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% 23.00p 22.00p 24.00p 23.00p 22.50p 23.00p 0 14:00:16
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.8 -0.9 -1.6 - 14.22

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Date Time Title Posts
15/11/201718:04Enteq Upstream plc702
15/9/201506:14*** Enteq Upstream ***2

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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 23p.
Enteq Upstream has a 4 week average price of 21.50p and a 12 week average price of 19.50p.
The 1 year high share price is 28.50p while the 1 year low share price is currently 17p.
There are currently 61,819,682 shares in issue and the average daily traded volume is 18,885 shares. The market capitalisation of Enteq Upstream is £14,218,526.86.
1gw: Well just to be boring I've bought some more - at 20.7p. NTQ now my top holding despite the fall in share price from the highs.
1gw: Well those buys of mine at 28p back in April don't look so well-timed now! Even showing a small loss on my overall holding at the current price. Current share price seems odd to me given approx 20p/share of cash/equivalents, 30p/share of net assets (both at end-March) and what looks to be a fairly encouraging market environment in US shale. I must be missing something, I suppose.
1gw: I was hoping for a better outlook. But, by my calculations there's still about 20p/share cash and 30p/share net assets, so it feels like there's a lot of downside protection in the current share price.
1gw: Well it does sometimes feel that I'm helping to support the share price. But given the net tangible asset value and in particular the cash position, it feels to me like a relatively low risk (for a very low market cap oil services co!). We shall see.
1gw: Some of those buys today were mine. Although the share price has left cash (& equivalents) per share behind (about 20p/share), it is still a bit below tangible net asset value per share (as of 30th September accounts) by my calculations. Which still seems like pretty good value for a business operating in an industry that hopefully is well beyond the cyclical trough and may have a good period of recovery ahead of it.
dacian: Still early days into recovery and should it continue ( I think it will) , at some point we should get news of new work coming through. Until then, the balance sheet will support the share price. Http:// Http://
1gw: That's me buying some more. Still think this looks great value, even after the run-up in share price, given the cash, net asset position and recovery in oil and (especially) gas price.
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.
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.
Enteq Upstream share price data is direct from the London Stock Exchange
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