Enteq Technologies Share Discussion Threads

[eezymunny] 13/11/2015 10:00

Maybe need to think if inventory will be written down at some point given that they're not selling much and inv's now are > annualised turnover. Also some risk with receivables if the shale drillers start going bust. Even so they've done well given the desperate market conditions.

Even if you take an axe to inventories/receivables/PPE you might get a TBV of c. $18m or £12m or c 20p/share. Current annualised losses at c. 3p/share.

Not for me (having lost a few bob on these before!) but deffo one to watch if it looks like there's a future for shale (who can guess, really?).

[firtashia] 13/11/2015 09:23

This one's a Ben Graham stock, trading on less than 2/3 of its net net working capital. He probably wouldn't have bought in because its too small & doesn't pay a divi but if you believe in the management & are prepared to let your money do nothing for a while then when the sector picks up this will fly. I reckon CAPD is in the same sort of boat in the mining sector (think this pays a divi though & isn't as cheap). GLA.

[rivaldo] 13/11/2015 08:50

Agreed. You have to give the management credit in acting so decisively.

It's amazing that with revenues plummeting from $14m to $3m year-on-year, NTQ have emerged in such a (relatively) comfortable position, with £9.5m net cash compared to an £8m m/cap and trading at almost EBITDA break-even.

Plus there's a $2m excess of trade receivables over payables and S3m of tangible PPE, including $2m of Buildings.

[timtom2] 13/11/2015 08:47

Poor market to sell into but they are managing the company very well.
Hats off to their ability to adapt and survive.

[cockerhoop] 13/11/2015 08:07

They've basically moth-balled the company, tiny sales, taken an axe to costs, managing the cash. At some point this will become a bargain and the rig count will tell us when.

[1gw] 04/11/2015 08:06

Vague signs of life in the share price?

[rivaldo] 15/9/2015 07:52

Agreed.

The cash pile is actually increasing - up to around £9.5m, compared to the £7m m/cap.

And underlying EBITDA is in line with expectations.

[p1nkfish] 15/9/2015 07:15

AGM statement shows management are on the ball. Good.

[p1nkfish] 15/9/2015 07:14

AGM statement shows management are on the ball. Good.

[spob] 19/8/2015 11:35

13p, Mcap 7.7m, Nos 59.2m

[paul the octopus] 24/7/2015 15:26

wtf going on here, so depressing...

[rivaldo] 16/6/2015 08:33

Results out. Obviously not great, though one nice positive is the increasing international sales.

However, it seems that cash has actually increased since the year end to $14.8m, from $14.1m at 31/3.

Cash plus excess debtors over creditors is around £11m at the year end, which alone is more than the current £9.7m m/cap.

Amazing to see overheads reduced by a whopping 43%. The management appear to be doing the right things here.

Steady as she goes, and lots of upside if NTQ come through this downturn the other side.

[p1nkfish] 14/5/2015 20:30

China will help. They want to get as much energy as they can as close to home as they can.

[rivaldo] 10/5/2015 17:43

As well as the new product in post 459 above, NTQ have introduced the following as well:



"New Software Release v2.40 of xxMWD-PCSuite
May 04 2015 .

Enteq Drilling is please to announce the release of version 2.40 of it xxMWD-PCSuite

The upgrade has brought significant modifications and new features including a new "sequence wizard" to simplify the construction of sequence strings and the definition of telemetry formats for generic and virtual variables.

etc"

[1gw] 08/5/2015 16:32

The market makers don't mess around on this one do they? No movement for weeks and then over 10% in one afternoon.

[p1nkfish] 30/4/2015 23:08

This is when management show their quality and I do rate this bunch. Holding although likely to be a while to see upside.

[rivaldo] 29/4/2015 14:38

Agreed. The cash pile represents just over 15p per share, and seems to be being well protected, especially with further cost reductions having been implemented.

The overall background is obviously poor, but it should only take a small recovery or a bit of contract news to spark quite a large recovery given the core business is hardly in the price at all. Especially following the recent first sales into the Chinese and Middle Eastern markets.

[fozzie] 29/4/2015 08:44

Yes i agree with that, pretty good in the circs. Surprised no interest here.

[1gw] 29/4/2015 07:21

TU a bit later than I expected! Revenue in line, positive underlying ebitda and cash stable.
Pretty good, considering...

[1gw] 14/4/2015 09:09

I'm hoping most of that is already built in to the price. Could be a TU tomorrow, going by last year?

[mega_trader] 13/4/2015 16:24

rig count down again, can see that remaining subdued for the rest of the yea, so not good for ntq imo.

[paul the octopus] 18/3/2015 15:24

these will be taken over soon, reminds me of KENZ