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Plexus Group (POS)     

dreamcatcher - 27 Oct 2012 14:48




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/




Chart.aspx?Provider=EODIntra&Code=POS&SiChart.aspx?Provider=EODIntra&Code=POS&Si

dreamcatcher - 27 Oct 2012 15:13 - 2 of 136

Customer demand for the POS -Grip wellhead is outpacing current capacity to deliver.
Plexus could benefit from an ongoing project in partnership with firms such as Royal Dutch Shell to develope a subsea wellhead. This could see it gain exposure to a market which, as a whole is expected to be worth $225 billion over next four years.



dreamcatcher - 31 Oct 2012 15:40 - 3 of 136

up 11%

dreamcatcher - 01 Nov 2012 09:42 - 4 of 136

Looks like investors are waking up to this one.

dreamcatcher - 21 Nov 2012 10:28 - 5 of 136

Added a few more of these .

dreamcatcher - 23 Nov 2012 16:34 - 6 of 136

Recovered well, a good day

dreamcatcher - 24 Nov 2012 13:09 - 7 of 136

In this weeks IC as a takeover candidate - Plexus has developed and patented a 'friction grip technology ' that is fast becoming a best practice product for shallow water wellheads, and indeed has already been used in more than 150 wells by dozens of multinational oil companies.
Yet with exploration increasingly targeting deeper , higher-presssure prospects offshore , the risk of a blow-out is greater than ever and the arguments for not using engineering solutions, where they exist, will be difficult to defend both commercially and legally.
So Plexus is partnering and collaborating with a slew of the biggest and best industry players to develop a similar product for deepwater drilling. At the moment high-pressure/high-temperature deep-water exploration wells (costing up to $200 million (£126 million) to drill) have to be permanently abandoned after drilling whether the reservoir is commercially viable or not, as there is no technical solution available to tie back these wells to production platforms. Should it be successfully commercialised , the technology would transform the industry. It would shave several years off the field development lifecycle and potentially save operators hundreds of millions of dollars in drilling costs.
True, it will likely take a few years to test, prove and permit the new wellhead.
But if it can do so , Plexus's technology will be sought after by every large oil company in the world. This will give it exposure to a market worth as a whole $225 billion over the next four years.

dreamcatcher - 26 Nov 2012 14:40 - 8 of 136

up 7%

dreamcatcher - 26 Nov 2012 19:04 - 9 of 136

Wellhead Animation

Typical "POS-GRIP" Production Wellhead System (.swf - 489KB)



http://www.posgrip.com/flash/Jasmine_HG.html

dreamcatcher - 27 Nov 2012 09:07 - 10 of 136

Added to my holding this morning

dreamcatcher - 28 Nov 2012 07:10 - 11 of 136

AGM Statement
RNS
RNS Number : 1587S
Plexus Holdings Plc
28 November 2012



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

28 November 2012

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

AGM Statement



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, will hold its Annual General Meeting ('AGM') today. Jerome Jeffrey Thrall, Chairman, will make the following statement at the AGM:



"Plexus recently delivered another set of record results for the financial year ended 30 June 2012. During the last twelve month period, revenues rose 27.8% to £19.72m, generating a 33% increase in EBITDA to £6.24m, and pre-tax profits of £3.09m, almost double that of the previous year.



"Multiple contract wins over the period from new and existing customers including leading multinationals BG Group, Maersk and Centrica Oil lie behind the strong trading performance. Our POS-GRIP wellhead systems have now been used or selected to be used in over 250 oil and gas wells across the world, including, Asia Australia, Africa, Europe, Middle East, Russia, and North Africa. With many major oil and gas operators now customers of Plexus, we believe the industry is increasingly recognising our POS-GRIP® wellhead equipment as best in class in terms of quality, reliability and safety. This success to date underpins our decision to implement a growth strategy centred on the strong Asian market including Singapore, Malaysia, and Brunei.



"Winning both new and repeat business however provides the best proof of all that the momentum behind our wellhead rental business is gaining traction. Post period end, we announced a further four contract wins worth a total of £6.15m. Encouragingly, these were all secured as a result of satisfied customers either repeating orders or recommending Plexus' equipment to their peers. I believe Plexus is now in a virtuous circle, whereby new contract wins translate into higher earnings which in turn allow us to invest in further capacity and inventory, enabling us to win and service more contracts whilst maintaining the quality and standards of our offering. At the same time, the cashflow generated by the rental wellhead business enables us to fund the development of innovative projects such as the important 'HGSS' subsea wellhead design Joint Industry Project ('JIP') in conjunction with a number of international oil companies, with the aim of extending the family of POS-GRIP® products that we can offer our blue chip customer base.



"In the year ahead, we expect to report further significant progress across the range of our activities. In our core rental business, I believe we will build on the strong start to the year as demand for our POS-GRIP® proprietary friction-grip wellhead equipment, particularly for high pressure/high temperature ('HP/HT') exploration rental applications continues to grow. Exploration and production activities are moving to ever more complex and hostile environments, notably deepwater where equipment is required to function under extreme pressures and temperatures. By necessity, and in many instances encouraged by regulatory pressures, the industry is therefore turning to those companies that can provide proven, superior and reliable equipment which can also deliver innovative solutions to increasingly challenging drilling conditions. As an example, there is increasing coverage in the trade press of the need for wellhead equipment that can cope with pressures of up to 20,000 psi and beyond. Indeed certain recent merger and acquisition activity is directly aimed at helping to address the need for new solutions and features both for surface and subsea applications.



"The Board believe the achievements of Plexus to date mostly within the jack-up drilling exploration market merely scratch the surface of the opportunity available to us when looking at the wellhead equipment market as a whole. The addressable market for our POS-GRIP technology is already a multi-billion dollar one and is still growing, particularly in the subsea sector where new challenges such as Artic drilling are gaining momentum. Only recently in the Drilling Contractor publication article called 'HPHT research heats up' it was reported that "…today's technological advances won't be enough to sustain long-term production in fields where ever rising pressures and temperatures characterize virtually every reservoir." I am confident therefore that we will continue to increase our market share in the years ahead both through organic growth as well as various strategic initiatives and, in the process, generate substantial value for all our shareholders.



"Finally, as announced on 16 October 2012, I am pleased to confirm that the Board has recommended the payment of an increased final dividend of 0.5p per share, 16% higher than the previous year ended 30 June 2011, and which will be submitted for formal approval at this AGM today."



* * ENDS * *

dreamcatcher - 03 Dec 2012 19:59 - 12 of 136

Chart.aspx?Provider=EODIntra&Code=POS&Si

dreamcatcher - 05 Dec 2012 12:57 - 13 of 136

Pushing North.

dreamcatcher - 06 Dec 2012 11:04 - 14 of 136

Delivering at the moment, High hopes for this one

dreamcatcher - 06 Dec 2012 12:44 - 15 of 136

Only 52,000 traded today, up 7.3%

dreamcatcher - 06 Dec 2012 16:27 - 16 of 136

Good to see the directors purchasing stock. Sends out good vibes.

dreamcatcher - 07 Dec 2012 13:47 - 17 of 136

Looking like investors have seen the huge potential of this company.

dreamcatcher - 08 Dec 2012 12:30 - 18 of 136

A buy in this weeks shares mag. £6.2 m worth of new contracts won since 28 Sept 2012. Enjoying a virtuous circle of contract wins delivering higher earnings which in turn supports investment in new capacity and therefore even more new work.
Demand currently 'outpacing capacity to deliver' according to chief executive officer Ben Van Bilderbeek. In response Plexus has outlined plans to increase its rental well-head inventory.
The company should be able to fund the majority of the expansion out of cash flow but also has a largely undrawn £6m lending facility on hand.

I see they are advertising for staff on the company web site .

dreamcatcher - 10 Dec 2012 16:21 - 19 of 136

Still ticking up, buys 3/1 sell

dreamcatcher - 11 Dec 2012 09:04 - 20 of 136

Very close to £3 now, strong purchasing again today.

dreamcatcher - 11 Dec 2012 12:42 - 21 of 136

;-))
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