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/

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)




http://www.moneyam.com/action/news/showArticle?id=4912575

Plexus: Numis cuts target price from 372p to 350p and keeps its buy recommendation.

GBP1.9 Million Well Order

RNS


RNS Number : 7468X

Plexus Holdings Plc

24 November 2014




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

24 November 2014



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

£1.9 Million Well Order



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 a major oil and gas operator to supply surface wellhead and mudline equipment services for a gas and condensate exploration well in the UK Continental Shelf in the North Sea. The value of the order is estimated at approximately £1.9 million with revenues expected to commence in November 2014.



Under the terms of the 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 casing support systems. Plexus has a long-standing relationship with this client who was the first to use the Company's 18-3/4" 15,000psi HP/HT wellhead on the Norwegian Continental Shelf.



Plexus' CEO Ben Van Bilderbeek said, "This new order coming on the back of last month's order from BG Group demonstrates that from a dominant position in the HP/HT market, our core wellhead equipment rental business based on our proprietary POS-GRIP technology continues to win repeat business from customers operating in the North Sea.



"In February 2014 the Wood Report highlighted the need for increased investment in the North Sea. In the resultant upcoming Fiscal Review, due to report in December, UK ministers are expected to unveil new HP/HT tax breaks to boost exploration which we hope will act as a positive catalyst for new drilling activity and indeed new business opportunities for Plexus in the region.



"In addition, we are making excellent progress in rolling out our offering outside the North Sea. We have already established an Asian hub with bases in Singapore and Malaysia to pursue opportunities in this highly active region whilst, albeit at an earlier stage, we are exploring ways to expand into the Americas. Having proven the superiority for safety, performance and time saving capabilities of our equipment in the North Sea, we are highly confident we can capitalise on the considerable expansion opportunities that exist globally for our core jack-up exploration rental business, and I look forward to providing further updates on our progress."



**ENDS**

GBP0.9 Million Well Order

RNS


RNS Number : 2366Y

Plexus Holdings Plc

28 November 2014






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

28 November 2014

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

Additional Well Order Signed With Det Norske - Norway



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering is pleased to announce that it has received a purchase order ('PO') from Det Norske Oljeselskap ASA ('Det Norske') to supply surface wellhead and mudline equipment services for Geopilot#2, an oil and gas appraisal well on the Ivar Aasen development project, offshore Norway. Geopilot#2 will be the seventh Det Norske well to use Plexus' POS-GRIP wellhead equipment since 2012, highlighting how the Company continues to win repeat business from its blue chip customer base. The value of the latest order is estimated at approximately £0.9 million with revenues expected to commence in February 2015.



Under the terms of the PO contract, Plexus will supply its 18-3/4" 15,000psi High pressure/ High Temperature ('HP/HT') adjustable surface wellhead and mudline system. The drilling of Geopilot#2 will directly follow the Geopilot#1 well which will also be using Plexus' POS-GRIP® based equipment. Both wells will be drilled using the recently built Maersk Interceptor rig. Plexus' equipment has been selected for use on the two wells as a result of its superior safety and performance capabilities, in addition to the time/cost savings it delivers.



Plexus CEO Ben Van Bilderbeek said, "Geopilot#2 is the third order we have received for our best in class wellhead equipment for wells offshore Norway during the 2014 calendar year, evidence of the key role Plexus is playing in an area experiencing heightened levels of activity. At the wider regional level including the UK, Danish and Dutch zones of the North Sea, today's order is the tenth we have been awarded in 2014 and further cements our position as the go-to provider of HP/HT wellhead equipment, known for its increased safety, time and cost saving capabilities. We are also looking to replicate our success in the North Sea in other geographies, in line with our strategy to build a leading global wellhead engineering company. This is evidenced by our move into Asia where we are establishing a fully operational business hub to supply our POS-GRIP wellhead equipment and services to the region's fast-growing oil and gas exploration and production markets. I look forward to providing further updates on our progress in due course."



**ENDS**

AGM Statement


http://www.moneyam.com/action/news/showArticle?id=4940515

Annual report and accounts

Financial Results
• Record revenue, EBITDA, profit before tax and profit after tax
• 65.1% increase in profit after tax to £5.05m (2013: £3.06m)
• 5.7% increase in revenue to £27.02m (2013: £25.57m)
• 18.7% increase in EBITDA to £9.02m (2013: £7.60m)
• 25.9% increase in profit before tax to £5.38m (2013: £4.27m)
• 62.9% increase in basic earnings per share to 6.01p (2013: 3.69p)
• 12.7% proposed increase in final dividend to 0.62p per share (2013: 0.55p)
Highlights
• Strong financial performance driven by core business of renting proprietary POS-GRIP® friction-grip
exploration wellhead equipment, particularly High Pressure/High Temperature (‘HP/HT’) applications,
resulting in repeat business and the winning of new major international oil and gas customers in new
territories around the world
• HP/HT rental equipment contract wins with existing customers included Statoil Petroleum AS (‘Statoil’)
for £2.5m, Glencore Exploration Cameroon Ltd (‘Glencore’) for £1.6m, Maersk Oil Danish Unit (‘Maersk’)
for £1.1m, GDF Suez E&P UK Ltd (‘GDF’) for £1.5m, and post period end from Det Norske Oljeselskap
ASA (‘Det Norske’) for £1m, and BG Group UK (‘BG’) for £2m
• New customer wins included a third Australian customer Eni Australia Limited (‘Eni Aus’) for £1.0m
(adding to Apache Energy Australia (‘Apache’) and Santos Ltd), as well as new customers in new territories
Galp Energia Tarfya B.V. (‘Galp’) in Morocco (£0.6m), and Shell China Exploration and Production
Company Limited (‘Shell China’) offshore Hainan Island, China
• Three year contracts secured – firstly renewal of Wintershall Noordzee B.V. (‘Wintershall’) contract for
the supply of exploration equipment for the North Sea offshore Netherlands, and secondly with leading
drilling engineering company, AGR Well Management Limited (‘AGR’), which has already generated a
contract for a new user, Svenska Petroleum Exploration AB (‘Svenska’), in another new territory, Guinea
Bissau in West Africa (£0.4m)
• Production wellhead equipment order secured from Centrica North Sea Gas Ltd (‘Centrica’) for £0.85m
which further demonstrates Plexus’ ability to supply wellhead equipment not only for exploration wells
but also long term production wells which is a significantly larger addressable market
• Continuing evidence of the need for safer and better technology and equipment following the Macondo
incident in the Gulf of Mexico in 2010, particularly in relation to HP/HT drilling and subsea where a number
of related major industry initiatives have been launched. Plexus firmly believes that for wellheads and
metal-to-metal sealing, POS-GRIP technology offers a uniquely superior solution to the challenges faced
by operators in the field
• Significant progress being made with the new subsea wellhead design ‘HGSS’TM Joint Industry Project
(‘JIP’) – design of the prototype frozen, testing of components well underway, and running of a prototype
planned for 2015
• Strong industry support for HGSS JIP as evidenced by both Senergy Holdings Limited (‘Senergy’) and
post period end, BG International Ltd joining alongside existing consulting partners Eni S.p.A. (‘Eni’),
Maersk Oil North Sea UK Ltd (‘Maersk North Sea’), Oil States Industries Inc. (‘Oil States’), Shell
International Exploration and Production B.V. (‘Shell International’), Total E&P Recherche Developpement
SAS (‘Total’), Tullow Oil plc (‘Tullow’), and Wintershall
• HP/HT Tie-Back Connector JIP reached another milestone with full product testing commencing post
period end, and is due for completion before the calendar year end - technical sales discussions are in
progress with an international oil and gas operator regarding opportunities in the UK and Egypt
• Capital investment in additional rental wellhead assets was £2.32m, a planned reduction on the prior year’s
record level (2013: £5.72m)
• Research and Development (‘R&D’) spend, excluding cost of building test fixtures, increased by 61% to
£2.37m (2013: £1.46m)
• Spending on intellectual property (‘IP’) patent development and filings increased by 42.7% to £0.18m
(2013: £0.12m)



http://www.posgrip.com/uploads/misc/Plexus_Holdings_plc_-_Annual_Report__Accounts_2014.pdf

Malcy's blog -Plexus Holdings (LON:POS)

The one thing you can always be sure of is that when all is looking gloomy Plexus will come up with an order, today is no different. The company has won an additional three well order from Brunei Shell Petroleum for POS-GRIP wellhead systems worth £1.5m which proves not only that its technology remains top drawer but that its clients think so too, BSP has worked with Plexus since 2006.

Interim results


Financial Results

· 7% increase in sales revenue to £13.51m (2013: £12.64m)

· 14% increase in EBITDA to £4.16m (2013: £3.66m)

· 28% increase in profit after tax to £1.97m (2013: £1.54m)

· 25% increase in basic earnings per share to 2.32p (2013: 1.85p)

· 6% increase in interim dividend to 0.51p per share approved for payment on 22 April 2015 to all shareholders appearing on the register of members on the record date 7 April 2015



Highlights

· Strong financial performance for POS-GRIP friction-grip rental wellhead equipment as a result of a combination of new and on-going contracts with a range of major international oil and gas operators particularly for High Pressure/High Temperature ('HP/HT') applications

· Two purchase orders for HP/HT rental wellhead systems secured from Det Norske Oljeselskap ASA ('Det Norske') for two wells in Norwegian sector of the North Sea with a value of circa £1.9m

· Contract received from a major oil and gas operator for the supply of HP/HT 15,000 psi wellhead equipment for the UK Continental Shelf ('UKCS') for circa £1.9m - the operator who is a long standing customer was the first operator to use Plexus HP/HT equipment on the Norwegian Continental Shelf

· Additional order secured from Centrica Energy Exploration and Production ('Centrica') for the Southern North Sea, offshore UK for standard pressure equipment with a value of circa £0.6m

· Contract received from BG Group (UK) for the supply of HP/HT exploration wellhead equipment in the UKCS with a value of circa £1.9m

· Post period end additional purchase orders received for three standard pressure and HP/HT exploration wells with a total value of circa £1.5m from long standing customer Brunei Shell Petroleum Sdn Bhd ('Shell Brunei') under an existing four year contract which runs to 2016

· Shell China Exploration and Production Company Limited ('Shell China') HP/HT gas exploration well announced in May 2014 offshore Hainan Island has commenced operations, and Plexus hopes that this will lead to further opportunities in this increasingly important Asian region where Plexus has also supplied wellhead equipment to Australia, Brunei and Malaysia

· The new subsea wellhead design HGSS™ Joint Industry Project ('JIP') continues to make excellent progress with the two remaining key test interfaces, to verify performance, entering their final stages with target completion by July this year - the building of a prototype single string system commenced in February 2015 and is expected to be completed in readiness for display at the SPE Offshore Europe Exhibition and Conference in Aberdeen ('OE2015') in September. Following launch, we hope that in conjunction with our JIP partners to deploy the prototype in the field in 2016

· Industry support for the HGSS JIP continues to be strong as demonstrated by the addition of BG International Ltd as a new consulting partner to the JIP in September alongside Eni S.p.A., Maersk, Senergy Holdings Limited ('Senergy'), Shell International Exploration and Production B.V. ('Shell'), Total E&P Recherche Developpement SAS ('Total'), Tullow Oil plc, Wintershall and Oil States Industries Inc.

· HP/HT Tie-Back JIP connector product is now ready for customisation and manufacture to suit specific requirements associated with an individual customer's HP/HT project - the unique advantages of this POS-GRIP product will now begin to be marketed to the industry

· New POS-GRIP product - POS-SET Connector™ - which is designed to enable operators to re-establish a connection onto rough conductor casing that has been previously cut above the seabed to facilitate abandonment operations, offers uniquely superior features and moves Plexus into the growing abandonment market

· Significant increase in research and development ('R&D') spend, excluding costs of building test fixtures, increased by 94% to £1.36m reflecting the innovative and proprietary technology driven nature of Plexus at a time when increased effort is being made to expand the portfolio of Plexus POS-GRIP based products
...........................................................................................................................

24 Mar Numis 352.00 Buy

According to the DECC, out of the more than 11,000 wells that have been drilled offshore UK, 5,000 remain active.

These wells along with those in other parts of the North Sea, and around the world will have to be abandoned in a responsible manner once they have reached the end of their lives. So Plexus Holdings has plenty to go for!

Read more at http://tinyurl.com/ornk2d9

New Product Win POS-SET Connector - Centrica
RNS
RNS Number : 3961I
Plexus Holdings Plc
25 March 2015



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

25 March 2015



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

New Plexus POS-GRIP® Product - First Order from Centrica for

POS-SET Connector™ for the Growing Abandonment Market



Plexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, is pleased to announce a purchase order ('PO') to supply and rent its new product POS-SET Connector™ utilising POS-GRIP friction grip engineering, which is to be used by Centrica Energy Exploration and Production ('Centrica') for abandonment operations on a gas well originally drilled 32 years ago in 1982 offshore Holland. This represents Plexus' first PO secured for the lucrative abandonment market, which the Directors believe has significant growth potential as a large number of ageing wells reach the end of their life in the North Sea and other regions and could become an important new revenue stream for the Company. The total value of the contract including engineering and testing work undertaken by Plexus is estimated at £0.8 million. Revenues are expected to commence in March 2015.



The proprietary POS-SET Connector has been developed and qualified to enable operators to re-establish a connection onto rough conductor casing that has been previously cut above the seabed to facilitate abandonment operations. Full scale testing has shown that the Plexus connector can achieve 80% of the bending and tensile strength of the parent pipe, which is significantly better than conventional alternatives. The POS-SET product can also be used on a number of applications in addition to abandonment including subsea completion operations using Subsea Tie Back Wellhead and Surface Wellhead Tie Back Platform Completion.



The POS-SET Connector was initially developed and successfully tested for Wintershall Holland. The PO with Centrica will be the first time the equipment will be installed out in the field in an abandonment application. Centrica will utilise a Plexus POS-SET Connector which has been designed specifically to be compatible with the 30 x 0.5" conductor originally used to drill the well and which has since been cut off above the sea bed. Plexus has a long standing relationship with Centrica having provided the operator with equipment for use on a number of exploration and appraisal wells in the North Sea, including the recent Grove Infill and Pegasus West wells.



Plexus CEO Ben van Bilderbeek said, "This latest order with Centrica represents another major milestone for Plexus, as it sees us enter a new and growing abandonment market where regulation is increasingly focused on the best available equipment solutions. According to the DECC, out of the plus 11,000 wells that have been drilled offshore UK, 5,000 remain active. These wells along with those in other parts of the North Sea, and around the world will have to be abandoned in a responsible manner once they have reached the end of their lives. With regulatory scrutiny on decommissioning and abandonment practices on the rise, we are confident that POS-SET offers operators similar performance, safety and cost benefits that our core POS-GRIP wellhead equipment has delivered on over 350 wells drilled worldwide. As a result, we believe this contract with Centrica has the potential to be the first of many and that POS-SET is well placed to secure a large share of this growing market.



"It has always been our strategy to first prove the superiority of our POS-GRIP friction grip method of engineering based equipment in the most extreme operating environments, and having established Plexus as the dominant supplier in the HP/HT market in the North Sea, we have done just that. Our next objective is to build on this proven capability and expand both geographically and in terms of applications for our game changing POS-GRIP technology. POS-SET is the latest member of the POS-GRIP family of equipment to enter the market but it will not be the last. With the Tie-Back Connector and the Subsea JIP both at advanced stages of development, this is an exciting time as we continue to pursue our strategy of building Plexus into a leading oil and gas engineering company offering best in class equipment and services around the world. In anticipation of further such exciting product developments over the coming years, and as we begin to utilise the significant design and development engineering skills that we have harvested as part of our HGSS subsea JIP, we have recently incorporated a new subsidiary - Plexus Applied Technologies Limited."



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Framework Agreement Signed with Jereh
RNS
RNS Number : 5004I
Plexus Holdings Plc
26 March 2015



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

Framework Agreement Signed in Beijing with Yantai Jereh Oilfield Services Group Co., Ltd.



Plexus Holdings plc, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® method of wellhead engineering, is pleased to announce that it has entered into a Framework Agreement ('the Agreement') with Yantai Jereh Oilfield Services Group Co., Ltd. ('Jereh'), the major Chinese oil services provider of integrated solutions of oilfield equipment and services, and the two parties will now work together to formalise a binding license agreement to enable Jereh to manufacture and sell Plexus' wellhead equipment to the Chinese and wider Asian oil and gas markets. Jereh is a public company listed on the Shenzhen stock exchange with a market capitalisation of over US $5.8bn and 5,000 employees.



The Agreement remains subject to legally binding agreements ("Binding Agreements") being finalised and signed. It is envisaged that the Binding Agreements will include the following terms:



· Plexus will grant to Jereh an exclusive licence in China and other designated Asian territories to enable Jereh to manufacture and supply Plexus' products utilising Plexus' trademarks, patents, technology, know-how, engineering, standards and other intellectual property and technical services of Plexus.

· Jereh (or a wholly-owned affiliate of Jereh) will subscribe for new ordinary shares in the Company (the "Subscription"), such that Jereh would be interested in 5 per cent. of the enlarged issued share capital of Plexus, at a price of 180 pence per share (this being a premium to the price at the time the parties commenced discussions regarding the proposed licencing licensing agreement); and for a period of twelve months from the date of issue of the new ordinary shares pursuant to the Subscription, will retain the right to subscribe for further new ordinary shares in the Company such that Jereh would become interested in 10 per cent. of the enlarged share capital of Plexus at a price the lower of: (i) 200 pence per share (this being a premium to the price at the time the parties commenced discussions regarding the proposed licencing agreement); and (ii) the closing price on the date on which Jereh notifies the Company of its intention to exercise the option.

· Jereh would have the right to appoint a non-executive director to the board of Plexus, subject to regulatory requirements.



Completion of the proposed transaction requires, inter alia, additional due diligence to be carried out by both parties and remains subject to further negotiation and final documentation (including the subscription agreement and technology licence agreement).



The signing ceremony and announcement was jointly made by Kunxiao Wang, President and Co-founder of Jereh, and Ben van Bilderbeek, the inventor of POS-GRIPtechnology, CEO and founder of Plexus at the 15th China International Petroleum & Petrochemical Technology & Equipment Exhibition 2015 ('CIPPE') in Beijing, which runs from the 26th to 28th of March ('Beijing Oil Show').Jereh is currently exhibiting at the Beijing Oil Show, and as part of the initial collaboration between Jereh and Plexus, the Plexus wellhead R&D Model 13 ½ 10M POS-GRIP Exploration Wellhead System, with stand and tensioners, has been shipped from Plexus Malaysia and is being jointly displayed on the Jereh stand. The Beijing Oil Show extends over 90,000 sq. metres and attracts 1,800 exhibitors from 65 countries and regions, 16 international pavilions and 65,000 professional visitors.



Plexus' CEO Ben Van Bilderbeek said, "I am delighted that Plexus and Jereh have entered into the Agreement which we hope will enable us to bring Plexus' POS-GRIP technology to the important and growing Chinese market and other relevant Asian territories. We view China and Asia as one of the key global market opportunities for Plexus, and we believe that our POS-GRIP wellhead equipment will deliver operational time savings and safety benefits to the oil & gas companies operating in the region, many of whom will be facing high pressure/high temperature ('HP/HT') conditions which POS-GRIP technology is uniquely suitable for, and which has resulted in Plexus supplying wellhead equipment for the majority of HP/HT jack-up wells in the North Sea region.



"The progress we have made to date in our discussions with Jereh is an example of how Plexus continues to extend its geographic reach and we are continuing to see new enquiries from across the globe from operators that are considering POS-GRIP technology. Such progress, and the growing support of our existing and new customers is centred around the principal that we can ensure long-term safety over the lifetime of a production well and beyond. We offer the only wellhead design that can provide a convenient releasable engagement of the casing hanger to the wellhead bore, instantly providing a metal interface seal, which is based on the same principles and performance as those employed in premium couplings design. This remotely delivered and calibrated force eradicates destructive seal movement, and protects seal integrity.



"Plexus has already supplied Shell China with HP/HT POS-GRIP wellhead equipment for an exploration well offshore Hainan Island and we hope to increase our activity in this region. I would like to extend my appreciation to Chairman Sun for the way Jereh and his team have conducted these discussions, and I look forward to finalising the definitive agreements, and working with Jereh over the coming years."



Kunxiao Wang, President and Co-founder of Jereh said, "We are pleased to announce this alliance with Plexus, which can be a milestone for Jereh entering into the subsea market. Plexus provides unique wellhead system technologies with a strong commitment to make the oil and gas industry much safer and efficient. We are glad to be able to work with such an outstanding partner. By integrating Plexus patented technology and Jereh manufacturing and marketing capabilities, we believe the alliance will create significant influence in the offshore and subsea field and create compelling benefits for customers around the world."





**ENDS**