Getech Group signs contract for delivery of its US gravity dataset
Getech (AIM; GTC), the geoscience business specialising in the provision of data, studies and services to the oil, gas and mining exploration sectors, announces it has won a new contract with a total value of $500k for immediate delivery.
The Company stated that, as anticipated, it has signed a further contract for delivery of its US gravity dataset at a price of $500k, for immediate delivery. The income from this sale will therefore be recognised in the current financial year. This client had already purchased a substantial part of the dataset prior to the major upgrade by Getech in 2012 and 2013. Under the current sale the client will receive the upgraded onshore US dataset.
Raymond Wolfson, Chief Executive of Getech Group plc, said: “This sale is to an existing and technically knowledgeable client and is the third major sale we have reported out of this dataset. It is also of note that, while many clients work in both conventional and unconventional resources, we believe this client currently only operates in unconventionals.”