New Contract Win - Apache Energy Australia

 

TIDMPOS 
 
RNS Number : 1255V 
Plexus Holdings Plc 
28 October 2010 
 

Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services 
28 October 2010 
                Plexus Holdings PLC ('Plexus' or 'the Company') 
    Expanding Geographic Reach and New Contract Win - Apache Energy Australia 
 
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business 
and owner of the proprietary POS-GRIP  method of wellhead engineering, has 
expanded its geographic reach to Australasia with Apache Energy Australia 
('Apache'), a subsidiary of Apache Energy Limited, a world-wide oil and gas 
exploration and production company.  The contract for the supply of Plexus' 
POS-GRIP  wellhead systems, casing support and services, is expected to commence 
operations offshore mid November 2010. 
 
The new contract win will see Apache utilisePlexus' 15,000 psi high pressure and 
high temperature ('HP/HT') POS-GRIP wellhead technology and mudline casing 
support equipment for oil and gas exploration offshore NW Australia.  Australia 
is a new territory for the Company, and a market in which Plexus hopes to build 
a reputation for supplying wellhead equipment with increased safety and 
technical benefits including higher pressure performance.  Additionally the 
agreement marks a new working relationship between the two companies. 
 
Plexus CEO Ben van Bilderbeek said: "This is an exciting time for Plexus as we 
continue to expand our geographic footprint, win new customers, and build our 
position as the wellhead equipment supplier of choice, particularly in the field 
of HP/HT oil and gas exploration.  With recent events highlighting the need for 
safer and improved operating practices within the oil and gas industry, I 
believe there is an increased opportunity for us to raise awareness of our 
innovative POS-GRIP friction-grip technology, as a 'new' and superior method of 
wellhead engineering.   We look forward to working with Apache, a highly 
regarded oil and gas company, with the aim of expanding our new presence in the 
region as well as becoming an established supplier to the company over the 
coming years." 
 
                                    **ENDS** 
 
For further information please visit www.posgrip.com or contact: 
 
+--------------------+---------------------------+-------------------+ 
| Ben van Bilderbeek | Plexus Holdings PLC       | Tel: [phone]     | 
|                    |                           | 6890              | 
+--------------------+---------------------------+-------------------+ 
| Graham Stevens     | Plexus Holdings PLC       | Tel: [phone]     | 
|                    |                           | 6890              | 
+--------------------+---------------------------+-------------------+ 
| Jon Fitzpatrick    | Cenkos Securities PLC     | Tel: [phone]     | 
|                    |                           | 8900              | 
+--------------------+---------------------------+-------------------+ 
| Ken Fleming        | Cenkos Securities PLC     | Tel: [phone]     | 
|                    |                           | 6939              | 
+--------------------+---------------------------+-------------------+ 
| Felicity Edwards   | St Brides Media & Finance | Tel: [phone]     | 
|                    | Ltd                       | 1177              | 
+--------------------+---------------------------+-------------------+ 
 
Notes to Editors: 
 
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 
150 oil and gas wells by international companies including BHP Billiton, BG 
International, Bowleven plc, BP, Brunei Shell Petroleum, Cairn Energy, Centrica, 
ConocoPhillips, Dubai Petroleum, GDF SUEZ, Global Santa Fe, Maersk, Petro-Canada 
Trinidad & Tobago, Red Sea Petroleum Operating Company, Repsol, RWE, Senergy 
Limited, Shell Egypt, 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 (High Pressure/High Temperature) and X-HP-HT (Extreme High 
Pressure/High Temperature) 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 
   END 
 
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