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/

Additional GBP1million Well Order from GDF Suez

RNS


RNS Number : 3751F

Plexus Holdings Plc

23 May 2013






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

23 May 2013

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

Additional £1 million Well Order from Gaz de France Suez



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



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



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



**ENDS**

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

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

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

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

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

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

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

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

GBP 2M Contract Win Det Norske

RNS


RNS Number : 6001G

Plexus Holdings Plc

10 June 2013






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

10 June 2013

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

Additional £2 million Two Well Order from Det Norske Oljeselskap



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



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



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



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



**ENDS**

New POS-GRIP Customer eni Australia

RNS


RNS Number : 2795I

Plexus Holdings Plc

02 July 2013








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

2 July 2013

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

New Customer eni Australia POS-GRIP Rental Contract Win



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



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



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



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



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

GBP 2.5M POS-GRIP Contract Win - Statoil

RNS


RNS Number : 7390J

Plexus Holdings Plc

22 July 2013








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

22 July 2013

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

Additional £2.5 million Order from Statoil Petroleum AS



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



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



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



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



**ENDS**

25% interest in UK Private Engineering Co acquired

RNS


RNS Number : 8831J

Plexus Holdings Plc

23 July 2013






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

23 July 2013

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

Purchase of 25% Shareholding in UK Private Engineering Company



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



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



**ENDS**

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

Pre-Close Trading Update

RNS


RNS Number : 4147K

Plexus Holdings Plc

30 July 2013






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

30 July 2013

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

Pre Close Trading Update



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



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



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



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





**ENDS**

Good recovery on the trading update.





Plexus sees FY results well ahead of market view

StockMarketWire.com

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

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

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

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



Story provided by StockMarketWire.com

Good rise today, fast getting back to its highs.

A good day for Plexus up 9.67%

Contract Win - BG Egypt

RNS


RNS Number : 5944Q

Plexus Holdings Plc

16 October 2013






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

16 October 2013

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

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



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



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



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



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



**ENDS**

golfinger, next earnings announcement 22 Oct 13 .

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



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

Cheers DC, appreciated.

Final Results

RNS


RNS Number : 1440R

Plexus Holdings Plc

23 October 2013






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

23 October 2013

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

Preliminary Results for the year to 30 June 2013



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



Results

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

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

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

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

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

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

Highlights

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Plexus invests for further growth after record full year results

Wed, 23 October 2013


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

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

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

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

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

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

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

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


By Joanne Hart, Financial Mail On Sunday

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


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


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


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




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


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


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


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


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

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

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

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