Further Iraq Data Sales

RNS Number : 3132M

GETECH Group plc

15 August 2011

 



GETECH Group plc

("GETECH", "Company" or "Group")

FURTHER IRAQ DATA SALE

GETECH, the oil services business specialising in the provision of exploration data and petroleum systems studies and evaluations, is pleased to announce a further sale of the Iraq aeromagnetic dataset, following the signing of an exclusive marketing agreement with the Geological Survey of Iraq in December 2010 (RNS 20 Dec 2010).

The Company announced its first sale of the full aeromagnetic dataset in July 2011, and is now pleased to report a further sale of the same dataset at the start of August 2011 with gross revenue as before in excess of $500,000.

Professor Derek Fairhead, President and Founder of GETECH, commented "This provides further evidence of the strength of interest in exploration in Iraq. We believe that the upcoming 4th licence round in Iraq, which involves 12 exploration blocks and for which 41 companies are reported to have been pre-qualified, will generate further interest in these datasets in whole or in part."

Enquiries

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

 

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