Plexus (AIM:POS) – Excellent AGM statement today from this AIM star
The AIM quoted oil and gas engineering services business and owner of the brilliant POS-GRIP® friction-grip method of wellhead engineering issued a comprehensive AGM statement today that is a must read for anyone interested in the energy sector and offers interesting thoughts on the current oil price fall.
Herewith comment on the oil price:
“It is important that I take this opportunity to comment on the significant decline in the oil price which has gathered apace since our year end, and where at the end of June it approached US $115 per barrel and today stands at nearer to US $60 dollars per barrel. Such a steep decline has inevitably resulted in much speculation about what this means for the oil industry and future capital expenditure programmes. However it is important to consider what lies behind this situation and how long it is likely to last, and which sectors of the oil and gas…