Enteq Technologies Share Discussion Threads

[zog] 16/9/2014 11:19

Nice summary by Private-Punter above – the article highlights several reasons why Enteq's fortunes might be about to change.

Another factor to note is that their main drilling rig market in the U.S. has improved during 2014: a good proxy for this is the Baker Hughes Rig Count, hxxp://www.bakerhughes.com/rig-count
These weekly figures provide a useful measure of market activity for drilling service companies and they show that the number of North American rigs has been increasing steadily this year. There are lots of reports/comments on the BHRC figures if you Google, one example (including plots of rig numbers) is here:-
hxxp://marketrealist.com/2014/09/oil-gas-rig-additions-boost-last-weeks-us-rig-count/

In fact, Enteq themselves tweeted on the subject back in August, see "U.S. rig count now double 2009 figures"

Looking at the recent BHRC figures shows that the number of active rigs in the U.S. is up by 10% on this time last year. More importantly for Enteq’s business, the combined number of "horizontal and directional" rigs is up by 17% year-on-year and is now above its peak in early 2012.

Enteq increased like-for-like revenues by 24% during the year to March 2014 in what they described as "a stable North American drilling market"; it will be interesting to see how their revenues perform now that the North American rig market is expanding again.

[closetinvestor] 16/9/2014 08:13

Bought into initial position yesterday too.

[madmix] 15/9/2014 17:45

rivaldo,

It's worth noting that in addition to the 506k volume on the LSE today, there was another 208k traded on ISDX (some of which were mine).

So that's 1.2% of the shares in issue changing hands. Overhangs don't last forever. ;-)

[rivaldo] 15/9/2014 15:36

Excellent article, cheers hastings. I hadn't noticed the Abu Dhabi links of Target Wells before.

Another 456,000 shares traded so far today. Talk about (hopefully!) selling at the bottom...

[hastings] 15/9/2014 14:31

Some thoughts that may be of interesthttp://www.cambridge-news.co.uk/Business/Private-Punter

[cwa1] 15/9/2014 11:08

Decent buying volume but still plenty available even online. Must be a fairly decent sized line being offloaded IMHO.

[cwa1] 12/9/2014 16:22

Great minds think alike?

12 September 2014

Enteq Upstream plc

(the "Company")

Director Shareholding

The Company received notification on 12 September 2014 that Martin Perry, Chief Executive Officer, acquired on 12 September 2014 50,000 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 32.7p per Ordinary Share. Following this acquisition, Mr Perry has an interest in 958,802 Ordinary Shares, representing approximately 1.63 per cent. of the Company's issued ordinary share capital.

The Company also received notification on 12 September 2014 that David Steel, Finance Director, acquired on 12 September 2014 20,000 ordinary shares of 1p each in the Company ("Ordinary Shares") at a price of 32.7p per Ordinary Share. Following this acquisition, Mr Steel has an interest in 68,581 Ordinary Shares, representing approximately 0.12 per cent. of the Company's issued ordinary share capital.

[jaws6] 12/9/2014 12:38

Marben joined you with small to start here.Thanks.

[cwa1] 12/9/2014 12:31

OK, OK!! I gave in and had a few as well. Everyone else seems to. Happy now? ;-)

Seems to be plenty of stock around.

[glasshalfull] 12/9/2014 12:01

...and I'm also back into the stock with a purchase this morning.

Was waiting for the catalyst of a trading update before taking the plunge and felt yesterday's AGM statement v promising.

In good company I see...

Regards,
GHF

[woodcutter] 12/9/2014 12:00

i added yesterday too. I've a few now so will watch the chart now before adding further.

WC

[marben100] 12/9/2014 10:57

Am following the other buyers here and have doubled up my modest holding today @ 32.6p.

[p1nkfish] 11/9/2014 20:07

Am a little overweight here now but tempted.
It looks better now as a business than at float but with substantial discount.

[rivaldo] 11/9/2014 19:01

Cheers sturmey. Amazing how often the institutions dump at the bottom, only to see the very same share instantly jump at least 25% once their own overhang is cleared :o))

It shouldn't be forgotten that NTQ had around £12m net cash at 31st March - this against the current £19m m/cap.

I also took a few more today, and may add more if all goes well.

[sturmey] 11/9/2014 15:58

Rivaldo,

The 25,000 trade at 32.50p at 13.56 (recorded as "unknown") was my purchase.

My broker reports that the shares are well-offered with the likely culprit being one of the institutions which is selling down. The most likely candidate is HARK which notified a drop below 3% recently.

Sturmey

[kannerwas] 11/9/2014 15:56

Well I have just taken 40k of them so we will soon find out.

[rivaldo] 11/9/2014 13:53

There are currently 50k shares available online to buy at a decent discount to the offer price at a 32.68p. Interestingly there's also demand for the shares at 32.2p. Hopefully once that 50k disappears we might see some price rises.

[p1nkfish] 11/9/2014 13:16

Expect management expectations to be better than market so they have a margin of safety. Especially in a small company like this.

Reads very positively.

[rivaldo] 11/9/2014 13:08

A rather encouraging AGM statement just released - perhaps the most interesting part is that last year there was no trading statement at all...

Market expectations are for 2.37p EPS (with 2.92p EPS forecast for next year), and hopefully management expectations are at least the same or better as per usual:



"Enteq confirms that year to date trading had been in line with management expectations. Notable new business has been achieved with customers in China and the Middle East as well as a continued broadening of the customer base in North America.

"The commercial release of a new down-hole data transmission (Pulser) technology has been successful, further increasing the range of Enteq Measurement While Drilling products."

The Company is pleased to confirm that all resolutions proposed at today's Annual General Meeting were duly passed."

[p1nkfish] 05/9/2014 17:00

I see value here that will out in the next 2-3 yrs.

Don't think they have started to address Lat Am yet but there is potential there.

Well under the radar as a company. Quiet PBB.

[sturmey] 05/9/2014 15:51

Rivaldo,

Thanks for mentioning my recent post on MF (under my MF name "Kuronagi")

I have been buying (and averaging down) since my first purchase in November 2013 at 52p. My average price now around 39p.

During this period, I have watched the share price and trading volumes carefully and hypothesise that there has been a constant seller - possibly one of the institutions which bought in at the IPO.

Around January, the IC ran a large positive piece on NTQ which barely moved the share price My guess is that the main seller used this chance to unload more shares.

As the share price fell further, individuals who bought on the IC recommendation may have bailed out thus exacerbating the share price fall.

Over the last few months, we have seen positive news including decent results, progress in China, more director buying including a significant purchase by the CEO and, possibly most significant, notification of a 5% holding by Schroders.

My piece on the MF was essentially about E&P companies and concluding that the risk/reward balance was generally unfavourable. NTQ is a different "kettle of fish". Much of the upside potential is unknown and much reliance is placed on the track record of the management team.

At the current share price of around 32.5p, I think the potential upside is considerably greater than the downside.

[p1nkfish] 04/9/2014 19:53

I've added.

[woodcutter] 04/9/2014 17:35

someone likes them, quite a few buys today............and a decent size sell too.

WC

[p1nkfish] 03/9/2014 19:45

They arectargetting the right market.

[simon gordon] 03/9/2014 16:12

Your Oil and Gas News - 27/8/14:

Enteq appoints Shenkai as new distributor in China

Enteq Upstream PLC (Enteq), a provider of systems and components for Measurement While Drilling (MWD) and directional drilling, has appointed Shenkai as its new distributor in Shanghai.

Shenkai will supply Enteq drilling products, particularly the XXT MWD product line, to the Chinese market.

As a large public company specializing in oilfield products such as mudlogging equipment, Shenkai will provide Enteq with in-country support and will hold substantial stock. In a significant commitment, Shenkai has initially incorporated five Enteq kits into its stock, valued at approximately $2 million.

Martin Perry, CEO, Enteq, said, “We chose Shenkai because of their enthusiasm towards the partnership, their significant size and the sheer range of resources that they have available. With more than 1000 employees throughout China, Shenkai can provide the sales force necessary to penetrate the geographically dispersed China oilfields. We also value the trust, security and transparency incumbent in working with a fellow public company.”

CS Fan, Enteq’s China and South East Asia (SEA) sales manager, will manage the relationship from China. “This partnership will mean a significant presence for Enteq in one of the world’s busiest drilling markets, with huge future sales potential,” he said. “We expect that this relationship with Shenkai will evolve into technical and manufacturing cooperation in the future.”

The partnership with Shenkai is the latest in a number of international deals completed recently, serving to enhance and grow Enteq’s business in China



=====

EDIT - just noticed this was mentioned in the Prelims:

"Enteq has appointed Shanghai SK Petroleum & Chemical Equipment corporation, a publicly listed company in Shenzhen as an exclusive distributor for China with agreement for further co-operation. An initial order, for delivery within H1 FY 2014/15 of approximately $2m has been placed for demonstration systems and initial inventory. "