Gulf starts at Sheikh Adi-2 25/05/2012
Iraq-focused oil explorer Gulf Keystone Petroleum (GKP) has begun drilling at the Sheikh Adi-2 well in the Sheikh Adi block.
South Africa deal cheers SerVision
As foreshadowed here, digital security systems concern SerVision (SEV) has clinched a $2 million (£1.25 million) distribution contract with Graphic Image Technologies of South Africa. The deal, for an initial two years, involves the import and distibution of Israel-based SerVision's range of 'video gateway' products in South Africa, Namibia, Botswana, Lesotho, Mozambique and Swaziland.
Graphic is committed to place orders totalling $2 million for remote monitoring specialist SerVision products, including fixed and mobile commercial systems, home security and body-worn camera systems. AIM-quoted SerVision has received a first purchase order worth $150,000 for an initial shipment and says it expects Graphic to place orders for half the contract total by next June.
SerVision, steered by chairman, chief executive and significant shareholder Gidon Tahan, boasts patented video compression technology, which allows high quality, real-time Close Circuit TV transmissions to be streamed seamlessly across mobile phone networks.Targeting potential users such as police forces, public transport and taxi companies abd cash-in-transit movers, the company, which lifted net profits 232 per cent to $641,00 (£400,000) last year, sats it anticipates an acceleration of orders from around the world in the months ahead.
Highlighted by Growth Company Investor at 6p two days ago, SerVision shares, which have traded between 13.75p and 5.63p over the past year, now change hands at 7.13p, up 1p this morning and valuing the company at £3.6 million. They could still reward a punt.
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