href="http://www.posgrip.com/main/about.htm">http://www.posgrip.com/main/about.htm

The Plexus Group is an established oil and gas engineering, and service business based in Aberdeen, with an office in London and a presence in Houston, Texas through PDT. Plexus began trading on AIM in December 2005. The Plexus Group has developed and patented a method of engineering for oil and gas field wellheads and connectors, named POS GRIP™, which involves deforming one tubular member against another to effect gripping and sealing.

POS-GRIP technology was invented by the Plexus Group's founder, Ben van Bilderbeek, an accomplished engineer and successful entrepreneur with over 30 years' industry experience, and a track record of developing and commercialising specialised wellhead and drilling equipment.

The Directors believe that by using POS-GRIP technology in wellhead systems a number of significant advantages over existing 'slip and seal' and 'mandrel hanger' wellhead technologies may be offered which can include, depending on application:

Enhanced safety
Larger metal to metal seal areas
Virtual elimination of movement between the sealing parts
Fewer components
Simplified design and assembly
Enhanced corrosion resistance
Simpler to manufacture
Reduced installation cost
Lower unit cost
Increased reliability

As oil and gas exploration and production shifts to more extreme operational environments in response to increasing demand, the Directors recognise that there is a significant marketing opportunity in unconventional fields. They believe that the POS GRIP wellhead technology is ideally suited to enable some of the more extreme fields to be commercially viable.

Notwithstanding what the Directors perceive as the clear advantages of POS-GRIP technology in niche markets, which can generate high operating margins, the Directors consider that the greatest commercial potential for POS-GRIP technology is in the mainstream production wellhead market. In order to exploit this market, the Company recently introduced a further proprietary POS-GRIP product line known as the HG wellhead (the patent application for which is at the publication stage). The current worldwide market for wellheads and x-mas trees is estimated by the Directors to be in excess of US$2 billion per annum.

POS-GRIP wellhead systems have been used in more than 100 oil and gas wells to date by international customers and end users including, BP, Brunei Shell Petroleum, Maersk, Petro-Canada Trinidad and Tobago, ConocoPhillips, BHP Billiton, Talisman Energy, Tullow Oil, Global Santa Fe, Gaz de France and Wintershall. In February 2004, BP contracted to purchase POS-GRIP gas platform production wellhead systems for the US$4.1 billion Shah Deniz development, one of the major gas fields in the Caspian Sea. Between 2005 and the end of 2008, the Directors estimate that this relationship has and will generate revenues in excess of £6.5 million for the Group.

The Directors believe that its admission to AIM and the resulting raised profile, combined with access to additional working capital facilities, will accelerate the roll out of POS-GRIP technology as a superior alternative to current wellhead technology. It has particular advantages in High Pressure / High Temperature (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. The Directors believe that over time the Plexus Group can become a member of the ‘first tier' of global wellhead systems suppliers.

http://www.plexusplc.com/

Customer demand for the POS -Grip wellhead is outpacing current capacity to deliver.
Plexus could benefit from an ongoing project in partnership with firms such as Royal Dutch Shell to develope a subsea wellhead. This could see it gain exposure to a market which, as a whole is expected to be worth $225 billion over next four years.

up 11%

Looks like investors are waking up to this one.

Added a few more of these .

Recovered well, a good day

In this weeks IC as a takeover candidate - Plexus has developed and patented a 'friction grip technology ' that is fast becoming a best practice product for shallow water wellheads, and indeed has already been used in more than 150 wells by dozens of multinational oil companies.
Yet with exploration increasingly targeting deeper , higher-presssure prospects offshore , the risk of a blow-out is greater than ever and the arguments for not using engineering solutions, where they exist, will be difficult to defend both commercially and legally.
So Plexus is partnering and collaborating with a slew of the biggest and best industry players to develop a similar product for deepwater drilling. At the moment high-pressure/high-temperature deep-water exploration wells (costing up to $200 million (£126 million) to drill) have to be permanently abandoned after drilling whether the reservoir is commercially viable or not, as there is no technical solution available to tie back these wells to production platforms. Should it be successfully commercialised , the technology would transform the industry. It would shave several years off the field development lifecycle and potentially save operators hundreds of millions of dollars in drilling costs.
True, it will likely take a few years to test, prove and permit the new wellhead.
But if it can do so , Plexus's technology will be sought after by every large oil company in the world. This will give it exposure to a market worth as a whole $225 billion over the next four years.

up 7%

Wellhead Animation

Typical "POS-GRIP" Production Wellhead System (.swf - 489KB)



http://www.posgrip.com/flash/Jasmine_HG.html

Added to my holding this morning

AGM Statement
RNS
RNS Number : 1587S
Plexus Holdings Plc
28 November 2012



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

28 November 2012

Plexus Holdings PLC ('Plexus' or 'the Company')

AGM Statement



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, will hold its Annual General Meeting ('AGM') today. Jerome Jeffrey Thrall, Chairman, will make the following statement at the AGM:



"Plexus recently delivered another set of record results for the financial year ended 30 June 2012. During the last twelve month period, revenues rose 27.8% to £19.72m, generating a 33% increase in EBITDA to £6.24m, and pre-tax profits of £3.09m, almost double that of the previous year.



"Multiple contract wins over the period from new and existing customers including leading multinationals BG Group, Maersk and Centrica Oil lie behind the strong trading performance. Our POS-GRIP wellhead systems have now been used or selected to be used in over 250 oil and gas wells across the world, including, Asia Australia, Africa, Europe, Middle East, Russia, and North Africa. With many major oil and gas operators now customers of Plexus, we believe the industry is increasingly recognising our POS-GRIP® wellhead equipment as best in class in terms of quality, reliability and safety. This success to date underpins our decision to implement a growth strategy centred on the strong Asian market including Singapore, Malaysia, and Brunei.



"Winning both new and repeat business however provides the best proof of all that the momentum behind our wellhead rental business is gaining traction. Post period end, we announced a further four contract wins worth a total of £6.15m. Encouragingly, these were all secured as a result of satisfied customers either repeating orders or recommending Plexus' equipment to their peers. I believe Plexus is now in a virtuous circle, whereby new contract wins translate into higher earnings which in turn allow us to invest in further capacity and inventory, enabling us to win and service more contracts whilst maintaining the quality and standards of our offering. At the same time, the cashflow generated by the rental wellhead business enables us to fund the development of innovative projects such as the important 'HGSS' subsea wellhead design Joint Industry Project ('JIP') in conjunction with a number of international oil companies, with the aim of extending the family of POS-GRIP® products that we can offer our blue chip customer base.



"In the year ahead, we expect to report further significant progress across the range of our activities. In our core rental business, I believe we will build on the strong start to the year as demand for our POS-GRIP® proprietary friction-grip wellhead equipment, particularly for high pressure/high temperature ('HP/HT') exploration rental applications continues to grow. Exploration and production activities are moving to ever more complex and hostile environments, notably deepwater where equipment is required to function under extreme pressures and temperatures. By necessity, and in many instances encouraged by regulatory pressures, the industry is therefore turning to those companies that can provide proven, superior and reliable equipment which can also deliver innovative solutions to increasingly challenging drilling conditions. As an example, there is increasing coverage in the trade press of the need for wellhead equipment that can cope with pressures of up to 20,000 psi and beyond. Indeed certain recent merger and acquisition activity is directly aimed at helping to address the need for new solutions and features both for surface and subsea applications.



"The Board believe the achievements of Plexus to date mostly within the jack-up drilling exploration market merely scratch the surface of the opportunity available to us when looking at the wellhead equipment market as a whole. The addressable market for our POS-GRIP technology is already a multi-billion dollar one and is still growing, particularly in the subsea sector where new challenges such as Artic drilling are gaining momentum. Only recently in the Drilling Contractor publication article called 'HPHT research heats up' it was reported that "…today's technological advances won't be enough to sustain long-term production in fields where ever rising pressures and temperatures characterize virtually every reservoir." I am confident therefore that we will continue to increase our market share in the years ahead both through organic growth as well as various strategic initiatives and, in the process, generate substantial value for all our shareholders.



"Finally, as announced on 16 October 2012, I am pleased to confirm that the Board has recommended the payment of an increased final dividend of 0.5p per share, 16% higher than the previous year ended 30 June 2011, and which will be submitted for formal approval at this AGM today."



* * ENDS * *

Pushing North.

Delivering at the moment, High hopes for this one

Only 52,000 traded today, up 7.3%

Good to see the directors purchasing stock. Sends out good vibes.

Looking like investors have seen the huge potential of this company.

A buy in this weeks shares mag. £6.2 m worth of new contracts won since 28 Sept 2012. Enjoying a virtuous circle of contract wins delivering higher earnings which in turn supports investment in new capacity and therefore even more new work.
Demand currently 'outpacing capacity to deliver' according to chief executive officer Ben Van Bilderbeek. In response Plexus has outlined plans to increase its rental well-head inventory.
The company should be able to fund the majority of the expansion out of cash flow but also has a largely undrawn £6m lending facility on hand.

I see they are advertising for staff on the company web site .

Still ticking up, buys 3/1 sell

Very close to £3 now, strong purchasing again today.

;-))

This share has climbed from 90p in January to 290p this week. Sp dropped in the last couple of days. The company looks a great growth company for the future. Will sit this one out. AUDYOR.

Recovering well.

MMs perhaps running low on shares and so the sp dropped . MVO. There being only 83 million shares

Some big buys late today.

dreamcatcher

nice to see you are making money,
now are you aware of the PE this company is?

Historic EPS of 2.99p of over 90 times at 273.50p yes 91.47

margins of 70.90%

on my eyes I can not see continuing with such a good record before competitors take some business away.

I certainly do not like to invest on such a high rating even if we look forward to halving the PE for next year

but good luck

Appreciate your comments Majicjoe.At 30/6/10 They had a P/E of 69.89. This is the only company with such a high P/E in my portfolio (to risky for more)Big rewards if it comes right and a loss if it does not. I do not tend to sit in a company long . I stand to be corrected, as you can see I have invested
in a large number of company's over the last few months and cannot read heavy into every company. . They are working on a huge project with oil companies behind the scenes . If they can keep up with the orders this company could be huge or even be taken out.



QUESTION 8: Are POS-GRIP wellheads only available from
Plexus?
ANSWER: No. Plexus has offered to license the method of POS
-GRIP engineering to all wellhead manufacturers.
POS-GRIP technology is proprietary and therefore only currently available
from Plexus. We however recognize the critical nature of the technology
as operators venture into unconventional territory. Plexus has offered nonexclusive
licenses to all wellhead manufacturers. Our assessment of the
manufacturing savings available from the technology suggests that our
license fees are cost neutral.

Some facts off their own site -

http://www.posgrip.com/pdfs/FAQ_Nov2012.pdf

Still huge news to come / if this comes off it saves 100s of millions of dollars-SUMMARY


The POS-GRIP friction grip method of engineering has numerous applications
beyond wellhead applications such as riser connections, intervention systems
and tanker mooring systems. Plexus are currently working on a number of
R&D projects such as;
POS-GRIP HP/HT Tie Back Connector -This project is currently in the testing
phase and when available will allow operators to pre-drill HP/HT production
wells and tie-back to a platform. Conservative savings to be realised by
operator iin the region of $120m USD per well.
POS-GRIP M2S HP/HT Subsea Tie Back Wellhead -This project offers dual
barrier protection
POS-SET Conductor Tie-back Connector - Testing on-going for North Sea
Operator to enable tie-back from rough-cut conductor stump at seabed.
POS-GRIP HGSS Deepwater Subsea Wellhead-Supported by Operators
within the Joint Industry Project, formed in Q4 2011 with expected trial well in
Q4 2013.

Fully understand -

Companies can and should be expected to improve upon their profits (that’s called company growth) and that’s why investors will pay a premium for a company (expectations for future earnings). But buying stock in a company with a high P/E ratio can often back-fire on the investor. High P/E indicates that the market has already taken notice of the company and that you are buying in at a high-price (a premium). There is not much room for error: if the company slips up even a little bit, then there’s a lot of room for you to lose money.

Majicjoe thanks for your comments they are much appreciated.

Total Joins Plexus' Subsea Wellhead Project
RNS
RNS Number : 9171T
Plexus Holdings Plc
20 December 2012


http://www.moneyam.com/action/news/showArticle?id=4507629


This follows previous news releases dated 19 June 2012, 6 January 2012 and 21 November 2011 announcing that Maersk Oil North Sea UK Ltd, Shell International Exploration and Production B.V., Wintershall Noordzee B.V., Tullow Oil, Eni S.p.A, Oil States Industries Inc., and the UK entity of the world's largest offshore drilling company, have all signed up as consulting partners to the JIP.


the installation time savings alone could be greater than the capital value of the equipment.

up 4%

Plexus has been put forward in the Shares mag UK stock market awards 2013.

The company is in the Best oil and gas plc along with Afren, Amerisur reources,BP,iofina.

The awards will also seek to answer who is truly creating shareholder value ?
The winners in each sector will be judged on their ability to allocate capital in the most effective manor possible. They will be scored on how well they balance risk with reward and ranked by their track record at generating the earnings or dividend growth that inturn yields the optimal total shareholder return.
Awards presented 18 Feb 2013.

May fall further, I hope its reached the bottom.

7% up

GBP0.7million New Contract Win with Glencore
RNS
RNS Number : 5238V
Plexus Holdings Plc
15 January 2013



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

15 January 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

£700,000 New Contract Win with Glencore for Supply of POS-GRIP® HP/HT Wellhead Equipment



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that it has agreed to supply its high pressure/high temperature ('HP/HT') POS-GRIP wellhead equipment, subject to finalisation of the contract, to Glencore Exploration Cameroon Ltd ('Glencore'), the leading integrated commodities producer and marketer, for drilling a gas exploration well offshore Cameroon. The contract will have an estimated initial value of circa £700,000.



The order is initially for one well with an option to increase this to three. This is the first contract Plexus will enter into with Glencore, and it is anticipated that revenues will commence in March 2013. The exploration drilling programme will utilise Plexus' POS-GRIP HP/HT 18-3/4" 15,000 psi wellhead equipment, and this contract further strengthens the Company's growing presence in West Africa, and Cameroon in particular.



Plexus CEO Ben Van Bilderbeek said, "This first contract to supply our POS-GRIP wellhead equipment to Glencore adds another blue chip operator to our broad customer base, and provides further evidence of Plexus' high standing in the oil and gas industry as a supplier of best in class equipment in terms of operational performance and safety. In the last few months, we have announced contract wins in three continents, Asia, Europe, and Africa, illustrating how our patented technology continues to gain traction worldwide. I look forward to providing further updates on our progress as we look to continue to grow Plexus' share in the multi-billion exploration and production market, both surface and subsea, and in the process generate added value for all our shareholders."

One of five company's picked this week by IC for further upside. Work is stacking up for this company for its surface wellhead technology as its 'best in class 'reputation grows. Growth will be transformed by its project to adapt its technology for subsea
wellheads. The company and oil majors as development partners (shell,Total) has fuelled the belief that there is significant commercial potential in the venture.

Winners of Entrepreneur of the Year 2013
RNS
RNS Number : 8694W
Plexus Holdings Plc
01 February 2013



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

1 February 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Winners of 'Entrepreneur of the Year 2013' Award at Grant Thornton's Quoted Company Awards



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that its CEO and founder, Ben Van Bilderbeek has been awarded the 'Entrepreneur of the Year 2013' award at the annual Grant Thornton Quoted Company Awards, presented on 30 January 2013 at the Natural History Museum in London.



Plexus is an AIM quoted UK oil and gas engineering company which has pioneered a safer, more cost effective, reliable and technically superior wellhead using its proprietary POS-GRIP® technology. Mr Van Bilderbeek invented the friction grip method of wellhead engineering, and its first patents date from 1997. He has more than forty years' experience in the industry in engineering and management roles and previously held senior positions with Vetco Offshore Industries (now owned by GE), Dril-Quip and Ingram Cactus. Ben went on to form his own oil and gas consultancy in 1982 and in 1986 he founded Plexus and went on to merge with Ingram Cactus Co. which was later acquired by Cameron. Ben subsequently invented, developed and commercialised POS-GRIP technology, and Plexus Holdings plc was admitted to the London Stock Exchange AIM market in December 2005.



Increasingly, major oil and gas companies are using Plexus' proprietary wellhead equipment as the best available and safest technology ('BAST') solution for HP/TH exploration applications. Plexus to date has supplied its POS-GRIP wellhead systems on more than 300 wells worldwide, operated by global blue chip companies including BG, BP, ConocoPhillips, Gaz de France, Maersk, Repsol, Shell, and Statoil, to name a few, which is a testament to the technical and safety benefits to be derived from the technology.



Importantly, Plexus has established a Joint Industry Project at the request of a number of major oil and gas operators to take its POS-GRIP technology from the surface to subsea, and to address a number of systemic design deficiencies, which came into focus post the Macondo incident in the Gulf of Mexico. The new 'HGSS' wellhead design will incorporate an 18 ¾-in. full-bore system, rated to 15,000 psi and 350°F and upgradeable to 20,000 psi and 450°F; 4 million lbs of instant casing hanger lockdown capacity; annulus monitoring and bleed-off capability to address sustained casing pressure, with diagnostic and remedial capability; and the ability to open and reseal the casing annulus to enable remedial cement jobs. Plexus believes that this design will in time be proven to be BAST for subsea wellhead applications.



Plexus believes that the industries awareness and acceptance of the friction-grip method of engineering over a range of applications will continue to ensure that its organic business will grow, whilst a range of exciting strategic opportunities will present themselves in the future.



The Entrepreneur of the Year 2013 award recognises the entrepreneur at the helm of a young growing company whose flair, professionalism, dedication and opportunism has radically improved the trading prospects and the status of the company.



CEO Ben van Bilderbeek said, "I am delighted to accept this award on behalf of my management team and staff who have helped to build Plexus to where it is today. We all look forward to focusing on delivering the many value creating opportunities that will present themselves in the future."



**ENDS**

GBP 1.5m Extension of Contract with Maersk Oil
RNS
RNS Number : 7473X
Plexus Holdings Plc
13 February 2013



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

13 February 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

£1.5 million Extension of Contract with Maersk Oil North Sea UK Limited



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce that Maersk Oil North Sea UK Limited ('Maersk Oil UK') has agreed to exercise two, one year extension options attached to an original contract awarded to Plexus to supply its High Pressure/ High Temperature ('HP/HT') POS-GRIP® wellhead technology, casing support and mudline suspension services for an exploration programme in the North Sea. The initial contract was announced on 15 December 2009 with an estimated value of £3 million for three wells over a period of three years. Following the exercise of the two extension options the contract has, subject to finalisation now been increased by a minimum of one well with an estimated value of £1.5 million, and will run to the end of 2014.



Under the original contract, Plexus supplied Maersk Oil UK with its POS-GRIP, HP/HT 18.75 inch single stack wellhead on a rig equipped with an 18-3/4" 15M blow out preventer for use on three wells. The extension of the contract is initially for one exploration well in the UK's central North Sea which will utilise Plexus' HP/HT 18-3/4" 15,000psi Thru' Rotary Surface Wellhead system. Revenues are anticipated to commence in August 2013.



Plexus CEO Ben van Bilderbeek said, "This contract extension further strengthens Plexus' market leading position in HP/HT jack-up rig wellhead equipment and service provision in the North Sea. Plexus has become a leading supplier of HP/HT wellhead equipment in the North Sea, thanks to the proven superiority of our POS-GRIP technology in terms of safety, performance, and cost which is increasingly being recognised by the industry. As a result we are highly confident that, as we continue to build our presence in other areas of operations such as Asia and Africa, Plexus' POS-GRIP technology will become the equipment of choice on an industry wide and global basis."



**ENDS**

Winners of Best Oil & Gas Plc Award
RNS
RNS Number : 1424Y
Plexus Holdings Plc
19 February 2013



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

19 February 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Winners of 'Best Oil and Gas Plc' Award at the Stock Market Awards 2013



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that it has been awarded the 'Best Oil and Gas Plc' award at the annual Stock Market Wire Awards, presented on 18 February 2013 at the HAC, Armoury House in London.



The Best Oil and Gas Plc award recognises a publically listed oil and gas company which balances risk with reward to generate the earnings or dividend growth that in turn yield the optimal total shareholder return. The award is stated to have been judged on excellent financial performance and strategic and operational development and a robust total shareholder return during 2012.



Plexus has pioneered a safer, more cost effective, reliable and technically superior wellhead using its proprietary POS-GRIP® technology. Increasingly, major oil and gas companies are utilising Plexus' proprietary wellhead equipment as the best available and safest technology ('BAST') solution for High Pressure/High Temperature ('HP/HT') oil and gas exploration applications. Plexus to date has supplied its POS-GRIP wellhead systems on more than 300 wells worldwide, operated by global blue chip companies including BG, BP, ConocoPhillips, Gaz de France, Maersk, Repsol, Shell, and Statoil, which is a testament to the technical and safety benefits to be derived from the technology.



Plexus also has established a Joint Industry Project ('JIP') at the request of a number of major oil and gas operators to develop and commercialise a new and safer subsea wellhead, utilising Plexus' patented POS-GRIP technology. The JIP is focussed on developing a new subsea wellhead, HGSS, to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010. The new 'HGSS' wellhead design will incorporate an 18 ¾-in. full-bore system, rated to 15,000 psi and 350°F and upgradeable to 20,000 psi and 450°F; 4 million lbs of instant casing hanger lockdown capacity; annulus monitoring and bleed-off capability to address sustained casing pressure, with diagnostic and remedial capability; and the ability to open and reseal the casing annulus to enable remedial cement jobs. Plexus believes that this design will in time be proven to be BAST for subsea wellhead applications.



CEO Ben van Bilderbeek said, "This award is yet another endorsement of the great strides Plexus is making within the oil and gas services arena and evidence that Plexus' reputation within the oil and gas industry as a supplier of best in class wellhead equipment, in terms of operational performance and safety, is gaining traction. With this in mind, I am delighted to accept this award on behalf of the Company's management, fellow employees and stakeholders who have been incremental in building Plexus to where it is today."



**ENDS**

Interim Results

Highlights



Financial

· 21% increase in sales revenue to £11.3m (2011: £9.3m)

· 12% increase in EBITDA to £3.4m (2011: £3.0m)

· 18% increase in profit before tax to £1.7m (2011: £1.5m)

· 133% increase in capital investment of £3.9m (2011: £1.7m) - of which £3.1m (2011: £0.9m) was wellhead rental inventory

· 35% increase in Research and Development ('R&D') to £0.64m (2011: £0.47m)



Operating

· Strong forward order book for POS-GRIP rental wellhead equipment due to a number of new contracts from both existing and first time international oil and gas operators, particularly for high pressure high temperature ('HP/HT') applications

· Evidence of increased activity and investment levels in the North Sea, particularly in the Norwegian sector where new HP/HT customer wins with Lotos Exploration & Production Norge AS ('Lotos'), and Lundin Norway AS ('Lundin'), and additional purchase orders from Talisman Energy Inc. ('Talisman') for both HP/HT and standard pressure wells under an existing contract have been secured

· Four year multi-well follow-on contract with Brunei Shell Petroleum Sdn Bhd ('Shell Brunei') for the supply of HP/HT and standard pressure wellhead equipment in Brunei with an initial value of circa £2m

· Post period end:-

Ø Contract being finalised with new customer Glencore Exploration Cameroon Ltd ('Glencore') for the supply of HP/HT equipment

Ø Two year contract extension awarded by Maersk Oil North Sea UK Limited ('Maersk') for the supply of HP/HT equipment, initially for one well with a value of circa £1.5m

· Joint Industry Project ('JIP') to develop and commercialise a new and safer POS-GRIP subsea wellhead ('HGSS'™) continues to gain momentum and secures further industry recognition with Total E&P Recherche Developpement SAS ('Total') in December joining existing consulting partners ENI S.p.A, Maersk, Shell International Exploration and Production B.V. ('Shell'), Tullow Oil plc, Wintershall, and Oil States Industries Inc.

· Growing number of initiatives within the industry in relation to the need for new and superior technology, in many instances encouraged by various regulatory pressures and the importance of 'BAST' (use of the best and safest available technology), where exploration and production activities are moving to more complex and hostile environments, and in particular for 20,000 psi and subsea applications







http://www.moneyam.com/action/news/showArticle?id=4562613

A speculative buy in this weeks IC

A buy in this weeks IC - The Plexus growth story has some way to run yet.

A buy in this weeks Shares mag as well, a double page feature

Additional GBP1million Well Order from GDF Suez

RNS


RNS Number : 3751F

Plexus Holdings Plc

23 May 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

23 May 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional £1 million Well Order from Gaz de France Suez



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce it has received a purchase order worth circa £1 million from Gaz de France Suez E&P UK Ltd ('GDF'), a leading oil and gas company, to supply its POS-GRIP High Pressure High Temperature ('HP/HT') wellhead system for exploration activities in the UK North Sea. Revenue from this order has recently commenced.



The new purchase order forms part of an existing contract with GDF, as announced on 8 August 2011. The purchase order is for the supply of the Company's POS-GRIP Twin Stack 13-5/8" 15M Surface Wellhead System for the Taggart well where drilling has commenced. A second purchase order with a similar value is anticipated for a further well where drilling would be due to start in the last quarter of 2013. The Company has been supplying GDF with its wellhead equipment since 2007, initially in the North Sea and subsequently in the Egyptian region of the Mediterranean Sea.



Plexus CEO Ben van Bilderbeek said, "These new purchase orders further cement our dominant position in the provision of HP/HT wellhead equipment in the North Sea, an area enjoying a significant pick-up in investment levels and drilling activity. GDF is yet another blue chip customer that has awarded Plexus repeat business, an endorsement of the best in class qualities of our proprietary wellhead equipment in terms of performance, durability and safety. The exceptional track record of our technology has seen us increasingly win business in other areas of the world, notably West Africa and Asia. We are highly confident we can replicate our success in the North Sea and establish Plexus as the leading supplier of wellhead equipment on a global basis and, in the process, generate substantial value for shareholders."



**ENDS**

Plexus Holdings secures additional 1.0m-pound well order
Thu 23 May 2013

Plexus Holdings secures additional 1.0m-pound well order LONDON (SHARECAST) - Plexus Holdings, the AIM-listed oil and gas engineering services business, has received a purchase order worth approximately 1.0m pounds from oil and gas company Gaz de France Suez E&P UK (GDF) to supply its POS-GRIP High Pressure High Temperature wellhead system for exploration activities in the UK North Sea.

Plexus said that the new purchase order formed part of an existing contract with GDF, as announced on August 8th 2011. The purchase order is for the supply of the company's POS-GRIP Twin Stack 13-5/8" 15M Surface Wellhead System for the Taggart Well where it said drilling had commenced.

The company added that a second purchase order with a similar value is anticipated for a further well where drilling would be due to start in the last quarter of 2013.

The company has been supplying GDF with its wellhead equipment since 2007, initially in the North Sea and subsequently in the Egyptian region of the Mediterranean Sea.

Ben van Bilderbeek, Chief Executive Officer of Plexus, commented: "GDF is yet another blue chip customer that has awarded Plexus repeat business, an endorsement of the best in class qualities of our proprietary wellhead equipment in terms of performance, durability and safety."

He added: "The exceptional track record of our technology has seen us increasingly win business in other areas of the world, notably West Africa and Asia. We are highly confident we can replicate our success in the North Sea and establish Plexus as the leading supplier of wellhead equipment on a global basis and, in the process, generate substantial value for shareholders."

Plexus’ share price was up 1.94% to 210p at 15:03 on Thursday.

GBP 2M Contract Win Det Norske

RNS


RNS Number : 6001G

Plexus Holdings Plc

10 June 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

10 June 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional £2 million Two Well Order from Det Norske Oljeselskap



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce it has signed a new contract for two wells from Det Norske Oljeselskap ASA ('DetNor'), a leading oil and gas company, to supply its POS-GRIP High Pressure High Temperature ('HP/HT') wellhead system for two exploration wells in the Norwegian Continental Shelf worth a total of approximately £2 million. Revenues are expected to commence in July 2013 and are estimated to extend over a 12-18 month period.



The contract is for the supply of the Company's POS-GRIP HP/HT 18-3/4" 15M Surface Wellhead System and Mudline Casing Support for two wells to be drilled from the Maersk Giant rig, the first of which is due to spud later this calendar year. The second DetNor well is expected to commence drilling within 16 months. Currently eight wells are scheduled to be drilled on the Maersk Giant rig, six of which will be using Plexus' equipment, including the Frode well operated by Talisman Energy Inc which is currently drilling.



DetNor has previously used the Company's POS-GRIP wellhead equipment during a separate drilling campaign off the Maersk Guardian rig, also in the Norwegian North Sea, in 2012 when it was a part of the consortium that included Centrica and Faroe Petroleum plc (AIM: FPM) which drilled three wells, as previously announced on 29 March 2011.



Plexus CEO Ben van Bilderbeek said, "In recent months, the accelerating level of oil and gas exploration and development activity in the North Sea has been well-documented. Thanks to a dominant position in the provision of HP/HT wellhead equipment in this region, Plexus is already seeing evidence of this increased investment in the form of contract wins including this award by Det Norske. As a result of our success to date, we are well placed to win further repeat and new business both in the North Sea and other parts of the world where our reputation within the industry as a supplier of wellhead equipment with the highest standards of safety, reliability, time saving capabilities and performance is growing. I look forward to providing further updates on our progress in due course."



**ENDS**

New POS-GRIP Customer eni Australia

RNS


RNS Number : 2795I

Plexus Holdings Plc

02 July 2013








Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

2 July 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

New Customer eni Australia POS-GRIP Rental Contract Win



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has been awarded its first contract with eni Australia Limited ('eni Aus'), a subsidiary of eni S.p.A, a world leading energy company based in Italy. The contract is for the supply of 10,000psi POS-GRIP wellhead technology with mudline casing support and services, initially for one exploration well offshore Australia. The contract is estimated to be worth £280,000, with revenues commencing in September 2013, and includes an option for the continuing use of Plexus wellhead and mudline equipment which is anticipated to lead to a further three wells with an additional estimated value of £1 million.



This contract falls within the Plexus' licensing, manufacturing, distribution, and agency agreement with Breda Energia S.p.A ('Breda'), a provider of specialist products and services to the oil and gas sector worldwide (see press release 05.12.11). The agreement granted Breda with exclusive rights to manufacture, rent, sell and service POS-GRIP exploration and production wellheads and other related POS-GRIP products exclusively to eni S.p.A.



Not only is this Plexus' first contract with eni S.p.A, it is the first contract to be secured under its licencing and distribution agreement with Breda; and marks the Company' third contract to be awarded in Australia.



Plexus' CEO Ben Van Bilderbeek said, "This is a significant contract win for Plexus and we believe confirms the licencing and distribution agreement that we signed with Breda as being commercially enhancing for the Company. We hope to build on our relationship with both eni and Breda, building on Plexus' solid reputation for supplying wellhead equipment with increased safety and technical benefits, and hope this will open up a number of additional sales opportunities for Plexus that have not been previously available, particularly in Europe.



"Moreover, this marks another contract win for Plexus in Australia which is proving to be an important market for the company to grow its footprint in a region that is seeing an increasing level of activity in the oil and gas sector."

GBP 2.5M POS-GRIP Contract Win - Statoil

RNS


RNS Number : 7390J

Plexus Holdings Plc

22 July 2013








Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

22 July 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional £2.5 million Order from Statoil Petroleum AS



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has been awarded a contract for the supply of surface exploration wellhead & mudline equipment services, worth approximately £2.5 million from Statoil Petroleum AS, ('Statoil'), a leading oil and gas company. Under the terms of the contract, Plexus will supply its POS-GRIP High Pressure High Temperature ('HP/HT') wellhead system for two exploration wells in the Norwegian Continental Shelf. Revenues are expected to commence in Q3 2014 and the contract period is estimated to extend over a two and a half year period.



The contract is for the supply of the Company's POS-GRIP HP/HT 18-3/4" 15K Wellhead System and Plexus TRT-S Casing Support Mudline System for the two wells. Both HP/HT wells will be drilled using a jackup installation and will require a mudline system to support the casing weight. By electing to use Plexus' wellhead system for these HP/HT wells there is no need for the operator to remove the Blow-out Preventer during operations, a key safety benefit. The contract initially includes two wells, and in addition there are two options for Statoil to extend the contract, with each option lasting for a two year period.



Plexus' CEO Ben Van Bilderbeek said, "Due to the technical nature and extreme operating environment, Plexus' equipment, with its proven track record in terms of safety, reliability and performance, was well placed to win this contract. Statoil are recognised as operating at the pinnacle of operational and equipment safety standards and requirements and as a result this contract win is particularly encouraging.



"So far this year, we have announced six contracts to supply our best in class wellhead systems to leading operators such as Statoil. These contracts clearly illustrate the momentum behind the Company and in turn the growing recognition by the industry of the superiority of our equipment, which we are confident will extend to POS-GRIP applications beyond our organic exploration rental business."



**ENDS**

25% interest in UK Private Engineering Co acquired

RNS


RNS Number : 8831J

Plexus Holdings Plc

23 July 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

23 July 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Purchase of 25% Shareholding in UK Private Engineering Company



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that it has acquired the whole issued share capital of a private company which holds a 25% interest in a private UK engineering company which is a manufacturer of specialist oil and gas equipment. The consideration for the purchase is £725,000.



Plexus' CEO Ben Van Bilderbeek said, "Plexus has become a leading supplier of wellhead equipment in the niche high pressure/high temperature market, for which there is an increasing demand as oil and gas exploration and production becomes evermore technically challenging. With this in mind, we believe this acquisition complements our on-going growth strategy, as we continue to secure rental exploration contracts with global blue-chip clients for our leading POS-GRIP wellhead technology, and address the significant commercial opportunities in the surface production and subsea wellhead market sectors."



**ENDS**

A mention in SM today -We retain faith in the long -term potential of well-head technology play Plexus, Although a very full valuation may help to explain its 31.6%
year-to-date fall.

Pre-Close Trading Update

RNS


RNS Number : 4147K

Plexus Holdings Plc

30 July 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

30 July 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Pre Close Trading Update



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that following the end of the Company's financial year on 30 June 2013, the Board anticipates that the full year results, which are subject to external audit, will be well ahead of current market expectations. The Company intends to announce its full year results in the second half of October 2013.



Plexus' Chief Executive Ben van Bilderbeek said, "I am delighted to report that this last financial year has seen strong year on year growth in revenues, margins, and profitability. The excellent performance reflects continued demand for our best in class POS-GRIP wellhead equipment that delivers proven safety, functionality and cost effectiveness benefits. The high level of new and repeat orders we have reported over the course of the year with blue chip oil and gas operators around the world for our rental POS-GRIP exploration wellheads, illustrates the momentum behind our business as more operators experience the multiple benefits and advantages that our equipment has to offer.



"Looking ahead, the Company is on course to bring its high pressure/high temperature ('HP/HT') tie back connector joint industry project ('JIP') to a conclusion in the coming months. In addition, the Company's exciting HGSS™ new subsea wellhead design JIP is also progressing well with the testing of the prototype due for completion in mid-2014, and will extend our product range into this multi-billion dollar market. Importantly this subsea project addresses a number of key safety and operational challenges such as annulus pressure management that conventional subsea wellhead equipment has to date not resolved, but which are gaining increasing prominence amongst industry leaders such as Oil and Gas UK, Scottish Enterprise, and ITF, a not for profit organisation owned by 30 global oil majors and oilfield service companies.



"With the above developments in mind, the Board is confident that the strong momentum behind the Company will continue into the current financial year and beyond, and we look forward to updating the market on our progress."





**ENDS**

Good recovery on the trading update.





Plexus sees FY results well ahead of market view

StockMarketWire.com

Plexus Holdings said it anticipates its full-year results for the period to end-June will be well ahead of current market expectations.

"Looking ahead, the Company is on course to bring its high pressure/high temperature ('HP/HT') tie back connector joint industry project ('JIP') to a conclusion in the coming months," said CEO Ben van Bilderbeek.

"In addition, the Company's exciting HGSS new subsea wellhead design JIP is also progressing well with the testing of the prototype due for completion in mid-2014, and will extend our product range into this multi-billion dollar market," he said.

"Importantly this subsea project addresses a number of key safety and operational challenges such as annulus pressure management that conventional subsea wellhead equipment has to date not resolved, but which are gaining increasing prominence amongst industry leaders such as Oil and Gas UK, Scottish Enterprise, and ITF, a not for profit organisation owned by 30 global oil majors and oilfield service companies."



Story provided by StockMarketWire.com

Good rise today, fast getting back to its highs.

A good day for Plexus up 9.67%

Contract Win - BG Egypt

RNS


RNS Number : 5944Q

Plexus Holdings Plc

16 October 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

16 October 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Further Contract Win with BG Egypt for POS-GRIP Wellhead Supply



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has been awarded a contract with BG International Egypt, a division of BG Group plc ('BG Group'), a leading oil and gas operator in the global energy market, for the supply of its POS-GRIP wellhead technology (10,000 psi) and services for oil drilling activities offshore Egypt. The contract is worth up to £350,000 with revenues expected to commence in the second quarter of Plexus' 2014 financial year.



This contract win extends Plexus' working relationship with BG Group, having previously worked together in Egypt and in the North Sea. Additionally, the Board believes this agreement further strengthens Plexus' presence and reputation in the region having worked with GDF SUEZ Egypt, and Shell Egypt in the country previously.



Plexus' CEO Ben Van Bilderbeek said, "This marks a significant win for Plexus as our POS-GRIP wellhead system was chosen for this work, highlighting firstly, the safety, reliability and performance of our POS-GRIP wellhead systems, which have been supplied to over 300 wells worldwide.



"This is a truly exciting time in our Company's development as we continue to win contracts for the supply of our niche POS-GRIP wellhead exploration rental systems for both low and high pressure oil and gas activities, and in turn increase our global reach and reputation. In addition, we are making great strides with our joint industry partner ('JIP') project where we are working alongside six major oil and gas companies to develop and commercialise a new 'HGSS' and safer subsea wellhead, utilising Plexus' patented POS-GRIP technology. The JIP is progressing well and has completed the design process and we are now in the process of building test fixtures. We believe our entry into the subsea market will be a major milestone for the Company as we position Plexus over the long term as the best in class wellhead supplier across oil and gas exploration, both for surface and subsea applications."



**ENDS**

golfinger, next earnings announcement 22 Oct 13 .

Yes the PE ratio is even more demanding as at today. For the year to 30 June 13 it was 59.7, much less than the current 87 odd. Cannot find a 2014/15 forward PE.



The continuing search for oil in ever more inaccessible parts of the ocean bed is presenting significant challenges and, aggravated by Deepwater Horizon, new regulatory requirements for underwater high-pressure high-temperature (HPHT) surface exploration drilling. Broker Cenkos calculates that the market value of the subsector is around $7.2 billion at present, rising to a value of circa $12bn by 2014. Of this, the addressable market for Plexus they estimate to be between one third and one half of the total: $2bn-$3.5bn in 2011 growing to $4bn-$6bn in 2014.

Cheers DC, appreciated.

Final Results

RNS


RNS Number : 1440R

Plexus Holdings Plc

23 October 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

23 October 2013

Plexus Holdings plc ('Plexus' or 'the Group')

Preliminary Results for the year to 30 June 2013



Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces its preliminary results for the year ending 30 June 2013.



Results

· Record revenue, EBITDA, profit before tax and profit after tax

· 29.7% increase in revenue to £25.57m (2012: £19.71m)

· 38.3% increase in profit before tax to £4.27m (2012: £3.09m)

· 25.7% increase in profit after tax to £3.06m (2012: £2.43m)

· 21.8% increase in EBITDA to £7.60m (2012: £6.24m)

· 23.6% increase in basic earnings per share to 3.69p (2012: 2.99p)

Highlights

· Strong sales revenues as a result of POS-GRIP® friction-grip rental wellhead equipment continuing to gain market share following contract wins with a number of new international oil and gas operators, and existing customers

· Growing evidence of heightened awareness for the need to adopt the best available and safest technology ('BAST') driven by regulator and industry bodies leading to calls for initiatives to solve long term challenges such as subsea annulus monitoring and management

· Further industry support secured for on-going Joint Industry Project ('JIP') for the development of the new Plexus POS-GRIP HGSS™ subsea wellhead design, with Total E&P Recherche Developpement SAS ('Total') signing up as an additional consulting partner alongside existing partners Eni S.p.A. ('Eni'), Maersk Oil North Sea UK Ltd ('Maersk'), Shell International Exploration and Production B.V. ('Shell'), Tullow Oil plc ('Tullow'), and Wintershall Noordzee B.V. ('Wintershall')

· Secured initial High Pressure/High Temperature ('HP/HT') contracts from three new customers totalling £3.7m: Lotos Exploration and Production Norge AS ('Lotos') for £1.0m, Lundin Norway AS ('Lundin') for £2.0m, and Glencore Exploration Cameroon Ltd ('Glencore') for £0.7m

· HP/HT contract wins with existing customers included Talisman Energy Inc. ('Talisman') for £1.15m, Maersk for £1.5m, Gaz de France Suez E&P UK Ltd ('GDF') for £1.0m, and Det Norske Oljeselskap ASA ('DetNor') for £2.0m

· Additional 4 year multi-well contract secured with Brunei Shell Petroleum Sdn Bhd ('Shell Brunei') for the supply of standard pressure and HP/HT exploration wellhead equipment with an initial value of circa £2.0m

· Post period end secured a first time contract with new customer Eni Australia Limited ('Eni Aus') for the supply of standard pressure equipment, an HP/HT contract from Statoil Petroleum AS ('Statoil') for £2.5m, a standard pressure contract for Centrica Energy Norway ('Centrica') for £0.75m, and an additional standard pressure contract for BG International Egypt ('BG Egypt') for £0.35m

· Post period end acquisition of a 25% interest in a private manufacturer of specialist oil and gas equipment for a consideration of £0.73m

· Post period end, HP/HT Tie-Back has successfully completed the full 'internals' testing cycle and will be shortly completing the 'externals' testing requirements after which we will begin to engage through the sales team with the industry

· Initiatives underway to strengthen Plexus presence in the important Asian region, particularly Singapore, Malaysia, and Brunei with new subsidiaries incorporated in Singapore and Brunei

· Capital investment, primarily in additional wellhead rental inventory sets, increased by 76.2% to £8.14m (2012: £4.62m)

· Research and Development ('R&D') spend, excluding costs of building new test fixtures, increased by 22.0% to £1.46m (2012: £1.20m)

· Renewal of bank facilities in October 2013 of £5m credit facility on a three year revolving basis with an additional £1m overdraft on a yearly term

· The Board is today proposing a 10% increased final dividend of 0.55p per share (2012: 0.5p), which will be subject to shareholder approval at the Annual General Meeting ('AGM') to be held on 5th December 2013. That follows on from the 12.8% increase in the interim dividend (to 0.44p) making a total dividend for the financial year of 0.99p per share. If approved the final dividend will be paid on 13th December 2013 to all members appearing on the register of members on the record date 1st November 2013. The ex-dividend date for the shares is 30th October 2013

Plexus invests for further growth after record full year results

Wed, 23 October 2013


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Market demand for its Pos-Grip offshore oil drilling technology drove strong full-year revenue and profit growth ahead of forecasts at engineer Plexus.

Profits before tax gushed 38% to £4.3m from sales that spurted 30% higher to £25.6m in the year to end-June, leading to 24% earnings growth to 3.69p per share and a 10% increase in the dividend to 0.55p per share.

The AIM-listed company secured initial contracts for its safer deep-sea High Pressure/High Temperature (HP/HT) product from three new customers totalling £3.7m, as well as wins with existing customers including Shell, Maersk and Gaz de France Suez.

Chief Executive Ben van Bilderbeek said: "I believe our proprietary patented technology places us in a unique position to benefit from industry demands both in terms of safety and operational capability".

Plexus invested £5.7m in new units for its rental supply business, which has been validated post year end as wellhead rental exploration activity has remained “buoyant”.

Shares in Plexus were up 3.4% to 255.75p at 12:35 on Wednesday.

A buy in this weeks IC - The oil and gas services engineering group's propriety POS-GRIP method of well-head engineering is rapidly becoming an essential piece of kit as more complex and riskier drilling operations boost demand for better safety equipment. The POS-GRIP well-head connector sits on top of a well and provides protection against blow-outs and the effects of high temperatures. Crucially it allows components to be passed into the well without removing the blow-out protector.
Plexus is also developing ways of translating surface technology for subsea use and its Tie-Back product has now passed through its final testing phase. Broker Cenkos is likely to upgrade its forecasts on the back of recent figures.

MIDAS UPDATE: 380% gain for Plexus Holdings - the well technology firm that we tipped in Jan 2011


By Joanne Hart, Financial Mail On Sunday

PUBLISHED: 11:25, 27 October 2013 | UPDATED: 11:32, 27 October 2013


Plexus Holdings is a small British company with a ground-breaking technology that makes oil wells much safer than ever before.


Tipped by Midas in January 2011 at 55p, the stock is now 264p and brokers believe it has even further to go.


The firm has pioneered a way to seal wellheads, so they grip the pipes to which they are connected more securely. Wellheads come under enormous pressure when energy companies drill so it is critical that they are properly sealed.




Following the 2010 Gulf of Mexico disaster, oil firms and regulators are more aware than ever of the need for top quality equipment.


Plexus’s technology, known as Pos-Grip, is designed to offer a stronger seal, reducing the chance of leakage and the danger of blowouts, where oil bursts out of pipes.


Following the BP Gulf of Mexico disaster, oil firms and regulators are more aware than ever of the need for top quality equipment and Pos-Grip ticks all the right boxes.


The wellheads are already used by several large oil firms in difficult environments and chief executive Ben van Bilderbeek last week unveiled a 38 per cent rise in profits to £4.3 million for the year to June 30 and an 11 per cent increase in the dividend to 0.99p.


Now Plexus is working with major oil firms on designs that could be used for subsea exploration. It is also developing a wellhead that would enable some exploration wells to be converted to production wells, which could save companies hundreds of millions of pounds.

Midas verdict: Plexus is a small firm operating in a conservative industry. But van Bilderbeek is gaining support and the future looks bright. Investors might want to sell half their stock after a great run but keep the rest.

it certainly sounds a very interesting company, but volume is scarily low

(They are covered in the Midas report above and in the contents of the thread.) The P/E Ratio of 71.55 may make a few investors eyes water, but all in all could pan out very well.

Shares today - Look beyond Plexus rating.

While it may be trading on a rich rating investors should focus on the potential of Plexus joint industry projects. A progressive dividend policy adds to the attractions of the wellhead technology firm which generates quality earnings from its existing rental business. Based on house broker Cenkos forecast earnings per share for June 2014 financial year of 4.2p the £219m cap trades on a lofty price/earnings ratio of 61.6, while a predicted 1.2p dividend implies a modest prospective yield of 0.5%,
The equipment which Plexus rents out is based on its propriety POS-Grip technology and is principally used in conjunction with jack-up rigs on high pressure/high temperature wells. In response to growing demand here the group has added substantially to its rental inventory. As a result capital expenditure is up 76.2% year-on-year to £8.1m in the 12v months to 30 June. The investment drive has been largely funded out of net operating cash flow which totalled £7.8m for the period, so these costs will not repeat.
The eventual plan is to market the technology in the larger international production wellhead and subsea markets. A planned new class of system, offering a safer alternative to current subsea well heads, is being developed in partnership with the industry as part of a JIP. The new system has been given the moniker 'POS Grip HGSS' and the roster of the companies involved includes ENI, Royal Dutch Shell, Total and Tullow Oil. An initial prototype costing up to £2m is expected by the third quarter next year, Any intellectual property created through the JIP will be owned by Plexus and Cenkos puts the size of the addressable market here at $5 billion.
Another initiative , being pursued alongside Maersk, is the use of the firm's technology to convert exploration and pre-drilled production wells into either subsea or platform-producing wells. The company believes this could lead to savings for the exploration firm's of between £50m and £200m on each individual well.

Undoubtedly expensive, but the rating reflects the long-term growth prospects.

the problem with this stock is that it is totally illiquid and thus very very dangerous to try to trade

Centrica Production Well Contract Win

RNS


RNS Number : 3326T

Plexus Holdings Plc

19 November 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

19 November 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Centrica Production Well Contract Win



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has extended a contract with Centrica North Sea Gas Ltd ('Centrica') for the supply and sale of an additional POS-GRIP wellhead system (5,000 psi) and services for the GROVE 49/10a-4 (G1) production well in the southern North Sea. The contract is worth up to £850,000 with revenues expected to commence in the first quarter of Plexus' 2014 financial year.



This contract win is a significant milestone for Plexus as it continues to expand its wellhead offering from exploration drilling into the larger and more lucrative production market, where the Company sees considerable future growth potential. In addition it also highlights Plexus' strong working relationship with Centrica, with which Plexus has worked with over the past seven years in the North Sea region.



Plexus' CEO Ben Van Bilderbeek said, "We are delighted to have secured this production wellhead supply contract which not only underpins the strength of our POS-GRIP technology for its safety, reliability and performance but also our strategic expansion from exploration wellhead supply diversifying into larger markets.



"In line with this expansion strategy, we are also actively pursuing the subsea wellhead market where we believe significant commercial opportunities for Plexus exist. We are developing a new and safer subsea wellhead "HGSS", working alongside six major oil and gas companies and believe we are on track to deliver a transformational best in class subsea wellhead system for the future.



"As such this is a truly exciting time for Plexus as we continue to win contracts for the supply of our niche POS-GRIP wellhead jack-up rig rental systems, and continue to position ourselves as a significant wellhead supplier of choice across exploration, production and indeed subsea."



**ENDS**

In Ic this week covering all areas already covered in the thread. Game changer with 10 bagger innovations according to IC.

Additional Well Order from Glencore

RNS


RNS Number : 1935U

Plexus Holdings Plc

28 November 2013






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

28 November 2013

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional 2 Wells with Glencore for Supply of POS-GRIP® HP/HT Wellhead Equipment with Combined Value of £1.6m



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that it has agreed to supply its high pressure/high temperature ('HP/HT') POS-GRIP wellhead equipment to Glencore Exploration Cameroon Ltd ('Glencore'), the leading integrated commodities producer and marketer, for drilling one exploration well known as Parrot, offshore Cameroon. In addition, a second call-off to supply wellhead equipment for an additional well, Malimbe, is currently being reviewed. The two call-offs will have a combined value of circa £1.6m.



These two new wells form part of Plexus' first contract entered into with Glencore, as announced on 15 January 2013, which was initially for one well with an option to increase this to three. The duration of the contract is two years and may be extended by both parties. Revenues have commenced and will continue into the 2014/15 financial year. As with the first well, the Parrot and Malimbe wells will utilise Plexus' POS-GRIP HP/HT 18-3/4" 15,000 psi wellhead equipment.



Plexus CEO Ben Van Bilderbeek said, "These additional contracts with Glencore are in line with Plexus' strategy to expand our core rental wellhead business globally into geographical areas such as Africa, Asia and Australia. This is our fourth contract in 2013 to supply leading operators, such as BG Group and ENI, with our proven POS-GRIP based wellheads outside our traditional area in the North Sea, where we have a dominant position in the HP/HT market. Having recently incorporated new subsidiaries in Asia to strengthen Plexus' presence in this region, we expect to secure more business outside Europe, as we look to build a leading global oil and gas wellhead company."



**ENDS**

Raised GBP6.83 Million

http://www.moneyam.com/action/news/showArticle?id=4717040

Newsletter.

New Product: The HP/HT Tie-Back Connector has successfully completed the
full ‘internals’ testing cycle and will be shortly completing the ‘externals’
testing requirements; aiming to secure a first sale by mid-2014. The HP/HT
tieback connector has been developed in partnership with Maersk and will
enable operators to convert exploration wells to production wells. This could
lead to savings of between £50 million to £200 million for each individual well.


http://www.plexusplc.com/uploads/pdf/news/December_Newsletter.pdf

Strong day knocking on £3.

Wintershall Contract Win

RNS


RNS Number : 6255Z

Plexus Holdings Plc

10 February 2014




Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

10 February 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Wintershall 3 Year Contract Renewal for Supply of POS-GRIP Wellhead Equipment



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities announces that it has subject to final contract details renewed for a further three years its supply contract with leading oil and gas company Wintershall Noordzee B.V for surface wellhead and mudline equipment services for exploration activities in the North Sea, offshore the Netherlands.



Under the terms of the contract, Plexus will initially supply its 10,000psi POS-GRIP wellhead systems for two wells that will be operating at pressures of up to 3,500 psi. The initial contract revenues are expected to commence fourth quarter financial year 2014.



Plexus CEO Ben Van Bilderbeek said, "We are delighted to have renewed this contract with Wintershall for the supply of our pioneering POS-GRIP wellhead systems known for safety, time and cost saving benefits. Having worked together since 2009, Wintershall is a long-standing and valued customer. We believe due to the increased level of activity in the Dutch North Sea region, this renewed contract will bring further wellhead supply opportunities for both our standard pressure, and potentially for the first time High Pressure / High Temperature wellhead rental supply. With this in mind, I look forward to providing updates on our progress in due course."



**ENDS**

onefreesharetip.com

Buy Plexus with a 3 month target of 315p says the Closet Chartist

Plexus Holdings (LON:POS)

Never a stock to let you down on the contracts front, Plexus has announced a three year renewal of its contract in the Dutch North Sea with Wintershall. A long time favourite services play I remain 100% convinced, even if the shares have been a bit pedestrian since the sharp rally last summer. To be fair that rally came after a period when a prolonged drift had put the rather exotic rating in some question, order has since been restored. The rating is high, mainly down to a significant lack of free float but I don’t expect big Ben to start selling now, he’s never offered me any shares in the past and if you can bear it you should look away from the multiple and lock away this high quality stock.




http://www.proactiveinvestors.co.uk/columns/the-pay-zone/15347/the-pay-zone-oil-price-statoil-asa-falklands-stocks-andes-energia-plexus-holdings-and-finally-15347.html

1.1M GBP Maersk Contract Win

RNS


RNS Number : 8450Z

Plexus Holdings Plc

12 February 2014




Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

12 February 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

£1.1m Well Order Signed With Maersk Oil Denmark



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has been awarded a first time contract with Maersk Oil's Danish business unit to supply surface wellhead and mudline equipment services for an exploration well in the Danish North Sea. The initial value of the contract is estimated at approximately £1.1 million with revenues expected to commence in June 2014.



Under the terms of the contract, Plexus will supply its 18-3/4" POS-GRIP surface wellhead and mudline systems for use on a standard pressure exploration well*. The contract grants Maersk Oil the option to secure Plexus' wellhead equipment for an additional well.



Plexus CEO Ben Van Bilderbeek said, "We are pleased to be able to have the opportunity to supply for the first time exploration surface wellhead equipment to Maersk Oil's Danish business unit. As evidenced by the continued flow of new orders we are receiving, operators are increasingly recognising the virtues of using our wellhead equipment not just in terms of the performance, reliability and safety features, but also the time and cost savings our technology offers. In addition to winning new orders in our core rental exploration wellhead business, we are also working alongside a number of leading operators to extend the family of Plexus' POS-GRIP based equipment into the multi-billion dollar subsea exploration and production market with our new HGSS™ subsea wellhead design initiative, and I look forward to providing further updates in due course."



*The well is pending usual authority approvals.



**ENDS**

1.5M GBP Contract with GDF-SUEZ

RNS


RNS Number : 9543Z

Plexus Holdings Plc

13 February 2014




Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

13 February 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional £1.5 million Well Order from - GDF SUEZ E&P UK Ltd



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce it has received a purchase order worth an estimated £1.5 million from GDF SUEZ E&P UK Ltd ('GDF'), a leading oil and gas company, to supply its POS-GRIP wellhead system for exploration activities in the UK Central North Sea. Operations are due to commence shortly.



The new purchase order is for the second of two wells as announced on 23 May 2013 which formed part of an original ongoing contract with GDF, the details of which were provided to the market on 8 August 2011. This second purchase order is for the supply of Plexus' POS-GRIP 18-3/4" Surface Wellhead System for a low pressure well.



Plexus CEO Ben van Bilderbeek said, "Having proved the superiority of our wellhead equipment in HP/HT conditions, as evidenced by Plexus' dominant share in this segment of the North Sea market, we are also receiving orders for wells operating in less extreme/low pressure environments, as this latest GDF order shows. In addition to supplying operators with best in class wellhead equipment in terms of performance, reliability and safety, our POS-GRIP technology also offers considerable time and cost saving benefits, as well as safety features in line with ALARP (as low as reasonably practical) HSE principles. We believe the compelling combination of superior performance and cost savings will drive further orders to supply wells operating in less challenging conditions, as we look to position Plexus as the go-to provider in the multi-billion dollar wellhead equipment market, both on the surface and in due course subsea."



**ENDS**

Whilst on the subject of favourite stocks I am going to have another go at getting you to buy a few of these, helped by another order yesterday, this time a first timer for Maersk in the Danish North Sea. Just like a metronome, the orders come through to Plexus with almost monotonous regularity and build the order book and I’m sure that there is more to come. I always say that this is a service company that you cant judge on traditional valuation metrics otherwise you would never have bought a share but those who have taken the plunge have made out like bandits. Long term readers will know that I am a big chart watcher and you will share my sadness that so far, this new website is unable to put charts into the format, I am determined to make it work one way or another but in the meantime go find a chart, it will show that the price is knocking on the 294p all time high and should it go through that, then the world is, as they say, your lobster…



http://www.proactiveinvestors.co.uk/columns/the-pay-zone/15387/the-pay-zone-oil-price-petroceltic-international-san-leon-energy-amec-petrofac-plexus-holdings-new-guinea-energy-and-finally-15387.html

Senergy Becomes Eighth Major to Join Subsea JIP

http://www.moneyam.com/action/news/showArticle?id=4761330

3Yr Contract with Leading Oil Services Company AGR

RNS


RNS Number : 1559B

Plexus Holdings Plc

28 February 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

28 February 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

New 3Yr Contract with Leading Oil Services Company AGR for POS-GRIP Wellhead Technology with an Initial Order in West Africa



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has agreed a new three year contact ('the Contract') with leading drilling and engineering company AGR Well Management Limited ('AGR'). Under the Contract, Plexus will supply both its standard pressure and High Temperature/ High Pressure ('HPHT') POS-GRIP® wellhead technology and mudline services to AGR for oil and gas exploration activities which it carries out on behalf of its customer base of blue chip oil and gas companies.



Plexus is further pleased to announce that it has already received a first order under the new Contract worth an estimated £400,000 to supply its 10,000psi POS-GRIP equipment for an exploration well in Guinea Bissau, West Africa which AGR will drill on behalf of private Swedish operator Svenska Petroleum Exploration AB ('Svenska'). This will be the first time that a POS-GRIP High Temperature ('HT') annular seal, which is generally used in HPHT systems, is utilised in a standard pressure system, and the selection of Plexus' POS-GRIP technology demonstrates how operators are increasingly electing to use best in class equipment in standard operating environments. Revenues from this well order are expected to commence calendar Q1 2014.



Plexus CEO Ben van Bilderbeek said, "We are delighted to be working with AGR again. As AGR undertakes drilling activity for blue chip oil and gas operators, a number of which have to date not used Plexus' wellhead equipment, we view this Contract as an excellent opportunity to introduce the significant performance, safety and cost benefits of our best in class POS-GRIP wellhead equipment to a wider customer base. The Svenska well order, the first under the Contract with AGR provides a readymade example. Not only is Svenska a new end user of Plexus' equipment, this well also provides a foothold in a new country for us, Guinea Bissau, and in the process further strengthens our position in West Africa, where we have previously worked in Cameroon.



"We are therefore hopeful that the new Contract with AGR will lead to other opportunities, namely the potential requirement for additional equipment and the introduction to other operators in the region. Our focus remains on building Plexus' reputation within the oil and gas industry as a supplier of best in class equipment, in terms of operational performance and safety. In this respect we continue to gain traction both with new customers and in new territories."

GBP900,000 Well Order - Centrica Plc

RNS


RNS Number : 0531D

Plexus Holdings Plc

25 March 2014




Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

25 March 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

£0.9m Well Order Signed With Centrica Plc



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has received an additional purchase order ('PO') from Centrica Plc ('Centrica') to supply surface wellhead and mudline equipment services for a gas appraisal well in the Southern North Sea. The value of the order is estimated at approximately £900,000 with revenues expected to commence in April 2014.



Under the terms of the PO, which is expected to have a duration of 100 days, Plexus will supply its 18-3/4" adjustable surface wellhead and mudline systems for use on the Pegasus West appraisal well. Plexus' wellhead equipment was selected for Pegasus West as it provides a metal to metal annular seal which was a key requirement of Centrica. Plexus has a long standing relationship with Centrica having provided the operator with equipment for use on its first well drilled offshore Norway.



Plexus CEO Ben Van Bilderbeek said, "Today's latest order from Centrica brings the total number of orders we have announced with leading blue chip operators, including GDF Suez, Maersk and Wintershall, so far in 2014 to five. We view this excellent start to the current calendar year as further evidence that our best in class wellhead equipment in terms of performance, safety and reliability is increasingly gaining traction among leading operators. With POS-GRIP technology delivering significant time and operational cost savings to operators, and with new initiatives such as the establishment of a sales and service hub in Singapore to support our expansion into Asian markets, we believe we will continue to win business from both new and existing customers, as we look to build market share and generate shareholder value."



**ENDS**

Interim Results

Highlights



Financial

· 12% increase in sales revenue to £12.64m (2012: £11.31m)

· 8%increase in EBITDA to £3.66m (2012: £3.38m)

· 13% increase in profit after tax to £1.54m (2012: £1.36m)

· 21% increase in Research and Development ('R&D') to £0.71m (2012: £0.59m)



Operating

· Strong sales performance for POS-GRIP rental wellhead equipment - number of new supply contracts from both existing and first time international oil and gas operators, particularly for high pressure high temperature ('HP/HT') applications

· Norwegian sector of the North Sea generated contract wins for two HP/HT rental wellhead systems from Statoil Petroleum AS ('Statoil') with a value of circa £2.5m, and an additional HP/HT wellhead system for an appraisal well for Centrica Energi Norway

· Securing of third Australian customer with new customer Eni Australia Limited ('Eni Aus') (adding to existing customers Apache Energy Australia and Santos Ltd) contracting for the supply of standard pressure rental equipment for an exploration well offshore Australia

· Post period end a further new customer Maersk Oil Denmark contracted for an exploration well in the Danish North Sea, and AGR Well Management Limited ('AGR') agreed a new three year contract which generated a first contract for a new user Svenska Petroleum Exploration AB ('Svenska') in a new territory Guinea Bissau, our second in West Africa

· Wintershall Noordzee B.V. post period end renewed for a further three years a contract to supply surface wellhead and mudline equipment services for exploration activities in the North Sea offshore Netherlands

· Further diversification away from the UK Continental Shelf ('UKCS') was demonstrated by an additional two wells for Glencore Exploration Cameroon Ltd ('Glencore') which we hope together with the Svenska new user win will help underpin additional opportunities in the West African region

· HP/HT Tie-Back product saw the full 'internals' testing cycle successfully completed, and the 'externals' testing requirements will be completed over the next few months after which time sales initiatives will commence to run alongside the installation of a to be identified prototype opportunity

· Joint Industry Project ('JIP') to develop and commercialise a new and safer POS-GRIP subsea wellhead ('HGSS®') is progressing well, and post period end secured further industry recognition with Senergy Holdings Limited ('Senergy') in February joining existing JIP consulting partners Eni S.p.A., Maersk, Shell International Exploration and Production B.V. ('Shell'), Total E&P Recherche Developpement SAS ('Total'), Tullow Oil plc, Wintershall, and Oil States Industries Inc.





http://www.moneyam.com/action/news/showArticle?id=4780288

Contract Win in Morocco with Galp

RNS


RNS Number : 2550F

Plexus Holdings Plc

23 April 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

23 April 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Well Order Signed With New Customer Galp Energia



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has been awarded a contract with new customer Galp Energia Tarfya, B.V. ('Galp') to supply surface wellhead and mudline equipment services for an exploration well offshore Morocco. The value of the contract, which sees Plexus secure a new territory and further strengthens its position in North Africa, is estimated at approximately £600,000 with revenues expected to commence in April 2014.



Under the terms of the contract, Plexus will supply its 18-3/4" POS-GRIP surface wellhead and mudline systems for use on a standard pressure 6,000 PSI exploration well.



Plexus CEO Ben Van Bilderbeek said, "Today's contract with Galp for an exploration well offshore Morocco demonstrates our core wellhead equipment and services rental business continues to win new orders with new customers and in new territories. Having proved our POS-GRIP wellhead equipment is best in class in terms of performance, safety and cost, and having established a dominant position supplying HP/HT wellhead equipment in the North Sea, we are successfully expanding our geographical reach into Asia and Africa. As stated in our recent interim results, approximately 50% of our first half sales were for wells in the Rest of the World compared to 28% the previous year. We are confident that the compelling combination of superior performance and cost savings that our equipment offers will see Plexus continue to build market share outside our North Sea stronghold."



**ENDS**

9% increase in interim dividend to 0.48p per share approved for payment on 25 April 2014 to all shareholders appearing on the register of members on the record date 4 April 2014

GBP900,000 Well Order Signed With Centrica

RNS


RNS Number : 7073F

Plexus Holdings Plc

29 April 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

29 April 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

£0.9m Well Order Signed With Centrica Energy Norway



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that it has secured a new well order to supply its POS-GRIP surface exploration wellhead equipment and services under an existing contract with leading oil and gas company Centrica Energy Norway ('Centrica'). The value of the order is estimated at approximately £900,000 with revenues expected to commence in April 2014.



Plexus is supplying its POS-GRIP 18-3/4" Surface Wellhead System for a low pressure (5,000 psi) exploration well and mudline suspension system. The new well order, for oil exploration activities offshore Norway, is the Company's third project with Centrica under its existing contract as announced on 7 October 2013. This contract was recently extended to 28 February 2015, and today's well order is the first under the extension.



Plexus CEO Ben Van Bilderbeek said, "We are delighted to have secured another new wellhead order in the Norwegian North Sea with Centrica with whom we have a solid working relationship. The latest win further highlights the support that our POS-GRIP technology has with leading oil and gas majors for its safety, time and cost saving capabilities as the wider industry increasingly demands best in class equipment for all drilling activities.



"As we continue to maintain a dominant market presence in the North Sea with contracts in place such as ours with Centrica, recent recommendations made in Sir Ian Wood's 'UKCS Maximising Recovery Review' in February of this year in relation to the UKCS come as welcome news. The report emphasised the importance of making more of the UK's HP/HT resource potential by deploying the best and most cost effective technology and leveraging the capabilities of the UK's own oil and gas supply chain. It was even more welcome to see incentives such as the proposed HP/HT allowance included in the recent UK Budget which means that Plexus will be well placed to take advantage of any increase in activity in the UKCS as a result of these Government initiatives.



"In addition, we are also committed to extending our global footprint. With new initiatives underway such as establishing a sales and service hub in Singapore to support our expansion into Asian markets, we believe we are well placed to deliver on our objectives and continue to win business for the rental of our POS-GRIP wellhead technology from both existing and new customers in the North Sea and further afield."



**ENDS**
----------------------------------------------------------------------------------------------


Payzone - Plexus Holdings (LON:POS)

The good thing about being a holder of Plexus is that there is an unremitting flow of orders, albeit of a modest size, to maintain confidence in the company. Today it is another order from Centrica (LON:CNA) in the Norwegian North Sea under an existing contract but they all count. At 276p the rating is still high and as ever the free float is small but this is too good a stock to ignore and one day will break through big time.

New Customer SCEPCO POS-GRIP Rental Contract Win

RNS


RNS Number : 6242H

Plexus Holdings Plc

21 May 2014








Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

21 May 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

New Customer SCEPCO POS-GRIP Rental Contract Win



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces it has received a Letter of Award for its first contract with Shell China Exploration and Production Company Limited (SCEPCO), a subsidiary of Royal Dutch Shell plc ('Shell'). The contract, which is subject to finalisation of terms, is for the supply of 15,000psi high pressure high temperature ('HP/HT') POS-GRIP wellhead technology with mudline casing support and associated services, initially for one well exploring for gas offshore Hainan Island, China. Revenues from this contract are expected to commence during the next financial year.



This is Plexus' first contract with SCEPCO which was secured through Plexus' Singapore subsidiary, and also the first to be awarded in the region which marks a significant step for the Company as it continues to expand its global reach. In the past Plexus has secured contracts with other subsidiaries of Shell, and therefore the addition of SCEPCO to its client base, particularly in Asia, is welcomed.



Plexus' CEO Ben Van Bilderbeek said, "This is a breakthrough contract for Plexus Singapore, one which will see us supply our proven wellhead equipment for the first time to an established international operator in this important new country. Though we haven't previously worked with SCEPCO, we have secured and fulfilled contracts with other Shell subsidiaries in other parts of the world. This contract is particularly exciting to us as it supports our strategic decision to establish and support an Asian sales and service hub following the recent establishment of Plexus subsidiaries in Malaysia and Singapore. This initiative is in line with our strategy to expand beyond the North Sea where we have a dominant market share supplying HP/HT equipment, as we continue to pursue our goal of establishing Plexus as a leading global supplier to the oil and gas industry."



**ENDS**

The pay zone - Finally, Plexus Holdings (LON:POS) has announced yet another contract this time in a new area, offshore China which is very exciting. The client is Shell whom they have worked for before but not out of the Singapore office. You all know what I think of Plexus and the share price has crept back to nearly 300p after drifting lower earlier in the year. Plexus remains reassuringly expensive which deters all but the canniest of investors who are already reaping rewards and will reap many more I’m sure.

Sp over £3 with todays rise.

Contract Win with Maersk Oil for GBP1.4M

RNS


RNS Number : 6422I

Plexus Holdings Plc

03 June 2014








Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

3 June 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Secured Second Well Contract with Maersk Oil for £1.4M



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that further to the Company's first time contract win with Maersk Oil Danish Business Unit totalling £1.1million announced on 12 February 2014, the option granted under the contract has now been converted to a firm order to supply Maersk Oil Danish Business Unit its POS-GRIP wellhead system and mudline services for an additional well. The value of the additional order is estimated at approximately £1.4 million with revenues expected to commence in October 2014.



Under the terms of the option, Plexus will supply its 18-3/4" POS-GRIP 15,000psi surface wellhead and mudline systems for use on a standard pressure well for exploration activities in the central Danish North Sea.



Plexus' CEO Ben Van Bilderbeek said, "We are delighted to have secured this second well order with Maersk Oil's Danish Business Unit which I believe further highlights the commercial strength of our POS-GRIP wellhead best in class technology for both standard and more challenging high pressure/high temperature exploration activities.



"As we continue to strengthen our foothold in the North Sea market with contract wins such as these, we are also highly committed to expanding both our geographic and application reach. This is evidenced by a number of high profile contracts this year which has seen us win new business in China, utilising our new Singapore and Malaysian hubs, Northern Africa and West Africa. In addition, our expansion into subsea is progressing well. Our pioneering joint industry project aimed at developing a new and safer subsea wellhead to address key technical issues and requirements highlighted by the Gulf of Mexico incident in 2010, recently gained its eighth major oil and gas company member. The final design stage is nearing completion and manufacturing of test fixtures is underway with full system testing expected to be completed in Q3 2014. From here the JIP will move to building the prototype and then a first time installation. We look forward to updating shareholders on our progress as we build Plexus into the wellhead provider of choice and necessity across exploration, production and subsea applications."



**ENDS**

12 Jun Numis 364.00 Add

Shares- big hopes for plexus.

Numis Securities reckons specialist well head provider could be worth£11.45 versus its present 319p trading level. That's assuming the juniors technology is licenced to a big player.

Additional GBP0.6million Well Order from Centrica

RNS


RNS Number : 7877M

Plexus Holdings Plc

21 July 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

21 July 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional £0.6m Well Order Signed With Centrica Plc



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has received an additional purchase order ('PO') from Centrica Energy Exploration and Production ('Centrica') to supply surface wellhead and mudline equipment services for an exploration well in the Southern North Sea, Offshore UK. The value of the order is estimated at approximately £600,000 with revenues expected to commence shortly.



Under the terms of the contract, which is expected to have a duration of 60 days, Plexus will supply its 20" x 12-3/8" adjustable surface wellhead and mudline systems for use on the Grove Deep 49/10a-GD. Plexus has a long standing relationship with Centrica having provided the operator with equipment for use on a number of exploration and appraisal wells in the North Sea including the recent Grove Infill and Pegasus West wells.



Plexus CEO Ben Van Bilderbeek said, "It has always been our belief that once an operator places an initial order for our best in class wellhead equipment, the superior qualities of our POS-GRIP® technology in terms of performance, reliability and safety would lead to follow-up work, as today's contract with Centrica shows. Over the years we have now supplied Centrica with our wellhead equipment for a range of wells operating in conditions ranging from standard pressure to high pressure/ high temperature environments.



"At a time when operators are exploring for hydrocarbons in increasingly difficult conditions, while having to meet higher regulatory safety parameters on the one hand, and the need to control costs on the other, we strongly believe Plexus' equipment resonates with the times as we can deliver on both these objectives. We are therefore highly confident that the momentum behind our core wellhead rental business will be maintained, as more and more operators experience for themselves the unique operational and cost benefits Plexus' wellhead equipment offers."



**ENDS**

Asian Expansion - New JV Company Malaysia

RNS


RNS Number : 9635O

Plexus Holdings Plc

13 August 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

13 August 2014



Plexus Holdings PLC ('Plexus' or 'the Company')

Asia Expansion Strategy Update - Formation of a New Malaysian Joint Venture Company to Pursue Asian Region Business Opportunities



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that its subsidiary Plexus Ocean Systems (Singapore) PTE. LTD has completed the formation of a new Malaysian Joint Venture ('JV') company Plexus Products (Asia) Sdn Bhd ('PPA') in conjunction with a local Malaysian oil and gas partner, Integrated Petroleum Services Sdn Bhd ('IPS').



The establishment of PPA in Malaysia is a key milestone in Plexus' strategy to create a fully operational Asian business hub to increase the supply of its pioneering POS-GRIP wellhead equipment and services to the important and vibrant Australian, Brunei, Indonesian, Malaysian, Thai, and Singaporean oil and gas exploration and production markets.



Importantly, IPS is a well renowned upstream support services business to the offshore oil and gas industry in Malaysia and the Asian Pacific region with in-house manufacturing capabilities. It is expected that PPA will benefit from the strong regional network and relationships of IPS as it seeks to obtain the local licences required to enable the supply of Plexus POS-GRIP wellhead equipment.



Over the past few years Plexus has successfully secured contracts with blue chip IOCs and NOCs in the Asian and Oceania regions such as Apache Energy Australia, eni Australia Ltd., Petronas, Santos Ltd., Shell Brunei, and Shell China. The Plexus Board believes that PPA will augment Plexus' recently established Singaporean regional HQ and services base, where Plexus Singapore has access to valve products which complement its wellhead equipment, and which enables Plexus to provide an enhanced product, servicing, and marketing service to the important Asian and Oceania oil and gas markets.



Plexus CEO Ben Van Bilderbeek said, "It is our vision to create a significant Asian business hub in Singapore which, together with the new Malaysian PPA entity, will service the Asian and Oceania regions. The new JV will allow us to build on our established operational presence in the region which will mirror our flagship and highly successfully head-quarters in Aberdeen, where we have been successful in introducing our POS-GRIP wellhead equipment and now enjoy a leading market position in the Scottish and Norwegian North Sea. The ambition of PPA is to become a pivotal supplier to the oil & gas industry in Malaysia and its first initiative will be to initiate the process of securing necessary local wellhead equipment supply licences.



"This is an exciting period for Plexus. In tandem with expanding our geographic presence for the supply of our best in class High Pressure/ High Temperature and standard pressure POS-GRIP wellhead solutions predominantly in the jack up exploration arena, we are also committed to extending our offering through new innovative product development. One such initiative is our new and safer wellhead HGSS subsea wellhead JIP which we are developing alongside six other oil and gas majors to deliver the next generation subsea wellhead. When considered together with our growing profitable rental wellhead supply business, where we continue to win contracts with various oil and gas majors worldwide, I believe Plexus is well positioned for significant news-flow for 2014 and beyond and I look forward to updating shareholders on our progress in due course."



**ENDS**

Pre-Close Trading Update

RNS


RNS Number : 9615P

Plexus Holdings Plc

26 August 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

26 August 2014







Plexus Holdings PLC ('Plexus' or 'the Company')

Pre-Close Trading Update



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that following the end of the Company's financial year on 30 June 2014, the Board anticipates that the full year results, which are subject to external audit, will be in line with market expectations at the revenue level, with profit after tax materially ahead of market expectations.



The Board is pleased to confirm that the Company has made a positive start to the new financial year, with a strong order book in place for the global supply of its POS-GRIP wellhead equipment. The Asian expansion strategy is building momentum following the recent formation of a new Malaysian Joint Venture Company, and its Joint Industry Project which currently has six major oil and gas operators as members to develop a new and safer subsea wellhead ("HGSS") is at an advanced stage. The Company looks forward to updating the market on further progress in due course, and intends to announce its full year results in the second half of October 2014.



Plexus' Chief Executive Ben van Bilderbeek said, "I am very pleased with our performance as we have continued to achieve strong growth in revenues, margins, and profitability. We have maintained the excellent progress made during the prior year as we continue to win new customer and repeat orders to supply leading oil and gas companies with our proprietary best in class POS-GRIP wellhead technology for exploration activities particularly in the High Pressure/ High Temperature arena, both in the North Sea and further afield to the likes of Africa and Asia. In addition, we continue to pursue a number of important strategic initiatives as we look to build Plexus into the global wellhead provider of choice and necessity across exploration, production, and in due course subsea applications."



**ENDS**

Plexus: Numis moves target price from 364p to 372p and upgrades from add to buy.

GBP1M Contract Win Det Norske - Norway

RNS


RNS Number : 0540Q

Plexus Holdings Plc

27 August 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

27 August 2014



Plexus Holdings PLC ('Plexus' or 'the Company')

£1Million Well Order Signed With Det Norske - Norway



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has received a purchase order ('PO') from Det Norske Oljeselskap ASA ('Det Norske') to supply surface wellhead and mudline equipment services for an oil and gas appraisal well offshore Norway. The value of the order is estimated at approximately £1 million with revenues expected to commence December 2014.



Under the terms of the PO contract, which is expected to have a duration of 80 days, Plexus will supply its 18-3/4" 15,000psi High pressure/ High Temperature ('HP/HT') adjustable surface wellhead and mudline system. Plexus has a long standing relationship with Det Norske having provided the operator with equipment for use on a number of exploration and appraisal wells in the Norwegian North Sea.



Plexus CEO Ben Van Bilderbeek said, "We are delighted to have secured another contract for our proprietary POS-GRIP wellhead system in the North Sea region. Our POS-GRIP wellhead system which is known for its increased safety, time and cost saving capabilities is increasingly gaining traction as the wellhead of choice in the North Sea region, especially for its advantages in the HP/HT oil and gas environments.



"In addition to further strengthening our foothold in the substantive Norwegian North Sea oil and gas region, we continue to grow our wellhead rental business further afield in regions such as Africa and Asia to secure the future success of Plexus as a leading global wellhead engineering company. Furthermore we also are committed to extensive research and development to extend the family of Plexus' POS-GRIP based equipment into the multi-billion dollar subsea exploration and production markets with our new HGSS™ subsea wellhead design initiative JIP, and I look forward to providing further updates in due course."



**ENDS**

BG is Sixth Oil and Gas Major to Join Subsea JIP

RNS


RNS Number : 4295Q

Plexus Holdings Plc

01 September 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

1 September 2014







Plexus Holdings PLC ('Plexus' or 'the Company')

BG International Becomes Sixth Oil and Gas Major to Join POS-GRIP® 'HGSS™' New Subsea Wellhead Design Development Joint Industry Project



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces that BG International Ltd ('BG'), a subsidiary of BG Group, has signed up as the sixth major oil and gas consulting partner to Plexus' on-going Joint Industry Project ('JIP'). The JIP's objective is to develop and commercialise a new and safer subsea wellhead HGSS™, utilising Plexus' patented POS-GRIP friction-grip technology to address key technical issues and challenges highlighted by regulators following the Gulf of Mexico incident in April 2010.



The JIP members now include BG, Total E&P Recherche Developpement SAS, Maersk Oil North Sea UK Ltd, Shell International Exploration and Production B.V., Wintershall Noordzee B.V., Tullow Oil, Eni S.p.A, Oil States Industries Inc., Senergy Holdings Limited, and the UK entity of the world's largest offshore drilling company.



The HGSS subsea wellhead engineering and testing stages are well advanced with a targeted completion of the prototype by the end of 2014 calendar year. The wellhead is designed to be safer, has fewer parts, and delivers instant casing hanger lock down to avoid the use of lock rings and lock down sleeves as required by conventional designs. It has rigid metal-to-metal annular seal technology qualified to match the standard of premium casing couplings and in due course will incorporate annulus monitoring and bleed-off capability to address sustained casing pressure situations together with diagnostic and remedial capability. The inclusion of these key features and capabilities in a subsea wellhead will be an industry first, and to date monitoring of casing annuli capability is not considered feasible for a number of technical and cost reasons.



The JIP members continue to contribute to the design and engineering process. The next significant milestones for the JIP will include completion of the HGSS testing programme followed by the building of a prototype with a targeted first time installation in 2015.



Plexus' CEO Ben Van Bilderbeek said, "I believe that the addition of another major operator to the JIP team is testimony to the significance of this project for the international oil and gas community. BG joining is one more step towards our goal of sharing the potential of friction grip technology with the industry at large. The subsea wellhead is a critical link in the extensive subsea production system chain. Clearly our proprietary technology has to be dovetailed into the product mix customarily provided by the major subsea technology suppliers in order to facilitate its seamless integration. Plexus is in the process of communicating our strategic desire to build such bridges across the industry, and we are confident that these efforts will prove successful in the future. The drivers on which we rely for this strategy are true and reusable metal-to-metal sealing in Ultra-High Pressure/High Temperatureapplications, and substantial installation time cost savings which are in tune with the industry's stated desire to limit the unbridled growth in operating costs."



Further Information



Key features that Plexus and the JIP partners are working towards incorporating into the new POS-GRIP HGSS subsea wellhead design include:



Ø 18-3/4" full bore system, rated to 15,000 psi 350 deg F

Ø Upgradeable to 20,000 psi, 450 deg F

Ø 4,000,000 lbs 'instant' casing hanger lockdown capacity

Ø Avoidance of acknowledged problems associated with use of lock down rings

Ø Annulus monitoring and bleed-off capability to address sustained casing pressure ('SCP') situations, with diagnostic and remedial capability

Ø Ability to open and reseal the casing annulus to enable remedial cement job procedures

Ø Rigid metal annular seal technology qualified to match the standards for premium casing couplings

Ø Meeting the requirements of API 17D/ISO 13628-4, recently provided additional operator requirements, and Plexus 'life cycle' testing



**ENDS**

Expansion of Operational HQ Aberdeen

RNS


RNS Number : 6714Q

Plexus Holdings Plc

03 September 2014








Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

3 September 2014



Plexus Holdings PLC ('Plexus' or 'the Company')

Expansion of Operational Headquarters in Aberdeen through

£2.4m Acquisition of Additional Work Shop and Office Facility



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that it has doubled the size of its operational headquarters in Dyce, Aberdeen through the purchase of a c.36,000 sq.ft. work shop and office facility (the 'New Facility') for £2.4 million. The New Facility lies immediately adjacent to Plexus' existing 36,500 sq. ft site in Aberdeen and was previously occupied by leading oilfield services company Baker Hughes.



The acquisition of the New Facility is in line with the Company's strategy to increase its operational capacity in Aberdeen as it continues to strengthen its ability to support and respond to the growing demand for its best in class POS-GRIP High Pressure/ High Temperature ('HP/HT') and standard exploration, production and ultimately subsea wellhead equipment and services in the North Sea and globally. The New Facility will also enable Plexus to consolidate its work facilities, thereby significantly improving its logistical efficiencies whilst creating additional workshop, warehouse and service bay capacity, in addition to providing further office space.



Plexus' CEO Ben Van Bilderbeek said, "This is a significant milestone for the Company which sees us effectively double our working facilities at our headquarters in Aberdeen. Importantly, we are able to achieve this with minimal disruption to daily activities around on-going operations. We believe this investment will play an important role in our future strategy as an innovative technology-led business which is committed to making significant inroads into the global oil and gas wellhead equipment market. This move illustrates our confidence in the continued growth plans of Plexus' POS-GRIP wellhead equipment supply business in the exploration, production and ultimately subsea markets across our blue chip oil and gas client base, and is a move which we hope will generate new job opportunities in the Aberdeen oil and gas sector and related businesses."



**ENDS**

Significant Order Signed With BG Group

RNS


RNS Number : 0866T

Plexus Holdings Plc

01 October 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services




1 October 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Significant Order Signed With BG Group

Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has received a purchase order ('PO') from BG Group (UK) ('BG UK') to supply surface wellhead and mudline equipment services for an exploration well in the UK Continental Shelf in the North Sea. Revenues are expected to commence in December 2014.

Under the terms of the PO contract, which is expected to have a duration of 150 days, Plexus will supply its 18-3/4" 15,000psi High pressure/ High Temperature ('HP/HT') adjustable surface wellhead and mudline system for a standard pressure well. The well will be drilled using the Transocean Galaxy II rig following completion of the GDF operated Dalziel exploration well, which is also utilising Plexus' wellhead equipment and services.



Plexus has previously provided BG Group with its wellhead equipment and services for use on a number of exploration and appraisal wells in the North Sea, including the Thunderer, White Bear and Jackdaw III projects. In addition, BG International Ltd, a subsidiary of BG Group, recently signed up as the sixth major oil and gas consulting partner to Plexus' on-going Joint Industry Project ('JIP'). The JIP is developing a new and safer subsea wellhead HGSS™, utilising Plexus' patented POS-GRIP friction-grip technology to address key technical issues and challenges highlighted by industry regulators following the Gulf of Mexico incident in April 2010.



Plexus' CEO Ben Van Bilderbeek said, "This latest order from BG Group, a long standing and valued customer of Plexus, further cements our position as the dominant supplier of wellhead equipment for the HP/HT market in the North Sea which bodes well at a time when a number of Government initiatives are underway to boost exploration activity in the North Sea. We have achieved leadership of this market thanks to the best in class qualities of our proprietary POS-GRIP based equipment that offers operators superior performance, enhanced safety and material cost savings. Together with the provision of first class ancillary services, we strongly believe this winning combination will see us deliver on our objective to replicate our success in the North Sea in other geographies, such as Asia where we are building a significant business hub to service the highly active Asian and Oceania regions. I look forward to providing further updates on our progress in due course."



**ENDS**

Final Results




Financial Results

· Record revenue, EBITDA, profit before tax and profit after tax

· 65.1% increase in profit after tax to £5.05m (2013: £3.06m)

· 5.7% increase in revenue to £27.02m (2013: £25.57m)

· 18.7% increase in EBITDA to £9.02m (2013: £7.60m)

· 25.9% increase in profit before tax to £5.38m (2013: £4.27m)

· 62.9% increase in basic earnings per share to 6.01p (2013: 3.69p)

· 12.7% proposed increase in final dividend to 0.62p per share (2013: 0.55p)

Highlights

· Strong financial performance driven by core business of renting proprietary POS-GRIP® friction-grip exploration wellhead equipment, particularly High Pressure/High Temperature ('HP/HT') applications, resulting in repeat business and the winning of new major international oil and gas customers in new territories around the world

· HP/HT rental equipment contract wins with existing customers included Statoil Petroleum AS ('Statoil') for £2.5m, Glencore Exploration Cameroon Ltd ('Glencore') for £1.6m, Maersk Oil Danish Unit ('Maersk') for £1.1m, GDF Suez E&P UK Ltd ('GDF') for £1.5m, and post period end from Det Norske Oljeselskap ASA ('Det Norske') for £1m, and BG Group UK ('BG') for £2m

· New customer wins included a third Australian customer Eni Australia Limited ('Eni Aus') for £1.0m (adding to Apache Energy Australia ('Apache') and Santos Ltd), as well as new customers in new territories Galp Energia Tarfya B.V. ('Galp') in Morocco (£0.6m), and Shell China Exploration and Production Company Limited ('Shell China') offshore Hainan Island, China

· Three year contracts secured - firstly renewal of Wintershall Noordzee B.V. ('Wintershall') contract for the supply of exploration equipment for the North Sea offshore Netherlands, and secondly with leading drilling engineering company, AGR Well Management Limited ('AGR'), which has already generated a contract for a new user, Svenska Petroleum Exploration AB ('Svenska'), in another new territory, Guinea Bissau in West Africa (£0.4m)

· Production wellhead equipment order secured from Centrica North Sea Gas Ltd ('Centrica') for £0.85m which further demonstrates Plexus' ability to supply wellhead equipment not only for exploration wells but also long term production wells which is a significantly larger addressable market

· Continuing evidence of the need for safer and better technology and equipment following the Macondo incident in the Gulf of Mexico in 2010, particularly in relation to HP/HT drilling and subsea where a number of related major industry initiatives have been launched. Plexus firmly believes that for wellheads and metal-to-metal sealing, POS-GRIP technology offers a uniquely superior solution to the challenges faced by operators in the field

· Significant progress being made with the new subsea wellhead design 'HGSS'TM Joint Industry Project ('JIP') - design of the prototype frozen, testing of components well underway, and running of a prototype planned for 2015

· Strong industry support for HGSS JIP as evidenced by both Senergy Holdings Limited ('Senergy') and post period end, BG International Ltd joining alongside existing consulting partners Eni S.p.A. ('Eni'), Maersk Oil North Sea UK Ltd ('Maersk North Sea'), Oil States Industries Inc. ('Oil States'), Shell International Exploration and Production B.V. ('Shell International'), Total E&P Recherche Developpement SAS ('Total'), Tullow Oil plc ('Tullow'), and Wintershall

· HP/HT Tie-Back Connector JIP reached another milestone with full product testing commencing post period end, and is due for completion before the calendar year end - technical sales discussions are in progress with an international oil and gas operator regarding opportunities in the UK and Egypt

· Capital investment in additional rental wellhead assets was £2.32m, a planned reduction on the prior year's record level (2013: £5.72m)

· Research and Development ('R&D') spend, excluding cost of building test fixtures, increased by 61% to £2.37m (2013: £1.46m)

· Spending on intellectual property ('IP') patent development and filings increased by 42.7% to £0.18m (2013: £0.12m)




http://www.moneyam.com/action/news/showArticle?id=4912575

Plexus: Numis cuts target price from 372p to 350p and keeps its buy recommendation.

GBP1.9 Million Well Order

RNS


RNS Number : 7468X

Plexus Holdings Plc

24 November 2014




Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

24 November 2014



Plexus Holdings PLC ('Plexus' or 'the Company')

£1.9 Million Well Order



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has received a purchase order ('PO') from a major oil and gas operator to supply surface wellhead and mudline equipment services for a gas and condensate exploration well in the UK Continental Shelf in the North Sea. The value of the order is estimated at approximately £1.9 million with revenues expected to commence in November 2014.



Under the terms of the contract, which is expected to have a duration of 150 days, Plexus will supply its 18-3/4" 15,000psi High Pressure/High Temperature ('HP/HT') adjustable surface wellhead and mudline casing support systems. Plexus has a long-standing relationship with this client who was the first to use the Company's 18-3/4" 15,000psi HP/HT wellhead on the Norwegian Continental Shelf.



Plexus' CEO Ben Van Bilderbeek said, "This new order coming on the back of last month's order from BG Group demonstrates that from a dominant position in the HP/HT market, our core wellhead equipment rental business based on our proprietary POS-GRIP technology continues to win repeat business from customers operating in the North Sea.



"In February 2014 the Wood Report highlighted the need for increased investment in the North Sea. In the resultant upcoming Fiscal Review, due to report in December, UK ministers are expected to unveil new HP/HT tax breaks to boost exploration which we hope will act as a positive catalyst for new drilling activity and indeed new business opportunities for Plexus in the region.



"In addition, we are making excellent progress in rolling out our offering outside the North Sea. We have already established an Asian hub with bases in Singapore and Malaysia to pursue opportunities in this highly active region whilst, albeit at an earlier stage, we are exploring ways to expand into the Americas. Having proven the superiority for safety, performance and time saving capabilities of our equipment in the North Sea, we are highly confident we can capitalise on the considerable expansion opportunities that exist globally for our core jack-up exploration rental business, and I look forward to providing further updates on our progress."



**ENDS**

GBP0.9 Million Well Order

RNS


RNS Number : 2366Y

Plexus Holdings Plc

28 November 2014






Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

28 November 2014

Plexus Holdings PLC ('Plexus' or 'the Company')

Additional Well Order Signed With Det Norske - Norway



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has received a purchase order ('PO') from Det Norske Oljeselskap ASA ('Det Norske') to supply surface wellhead and mudline equipment services for Geopilot#2, an oil and gas appraisal well on the Ivar Aasen development project, offshore Norway. Geopilot#2 will be the seventh Det Norske well to use Plexus' POS-GRIP wellhead equipment since 2012, highlighting how the Company continues to win repeat business from its blue chip customer base. The value of the latest order is estimated at approximately £0.9 million with revenues expected to commence in February 2015.



Under the terms of the PO contract, Plexus will supply its 18-3/4" 15,000psi High pressure/ High Temperature ('HP/HT') adjustable surface wellhead and mudline system. The drilling of Geopilot#2 will directly follow the Geopilot#1 well which will also be using Plexus' POS-GRIP® based equipment. Both wells will be drilled using the recently built Maersk Interceptor rig. Plexus' equipment has been selected for use on the two wells as a result of its superior safety and performance capabilities, in addition to the time/cost savings it delivers.



Plexus CEO Ben Van Bilderbeek said, "Geopilot#2 is the third order we have received for our best in class wellhead equipment for wells offshore Norway during the 2014 calendar year, evidence of the key role Plexus is playing in an area experiencing heightened levels of activity. At the wider regional level including the UK, Danish and Dutch zones of the North Sea, today's order is the tenth we have been awarded in 2014 and further cements our position as the go-to provider of HP/HT wellhead equipment, known for its increased safety, time and cost saving capabilities. We are also looking to replicate our success in the North Sea in other geographies, in line with our strategy to build a leading global wellhead engineering company. This is evidenced by our move into Asia where we are establishing a fully operational business hub to supply our POS-GRIP wellhead equipment and services to the region's fast-growing oil and gas exploration and production markets. I look forward to providing further updates on our progress in due course."



**ENDS**

AGM Statement


http://www.moneyam.com/action/news/showArticle?id=4940515

Annual report and accounts

Financial Results
• Record revenue, EBITDA, profit before tax and profit after tax
• 65.1% increase in profit after tax to £5.05m (2013: £3.06m)
• 5.7% increase in revenue to £27.02m (2013: £25.57m)
• 18.7% increase in EBITDA to £9.02m (2013: £7.60m)
• 25.9% increase in profit before tax to £5.38m (2013: £4.27m)
• 62.9% increase in basic earnings per share to 6.01p (2013: 3.69p)
• 12.7% proposed increase in final dividend to 0.62p per share (2013: 0.55p)
Highlights
• Strong financial performance driven by core business of renting proprietary POS-GRIP® friction-grip
exploration wellhead equipment, particularly High Pressure/High Temperature (‘HP/HT’) applications,
resulting in repeat business and the winning of new major international oil and gas customers in new
territories around the world
• HP/HT rental equipment contract wins with existing customers included Statoil Petroleum AS (‘Statoil’)
for £2.5m, Glencore Exploration Cameroon Ltd (‘Glencore’) for £1.6m, Maersk Oil Danish Unit (‘Maersk’)
for £1.1m, GDF Suez E&P UK Ltd (‘GDF’) for £1.5m, and post period end from Det Norske Oljeselskap
ASA (‘Det Norske’) for £1m, and BG Group UK (‘BG’) for £2m
• New customer wins included a third Australian customer Eni Australia Limited (‘Eni Aus’) for £1.0m
(adding to Apache Energy Australia (‘Apache’) and Santos Ltd), as well as new customers in new territories
Galp Energia Tarfya B.V. (‘Galp’) in Morocco (£0.6m), and Shell China Exploration and Production
Company Limited (‘Shell China’) offshore Hainan Island, China
• Three year contracts secured – firstly renewal of Wintershall Noordzee B.V. (‘Wintershall’) contract for
the supply of exploration equipment for the North Sea offshore Netherlands, and secondly with leading
drilling engineering company, AGR Well Management Limited (‘AGR’), which has already generated a
contract for a new user, Svenska Petroleum Exploration AB (‘Svenska’), in another new territory, Guinea
Bissau in West Africa (£0.4m)
• Production wellhead equipment order secured from Centrica North Sea Gas Ltd (‘Centrica’) for £0.85m
which further demonstrates Plexus’ ability to supply wellhead equipment not only for exploration wells
but also long term production wells which is a significantly larger addressable market
• Continuing evidence of the need for safer and better technology and equipment following the Macondo
incident in the Gulf of Mexico in 2010, particularly in relation to HP/HT drilling and subsea where a number
of related major industry initiatives have been launched. Plexus firmly believes that for wellheads and
metal-to-metal sealing, POS-GRIP technology offers a uniquely superior solution to the challenges faced
by operators in the field
• Significant progress being made with the new subsea wellhead design ‘HGSS’TM Joint Industry Project
(‘JIP’) – design of the prototype frozen, testing of components well underway, and running of a prototype
planned for 2015
• Strong industry support for HGSS JIP as evidenced by both Senergy Holdings Limited (‘Senergy’) and
post period end, BG International Ltd joining alongside existing consulting partners Eni S.p.A. (‘Eni’),
Maersk Oil North Sea UK Ltd (‘Maersk North Sea’), Oil States Industries Inc. (‘Oil States’), Shell
International Exploration and Production B.V. (‘Shell International’), Total E&P Recherche Developpement
SAS (‘Total’), Tullow Oil plc (‘Tullow’), and Wintershall
• HP/HT Tie-Back Connector JIP reached another milestone with full product testing commencing post
period end, and is due for completion before the calendar year end - technical sales discussions are in
progress with an international oil and gas operator regarding opportunities in the UK and Egypt
• Capital investment in additional rental wellhead assets was £2.32m, a planned reduction on the prior year’s
record level (2013: £5.72m)
• Research and Development (‘R&D’) spend, excluding cost of building test fixtures, increased by 61% to
£2.37m (2013: £1.46m)
• Spending on intellectual property (‘IP’) patent development and filings increased by 42.7% to £0.18m
(2013: £0.12m)



http://www.posgrip.com/uploads/misc/Plexus_Holdings_plc_-_Annual_Report__Accounts_2014.pdf

Malcy's blog -Plexus Holdings (LON:POS)

The one thing you can always be sure of is that when all is looking gloomy Plexus will come up with an order, today is no different. The company has won an additional three well order from Brunei Shell Petroleum for POS-GRIP wellhead systems worth £1.5m which proves not only that its technology remains top drawer but that its clients think so too, BSP has worked with Plexus since 2006.

Interim results


Financial Results

· 7% increase in sales revenue to £13.51m (2013: £12.64m)

· 14% increase in EBITDA to £4.16m (2013: £3.66m)

· 28% increase in profit after tax to £1.97m (2013: £1.54m)

· 25% increase in basic earnings per share to 2.32p (2013: 1.85p)

· 6% increase in interim dividend to 0.51p per share approved for payment on 22 April 2015 to all shareholders appearing on the register of members on the record date 7 April 2015



Highlights

· Strong financial performance for POS-GRIP friction-grip rental wellhead equipment as a result of a combination of new and on-going contracts with a range of major international oil and gas operators particularly for High Pressure/High Temperature ('HP/HT') applications

· Two purchase orders for HP/HT rental wellhead systems secured from Det Norske Oljeselskap ASA ('Det Norske') for two wells in Norwegian sector of the North Sea with a value of circa £1.9m

· Contract received from a major oil and gas operator for the supply of HP/HT 15,000 psi wellhead equipment for the UK Continental Shelf ('UKCS') for circa £1.9m - the operator who is a long standing customer was the first operator to use Plexus HP/HT equipment on the Norwegian Continental Shelf

· Additional order secured from Centrica Energy Exploration and Production ('Centrica') for the Southern North Sea, offshore UK for standard pressure equipment with a value of circa £0.6m

· Contract received from BG Group (UK) for the supply of HP/HT exploration wellhead equipment in the UKCS with a value of circa £1.9m

· Post period end additional purchase orders received for three standard pressure and HP/HT exploration wells with a total value of circa £1.5m from long standing customer Brunei Shell Petroleum Sdn Bhd ('Shell Brunei') under an existing four year contract which runs to 2016

· Shell China Exploration and Production Company Limited ('Shell China') HP/HT gas exploration well announced in May 2014 offshore Hainan Island has commenced operations, and Plexus hopes that this will lead to further opportunities in this increasingly important Asian region where Plexus has also supplied wellhead equipment to Australia, Brunei and Malaysia

· The new subsea wellhead design HGSS™ Joint Industry Project ('JIP') continues to make excellent progress with the two remaining key test interfaces, to verify performance, entering their final stages with target completion by July this year - the building of a prototype single string system commenced in February 2015 and is expected to be completed in readiness for display at the SPE Offshore Europe Exhibition and Conference in Aberdeen ('OE2015') in September. Following launch, we hope that in conjunction with our JIP partners to deploy the prototype in the field in 2016

· Industry support for the HGSS JIP continues to be strong as demonstrated by the addition of BG International Ltd as a new consulting partner to the JIP in September alongside Eni S.p.A., Maersk, Senergy Holdings Limited ('Senergy'), Shell International Exploration and Production B.V. ('Shell'), Total E&P Recherche Developpement SAS ('Total'), Tullow Oil plc, Wintershall and Oil States Industries Inc.

· HP/HT Tie-Back JIP connector product is now ready for customisation and manufacture to suit specific requirements associated with an individual customer's HP/HT project - the unique advantages of this POS-GRIP product will now begin to be marketed to the industry

· New POS-GRIP product - POS-SET Connector™ - which is designed to enable operators to re-establish a connection onto rough conductor casing that has been previously cut above the seabed to facilitate abandonment operations, offers uniquely superior features and moves Plexus into the growing abandonment market

· Significant increase in research and development ('R&D') spend, excluding costs of building test fixtures, increased by 94% to £1.36m reflecting the innovative and proprietary technology driven nature of Plexus at a time when increased effort is being made to expand the portfolio of Plexus POS-GRIP based products
...........................................................................................................................

24 Mar Numis 352.00 Buy

According to the DECC, out of the more than 11,000 wells that have been drilled offshore UK, 5,000 remain active.

These wells along with those in other parts of the North Sea, and around the world will have to be abandoned in a responsible manner once they have reached the end of their lives. So Plexus Holdings has plenty to go for!

Read more at http://tinyurl.com/ornk2d9

New Product Win POS-SET Connector - Centrica
RNS
RNS Number : 3961I
Plexus Holdings Plc
25 March 2015



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

25 March 2015



Plexus Holdings PLC ('Plexus' or 'the Company')

New Plexus POS-GRIP® Product - First Order from Centrica for

POS-SET Connector™ for the Growing Abandonment Market



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce a purchase order ('PO') to supply and rent its new product POS-SET Connector™ utilising POS-GRIP friction grip engineering, which is to be used by Centrica Energy Exploration and Production ('Centrica') for abandonment operations on a gas well originally drilled 32 years ago in 1982 offshore Holland. This represents Plexus' first PO secured for the lucrative abandonment market, which the Directors believe has significant growth potential as a large number of ageing wells reach the end of their life in the North Sea and other regions and could become an important new revenue stream for the Company. The total value of the contract including engineering and testing work undertaken by Plexus is estimated at £0.8 million. Revenues are expected to commence in March 2015.



The proprietary POS-SET Connector has been developed and qualified to enable operators to re-establish a connection onto rough conductor casing that has been previously cut above the seabed to facilitate abandonment operations. Full scale testing has shown that the Plexus connector can achieve 80% of the bending and tensile strength of the parent pipe, which is significantly better than conventional alternatives. The POS-SET product can also be used on a number of applications in addition to abandonment including subsea completion operations using Subsea Tie Back Wellhead and Surface Wellhead Tie Back Platform Completion.



The POS-SET Connector was initially developed and successfully tested for Wintershall Holland. The PO with Centrica will be the first time the equipment will be installed out in the field in an abandonment application. Centrica will utilise a Plexus POS-SET Connector which has been designed specifically to be compatible with the 30 x 0.5" conductor originally used to drill the well and which has since been cut off above the sea bed. Plexus has a long standing relationship with Centrica having provided the operator with equipment for use on a number of exploration and appraisal wells in the North Sea, including the recent Grove Infill and Pegasus West wells.



Plexus CEO Ben van Bilderbeek said, "This latest order with Centrica represents another major milestone for Plexus, as it sees us enter a new and growing abandonment market where regulation is increasingly focused on the best available equipment solutions. According to the DECC, out of the plus 11,000 wells that have been drilled offshore UK, 5,000 remain active. These wells along with those in other parts of the North Sea, and around the world will have to be abandoned in a responsible manner once they have reached the end of their lives. With regulatory scrutiny on decommissioning and abandonment practices on the rise, we are confident that POS-SET offers operators similar performance, safety and cost benefits that our core POS-GRIP wellhead equipment has delivered on over 350 wells drilled worldwide. As a result, we believe this contract with Centrica has the potential to be the first of many and that POS-SET is well placed to secure a large share of this growing market.



"It has always been our strategy to first prove the superiority of our POS-GRIP friction grip method of engineering based equipment in the most extreme operating environments, and having established Plexus as the dominant supplier in the HP/HT market in the North Sea, we have done just that. Our next objective is to build on this proven capability and expand both geographically and in terms of applications for our game changing POS-GRIP technology. POS-SET is the latest member of the POS-GRIP family of equipment to enter the market but it will not be the last. With the Tie-Back Connector and the Subsea JIP both at advanced stages of development, this is an exciting time as we continue to pursue our strategy of building Plexus into a leading oil and gas engineering company offering best in class equipment and services around the world. In anticipation of further such exciting product developments over the coming years, and as we begin to utilise the significant design and development engineering skills that we have harvested as part of our HGSS subsea JIP, we have recently incorporated a new subsidiary - Plexus Applied Technologies Limited."



**ENDS**

Framework Agreement Signed with Jereh
RNS
RNS Number : 5004I
Plexus Holdings Plc
26 March 2015



Plexus Holdings plc ('Plexus' or 'the Company')

Framework Agreement Signed in Beijing with Yantai Jereh Oilfield Services Group Co., Ltd.



Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce that it has entered into a Framework Agreement ('the Agreement') with Yantai Jereh Oilfield Services Group Co., Ltd. ('Jereh'), the major Chinese oil services provider of integrated solutions of oilfield equipment and services, and the two parties will now work together to formalise a binding license agreement to enable Jereh to manufacture and sell Plexus' wellhead equipment to the Chinese and wider Asian oil and gas markets. Jereh is a public company listed on the Shenzhen stock exchange with a market capitalisation of over US $5.8bn and 5,000 employees.



The Agreement remains subject to legally binding agreements ("Binding Agreements") being finalised and signed. It is envisaged that the Binding Agreements will include the following terms:



· Plexus will grant to Jereh an exclusive licence in China and other designated Asian territories to enable Jereh to manufacture and supply Plexus' products utilising Plexus' trademarks, patents, technology, know-how, engineering, standards and other intellectual property and technical services of Plexus.

· Jereh (or a wholly-owned affiliate of Jereh) will subscribe for new ordinary shares in the Company (the "Subscription"), such that Jereh would be interested in 5 per cent. of the enlarged issued share capital of Plexus, at a price of 180 pence per share (this being a premium to the price at the time the parties commenced discussions regarding the proposed licencing licensing agreement); and for a period of twelve months from the date of issue of the new ordinary shares pursuant to the Subscription, will retain the right to subscribe for further new ordinary shares in the Company such that Jereh would become interested in 10 per cent. of the enlarged share capital of Plexus at a price the lower of: (i) 200 pence per share (this being a premium to the price at the time the parties commenced discussions regarding the proposed licencing agreement); and (ii) the closing price on the date on which Jereh notifies the Company of its intention to exercise the option.

· Jereh would have the right to appoint a non-executive director to the board of Plexus, subject to regulatory requirements.



Completion of the proposed transaction requires, inter alia, additional due diligence to be carried out by both parties and remains subject to further negotiation and final documentation (including the subscription agreement and technology licence agreement).



The signing ceremony and announcement was jointly made by Kunxiao Wang, President and Co-founder of Jereh, and Ben van Bilderbeek, the inventor of POS-GRIPtechnology, CEO and founder of Plexus at the 15th China International Petroleum & Petrochemical Technology & Equipment Exhibition 2015 ('CIPPE') in Beijing, which runs from the 26th to 28th of March ('Beijing Oil Show').Jereh is currently exhibiting at the Beijing Oil Show, and as part of the initial collaboration between Jereh and Plexus, the Plexus wellhead R&D Model 13 ½ 10M POS-GRIP Exploration Wellhead System, with stand and tensioners, has been shipped from Plexus Malaysia and is being jointly displayed on the Jereh stand. The Beijing Oil Show extends over 90,000 sq. metres and attracts 1,800 exhibitors from 65 countries and regions, 16 international pavilions and 65,000 professional visitors.



Plexus' CEO Ben Van Bilderbeek said, "I am delighted that Plexus and Jereh have entered into the Agreement which we hope will enable us to bring Plexus' POS-GRIP technology to the important and growing Chinese market and other relevant Asian territories. We view China and Asia as one of the key global market opportunities for Plexus, and we believe that our POS-GRIP wellhead equipment will deliver operational time savings and safety benefits to the oil & gas companies operating in the region, many of whom will be facing high pressure/high temperature ('HP/HT') conditions which POS-GRIP technology is uniquely suitable for, and which has resulted in Plexus supplying wellhead equipment for the majority of HP/HT jack-up wells in the North Sea region.



"The progress we have made to date in our discussions with Jereh is an example of how Plexus continues to extend its geographic reach and we are continuing to see new enquiries from across the globe from operators that are considering POS-GRIP technology. Such progress, and the growing support of our existing and new customers is centred around the principal that we can ensure long-term safety over the lifetime of a production well and beyond. We offer the only wellhead design that can provide a convenient releasable engagement of the casing hanger to the wellhead bore, instantly providing a metal interface seal, which is based on the same principles and performance as those employed in premium couplings design. This remotely delivered and calibrated force eradicates destructive seal movement, and protects seal integrity.



"Plexus has already supplied Shell China with HP/HT POS-GRIP wellhead equipment for an exploration well offshore Hainan Island and we hope to increase our activity in this region. I would like to extend my appreciation to Chairman Sun for the way Jereh and his team have conducted these discussions, and I look forward to finalising the definitive agreements, and working with Jereh over the coming years."



Kunxiao Wang, President and Co-founder of Jereh said, "We are pleased to announce this alliance with Plexus, which can be a milestone for Jereh entering into the subsea market. Plexus provides unique wellhead system technologies with a strong commitment to make the oil and gas industry much safer and efficient. We are glad to be able to work with such an outstanding partner. By integrating Plexus patented technology and Jereh manufacturing and marketing capabilities, we believe the alliance will create significant influence in the offshore and subsea field and create compelling benefits for customers around the world."





**ENDS**

Plexus Holdings shares gain on China deal with Jereh

By Andrew Neil

March 26 2015, 9:28am
Shares in oil and gas engineering firm Plexus Holdings (LON:POS) raced ahead as investors reacted to a China sales deal. The Aberdeen-based business has signed a deal with Shenzhen-listed oil equipment giant Jereh, which allows the company to manufacture and sell Plexus’ wellhead kit throughout Asia.
Shares in oil and gas engineering firm Plexus Holdings (LON:POS) raced ahead as investors reacted to a China sales deal. The Aberdeen-based business has signed a deal with Shenzhen-listed oil equipment giant Jereh, which allows the company to manufacture and sell Plexus’ wellhead kit throughout Asia.


Shares in oil and gas engineering firm Plexus Holdings (LON:POS) raced ahead as investors reacted to a China sales deal.

The Aberdeen-based business has signed an agreement with Shenzhen-listed oil equipment giant Jereh, which allows the company to manufacture and sell Plexus’ wellhead kit throughout Asia.

Plexus is known for its proprietary POS-GRIP friction grip technology, which is designed to improve safety, particularly for challenging high pressure/high temperature wells.

On Tuesday it unveiled a 28% increase in first-half profits to £1.97mln. Despite the lower oil price, the company demonstrated its confidence in the future by approving a 6.3% increase in the interim dividend of 0.51p per share.

As part of the Jereh agreement, the Chinese business is taking a 5% stake in Plexus, paying a price of 180p a share (this being a premium to the price at the time the parties commenced discussions). It also has the option to take its stake up to 10% in 12 months’ time.

"I am delighted that Plexus and Jereh have entered into the Agreement which we hope will enable us to bring Plexus' POS-GRIP technology to the important and growing Chinese market and other relevant Asian territories,” said Plexus' chief Ben Van Bilderbeek.

Shares climbed 9% to 220p.

Plexus Holdings featured in our weekly round-up of announcements from AIM, see more at http://tinyurl.com/proj74c

Plexus Holdings has secured its first contract with Cardon IV. for the supply of mudline suspension equipment services for a development well offshore Venezuela. The value of the order, is estimated at US$0.8 million.

More at http://tinyurl.com/pdqxp8d

USD0.8M Contract Win - Cardon IV S.America
RNS
RNS Number : 5036K
Plexus Holdings Plc
17 April 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

17 April 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

Plexus Expands into South America - US$0.8m POS-GRIP Rental Contract Win from New Customer Cardon IV in Venezuela



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, has secured its first contract with Cardon IV, a gas licence granted by the Ministry of Petroleum and Mines of Venezuela to eni Venezuela B.V and Repsol Venezuela Gas, S.A., for the supply of mudline suspension equipment services for a development well offshore Venezuela. The value of the order, which sees Plexus increase its geographic reach into the South American market, is estimated at US$0.8 million with revenues being generated from April 2015 onwards.



Under the terms of the contract, Plexus will supply its Tersus™ TRT mudline suspension system for a well on the Perla gas field offshore Venezuela. Plexus' system was selected due to the fast response delivery time offered by Plexus under a new manufacturing initiative, whereby raw material is held to allow immediate manufacture.



The contract is initially for one well with an option for this to be extended for use on a second. This initial order also opens up production development opportunities in the future.



Plexus' CEO Ben Van Bilderbeek said, "Venezuela is one of the biggest producers of oil and gas both regionally and globally, and we are therefore delighted to have secured our first contract to supply our best in class wellhead equipment in this important hydrocarbon producing country. In addition we are delighted to announce our first contract win in South America which now sees our geographic reach span five continents including Europe, Asia, Oceania and Africa. Winning orders in new territories is a key part of our growth strategy. We have already established Plexus as the go-to provider of wellhead equipment for high pressure/high temperature wells particularly in the North Sea market. Having proven the superiority of our equipment in what is one of the most challenging operating conditions in the world, we are focused on replicating this success, as this latest contract demonstrates, at the global level, as we look to build Plexus into a leading global oil and services company."



**ENDS**

Another significant contract award for Plexus from Premier Oil Norge AS.

New research note at http://tinyurl.com/n7fdz2w

GBP1M POS-GRIP Well Contract Premier Oil Norge
RNS
RNS Number : 2774M
Plexus Holdings Plc
06 May 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

6 May 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

New £1m contract with Premier Oil Norge AS for POS-GRIP® wellhead technology



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, has received an order from Premier Oil Norge AS ('Premier Oil Norge'), a leading FTSE 250 focused oil and gas company, to supply its POS-GRIP wellhead system for an exploration well in the Norwegian Central North Sea. The well order is estimated at £1 million with revenues commencing in August 2015.



Under the terms of the contract, Plexus will supply its 18-3/4" POS-GRIP surface wellhead and mudline equipment to Premier Oil Norge for the Myrhauk standard pressure well. The contract marks a repeat client purchase and builds upon a long standing relationship between the parties, with Plexus having first supplied its wellhead equipment to Premier Oil Norge in 2010.



Plexus' CEO Ben Van Bilderbeek said, "As exploration and extraction of oil and gas moves deeper and becomes ever more complex, innovative, safe and effective wellhead technology is becoming increasingly critical across all pressure spectrums. With this in mind we are delighted to report a further contract win for the supply of our best in class POS-GRIP wellhead equipment as our technology continues to gain traction with leading international oil and gas majors. We view this as being testament to Plexus' leadership of the North Sea HP/HT jack-up drilling exploration market, and is the benchmark we have set ourselves for other geographies, and in particular Asia as we look to build Plexus into a leading global oil and gas services provider."



**ENDS**

Plexus Holdings has announced an additional purchase order with Maersk Oil’s Danish business unit to supply its wellhead system and mudline services.

New research note at http://tinyurl.com/nlem3ut

Contract Win Maersk Oil - GBP1.25M
RNS
RNS Number : 5578M
Plexus Holdings Plc
08 May 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

8 May 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

Third Well Order with Maersk Oil for £1.25M



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce it has secured an additional purchase order with Maersk Oil's Danish business unit to supply its wellhead system and mudline services for a well offshore in the Danish sector of the North Sea. The value of the order is estimated at approximately £1.25 million with revenues commencing in May 2015.



Under the terms of the contract, Plexus will supply its 18-3/4" POS-GRIP surface wellhead and mudline systems for use on the well. This latest order is the third under a contract signed with Maersk Oil and announced on 12 February 2014.



Plexus' CEO Ben Van Bilderbeek said, "We are delighted to have secured an additional order from Maersk Oil's Danish business unit, our third in a little over a year. In our view, winning repeat business from existing customers reflects the operational and safety benefits our proprietary POS-GRIP based wellhead equipment offers. In addition our technology delivers time and cost savings, a major consideration for operators during the current period of heightened oil price volatility. Plexus' equipment therefore allows operators to accommodate the twin pressures facing the industry today, namely increased regulatory oversight and tighter management of costs.



"This is an attractive combination, one which we believe puts us in a strong position to build on the success we have had to date, whereby our equipment has been used in over 350 wells worldwide, and already has a dominant share of the HP/HT North Sea market."



**ENDS**

GBP3.3M Total Contract Win
RNS
RNS Number : 1043Q
Plexus Holdings Plc
15 June 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

15 June 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

£3.3m POS-GRIP Wellhead Supply Contract signed with New Customer Total for Ultra High Pressure/ High Temperature Solaris Well Offshore Norway



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that it has secured a new customer via a £3.3 million contract win with oil and gas major, Total E&P Norge AS ('Total'), to supply its POS-GRIP wellhead systems, associated equipment and mudline services for Total's Ultra High Pressure/High Temperature ('X-HP/HT') Solaris gas exploration well in the Graben area of the North Sea, offshore Norway. Revenues for the contract are scheduled to commence in October 2015. This contract win is in line with Plexus' strategy to increase its global presence as a leading supplier of best in class wellhead equipment in terms of performance, reliability and safety for exploration, production and subsea activities.



Notably Plexus was identified as the most suitable candidate for this project due to the unique adjustable nature of its wellhead systems. Plexus' wellhead systems can safely operate through the BOP within X-HP/HT conditions estimated at up to 17,000 - 19,000 psi maximum well pressure, whilst supporting casing at the ocean floor on its proprietary mudline hanger system. Solaris is located close to BG Norge's Mandarin East well, which is also known for its extreme high pressure conditions and initial data suggests that Solaris may be the highest pressure well in the North Sea to date. Under the terms of the contract, Plexus will supply its 18-3/4" XHP/HT POS-GRIP Jack-up drilling system.



Plexus' CEO Ben Van Bilderbeek said, "This contract confirms that even during challenging times, operators focus on the best and safest solutions, when conditions demand it. Plexus provides the superior solutions for jack-up drilling operations, because our technology combines the high pressure metal to metal sealing, with the ability to leave the Blowout Preventers (BOPs) on the well throughout the drilling programme. As exploring and extraction of gas goes deeper, is more complex and must be conducted in delicate environments; innovative, safe and effective wellhead technology becomes ever more important. Safety is in the detail and particularly wellheads cannot afford to be the weak link in the system and for this reason Plexus seeks to use unique metal seal technology which matches the integrity of casing couplings.



"Our Plexus team is proud to have been selected on this well, which is designed to cope with some of the highest pressures ever drilled in the Norwegian part of the North Sea. We are also delighted to be working with Total as a new client on this drilling project. Further, Total through one of its research groups, has worked with Plexus over the past four years on the development of a new generation subsea wellhead system, under the auspices of the "Python" Joint Industry Project ('JIP'). The Python JIP is sponsored by a number of major operating companies and will be launched at the Aberdeen Offshore Europe Oil show ('OE2015') in September 2015."



**ENDS**

Python Subsea Wellhead Launch Update
RNS
RNS Number : 7769Q
Plexus Holdings Plc
22 June 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

22 June 2015

Plexus Holdings PLC ('Plexus' or 'the Company')



Plexus announces product launch date for POS-GRIP Python® Subsea Wellhead



Joint Industry Project supported by BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, eni, Senergy, and Oil States Industries Inc.



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that it will launch its new POS-GRIP Python Subsea Wellhead ('Python Subsea Wellhead') during Europe's biggest Oil and Gas trade show, 'SPE Offshore Europe', on 8 September 2015. The new Python Subsea Wellhead, previously referred to as the "HGSS" Wellhead, has been designed to address key technical issues and requirements highlighted by regulators following the Gulf of Mexico incident in April 2010 and to achieve a new best in class standard for subsea wellheads that can for the first time match those of premium couplings.



The Python Subsea Wellhead has been under development since 2011 within a Joint Industry Project ('JIP') supported by major oil and gas operators and service company consulting partners, including BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, eni, Senergy, and Oil States Industries Inc. Entering the global subsea market is a key part of Plexus' management's strategy to expand the Company's suite of POS-GRIP wellhead equipment into larger fast growing markets. Subsea exploration and production has grown rapidly since 2000 in terms of total expenditure from US$7billion to approximately US$45billion in 2014. According to a report by Rystad Energy in May 2014 this strong growth is expected to continue, with subsea expenditure forecast to grow by an annual rate of 15%, to US$115 billion by 2020.



In terms of Python's development, Plexus has recently achieved several additional technical milestones in the qualification and testing of the new system, and will have a full prototype system on display at SPE Offshore Europe in Aberdeen in September 2015. At the launch, Plexus expects to be able to announce further details of the enhanced safety and cost saving features of the Python Subsea Wellhead, as well as positive results of qualification testing, to standards which significantly exceed conventional industry requirements. Plexus anticipates the Python Subsea Wellhead will be ready for offshore deployment in a trial well during 2016.



Plexus' CEO Ben Van Bilderbeek said, "I am delighted that the Python Subsea Wellhead system will be launched at the September SPE Offshore Europe Aberdeen oil show. Personally for me this is a forty four year dream come true. In June 1971 I started my career with Vetco in Ventura California as a service engineer installing some of the earliest subsea wellhead systems on projects around the world. Now it gives me great pleasure to be part of the team that has designed and delivered a new class of subsea wellhead which we believe will raise subsea wellhead standards to a best in class level not considered possible in the past.



"The Plexus engineers who have worked tirelessly over the past four years are to be commended for their engineering ingenuity and perseverance, and the JIP member representatives who have taken part in the design process of the Python subsea wellhead system are also highly deserving of our gratitude for their invaluable contribution to the project.



"The Python Subsea Wellhead system is designed to deliver true and verifiable metal to metal sealing capability in ultra deep-water, and is also aimed at simplifying installation procedures to such an extent that numerous installation trips are eliminated to render the system effective cost negative. I am very proud of our achievement and I look forward to help promote this ground-breaking technology, as it moves from prototype to product."





**ENDS**

Sale of Non-Core Investment for GBP1.5million
RNS
RNS Number : 2946R
Plexus Holdings Plc
26 June 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

26 June 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

Sale of Non-Core Investment for £1.5million



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that its wholly owned subsidiary Afrotel Corporation Ltd ('Afrotel') has divested its sole asset, consisting of a 25% shareholding interest in KSW Engineering Limited ('KSW'), a private UK oil and gas equipment manufacturing and engineering company. The consideration for the sale to KSW is £1.5 million in cash which will be deployed as part of Plexus' global expansion strategy of identifying new international manufacturing partners for its suite of POS-GRIP wellhead products for oil and gas exploration, production and in due course subsea applications.



The Company acquired its interest in Afrotel in July 2013 for a consideration of £725,000 and the investment in KSW generated £215,000 of profit share for Plexus in the eleven months to 30 June 2014 and was valued at £941,000 as at that date. Since then, and up to the date of disposal of the investment, the Company has recorded an unaudited share of profit in line with the prior year.



Plexus' CEO Ben Van Bilderbeek said, "As Plexus continues to extend its geographic reach and product range, we continue to see new enquiries from across the globe from operators that are considering POS-GRIP technology for its unique technical, safety and time saving capabilities. In tandem with positioning Plexus as the supplier of choice in the high pressure high temperature ('HP/HT') exploration market in the North Sea, we are working hard to move our products into new operating regions such as Asia, Australia, China, Russia, and West Africa. The need to align Plexus with alternative lower cost manufacturing capacity for POS-GRIP applications to be sold to our customers, is the primary driver behind the divestment of our 25% shareholding interest in the private UK engineering company.



"In addition to increasing Plexus' global footprint, we remain committed to POS-GRIP product innovation. To this end we will be launching our new Python® Subsea Wellhead in Aberdeen at the Offshore Europe 2015 show this September, which has been designed to achieve a new best in class standard for subsea wellheads, as well as addressing key technical issues as highlighted by regulators following the Gulf of Mexico incident in April 2010. We look forward to updating the market on all of these latest developments in the coming months as we look to broaden our Company offering and increase shareholder value."



**ENDS**

Licence agreement

Shares today - Plexus is ready to soar, small cap oil services play primed for major re-rating with wellhead technology.

China Expansion - Agreement with COSL, RST & Jereh
RNS
RNS Number : 1996S
Plexus Holdings Plc
06 July 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

6 July 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

China Expansion - Collaboration Agreement with China Oilfield Services, Red Sea Technologies and Yantai Jereh Oilfield Services Group for Shallow Water Subsea and Crossover Wellhead Production Systems in China



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces a collaboration agreement with China Oilfield Services Limited ('COSL') a major integrated oilfield service solution provider which is majority owned by Chinese state owned company CNOOC Group (the largest producer of offshore crude oil and natural gas in China), Red Sea Technologies Ltd ('RST'), a leading oilfield design and services company in South East Asia, and Plexus' Chinese licensing partner Yantai Jereh Oilfield Services Group ('Jereh'), a US$6.9bn oil services provider (see announcement 2 July 2015). The collaboration agreement will explore commercial opportunities for shallow water subsea and crossover wellhead production systems for oil and gas field activities in China, and is in line with Plexus' global strategy to expand its best in class POS-GRIP wellhead equipment in markets which offer significant growth opportunities.



Plexus and Jereh will combine the POS-GRIP method of engineering known for its safety, performance and reliability capabilities and Jereh's first class manufacturing and sales and marketing skills, to work alongside COSL and RST to collaborate on the design, development, manufacture, supply, installation and provision of aftermarket services for the significant Chinese shallow subsea systems and crossover wellhead production systems market.



Plexus' CEO Ben Van Bilderbeek said, "We are delighted to have signed this significant collaboration agreement with COSL, RST and our new Chinese licensing partner Jereh, which will see us strengthen our reach in the Chinese oil and gas wellhead services market where we see exponential growth potential over the coming years. Demonstrating our commitment to building our presence in the exciting Chinese market, we are equally delighted to have announced the signing of our licence agreement with Jereh who are also part of this collaboration agreement.



"In addition to actively building on our existing position in the Asian region following the establishment of our Malaysian and Singaporean hubs and our major licence agreement with Jereh, we are pleased to continue to build upon our reputation of delivering a new standard of wellhead products with key global strategic partners. This latest collaboration agreement is another significant milestone in this journey, and Jereh and Plexus look forward to designing and manufacturing a range of innovative shallow water oil and gas equipment solutions for the Chinese market where COSL has the largest fleet of offshore oilfield services facilities in China. Whilst we predominantly supply into the jack-up exploration arena we remain committed to POS-GRIP product innovation and as such are focused on making significant inroads into the volume production and subsea markets. We look forward to working with COSL, RST and Jereh on this newly formed collaboration relationship and further look forward to updating shareholders on our progress."



**ENDS**

Local PETRONAS Licence Secured by Malaysian JV
RNS
RNS Number : 9208S
Plexus Holdings Plc
14 July 2015



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

14 July 2015







Plexus Holdings PLC ('Plexus' or 'the Company')

Local PETRONAS Licence Secured by Plexus' Malaysian Joint Venture Company



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce that Plexus Products (Asia) Sdn Bhd ('PPA'), the Company's joint venture ('JV') with Integrated Petroleum Services Sdn Bhd ('IPS'), has secured a local PETRONAS licence to manufacture and supply Plexus' POS-GRIP wellhead equipment in Malaysia.



IPS is a well renowned upstream support services business to the offshore oil and gas industry in Malaysia and the Asian Pacific region with in-house manufacturing capabilities and is a licensed vendor to PETRONAS. The formation of the JV was previously announced by Plexus on 13 August 2014. With this important licence obtained, PPA will benefit from the strong manufacturing, regional network and relationships of IPS as it looks to manufacture and supply Plexus POS-GRIP rental exploration and production wellhead equipment to the Malaysian market.



The Plexus Board believes that with the PETRONAS licence secured, PPA will augment Plexus' Singaporean regional HQ and services base and Plexus' recent licencing agreement with Chinese major Yantai Jereh Oilfield Services Group Co., Ltd, as it looks to expand the supply of its best in class POS-GRIP wellhead equipment in new regions such as Malaysia and Asia which offer significant growth opportunities for Plexus.



Plexus CEO Ben Van Bilderbeek said, "We are delighted to announce that our JV company PPA has been successful in obtaining a local PETRONAS licence to manufacture and supply Plexus' POS-GRIP wellhead technology into the Malaysian market. With our partner IPS being an existing licensed vendor to PETRONAS this adds significant weight to this new development, as we look to become a pivotal supplier of wellhead equipment in the region.



"Ultimately it is Plexus' vision to repeat the success we've enjoyed from our main service base in Aberdeen in the Scottish and Norwegian North Sea and EMEA markets and to build a significant Asian presence and distribution channels from which to increase our global reach.



"With the latest flurry of news flow, this is truly an exciting period for Plexus. We anticipate that this will lead to many more supply opportunities in this important market. In tandem with expanding our geographic presence for the supply of our best in class POS-GRIP wellhead solutions predominantly in our organic jack up exploration arena, we are also committed to extending our offering through new innovative product development in the surface production and subsea arenas. One such initiative is our new and safer Python™ subsea wellhead, addressing key technical issues as highlighted by regulators following the Gulf of Mexico incident in April 2010. We have developed this alongside other international oil and gas majors and are launching the product in Aberdeen at Europe's biggest Oil and Gas trade show, SPE Offshore Europe, in September 2015. We look forward to updating the market on these and further developments as we look to broaden our Company offering and increase shareholder value."



**ENDS**

It is not surprising at the moment that oil equipment and services stocks are finding little support, although there are some pockets of value appearing which could offer material upside to patient long term investors.

We considered some of the more appealing candidates, all of which possess the desired sturdy balance sheets to weather the current tough conditions.

One of these is Plexus Holdings: trading at approx. 20x earnings estimates for 2016 the shares are hardly cheap on normal measures but the Group’s brilliant technology is gaining traction and the forthcoming launch of its new POS-GRIP Python Subsea Wellhead promises a great deal. In the meantime it continues to secure contracts for its existing POS-GRIP wellhead systems.

Read more about Plexus and other companies at http://tinyurl.com/p65nfgn

Collaboration Agreement with Aquaterra
RNS
RNS Number : 3460Y
Plexus Holdings Plc
08 September 2015



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

8 September 2015







Plexus Holdings PLC ('Plexus' or 'the Company')

Collaboration Agreement with Aquaterra for New Product Launch - High Pressure/High Temperature Risers



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, announces that it has signed an agreement with Aquaterra Energy Ltd, an international energy engineering solutions company ('Aquaterra'), to jointly supply High Pressure/ High Temperature dual barrier marine risers utilising Plexus' POS-GRIP technology to provide a safer, technically superior and cost efficient solution for the use on jack up rigs, initially in the North Sea market ('the Agreement'). This Agreement is in line with Plexus' strategy to extend its POS-GRIP product reach into new and commercially attractive markets.



Under the Agreement, Plexus will provide 18-3/4" 15,000 psi jack up Wellhead systems from its existing POS-GRIP rental equipment inventory and Aquaterra will provide riser analysis, rental riser systems and associated components. Whilst marine risers exist for low pressure well applications, as well as certain bespoke heavy wall higher pressure risers, the 'Dual Barrier High Pressure Riser' will be the first in the industry for HP/HT wells. POS-GRIP Technology will be placed at the top, and potentially at the bottom of the riser to uniquely enable a casing 'inner' liner to be temporarily spaced out and installed inside a conventional riser. This will increase the pressure rating of the riser system to 15,000 psi, creating a full HP/HT capability all the way from the subsea wellhead to the surface Blow-Out Preventer ('BOP').



Plexus and Aquaterra believe its new product will have a number of technical advantages for the marine HP/HT riser market including: safe effective drilling, completion and work over activities from subsea wells from jack-up rigs; a structurally sound pressure retaining conduit between the subsea wellhead and the rig's BOP capable of withstanding environmental and operational conditions during service of life; reduced loading utlitising top tension risers; decreased opex and capex requirements; and environmental benefits as all metal to metal seals offer safety against potential leaks of contaminating fluids.



Plexus CEO Ben Van Bilderbeek said, "We are delighted to enter into this agreement with Aquaterra and working together on this exciting new product application for the commercial benefit of both parties.



"The Agreement also marks another significant milestone for Plexus' and our best in class POS-GRIP friction-grip method of wellhead engineering, as we continue to market it, not just to operators, but also to companies such as Aquaterra which recognise the unique engineering solutions that POS-GRIP can deliver for multiple applications across the global oil and gas arena. Another such example of this was our recent POS-SET Connector™ which we signed in March this year with Centrica for the growing well abandonment market.



"We believe the new Dual Barrier High Pressure Riser product has the potential to provide another significant revenue stream for Plexus and our existing exploration jack up rental POS-GRIP product which we already deploy for blue-chip companies for oil and gas exploration drilling globally. We also believe this alliance could help us gain traction in the lucrative workover and decommissioning well markets, an area that Plexus has yet to reach out to. With these developments in mind, we look forward to updating the market in due course as we continue to build a leading international oil and gas wellhead engineering company, supplying the best in class and safest wellhead equipment across exploration, production and subsea applications."



**ENDS**

Python Subsea Wellhead Launch
RNS
RNS Number : 4046Y
Plexus Holdings Plc
08 September 2015





Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

8 September 2015

Plexus Holdings PLC ('Plexus' or 'the Company')

Launches POS-GRIP® Python® Subsea Wellhead



Joint Industry Project supported by BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, eni, Senergy, and Oil States Industries Inc.



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP friction-grip method of wellhead engineering, announces that it has launched the POS-GRIP Python Subsea Wellhead ('Python') at a launch ceremony attended by Fergus Ewing, the Scottish Minister for Business, Energy and Tourism at Europe's biggest oil and gas trade show, 'SPE Offshore Europe 2015' in Aberdeen. The new Python Subsea Wellhead, which has been under development since 2011 within a Joint Industry Project supported by companies including BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, eni, Senergy, and Oil States Industries Inc., has been launched to achieve a new best in class and safest standard for subsea wellheads, following the Gulf of Mexico incident in April 2010.



The Python Subsea wellhead has been engineered to be simple, and yet offering a range of unique and superior technologically advanced features with increased safety, reduced cost and operational efficiency capabilities. The patented POS-GRIP friction grip method of engineering offers 'instant casing hanger lockdown' and is used to secure hangers with "HG" Seals which provide direct, metal to metal, weld quality, high integrity sealing. Many conventional components used in competing conventional subsea wellhead designs such as lock rings and wear bushings are eliminated, resulting in enhanced reliability and fewer installation trips.



The Python launch also coincides with the successful completion of the key performance verification tests for the system. Plexus have previously announced the completion of industry standard API 6A Annex F testing on Python, but can now announce that full system testing was also conducted to replicate real world field conditions and testing all of the components within the system working together which allowed the mapping of a safe "performance envelope" rather than just single performance points for some of the components. Plexus tested the system at "worst case tolerance stack-up" between the components, proving that the system works with any selection of individual components, which is something not yet considered in best industry standards or for conventional equipment.



Today's formal launch marks the first commercial availability of our POS-GRIP enabled subsea wellhead system, and Plexus is confident that Python will be ready for offshore deployment in a trial well during 2016.



The Scottish Minister for Business, Energy and Tourism Mr. Fergus Ewing said, "This new technology will allow oil and gas companies around the world to increase the safety and reliability of their operations and it is a great testament to the skills and knowledge of Ben Van Bilderbeek and his team that the partners in the Joint Industry Project have developed this new system under the leadership of Plexus.



"At a time when the industry is facing greater challenges, innovations that can improve reliability and safety while helping to reduce costs are very much to be welcomed. As one of the major players in the Scottish oil and gas sector, it is very encouraging to see Plexus continue to innovate and create revolutionary new products that will have an effect on the sector around the world. I wish Plexus every success with the new Python Wellhead System for the future."



Plexus' CEO Ben Van Bilderbeek said, "I want to thank the honourable Fergus Ewing, our Scottish Minister for Industry, for taking the time to help us introduce the first proprietary 'Subsea Wellhead System' designed and developed in Scotland. Today for me is the culmination of a career that started in Ventura California in 1971, 45 years ago, and now I stand at the cusp of my ambitions, which grew into a passion to deliver the 'best and safest' wellhead technology money can buy.


"Our ultimate goal, which now adds subsea wellheads to the 'best in class' jack-up drilling system we supply around the world, is really quite simple to articulate. For as long as oil and gas wells have been drilled, wellheads were allowed to be qualified to standard much below the quality expected from the well casing reaching deep into the ground. The weak 'wellhead' link, over time became the unavoidable norm, which we at Plexus were never comfortable with. The idea that the last connection in a well, in terms of qualification would be of a lesser standard than other connections in the system, seemed to defy logic!



"Following the Gulf of Mexico offshore incident in April 2010, Plexus was asked by a leading group of operators to focus on the challenges presented by deep-water subsea drilling, high pressure and high temperature environments and most importantly Arctic drilling operations, where delicate environmental conditions demand the best and safest solutions.



"I am therefore pleased to unveil the Python Subsea Wellhead system, which has been the results of almost four years of research, development and engineering.



"I am very proud to be part of the Plexus team, who put their trust in me as much as I have in them, because I can assure you that many have spoken of the folly of challenging convention, against the might of internationally renowned competitors.


"There is much more to come from Plexus in terms of product development, which we can now bring to a very much wider market, and importantly with the help of our new trading partner in Jereh of Yantai, from China."



**ENDS**

Final Results
RNS
RNS Number : 6344D
Plexus Holdings Plc
28 October 2015



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

l 28 October 2015

Plexus Holdings plc ('Plexus' or 'the Group')

Preliminary Results for the year to 30 June 2015



Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, announces its preliminary results for the year ending 30 June 2015.



Financial Results

· Record revenue, EBITDA, profit before tax and profit after tax

· 18.8% increase in profit after tax to £5.43m (2014: £4.57m as restated)

· 5.6% increase in revenue to £28.53m (2014: £27.02m)

· 5.7% increase in EBITDA to £9.53m (2014: £9.02m)

· 10.5% increase in profit before tax to £5.94m (2014: £5.38m)

· 17.5% increase in basic earnings per share to 6.40p (2014: 5.44p as restated)

· 182.3% proposed increase in final dividend to 1.75p per share (2014: 0.62p)



Operational Highlights

· Strong financial performance driven by core business of renting proprietary POS-GRIP® friction-grip exploration wellhead equipment particularly for High Pressure/High Temperature ('HP/HT') applications, resulting in repeat business and the winning of new major international oil and gas customers in new territories around the world

- Contracts secured include: £0.6m from Centrica for North Sea; £0.9m from Det Norske Oljeselskap ASA in Norway; significant contract from BG Group for North Sea; £1.9m order from undisclosed customer for North Sea; £1.5m from Brunei Shell in Brunei; USD$0.8m from new customer Cardon IV in Venezuela; £1.0m from Premier Oil Norge AS for North Sea; £1.25m Maersk for North Sea; and £3.3m from new customer Total offshore Norway for an Ultra-HP/HT exploration well which is potentially the highest pressure well ever drilled in the North Sea

· Acceleration of planned international expansion through strategic initiatives:

- First major licence agreement signed post period end with major Yantai Jereh Oilfield Services Group Co., Ltd ('Jereh') in China to facilitate the rental, sale, and manufacture of Plexus' wellhead equipment to supply the major Chinese, wider Asian, Brazil, Indian and Middle East oil and gas markets

- Formation of a new Malaysian company Plexus Products (Asia) Sdn Bhd ('PPA') in conjunction with a local Malaysian oil and gas partner, Integrated Petroleum Services Sdn Bhd ('IPS') to create a fully operational Plexus Asian business hub to increase the supply of POS-GRIP wellhead equipment and services to the Australian, Brunei, Indonesian, Malaysian, Thai, and Singaporean oil and gas exploration and production markets

- Secured a local Petronas licence post period end to manufacture and supply Plexus' POS-GRIP wellhead equipment in Malaysia through PPA

· Disposal of non-core investment interest in a private UK oil and gas equipment manufacturing and engineering company for £1.5m as Plexus focuses on its global expansion strategy of identifying new international manufacturing partners

· Significant strategic progress made in relation to research and development and new product innovation:

- Launched new PythonTM Subsea Wellhead post period end as a new best in class and safest standard for subsea wellheads - supported by BG, Royal Dutch Shell, Wintershall, Maersk, Total, Tullow Oil, eni, Senergy, and Oil States Industries Inc

- Signed £0.8m agreement with Centrica for new POS-SET™ Connector ('POS-SET') product for the growing de-commissioning and abandonment market

- Collaboration with Aquaterra post period end to develop HP/HT dual marine risers to provide a safer, technically superior and cost efficient solution for use on jack-up rigs

- HP/HT Tie-Back connector product and its unique operational and cost saving advantages now beginning to be marketed to the industry

- Capital investment in additional POS-GRIP rental wellhead assets for exploration was £2.53m, consistent with the prior year's level (2014: £2.32m)

- Research and Development ('R&D') spend, excluding cost of building test fixtures, increased by 46.7% to £3.47m (2014: £2.37m)

Corporate Highlights

· Growing global awareness of both Plexus and the safety and operational benefits of POS-GRIP technology among international oil and gas companies, not only in relation to organic exploration drilling activities, but also to production and subsea applications

- Alongside the first major licencing agreement with Jereh a share subscription agreement was entered into with Jereh International (Hong Kong) Co. Ltd which subscribed in July post period end for 5% of the issued share capital of Plexus for a consideration of £8.04m

- Size of Aberdeen operational headquarters doubled with the acquisition in September 2014 of a circa 36,000 sq.ft work shop and office facility from Baker Hughes for £2.4m

- Presented on its POS-GRIP metal sealing in September 2014 at the "World Oil HP/HT Drilling and Completions Conference" in Houston, Texas, and in London at the Oil and Gas iQ "HP/HT Wells Summit 2014" and 2015 regarding pioneering techniques and technology in HP/HT drilling and completions

- Won the "Commitment to Innovative Use of Research and Development" award at the 11th annual Northern Star Business Awards 2014, the flagship event for the Aberdeen & Grampian Chamber of Commerce in recognition of Plexus' long standing commitment to R&D

· Strengthened Board with the appointment of Charles Jones as a non-executive director - with over 30 years of experience in the US energy sector he will advise and assist in building relationships in the important US wellhead equipment market

· Bank facilities renewed post period end with Bank of Scotland, comprising an existing £5m revolving credit facility on a three year term with an additional £1m overdraft on a yearly term in October 2015 - also a five year £1.5m term loan was put in place in September 2014 to part fund the purchase of the additional Aberdeen facility

· Proposing a 182.3% increased final dividend of 1.75p per share (2014: 0.62p), which will be subject to shareholder approval at the Annual General Meeting ('AGM') to be held on 10 December 2015 - this follows on from the 6.3% increase in the interim dividend (to 0.51p) making a total dividend for the financial year of 2.26p per share. If approved the final dividend will be paid on 16 December 2015 to all members appearing on the register of members on the record date 6 November 2015. The ex-dividend date for the shares is 5 November 2015

MIDAS-SHARE-UPDATE-Oil-price-slump-hits-Plexus-need-seals-make-wells-safer-grow.

AGM statement

plexus-holdings-boosted-by-ninth-det-norske-order-

AGM Statement
RNS
RNS Number : 2330R
Plexus Holdings Plc
08 December 2016
 
 
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services
8 December 2016
 
 
 
Plexus Holdings PLC ('Plexus' or 'the Company')
AGM Statement
 
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, will hold its Annual General Meeting ('AGM') today. At the AGM Jerome Jeffrey Thrall, Chairman, will make the following statement:
 
"Plexus is an IP led oil and gas engineering company which supplies blue chip operators such as eni, Maersk, Royal Dutch Shell, Statoil, and Total with best in class wellhead equipment.  To date over 400 exploration wells have been successfully drilled around the world using our equipment which, thanks to our POS-GRIP technology, a patent protected friction-grip method of engineering, is superior to conventional wellheads in terms of performance, reliability and safety. 
 
"In recent years and from a standing start, Plexus has taken market share from larger multi-national competitors and become established as the dominant supplier to the HP/HT market in the North Sea.  Additionally, it has won orders to supply wells operating in some of the most inhospitable and challenging environments, most notably Total's ultra-HPHT Solaris well, offshore Norway, which is believed to be the highest pressure and temperature well to have ever been drilled in the North Sea. However, no matter how ground breaking our technology is and how widely it has been used in the field, we can do little in the face of the sharp retrenchment in operators' budgets that has been seen over the last two years in response to lower oil prices. The exceptional reduction in exploration activity to 60 year lows has led to significantly fewer wells drilled, which has in turn inevitably translated into lower rental orders received for our POS-GRIP enabled wellheads.
 
"After the record financial performance of the previous 12 months, 2016's full year results reflected the challenging trading conditions: a decrease in revenue to £11.23m (2015: £28.53m); an EBITDA loss of £1.56m (2015: profit £9.53m); a loss after tax of £5.79m (2015: profit £5.43m) and a basic loss per share of 6.39p (2015: 6.40p profit per share). However the financial report contained other key financial metrics which demonstrate the decisive action we took over the course of the year to help realign the business to the lower oil price environment resulting in: net cash of £9.9m (2015: net debt £2.9m); 20% reduction in personnel and infrastructure related overheads to £11.28m (2015: £14.93m), which is expected to become a 50% plus reduction in the year ahead, as the full effect of the restructuring programme materialises;  capital expenditure on tangible assets reduced to £1.96m (2015: £7.02m); and the withholding of a final dividend (2015: 1.75p per share).
 
"During the year, we raised capital near the prevailing share price, boosting our net cash position to £9.9m and adding new institutional investors, as well as our Russian licensing partner Gusar, to our shareholder register, while our R&D led IP development and inventory build-up programme, which saw circa £22m invested over the last five years, is for now largely complete. Today, Plexus owns circa 62 rental wellhead sets, which have a long working life and, if fully utilised, are estimated to be capable of supporting sales revenues of up to £40m per annum.  
 
"With no significant investment requirements going forward, we have strengthened the Group's balance sheet with the intention of being able to outlast the remainder of the cyclical downturn.  How long the downturn will last and how severe it will be of course remains the big unknown. Already in its third year these adverse trading conditions have lasted longer than many commentators and leading market players had predicted and until a sustained recovery takes hold, today's subdued levels of exploration activity and lack of revenue visibility will likely persist.  We will therefore continue to closely monitor activity levels and update the market accordingly. On a positive note a consensus seems to be forming that 2017/18 will begin to see a reversal of historically low drilling activity levels and extremely tight capex constraints by operators.
 
"The link between the macro geo political backdrop and day to day operational activity levels remains as important as ever. Although all cyclical upswings have their fair share of false dawns, and the current cycle is no exception the recent OPEC meeting at the end of November offered some much needed encouragement. It was reported that the meeting secured agreement to reduce production by 1.2m to 32.5m barrels a day from the beginning of January 2017 and initially for a period of six months. This had the effect of increasing the oil price on the day by circa 8%. Whether or not the production cut agreed by members is strictly adhered to, the major positive coming out from the group in recent months is, in our view, the noticeable change in tone and rhetoric compared to the previous two years. Yasser Elguindi of Medley Global Advisors went as far as describing the cut as pulling "a rabbit out of a hat", but cautioned that "compliance with the cuts will be what makes or breaks the deal". The recognition by OPEC members of the need to restore balance to markets and the need for a higher oil price to drive investment is a major departure from recent times and is therefore welcome news for the oil and gas industry as a whole. This stance is further reinforced by the option OPEC also put in place to extend the agreement to cut production levels until the end of 2017. The level of cooperation achieved is highlighted by the resolution of differences over production levels between Saudi Arabia, Iraq and Iran.
 
"Ironically, whilst OPEC finally agrees to cut production the International Energy Agency ('IEA') in its annual World Energy Outlook report sees "no peak yet in sight" for demand for oil.  Furthermore for the longer term the IEA also goes on to predict demand will continue to grow until at least 2040 thanks to continued growth in plastics manufacturing and the increasing use of fuel for critical modes of transport such as shipping, aviation, and trucks where greener technologies have yet to make inroads. Tim Gould head of the IEA's energy supply outlook division said that unless project approvals pick up in 2017 it is looking "increasingly unlikely that supply will be able to meet the rising demand without rapid price increases". The view that a supply crunch is in the making is also reinforced in a recent  Barclays research report where the bank's analysts forecast that with just 1.2m barrels per day of new supply coming on stream, 2019 could become the "the lowest year for new capacity" added since the 1990s.  Like the IEA, Barclays lays the blame on oil majors cutting back on conventional exploration projects to preserve cash where it was further reported that in 2015 and 2016 investment levels in conventional oil projects hit lows not seen since the 1950's. Together with the natural decline of existing fields and forecast demand growth, Barclay's estimates demand could outstrip supply by as much as 3 million barrels per day and that "2019 marks a juncture where supply becomes a concern"
 
"Needless to say, like all those operating in the sector we are keenly looking forward to when the cycle turns upwards.  However in the interim, we are doing more than just battening down the hatches and waiting for the cycle to turn.  As Plexus is IP led we are in the advantageous position of being able to pursue the global uptake of our POS-GRIP technology without having to invest significant sums of capital. For example, looking at adopting a pure licensing business model rather than an operational one, would involve us maximising licensing royalty opportunities by selling and promoting our patented method of engineering rather than renting our equipment. Such a strategy would enable us to continue to diversify our revenues away from our traditional stronghold in the North Sea to other hydrocarbon jurisdictions.
 
"We are already making progress in this direction. In 2016 we completed a licence agreement with two independent Russian oil and gas equipment manufacturers, Gusar and Konar, covering the large Russian Federation market and other CIS states. We also won our first order through our Malaysian joint venture company worth an estimated £0.9m with Talisman Energy following the award of a local licence with PETRONAS, the Malaysian National Oil Company to manufacture and supply our wellhead equipment in Malaysia. Such developments look to replicate our historic success in the North Sea. With this in mind, we are currently in discussions with a number of interested parties in other parts of the world, including the significant Middle Eastern and Indian energy markets.
 
"In conclusion while the downturn has undoubtedly significantly impacted on our progress and financial performance, and continues to do so, we are confident that once sentiment within the sector begins to recover and operators renew their appetite for exploration, Plexus will in turn regain the momentum that existed before the downturn set in.  Importantly, following the last OPEC meeting three key industry drivers are now aligned - namely a planned reduction in production levels, increasing demand for hydrocarbons, and declining mature fields. Arguably, with a strengthened balance sheet, a large wellhead inventory, an expanded suite of Plexus products, partners in strategically important territories, and a successful track record with a who's who of blue chip operators, Plexus is in a strong position to take advantage of and benefit from the next cyclical upswing."     
 
 
**ENDS**

Follow on Contract in Oman
RNS
RNS Number : 3640T
Plexus Holdings Plc
05 January 2017
 
 
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services
5 January 2017
 
 
 
 
Plexus Holdings PLC ('Plexus' or 'the Company')
Follow on Contract in Oman
 
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, has been awarded an order for a second well from Masirah Oil Limited ('Masirah'), a BVI based company majority owned by leading technology driven oil and gas company REX International Holdings Limited (REXIH: Singapore).  The new contract will see Plexus supply Masirah with its POS-GRIP Tersus Mudline equipment and 10,000psi adjustable rental exploration wellhead for the Karamah-1 exploration well offshore Oman. The estimated value of the contract to Plexus is US$285,000 with revenues expected to commence in January 2017. 
 
Karamah-1 will be drilled from the Aban VII Jackup rig and follows the successful drilling by Masirah (a new customer in a new territory) last year of the Manarah-1 well, which was drilled using Plexus' POS-GRIP wellhead equipment (see announcement of 20 January 2016 for further details).  Karamah-1 is the second of a multi-well programme which could extend to a third well, subject to the drilling results.   Drilling operations are expected to take between 20 and 30 days.  Masirah originally selected Plexus' equipment due to the safety and time savings of POS-GRIP compared to the traditional slip and seal systems, and also the enhanced safety advantages of Plexus' mudline systems and surface hangers with installation through the blow out preventer.
 
Plexus' CEO Ben Van Bilderbeek said, "This is the second order we have secured with Masirah for our cost effective and technically superior wellhead solutions. Aside from the positive impact on our revenues, it further increases our visibility in this important oil and gas region.  The Middle East is one of the few regions in the world where drilling activity has remained relatively stable during the current downturn.  As a result, it is a key area of focus for us, as we look to expand the geographic footprint of our best in class equipment.  The superior qualities of our wellheads in terms of performance, reliability and safety have no geographic boundaries, and as a result we are confident we can replicate, on a global basis, the historic success we have had in the North Sea where Plexus is firmly established as the dominant supplier of jack-up exploration wellheads."    
 
**ENDS**
 
For further information please visit www.posgrip.com or contact:
 
Ben van Bilderbeek
Plexus Holdings PLC  
Tel: 020 7795 6890
Graham Stevens
Plexus Holdings PLC
Tel: 020 7795 6890
Nick Tulloch
Cenkos Securities PLC
Tel: 0131 220 9772
Derrick Lee
Cenkos Securities PLC
Tel: 0131 220 9100
Frank Buhagiar
St Brides Partners Ltd
Tel: 020 7236 1177
Isabel de Salis
St Brides Partners Ltd
Tel: 020 7236 1177
 
NOTES:
Plexus Holdings PLC
 
Plexus Holdings PLC is an AIM traded oil and gas engineering and services business, which supplies wellhead and mudline suspension equipment together with associated equipment and services for exploration and production applications.  Based in Aberdeen, with a presence in London, Cairo, Kuala Lumpur, Singapore and Texas, it has developed and patented a friction-grip 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.
 
To date, POS-GRIP wellhead systems have been used in over 400 oil and gas wells by numerous international companies.  In particular, the technology has advantages in High Pressure/High Temperature (HPHT) and Extreme HPHT (X-HPHT) oil and gas environments, for which there is growing global demand and where Plexus is being increasingly recognised as the supplier of choice.  Plexus has recently successfully completed the supply of an X-HPHT exploration wellhead to Total for the Solaris well which is believed to be the deepest and highest pressure well ever drilled in the North Sea.
 
Plexus is also extending its technology into an increasing number of other applications:
·    In September 2015 it launched a prototype of the 'Python™ Subsea Wellhead' developed as part of a Joint Industry Project in collaboration with BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, ENI, LR Senergy, Transocean and Oil States Industries Inc. 
·    It recently also completed a JIP in conjunction with Maersk to develop a downhole HPHT Tieback connector which for the first time allows the reconnection of production casing to HPHT exploration and production wells.
·    It developed and qualified a new product called POS-SET Connector™ which is designed to re-establish a connection onto rough conductor casing previously cut above the seabed to facilitate tieback or abandonment operations.
 
Having proven its POS-GRIP technology in the niche jack-up exploration market Plexus is now focused on extending its applications into the much larger multi-billion dollar land and platform production well market as well as actively pursuing a first time use of the new Python subsea wellhead into the important subsea sector. Such strategic initiatives will be pursued both organically and with trading partners and licencees.
 

Sp recovering with the oil price, could do well.

Four Year Framework Agreement Signed with Centrica
RNS
RNS Number : 5925T
Plexus Holdings Plc
09 January 2017
 
 
Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services
This announcement contains inside information
9 January 2017
 
 
 
 
 
 
Plexus Holdings PLC ('Plexus' or 'the Company')
4 Year Framework Agreement Signed with Centrica
 
Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, is pleased to announce it has signed a four year framework agreement ('the Agreement') with Centrica Norway ('Centrica').  Under the terms of the Agreement, Plexus will supply Centrica with surface wellhead and mudline equipment services for jack up exploration wells of all pressure ratings in the Norwegian sector of the North Sea.  
 
Plexus has previously supplied Centrica with its best in class wellhead equipment for a number of wells in the North Sea including those on the Butch exploration and appraisal wells (now known as the Oda projects) in the Norwegian sector between 2012 and 2014.  Under the terms of the four year Agreement, Centrica can request up to three further one year extensions following the end of the initial four year term. 
 
Plexus' CEO Ben Van Bilderbeek said, "To secure a framework agreement with a longstanding customer is in our view testament to the excellent track record we have built up over the years, particularly in the North Sea as a supplier of best in class wellhead equipment to a roster of blue chip operators, including Centrica.  We have always believed that once an operator experiences the superior qualities in terms of performance, reliability and safety of our POS-GRIP enabled equipment out in the field for themselves, Plexus is strongly placed to win business where there are jack-up exploration wells to be drilled.  Centrica recently stated that 'the North Sea is a focus area and we are looking forward to working with it under this framework agreement as new exploration well opportunities arise'.  
 
"While the Agreement is specifically for supplying exploration wells in the Norwegian North Sea, we are confident that we can use this as a platform from which we can tender for future business with Centrica in other geographies and in other markets such as production and subsea.  Together with the recent announcements of agreed production cuts by both OPEC and certain non-OPEC producers, we are hopeful that the point at which supply and demand reach equilibrium has been brought forward, and that as a result exploration activity will soon begin to pick up from today's historic lows.   In the meantime, as today's framework agreement demonstrates, we continue to work hard to ensure that Plexus is well placed to hit the ground running once the exploration sector reignites."
 
**ENDS**
 
For further information please visit www.posgrip.com or contact:
 
Ben van Bilderbeek
Plexus Holdings PLC  
Tel: 020 7795 6890
Graham Stevens
Plexus Holdings PLC
Tel: 020 7795 6890
Nick Tulloch
Cenkos Securities PLC
Tel: 0131 220 9772
Derrick Lee
Cenkos Securities PLC
Tel: 0131 220 9100
Frank Buhagiar
St Brides Partners Ltd
Tel: 020 7236 1177
Isabel de Salis
St Brides Partners Ltd
Tel: 020 7236 1177
 
NOTES:
Plexus Holdings PLC
 
Plexus Holdings PLC is an AIM traded oil and gas engineering and services business, which supplies wellhead and mudline suspension equipment together with associated equipment and services for exploration and production applications.  Based in Aberdeen, with a presence in London, Cairo, Kuala Lumpur, Singapore and Texas, it has developed and patented a friction-grip 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.
 
To date, POS-GRIP wellhead systems have been used in over 400 oil and gas wells by numerous international companies.  In particular, the technology has advantages in High Pressure/High Temperature (HPHT) and Extreme HPHT (X-HPHT) oil and gas environments, for which there is growing global demand and where Plexus is being increasingly recognised as the supplier of choice.  Plexus has recently successfully completed the supply of an X-HPHT exploration wellhead to Total for the Solaris well which is believed to be the deepest and highest pressure well ever drilled in the North Sea.
 
Plexus is also extending its technology into an increasing number of other applications:
·     In September 2015 it launched a prototype of the 'Python™ Subsea Wellhead' developed as part of a Joint Industry Project in collaboration with BG, Royal Dutch Shell, Wintershall, Maersk, TOTAL, Tullow Oil, ENI, LR Senergy, Transocean and Oil States Industries Inc. 
·     It recently also completed a JIP in conjunction with Maersk to develop a downhole HPHT Tieback connector which for the first time allows the reconnection of production casing to HPHT exploration and production wells.
·     It developed and qualified a new product called POS-SET Connector™ which is designed to re-establish a connection onto rough conductor casing previously cut above the seabed to facilitate tieback or abandonment operations.
 
Having proven its POS-GRIP technology in the niche jack-up exploration market Plexus is now focused on extending its applications into the much larger multi-billion dollar land and platform production well market as well as actively pursuing a first time use of the new Python subsea wellhead into the important subsea sector. Such