Just2clicks.com PLC
19 April 2000
Just2clicks.com plc
('J2C' or 'the Company')
Alliance with Granite Rock Limited
to Establish New Oil & Gas Vertical Trading Community
J2C (www.just2clicks.com) is totally focused on deriving transactional
revenues from B2B e-commerce worldwide and is the UK's largest quoted operator
of business-to-business ('B2B') vertical trading communities. These vertical
communities are designed to benefit from the Internet's ability to allow
businesses in the same industries to communicate and trade with each other on-
line. Following its recent flotation on the Alternative Investment Market, J2C
today announces the acquisition of Granite Rock Limited, with a view to
establishing a new on-line trading community for the worldwide oil and gas
industry.
J2C is pleased to announce today the acquisition of Granite Rock Limited
('Granite Rock'), an international provider of geophysical services to the oil
and gas industry. The consideration payable will be through the issue of
543,872 new ordinary shares in J2C.
Granite Rock provides a comprehensive range of services and solutions aimed at
allowing clients to interpret structural and seismic geophysical data and
extract the maximum value therefrom in the most efficient way possible.
Granite Rock employs leading-edge software and hardware and innovative
interpretation workflows to provide these solutions. It numbers such blue
chip companies as BP Amoco, Total Fina Elf and Shell among its customers.
It is the intention of J2C and Granite Rock to build an independent B2B
vertical trading community for the oil and gas industry. The aim is to
develop this community into an online forum for the exchange of technical
information, the gaining of access to a range of asset and production data,
the participation in relevant industry affiliation schemes and the buying and
selling of industry equipment and services. It is expected that the J2C /
Granite Rock oil and gas trading community will become fully active within the
next 6 months.
J2C and Granite Rock both believe that their combined expertise, industry
knowledge and, above all, technological know-how will create a unique on-line
marketplace. Given the J2C / Granite Rock marketplace's independence and
mixture of facilitation, product and service delivery, J2C believes it has
added a high quality asset to its already impressive array of on-line trading
communities.
As at 31 August 1999, Granite Rock had net liabilities of £15,900 and for the
year ended on that date reported a loss before tax of £85,000 on turnover of
£449,000.
Karl Watkin, Chief Executive of J2C, said:
'It has always been our game plan to marry our own expertise with suitable
partners capable of offering their own cutting-edge technology and services,
with a view to creating on-line marketplaces that will be attractive to all
players in the relevant industries. Oil and gas is a perfect industry for us
to achieve this and by teaming up with a high quality operator such as Granite
Rock, we are adding another powerful string to our bow.'
Stephen Birrell, Chief Executive of Granite Rock, added:
'Granite Rock has been developing plans for an independent B2B site for about
9 months and believes that the blend of a real and virtual business will allow
it to rise above the current stampede of sites only providing information and
margin-taking facilities.
'The industry needs a truly independent and European Business Facilitation
Site and Market Place to cater for the unique needs of the oil and gas
industry in the EAME region. We believe that J2C and Granite Rock are ideally
suited to deliver this.
'Technology is the key to this development, and J2C and Granite Rock, as
innovative technology users, will lead the new generation of Internet based
businesses.'
ENQUIRIES:
Just2clicks.com plc Tel: + 44 7808 690069
Karl Watkin, Chief Executive E-mail: [email protected]
College Hill Tel:+ 44 207 457 2020
Nicola Weiner E-mail:
[email protected]
Archie Berens E-mail:
[email protected]
NOTES FOR EDITORS:
About Granite Rock:
Granite Rock (www.graniterock.co.uk) was established, by Stephen Birrell and
John Ashbridge, in 1995 to provide services to the International Oil Industry.
Since then, they have built a strong brand and reputation based on innovation
and the effective application of technology within the field of Seismic
Interpretation.
Granite Rock's client base includes Shell, BP Amoco, Total Fina Elf, Conoco.
The company employs 8 staff in Aberdeen and undertakes projects in the UK and
internationally.