Major data sales totalling $2m

RNS Number : 5939U

GETECH Group plc

02 January 2013

 



GETECH Group plc

("Getech" or the "Company")

Major data sales totalling $2m

GETECH, the oil services business specialising in the provision of exploration data and geological exploration studies, announces two new sales from its global data library.

The Company is pleased to announce that demand for its world class datasets has been enhanced as a consequence of the increased uptake of its Globe platform by international oil and gas explorationists.  Getech has now secured two significant sales from the global gravity and magnetic datasets that provide the structural support for the Globe platform, one priced at $1,500k and one at $500k.  These two contracts were requested and signed within a matter of days, and required that the data be delivered by the end of December.

Getech's Chief Executive, Raymond Wolfson, commented, "Data sales have historically been both profitable and a strong cash generator for us, and continue to be so. While the underlying demand for our data continues as before, these new contracts are further examples of sales deriving from our marketing of Globe. We believe that the increasing uptake of Globe will continue to stimulate sales of such related products and services."

Enquiries

GETECH Group plc Raymond Wolfson, Chief Executive	Tel:  [phone]
WH Ireland Limited Katy Mitchell	Tel:  [phone]
Walbrook PR Helen Westaway	Tel:  [phone] Mob: [phone] [e-mail]

 

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