||EPS - Basic
||Market Cap (m)
|Oil & Gas Producers
Enteq Upstream Share Discussion Threads
Showing 551 to 574 of 575 messages
|thanks for the reply
keep me busy for a while
although i see we already have quite a few in common|
|You can see volume on here
|Also picked a few up today following rivaldo's highlighting the volume.
Not sure whether this interesting read from last month has been posted before, so apologies if that is the case.
Interested to know what other stocks you are into at the moment|
|Surely it's the price of oil improving?
Market Watch: "Oil prices traded sharply higher on Thursday, getting a boost from indications that major producers are cutting back output, strong demand growth in China and a slide in the dollar.|
|Maybe a tip out there we don't know about ? very nice finish to the day anyway :-)|
|Agreed re your post 562 1gw. Consistent buying this afternoon indicates to me more than just someone "seeing what happens"!|
|And now someone buying at 23p. What's going on? Someone now short of stock or just seeing what happens if they move the price up?|
|I think a key difference between Enteq and most (if not all) of the other service companies is the huge cash pile that Enteq holds relative to its market cap. Which suggests to me that the underlying business is valued at not much more (or perhaps even less) than breakeven in perpetuity and so I would have thought that the share price ought to be more highly geared to any positive change in sentiment regarding the prospects of the underlying business.|
|Interesting - two large trades of 2.24m shares at 19p, and an immediate tick up. Clearance of an overhang?
NTQ seems to have been left behind in the revival of oil service stocks. Perhaps this is the start of a further rerating.|
|Three separate fracking projects could finally start in the UK this year. Excellent prospects for NTQ perhaps:
"Three separate fracking projects could crank into action this year as Britain’s shale gas industry finally gets off the starting blocks after years of delay, according to industry chiefs.
Hydraulic fracturing at a site in Kirby Misperton, North Yorkshire, could start within weeks after a judge rejected a legal appeal by environmental campaigners and residents to halt the project, led by Third Energy, just before Christmas.
Activity at the site in North Yorkshire could start within weeks. Two other operators — Cuadrilla Resources and iGas — hope that they will be able to start operations at sites in Lancashire and Nottinghamshire this year.
A proposal from Cuadrilla to drill four wells and frack for shale gas at a site near Blackpool in Lancashire is well advanced. Planning consent has already been granted and Cuadrilla hopes to finalise plans for the scheme by the end of this month, said the company’s spokeswoman Jacqui Reid. “We hope that we can finally get going,” she said, adding that she expected fracking to start this summer."
"Tom Pickering of Ineos Shale, another operator with licences across the East Midlands and Yorkshire, said that the group planned to submit applications to drill about 10 exploratory wells. He said that it planned to invest £500 million in shale development."|
|Looking strong at present and moving up on small buying - not much stock around perhaps.
The m/cap is still well below the cash pile.|
|Looks like OPEC is giving US frackers the green light, a few dollars/brl more and they'll be piling back in, then up goes production reversing any benefit from OPEC cuts and the price falls back shooting both OPEC and the frackers in the foot:) At least until demand increases, we don't know about that yet.
All I can say is get in there guys and get some equipment sold pronto.|
|Yes that's pretty much how I see it, Che7win.
But in capping the upside (price wise) they are shooting themselves in the foot because then need higher prices to make fracking sustainable. It's catch 22. So I can see possible near term more business for NTQ but medium-longer term not so clear. Just my opinion, Mr Trump could surprise either way.|
Trump it is thought is positive for US oil production, he has made some blunt statements about Saudi imports. That should be positive for NTQ, but would not help the wider oil price if it encourages US production.
Saudi are going to push through some kind of fudged OPEC deal, but you got to wonder for their long term plan - US fracking is going to cap the upside.
NTQ is well placed going forwards.|
|If US frackers storm back into production en masse, won't they risk recreating the same over-supply problem that OPEC is looking to cure? There must be a balance somewhere but I don't see the US volunteering to cap production, admittedly there could be higher demand if Trump's growth plans work out but there are lots of ifs imo.|
|Nice buying today, perhaps on the positive OPEC noises - and new recent highs.
The £10.9m m/cap is still well below cash however, let alone the other assets outlined in above posts - or with anything at all for the business itself.
che7win, perhaps they could rent part of the 30,000 sq.ft facility out, but presumably it would have to be relatively short-term in case of a return to sizeable production, which would be offputting to potential tenants. Perhaps best to email the company and ask them directly.|
could they not rent out part of the manufacturing facilities or is that just unfeasible for the short term? Even if it was just for storage facilities surely they could leverage that asset.
I guess the market is expecting no turnaround in prospects in the immediate future.
It does look undervalued at this price to me, and cash is being received as the working capital diminishes for now.
They also have opportunities to buy distressed assets if they so chose? Would they consider that?|
|In the annual report, the "land and buildings" is mainly buildings ($1.8m nbv at 31/3/16) rather than land ($0.5m), so question what manufacturing facilities would be worth in a prolonged downturn.
But all the same, I am still puzzled by the apparent disconnect between assets and market cap. As I read the accounts Enteq has:
$15.2m cash & equivalents
$ 0.7m working capital ($1.6m receivables, $0.9m payables)
$3.0m property plant and equipment
Again, as I read the accounts, in the half they reported $1.2m of "cash and shares" admin expenses (i.e. $1.46m less $0.03m forex less $0.23m D&A). They also spent $0.5m on inventory.
So even allowing for a lot of bad debt in the receivables it seems to me the basic cash +/- working capital gives them comfortably more than the c. $12.8m market cap (60.5m shares x 17p/share x 1.24 xrate). Then you have the inventories and property, plant & equipment (not to mention intangibles) for nothing.
Neil Warner stepped down in September so that will help a bit with admin expenses going forward.
So it all feels like a no-brainer - shares at this price appear to discount the business not recovering for a long time - which makes me feel I must be missing something. I suppose if they really had to shut everything down and pay off remaining staff there would be redundancy plus maybe some remediation works required on closure of manufacturing facilities? But that seems an extremely pessimistic scenario to me.|
|Interims out today - the cash pile is actually UP to around £12.2m (well ahead of the £10.3m m/cap).
New contract in Saudi Arabia sounds promising, and H2 will apparently be better than H1 was, though revenues will be lower than prior expectations.
Worth noting that NTQ also own $2.5m (at cost) of land and buildings as outlined in the narrative today:
Management have done a superb job in hunkering down. There are glimmers of light, but recovery is going to take a while - unless the global opportunites NTQ talk about start to come through.|
|Interims on Friday. Looking forward to seeing the commentary on US rig activity - how long do they think before business picks up there again, or are they already seeing signs?|
|Keeps nudging higher....|
|Nice very nice , great bargain here even if management just maintain the status quo, had another top up recently.|
|Allianz increasing ownership.|