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/

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