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/

Sp recovering with the oil price, could do well.

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