RNS Number:5634Q
Plexus Holdings Plc
01 February 2007



Plexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services

1 February 2007

                Plexus Holdings PLC ('Plexus' or 'the Company')

                   New Contract with Talisman Energy Norge AS


Plexus Holdings PLC, the AIM quoted oil and gas engineering services business,
has signed a contract with Talisman Energy Norge AS ('Talisman'), subject to
completion of relevant contract terms, to supply the Company's proprietary
POS-GRIPTM wellhead systems for use in the Norwegian North Sea.


Talisman will utilise Plexus' exploration rental wellhead equipment, mudline
suspension equipment and service support. Whilst the pressure rating of the
wells being explored are rated at 10,000 psi, Plexus is supplying its standard
15,000 psi High Pressure/High Temperature ('HP/HT') equipment as it is
compatible with the modern drilling rig being used, which has an 18.75 inch
Single Stack 15,000 psi blow out preventer ('BOP'). The Directors believe that
Plexus' equipment offers both flexibility for the latest generation drilling rig
and the best technical solution to be able to run in conjunction with the BOP.


This agreement demonstrates the Company's strengthening relationship with
Talisman and the Directors anticipate that further equipment will be supplied to
Talisman in the future. The oil exploration drilling programme is expected to
commence in late 2007 and continue into 2008, generating initial revenues in
financial year 2007/2008 of approximately #350k. The Directors believe that the
value of the contract could rise to #1.5m.


Plexus CEO Ben van Bilderbeek said, "This contract is an extension of previous
business activities with Talisman and is the first HP/HT 18.75 inch system that
will be supplied by Plexus to them. It is particularly important to note that we
can demonstrate time cost savings using our proprietary POS-GRIP equipment by
not having to remove the BOP to run the casing. We believe this was a key factor
in our wellhead system being selected for this drilling programme."


                                  * * ENDS * *

For further information please visit www.posgrip.com or contact:

Ben van Bilderbeek Plexus Holdings PLC        Tel: 020 7589 8555

Graham Stevens Plexus Holdings PLC            Tel: 020 7589 8555

Isabel Crossley St Brides Media & Finance Ltd Tel: 020 7242 4477


Notes

Plexus Holdings PLC

Plexus, which began trading on AIM in December 2005, is an established oil and
gas engineering, and services business based in Aberdeen, with an office in
London and a presence in Houston, Texas. It has developed and patented a method
of engineering for oil and gas field wellheads and connectors, POS-GRIPTM, which
involves deforming one tubular member against another to effect gripping and
sealing.


POS-GRIP wellhead systems have to date been used in around 100 oil and gas wells
by international companies including BG International, BHP Billiton, BP, Brunei
Shell Petroleum, ConocoPhillips, Gaz de France, Global Santa Fe, Maersk,
Petro-Canada Trinidad & Tobago, Repsol, Talisman Energy, Tullow Oil, and
Wintershall.

The Group plans to accelerate the roll out of POS-GRIP technology as a superior
alternative to current wellhead technology. It has particular advantages in HP/
HT oil and gas environments for which there is increasing demand throughout the
world. The Company's long-term goal is to develop POS-GRIP technology as the
future industry standard for wellhead design. This objective includes the
distribution of POS-GRIP technology through licensees to maximise market
penetration.


Talisman Energy Norge AS

Talisman is a wholly owned subsidiary of Talisman Energy Inc, the independent
upstream oil and gas company, which has a duel listing on the Toronto Stock
Exchange in Canada and the New York Stock Exchange in the US (TLM). Talisman
Energy Inc and its subsidiaries have operation worldwide including in Canada,
the North Sea, Southeast Asia, Australia, North Africa, the US and Trinidad and
Tobago.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

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