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/

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-