17 October 2006
Offshore Hydrocarbon Mapping Plc ('OHM' or 'the Company'): Preliminary Results for the Year ended 31 August 2006
[extract]
 Turnover doubled to £10.4 million
Operating profit trebled to £2.9 million
Losses halved to £1.8 million
Cash balance of £3.4 million
Record order book
Earnings per share (5.94)p 2005 (12.77)p
Dr. Pierre Jungels said:
"I am delighted to report that your Company has made enormous strides in the last twelve months.
We have taken the application of the Controlled Source ElectroMagnetic imaging technology much further than considered possible just 18 months ago, applying it effectively over prospects located in shallow water situations and surveying successfully in areas of increasingly complex geology.
We have also conducted surveys in new areas for new clients. Crucially, in terms of industry acceptance of the technology, we are undertaking work and receiving enquiries for the whole range of upstream explorers, from the supermajors, through majors, to large, mid-sized and junior E&P companies.
Our offering has been widened and deepened through our continuing Research & Development and real life operational experience.
Since our first commercial survey we have tracked the pre-drill expectations from CSEM with actual outcomes. Drilling results have been consistent with our prognosis in every case."
Enquiries:
Offshore Hydrocarbon Mapping plc
www.ohmsurveys.com
Dave Pratt Chief Executive Officer 0870 429 6581
Aquila Financial Limited
www.aquila-financial.com
Peter Reilly 020 7202 2601
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