Dubai Petroleum awards Plexus Holdings equipment contract

June 17, 2008

Plexus Holdings PLC has signed a contract with Dubai Petroleum Establishment, subject to completion of relevant contract terms, to supply the company's proprietary POS-GRIP wellhead and mudline suspension systems for use in the Arabian Gulf.

Offshore staff

ABERDEEN, Scotland -- Plexus Holdings PLC has signed a contract with Dubai Petroleum Establishment, subject to completion of relevant contract terms, to supply the company's proprietary POS-GRIP wellhead and mudline suspension systems for use in the Arabian Gulf.

The immediate value of the contract is circa £125,000 ($244,000), plus service charges with revenues beginning in July 2008, the first quarter of the company's next financial year 2008/2009.

Plexus will provide Dubai Petroleum with its standard proprietary 10,000 psi POS-GRIP technology wellhead rental equipment for an oil exploration well contract.

06/17/2008