Share Name Share Symbol Market Type Share ISIN Share Description
Enteq Upstream LSE:NTQ London Ordinary Share GB00B41Q8Q68 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 23.50p 23.00p 24.00p 23.50p 23.50p 23.50p 2,000.00 08:00:01
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 4.4 -3.2 -5.6 - 14.27

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Date Time Title Posts
17/3/201714:58Enteq Upstream plc595.00
15/9/201507:14*** Enteq Upstream ***2.00

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Enteq Upstream (NTQ) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
2017-03-29 15:26:2723.502,000470.00O
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Enteq Upstream Daily Update: Enteq Upstream is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker NTQ. The last closing price for Enteq Upstream was 23.50p.
Enteq Upstream has a 4 week average price of - and a 12 week average price of -.
The 1 year high share price is - while the 1 year low share price is currently -.
There are currently 60,711,629 shares in issue and the average daily traded volume is 0 shares. The market capitalisation of Enteq Upstream is £14,267,232.82.
1gw: 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.
che7win: Yaz, The business here has been curtailed, what with employee numbers nearly halved. However, assets underpin the share price. Please elucidate.
escapetohome: The oil and rig activity seems to have gone up a little. Lets hope this translates into a few more little share price increases. I wonder if the charts still fair well. From the look of the chart it would not go amiss another small uptick. Not being greedy here.
hugepants: Well there's certainly a few years of losses factored into the share price. Based on the H2 results current annual losses look to be about 1.5p per share. But at the current exchange rate there's net working capital of 26.5p including 19p of cash. There's also about 3p of US property assets. So at current 14.5p share price there's a big margin of safety here. I think its a real plus that the largest shareholder is a value fund, Hawkwood with 8.5%. All too often when you find a stock that looks this cheap it has a controlling shareholder with 40% of the company.
hugepants: I think you may have moved the share price Arthur.
1gw: Vague signs of life in the share price?
paxman: p1nkfish, remember the share price fell 70% whilst oil was over $100 and industry demand for Enteq type products was strong. Enteq's board successfully sold an IPO story at a high price but investors were on the wrong side of that story buying in 2011 at 100p. Enteq's story at IPO was Sondex. Sondex listed at 100p in 2003 and was bought by GE at 460p in 2007 which was similar to the increase in the oil price over that period. Enteq management's 'good job' at a 'maximised price' in time was at the expense of shareholders. Our only possible relationship with Enteq is as shareholders. The only upside potential going forward is for Enteq to significantly reduce admin costs so as to be cash flow positive in the current environment and hope the oil price and demand recover. Then sell the company at 30 p a share to a corporate playing the oil price upside.
paxman: p1nkfish, you mention Enteq management's last company ( Sondex). The bad news for Enteq's shareholders was this was built up and sold during the great oil and gas price rises leading up to its exit in 2007. So they were successful there - company value wise - but with Enteq they're operating in the opposite environment, oil and gas prices falling. Enteq has been a leveraged play on energy prices due to high administration costs relative to its gross profits so shareholders are left with the stub end of the value after company employees and directors take their cut. Positives - they've maintained cash since September at $14 m. Also costs are being looked at. Maybe the fund which bought in big recently had a look at the books and are putting pressure on management to cut costs. On has to wince at these investment shops touting high share price targets and also their timing. Investec's 64p of a couple of days ago! All analyst share price targets should have the disclaimer 'A lot of the time we are completely wrong. We need commission to live. In our industry we talk our own or a favoured client's book from time to time so be careful.'
paleje: P1nkfish, I agree with your comments post 351, about increasing efficiency and lowering production costs, it's happening. Saudis are playing a dangerous game, they can't rely on China either, China has started buying from Latin America and want to develop their own shale potential too. While the price game plays out, drilling continues and increases. Plexus Holdings has issued good numbers and management remain bullish, their view being the lull is temporary, demand will continue to increase and support services with it:- By Harriet Mann | Wed, 29th October 2014 - 14:08 Plexus profits surge creates excitementPlexus Holdings' (POS) "David and Goliath" story continued mid-week, as record full-year results continued to rejuvenate the share price of the oil and gas engineering services firm. Though the sector has struggled of late, hit by a plummeting oil price, finance director Graham Stevens is upbeat and focused on the long-term. The group rents and sells its POS-GRIP friction-grip exploration wellhead equipment for high-pressure/high temperature wells all around the world, including to big names like BG (BG.), Statoil (STO) and Tullow Oil (TLW). A new subsea wellhead design, which is a joint industry project and is expected to have a prototype planned for 2015, made significant progress during the period. Revenue hit £27 million, up 6% on last year, which Stevens describes as a "tale of two halves". UK income was flat, but leapt by 17% in the Rest of the World. "That is of no surprise to anybody because we know that the North Sea has not been particularly active over the last few years, and that is a source of concern for the industry," said Stevens. He looks forward to the release of the government's Fiscal Review at the end of the year, which should introduce tax breaks to boost North Sea exploration, which will benefit Plexus. But the company is pressing ahead with expansion elsewhere, including plans to build an Asian business hub. Cash profit in the year to 30 June rose by nearly 20% to £9 million, with pre-tax profit jumping by a quarter to £5.4 million, giving earnings per share (EPS) of just over 6p. With post-tax profit up by 65% to £5 million, Plexus is benefitting from tax breaks due to research and development and Patent Box tax regime. Of course, with oil prices at a two-year low, investors are concerned about the impact on oil services providers. While Stevens doesn't play down the risk, he notes that there are both short-term and long-term effects, and he has his eyes kept firmly on events further ahead. "Yes there might be some areas of activity - which we are not actually in - that could be hit, then there could be a general hit - some of those factors could be Ebola, general worry about Chinese demand, slowing down in Europe. But one thing is for sure, general demand for conventional oil and gas is not going to go anywhere soon. With the rising population becoming more industrialised, demand is going to remain. So what is more interesting is not what is going to happen to demand, but with supply." "None of us have a crystal ball, but we can look at the macro events and there are always going to be bumps along the road... but over the long term the demand for oil and gas is going to continue to increase," he added. Echoing this sentiment, stockbroker Numis downgraded its near-term valuation of Plexus to an EV/EBITDA multiple of 8.7 times for 2015, in line with the sector. Its sum-of-the-parts valuation falls to 350p per share from 372p, still 38% above the current share price of 254p. This article is for information and discussion purposes only and does not form a recommendation to invest or otherwise. The value of an investment may fall. The investments referred to in this article may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
sturmey: 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.
Enteq Upstream share price data is direct from the London Stock Exchange
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