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Plexus Gets GBP800,000 Contract From Santos In Australia

Date : 12/08/2011 @ 3:55AM
Source : Dow Jones News
Stock : Santos Fpo (STO)
Quote : 12.97  0.17 (1.33%) @ 3:50AM
Santos Ltd share price Chart

Plexus Gets GBP800,000 Contract From Santos In Australia

Plexus (LSE:POS)
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Plexus Holdings PLC (POS.LN) said Thursday it has received a GBP800,000 contract from Australian oil and gas explorer Santos Ltd. (STO.AU) for wellheads and related equipment.

Plexus expects to start receiving revenue from the contract in August 2012.

Chief Executive Ben Van Bilderbeek said, "We are delighted to be working with one of Australia's leading gas producers, Santos Ltd., which will undoubtedly strengthen our profile in the country and region, and hopefully open up further opportunities in this expanding market."

Bilderbeek said he believes that word of mouth played a large part in Plexus being awarded the contract.

Wellheads are essential components in oil and gas drilling and are the surface structures that contain pressure and attach to drilling and production equipment.

Shares at 0820 GMT were flat at 88.5 pence, in a slightly higher Alternative Investment Market--up 0.02%.

-By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; iain.packham@dowjones.com



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