Getech Group plc - Major data sale $962k

20 Jun 2013

GETECH, the oil services business specialising in the provision of exploration data and geological exploration studies, announces a further sale from its global data library.

The Company is pleased to announce that it has made a further sale of a substantial part of its global magnetic dataset, with a price of $962k. This dataset has been built over a period of many years and is used by clients to help them identify target areas for their exploration activities by helping them to understand the structure of the earth's subsurface.

Getech's Chief Executive, Raymond Wolfson, commented, "Data sales continue to be both profitable and a strong cash generator for us. This sale is particularly pleasing as it was made to a major independent oil company with global objectives. This client not only bought our global gravity data a number of years ago, but was also the first to sponsor our Globe platform."

Enquiries

GETECH Group plc
Raymond Wolfson, Chief Executive 

Tel:  0113 322 2200

WH Ireland Limited
Katy Mitchell

Tel:  0161 832 2174

Walbrook PR
Helen Westaway

Tel:  020 7933 8790

Mob: 07841 917 679

helen.westaway@walbrookpr.com