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/

Interim Results

Highlights



Financial

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

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

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

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



Operating

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

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

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

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

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

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

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

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





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

Contract Win in Morocco with Galp

RNS


RNS Number : 2550F

Plexus Holdings Plc

23 April 2014






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

23 April 2014

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

Well Order Signed With New Customer Galp Energia



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



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



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



**ENDS**

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

GBP900,000 Well Order Signed With Centrica

RNS


RNS Number : 7073F

Plexus Holdings Plc

29 April 2014






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

29 April 2014

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

£0.9m Well Order Signed With Centrica Energy Norway



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



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



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



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



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



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


Payzone - Plexus Holdings (LON:POS)

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

New Customer SCEPCO POS-GRIP Rental Contract Win

RNS


RNS Number : 6242H

Plexus Holdings Plc

21 May 2014








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

21 May 2014

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

New Customer SCEPCO POS-GRIP Rental Contract Win



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



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



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



**ENDS**

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

Sp over £3 with todays rise.

Contract Win with Maersk Oil for GBP1.4M

RNS


RNS Number : 6422I

Plexus Holdings Plc

03 June 2014








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

3 June 2014

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

Secured Second Well Contract with Maersk Oil for £1.4M



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



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



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



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



**ENDS**

12 Jun Numis 364.00 Add

Shares- big hopes for plexus.

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

Additional GBP0.6million Well Order from Centrica

RNS


RNS Number : 7877M

Plexus Holdings Plc

21 July 2014






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

21 July 2014

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

Additional £0.6m Well Order Signed With Centrica Plc



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



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



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



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



**ENDS**

Asian Expansion - New JV Company Malaysia

RNS


RNS Number : 9635O

Plexus Holdings Plc

13 August 2014






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

13 August 2014



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

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



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



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



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



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



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



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



**ENDS**

Pre-Close Trading Update

RNS


RNS Number : 9615P

Plexus Holdings Plc

26 August 2014






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

26 August 2014







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

Pre-Close Trading Update



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



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



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



**ENDS**

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

GBP1M Contract Win Det Norske - Norway

RNS


RNS Number : 0540Q

Plexus Holdings Plc

27 August 2014






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

27 August 2014



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

£1Million Well Order Signed With Det Norske - Norway



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



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



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



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



**ENDS**

BG is Sixth Oil and Gas Major to Join Subsea JIP

RNS


RNS Number : 4295Q

Plexus Holdings Plc

01 September 2014






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

1 September 2014







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

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



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



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



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



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



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



Further Information



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



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

Ø Upgradeable to 20,000 psi, 450 deg F

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

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

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

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

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

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



**ENDS**

Expansion of Operational HQ Aberdeen

RNS


RNS Number : 6714Q

Plexus Holdings Plc

03 September 2014








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

3 September 2014



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

Expansion of Operational Headquarters in Aberdeen through

£2.4m Acquisition of Additional Work Shop and Office Facility



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



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



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



**ENDS**

Significant Order Signed With BG Group

RNS


RNS Number : 0866T

Plexus Holdings Plc

01 October 2014






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




1 October 2014

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

Significant Order Signed With BG Group

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

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



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



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



**ENDS**

Final Results




Financial Results

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

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

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

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

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

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

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

Highlights

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

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

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

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

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

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

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

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

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

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

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

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




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