with Talisman demonstrates, Plexus' technology continues to 
gain industry recognition, particularly for HP/HT oil and gas environments where 
particular technical challenges exist and for which POS-GRIP is able to deliver 
unique advantages and solutions. 
 
 
Plexus CEO Ben van Bilderbeek said: "As the fourth such contract signed during 
2009, this agreement is a further testament to the innovation and quality of our 
proprietary POS-GRIP technology. Talisman joins our ever-growing blue-chip 
client list, reinforcing our position as a leading oil and gas engineering 
services business internationally." 
 
 
* * ENDS * * 
 
 
For further information please visit www.posgrip.com or contact: 
+-------------------+-----------------------------+------------------------+ 
| Ben van           | Plexus Holdings PLC         | Tel: [phone]     | 
| Bilderbeek        |                             |                        | 
+-------------------+-----------------------------+------------------------+ 
| Graham Stevens    | Plexus Holdings PLC         | Tel: [phone]     | 
+-------------------+-----------------------------+------------------------+ 
| Alex Dewar        | Brewin Dolphin              | Tel: [phone]     | 
+-------------------+-----------------------------+------------------------+ 
| Felicity Edwards  | St Brides Media & Finance   | Tel: [phone]     | 
|                   | Ltd                         |                        | 
+-------------------+-----------------------------+------------------------+ 
| Isabel Crossley   | St Brides Media & Finance   | Tel: [phone]     | 
|                   | Ltd                         |                        | 
+-------------------+-----------------------------+------------------------+ 
 
 
Glossary 
 
 
HP/HT - High Pressure/High Temperature 
 
 
TRT-S mudline suspension equipment - Plexus' patented system to allow Jackup 
Drilling Rigs to transfer casing loads from the rig itself to the sea bed whilst 
allowing for a subsequent planned dis-engagement and possible suspension/ 
Platform Tieback options. 
 
 
Notes 
Plexus Holdings PLC 
Plexus, which began trading on AIM in December 2005, is an established oil and 
gas engineering and services business which supplies wellhead and mudline 
suspension equipment for exploration and production applications based in 
Aberdeen, with an office in London, Cairo, Kuala Lumpur and a presence in 
Houston, Texas. It has developed and patented a method of engineering for oil 
and gas field wellheads and connectors, POS-GRIP, which involves deforming one 
tubular member against another to effect gripping and sealing. 
 
 
POS-GRIP wellhead systems have to date been used or selected to be used in over 
140 oil and gas wells by international companies including BHP Billiton, BG 
International, BP, Brunei Shell Petroleum, Centrica, ConocoPhillips, Dubai 
Petroleum, Gaz de France, Global Santa Fe, Maersk, Petro-Canada Trinidad & 
Tobago, RWE, Repsol, StatoilHydro, Silverstone Energy, Talisman Energy, Tullow 
Oil, and Wintershall. 
 
 
The Company plans to accelerate the roll out of POS-GRIP technology as a 
superior alternative to current wellhead technology. It has particular 
advantages in HP/HT and X-HP-HT oil and gas environments for which there is 
increasing demand throughout the world. The Company's long-term goal is to 
develop POS-GRIP technology as the future industry standard for wellhead design. 
This objective includes the distribution of POS-GRIP technology through 
licensees to maximise market penetration. 
 
 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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