Memorandum of Understanding

GETECH Group plc
07 November 2005

Monday 7 November 2006






                                GETECH Group Plc

                          Memorandum of Understanding

                                      with

                     The Development Research Center of the

                            China Geological Survey



GETECH Group Plc ('GETECH' or 'the Company'), the oil services business
specialising in the compilation and analysis of gravity and magnetic data, is
pleased to announce that the Company has signed a Memorandum of Understanding 
('MOU') with The Development Research Center of the China Geological Survey 
('CGS').



Commencing in 2006, GETECH will act on behalf of the CGS to market, outside of
China, their geological, geochemistry and geophysical data, in Geographical
Information System ('GIS') format at data resolutions to be agreed. Until now,
these data have not been previously available, even within China.



GETECH has a long standing and commercially beneficial relationship with the
CGS, having jointly completed a major aeromagnetic compilation study of China
with one of its divisions, the Aero Geophysical Survey & Remote Sensing Center
('AGRS') in the mid 1990's. GETECH geophysicist, Kaxia Lei managed this three
year study, in Beijing, which involved a work force of ten geophysicists from
AGRS. GETECH continues to market this aeromagnetic data to the oil and mineral
industries.



Besides the MOU allowing GETECH to market the CGS data, it allows available
exchanges of personnel and will promote the undertaking of joint studies of
mutual scientific interest.



Commenting on this news, Managing Director of GETCH, Professor Derek Fairhead
said:



'The signing of this MOU is a significant strategic development for GETECH as it
acknowledges the close links we have developed with CGS in previous years.
Access to these data will allow GETECH to continue to expand and diversify its
commercial geoscientific library, which currently holds the most extensive
commercial collection of gravity and magnetic data in the world.'



For further information, please contact:



Buchanan Communications               www.buchanan.uk.com
Kelly-Ann French                      01943 883990
[e-mail]



GETECH Group Plc                      www.getech.com
Prof Derek Fairhead                   0113 343 5240
Colin Glass                           07831 258494
[e-mail]



Teather & Greenwood Ltd               www.teathers.com
Rob Naylor                            020 7426 9000
[e-mail]



Notes to Editors



GETECH is a profitable and cash generative oil services business specialising in
the compilation and analysis of gravity and magnetic data. GETECH licenses these
data sets and interpretation reports to major oil, gas and mining companies to
enable these companies to evaluate regional geology and thereby assist their
exploration strategies. GETECH has compiled one of the most extensive commercial
libraries of gravity and magnetic data. GETECH is based at the University of
Leeds, and it has a subsidiary in Houston, Texas.



On September 23 2005, the Company listed on the AIM market of the London Stock
Exchange, raising just over £3 million via an institutional Placing.



GETECH has 3 principal activities:

  • Global Gravity and Magnetic Data Licensing
  • Interpretation Studies and Services
  • PSEG



The first two activities contributed the majority of Group revenue for the year
ended 31 July 2005.



1. Global Gravity and Magnetic Data Licensing

GETECH has compiled one of the most extensive commercial libraries of gravity
and magnetic data, which is marketed and then licensed to oil, gas and mining
companies. This activity has contributed the majority of Group revenue and
profit since 2000 and contributed 51 per cent. Of Group revenue for the year
ended 31 July 2005. GETECH continues to update its data library by entering into
new marketing agreements with data suppliers and therefore continues to develop
new products. For example, RAMS, an ongoing GETECH study, receives funding from
four of the leading oil companies totalling in excess of £1.2 million.



2. Interpretation Studies and Services

The Group undertakes two types of interpretation studies:

•   Non-exclusive studies, whereby a number of companies provide the
funding for the study but the ownership of the study remains with GETECH. The
study is then licensed to as many clients as possible after completion. GETECH's
global gravity and magnetic archive data are often incorporated within the
studies. An example of such a study is the 'Libya Depth to Basement Study',
which used GETECH-compiled gravity and magnetic data, over 700 wells, and public
domain data to undertake a geological/geophysical three-dimensional
interpretation study of the basement. The study has been sold successfully for
five years as oil companies either enter Libya for the first time or return
after sanctions were lifted. New studies are being considered in Africa, the
Middle East and South East Asia.



•   Proprietary studies, whereby a single client commissions work.
Currently, this is a relatively modest revenue earner for GETECH contributing 3
per cent. of Group revenue for the year ended 31 July 2005. The work covers
processing and interpretation of both GETECH datasets and survey data provided
by the client.



GETECH provides three types of services, which include:

  • Software sales and support of a limited range of databasing, processing
    and interpretation software developed by GETECH.
  • Training courses to oil, gas and mining companies, which are part of
    GETECH's marketing strategy.
  • Research and development to be undertaken and funded within set projects
    or as a standalone proprietary or group-funded study.



3. PSEG

In mid-2004, GETECH decided to enhance its interpretation capability by
establishing PSEG, headed by Dr John Jacques and Dr Paul Markwick. PSEG uses
data already held by GETECH with other data to analyse the potential petroleum
systems within sedimentary basins. The aim of PSEG is to provide oil companies
with a more detailed insight of where oil and gas are likely to be found within
the sedimentary basins.





                                     -ENDS-




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