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NTQ Enteq Technologies Plc

9.75
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Enteq Technologies Investors - NTQ

Enteq Technologies Investors - NTQ

Share Name Share Symbol Market Stock Type
Enteq Technologies Plc NTQ London Ordinary Share
  Price Change Price Change % Share Price Last Trade
0.00 0.00% 9.75 08:00:05
Open Price Low Price High Price Close Price Previous Close
9.75 9.75 9.75 9.75 9.75
more quote information »
Industry Sector
OIL & GAS PRODUCERS

Top Investor Posts

Top Posts
Posted at 19/11/2023 15:50 by davidosh
A reminder that there is an opportunity to meet the management team...

Enteq will be one of the companies presenting at MelloLondon at the end of this month and they have a stand and will do two presentations on Thursday the 30th November.

The event will take place at the Clayton Conference Centre, Chiswick on Wednesday 29th and Thursday 30th November, where you can expect over 700 investors, 50 Aim listed companies and 10 or so Trusts and Funds.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

For more information, visit
Posted at 20/10/2023 10:02 by pugugly
Reminder, meeting today at 11:00am : ENTEQ TECHNOLOGIES PLC - Investor Presentation IMC
Posted at 17/10/2023 15:15 by somerset lad
It sounded from the AGM statement as though they have one customer signed up for trials (hopefully on terms that roll over into commercial supply if the trials meet specified standards) and IIRC their plan was to get three.

It might make sense to put out a detailed RNS and broker note and do an investor call once they have all three committed and then they can talk about potential earnings from those three if the trials are successful and the level of demand for additional kits (beyond those first six).

Ultimately, they're not trying to raise and management is heavily invested in the shares (Andrew Law took $200k of a total salary of $327k in shares in the last FY) so they may think there's no real benefit in talking now in speculative terms when they should be able to put more flesh on the bones later.

The only curiosities are: (i) the new FD and new non-exec have not been buying post results (although NTQ may take the view that the progress and terms of contracts is price sensitive so they can't deal); and (ii) they're close to failing the hygiene test of basic listed company competence in making an intra-day announcement on the final day for their accounts, making intra-day announcements on the final day of delays to previously stated timetables for results, making an intra-day announcement of the SABER field trial results, and providing no context at all (whether in an RNS or a broker note) for the SABER contract that was announced in the AGM RNS and on any view is highly material to the business.
Posted at 17/10/2023 09:25 by 1gw
I thought we would have seen the announcement of an Investor Meet Company presentation date by now. Perhaps they've been deluged with expresssions of interest in SABER following ADIPEC and are prioritising the business development over investor relations...
Posted at 29/9/2023 06:22 by somerset lad
So we have a commercial contract, which is fantastic! Previously they've suggested that contracts would include provision of the hardware for free for a testing period on terms that automatically roll into commercial terms if the test criteria are met; unclear if this contract follows that plan. No detail yet on the customer or its industry / geography. May get some details in a broker note?

An up to date cash number ($5.1m / £4.17m) as at yesterday is also very healthy, giving an EV of £4.3m for a business with a disruptive technology (30% lower costs, better reliability), a large TAM (c. $2bn) and a moat (the IP). They previously had an overdraft facility with HSBC to fund potential working capital demands as the fleet rolls out; unclear whether this has lapsed.

Still awaiting accounts (I imagine they want the focus on SABER and the future for this morning rather than the historic numbers that have already been covered by the T/S and have little relevance to the group's future; but equally they won't want to go to ADIPEC with the shares suspended...), publication of the results from the US testing (they'd said about Norway that the results would be available a few weeks after testing; presumably the results have been provided to the new customer so I guess it's a commercial decision whether to make them public or selectively release them to commercial targets), a second SABER webinar and an investor webinar (might be useful the week after next post-ADIPEC).
Posted at 07/9/2023 20:44 by p1nkfish
AGM notification. Reads as authority to raise funds.

Hope PI's able to take part, especially those on the register at the date of the AGM.
Oil services sector has been perking up.
US will need to replenish the strategic reserve to some degree and Saudis cutting back.
Posted at 11/8/2023 11:45 by 1gw
The biotech reference at the AGM came from MP in the context of valuation of the business: he was suggesting multiples of revenue or profit didn't make much sense for Enteq which had so much of its future expected value dependent on success with SABER.

What happens with biotech valuations usually (the market for the last couple of years has been a bit odd) is that they work on models of expected value and as potential drugs go through stage gates (pre-clinical, Phase 1, 2, 3 clinical trials, new drug application, approval) those drugs get revalued in analysts' models (and hopefully, for investors, in the market cap of the company) by increasing the probability of success (commercial sales) of the drug.

What we've just seen I think is akin to getting through a major late-stage gate - final technical trials completed with independent survey and expert review and now just the customer acceptance trial to come as part of a commercial agreement. So the probability of success, as far as the market is concerned, should be materially higher I would have thought now. That doesn't seem to be reflected in the current price relative to the pre-announcement price.
Posted at 11/8/2023 10:46 by 1gw
I think a cynic might argue that's how the oil & gas market, if not most long lead-time commodity markets work.

The industry enjoys a brief period of high prices, cash flow booms, C-suites would rather invest strategically than hand cash back to shareholders (or politicians in more centrally-planned economies see a chance to build their personal influence by increasing their budgets), long-term projects are sanctioned, time moves on, demand stalls or previously unavailable supply comes back, too much sunk cost in long-term projects to cancel them, the market starts to fret about over-capacity when the long-term projects come in, prices fall, etc.

So the question on 2028 supply boost would be how much of that is coming from projects sanctioned during the relatively recent oil price spike, and how much is from shorter-term projects which haven't reached a final investment decision? Also how much is coming from cost-advantaged projects (e.g. Saudi) that will still be profitable even if the price comes down?

One of the curious things about recent history is how disciplined US shale producers have been, returning cash rather than chasing production growth. Have they now returned sufficient cash that investors (and maybe even a US government more fearful of further inflation than it is fearful of environmental harm) may countenance a further attempt at growth?

Having said that, forecasts are (nearly) always wrong. From Enteq's point of view, if they really do have a cost-advantaged and uptime-advantaged drilling solution, then higher prices and more drilling are better than the opposite, but the advantage of their technology may be even more apparent to bigger competitors (who ultimately might buy them out) in a low-price environment than in a high-price one.
Posted at 31/7/2023 13:21 by 1gw
Bit of a shambles isn't it, at least on the communication side?

12th April: expect to release results on 20th June
1st June: expect to release results in July
31st July: expect to release results week commencing 18th September

This latest delay blamed on "auditor and company availability and bandwidth in the audit process."

The mid-morning RNS leaves at least a suspicion that by effectively hiding the 1st June announcement in an RNS on the issue of shares, they had forgotten about the commitment until reminded by a grumpy shareholder sometime after 7am this morning.

I find it incredible, having allowed finnCap to publish a report suggesting the US SABER testing would by now be underway, that they don't even take the opportunity of today's RNS to update investors on what the current plan is for this testing.

I hope there is a further RNS very soon with an update on SABER.
Posted at 12/4/2023 07:47 by 1gw
Priced like a high risk early-stage biotech in a depressed market here, with market cap (£7.7m at 11p) not much above proforma cash ($8.5m => £6.8m at £1=$1.24).

Biotechs can trade even below cash because investors know management will keep consuming the cash to develop assets which require huge amounts (and in all likelihood further equity raises) to bring them to market and which have relatively low chances of success.

Here, I would hope the chances of success, in terms of having a viable SABER-based business, are now relatively high (edit: and the need for further spend to bring the product to market relatively low). So we seem to be almost back in the position we were in before SABER spend started in earnest - a high percentage of market cap in cash which appears to limit the downside should final testing show an unanticipated fatal flaw in the product.

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