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Plexus (AIM:POS) – another nice order, there is life in oil equipment

28/11/2014 · Plexus (POS) 

Despite OPEC’s reluctance to support the oil price all is not dead in the oil equipment and services arena with the owner of the brilliant POS-GRIP® friction-grip method of wellhead engineering announcing another nice order.

It is supplying 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 £0.9m with revenues expected to commence in February 2015.…

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