New Appointments to the PSEG
GETECH Group plc
13 February 2006
13 February 2006
GETECH Group Plc
GETECH Strengthens Petroleum Systems Evaluation Group Team
GETECH Group Plc ('GETECH' or 'the Company'), the oil services business
specialising in the provision of exploration data and petroleum systems
evaluations, announces the appointment of four specialist geologists to the
Petroleum Systems Evaluation Group ('the Group').
These appointments were made as part of the continuing growth of the Group,
which aims to reduce exploration risk through the application of innovative and
traditional techniques in identifying international petroleum prospects. These
techniques include the interpretation of regional tectonics, basin dynamics,
Earth System modelling and palaeodrainage analysis.
Due to a consistent increase in demand for petroleum systems services, Dr. John
Jacques, Senior Structural Geologist, has conducted a proactive recruitment
campaign to identify key personnel within the areas of structural geology,
petroleum systems geology and geochemistry. The newly appointed personnel, drawn
from both academia and industry sources, will be integral to the Group's
continued success.
Commenting on the agreement, Managing Director of GETECH, Professor Derek
Fairhead said:
'As a result of our focused program, the number of petroleum systems personnel
within GETECH has risen to nine, since the creation of the Group in August 2004.
The additions of a Senior Geochemist, a Project Petroleum Geologist, a
Structural Petroleum Geologist and Petroleum Geologist, with combined experience
of over 50 years, will increase our offerings to the Company's blue chip,
Exploration and Production client base.
These additions to the team are completely in line with our strategies to create
a driving force in the oilfield service arena'.
-ENDS-
For further information, please contact:
Buchanan Communications www.buchanan.uk.com
Alastair Watson or Kelly-Ann French 01943 883990
alastairw@buchanan.uk.com or kelly-annf@buchanan.uk.com
GETECH Group Plc
www.getech.com
Prof Derek Fairhead (Managing Director) 0113 343 5240
Colin Glass (Finance Director) 07831 258494
jdf@getech.com
Teather & Greenwood Ltd www.teathers.com
Mark Dickenson
Rob Naylor 020 7426 9000
Notes to Editors
Company Background
GETECH is a profitable and cash generative oil services business specialising in
the compilation and analysis of gravity and magnetic data and in evaluating
petroleum systems within basins. 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 in the world.
GETECH evolved in the mid-1980's from a Research Group headed by Professor Derek
Fairhead within the Department of Earth Sciences at the University of Leeds
(UK), where the Company is still located today. In 2000, GETECH was spun out
from the University as a separate company.
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 a subsidiary in Houston, Texas and an active presence in Singapore.
GETECH has 3 principal activities:
• Global Gravity and Magnetic Data Licensing
• Integrated Basin Interpretation Studies and Services
• Evaluating the Petroleum Systems within basins
The first two activities contributed the majority of GETECH's revenue for the
year ended 31 July 2005. The third activity relates to a new Petroleum Systems
Evaluation Group, which was formed in 2004 and provides oil companies with
detailed insights into the key source, reservoir and seal issues relating to
hydrocarbon basins.
New Personnel Joining the Petroleum Systems Evaluation Group
James Armstrong, Senior Geochemist. James brings 25 years industry experience
gleaned from working for a range of large and small oil companies including the
respective national oil companies of Morocco, Libya, Algeria, Tunisia and Egypt.
In addition, he was the lead geochemist on several appraisal wells drilled
offshore China, and played an active role in a state sponsored study of the
Arabian Peninsula. For GETECH, James will apply his practical knowledge to the
18 month 'South Atlantic Margin Study' currently under review by the Company.
Ruth Hoult, Project Petroleum Geologist. Prior to Ruth's appointment to the
Company, she acted as Senior Seismic Interpreter and Hydrocarbons Geologist for
the British Geological Survey. This role centered on the defining of untested
prospects in the UKCS and the development of international hydrocarbon
exploration contracts such as those pertinent to the North Falklands Basin.
Claudia Fintina, Structural Petroleum Geologist. Claudia will join GETECH
bringing extensive knowledge of frontier exploration gathered from her previous
role as Structural Petroleum Geologist for PDVSA (the National Oil Company of
Venezuela). Claudia was involved with several studies focused on the evaluation
of both onshore and offshore prospects in the Venezuelan basin.
Dr. Chaker Raddadi, Petroleum Geologist. Dr. Raddadi is an expert in carbonate
depositional systems. His Post-Doctoral research, at the University of
Montpellier (France), was financially supported by a major oil company.
-ENDS-
This information is provided by RNS
The company news service from the London Stock Exchange