The Graphene, Graphite and Carbon Nanotube Research Board

[jupp]

Graphene NanoChem gets PlatDril order

2 July 2014 | 07:59am
StockMarketWire.com - Graphene NanoChem has achieved a prominent milestone with the first purchase order for its graphene-enhanced PlatDrill series oilfield chemicals.

Highlights:

· Order from Scomi Oiltools Sdn Bhd for use by a National Oil Company end-customer

· Framework agreement entered into with Scomi Oiltools as announced on 26 November 2013

· Initial deployment and field introduction of 7,800 barrels (approximately 1000 metric tonnes) into a fully-planned four well onshore drilling programme commencing in July 2014

· Purchase Order represents beginning of commercial roll-out following two years of extensive testing by Scomi Oiltools and end-customers

· Purchase Order, together with visibility of future orders under framework agreement, gives management significant confidence of meeting the market's expectations for 2014

· The revenue from the initial purchase order is estimated to be £1.0 million and is payable on delivery

· The Group remains fully funded to carry out its existing pipeline

www.stockmarketwire.com/article/4841389/Graphene-NanoChem-gets-PlatDril-order.html#sthash.De66XW3u.dpuf