News & Analysis

Getech Group plc (GTC: AIM) review and analysis

By PSQ Analytics

GETECH Group plc (GTC) is a leading petroleum and minerals consultancy. It provides Services, Data and Studies to assist its clients in making informed and efficient exploration decisions. It is able to provide integrated solutions across a broad range of disciplines, involving both geological and geophysical contributions.

- Services: GTC’s services include the following: Gravity and Magnetic Data Processing and Interpretation; Data Compilation and Management; Training; GIS Services; R&D; Multi-Disciplinary Geology Studies; Airborne Gravity and Magnetic QC/QA; and Remote Sensing.

- Data Licenses: Oil, gas and mining companies license GTC’s data and studies when they are evaluating new exploration areas and/or when they wish to expand their current exploration activities into neighbouring regions. GTC believes it has acquired the largest commercially available library of global gravity and magnetic data – it currently has data from almost every country in the world.

- Petroleum Systems: In 2004, GTC established the Petroleum Systems Group, which has now grown to include a very broad range of geological skills, including, structural geology, geochemistry, petroleum geology, palaeodrainage, palaeogeography, sedimentology and stratigraphy. Helped by the synergies with the original geophysics side, this has now grown to become the major part of the business. The existing geophysics capabilities combined with the unparalleled datasets enable it to provide very comprehensive integrated studies to its clients.

- Competition: While there are competitors that provide similar service projects and products as does GTC, they do not provide them in the same way. GTC believes its wide range of geosciences skills, combined with its global gravity and magnetic data, provide it with an integral advantage. The company also believes its comprehensive,  integrated product offering incorporates more skills and proprietary data than do competitive offerings.

Key recent news

03 December 2009: The Chairman issued a trading statement to the AGM identifying that since July year end, the level of enquiries and sales had started to pick up, the company had won a number of substantial contracts for data and interpretation services, it had pre-commitments for new studies underway and anticipated that sales of geological studies would be significantly stronger than in 2H of 2008/9.

27 October 2009: Released preliminary financial results for the 12-month period ended 31 July 2009.

10 September 2009: A loan facility of GBP1 mn was made available to the company; it is secured by a fixed and floating charge over all the company’s assets.