Enteq Technologies Share Discussion Threads

[alan@bj] 03/10/2014 16:13

NTQ may "have paid big bucks at the top of the market" (I couldn't argue either way about that) but the shares are now worth just 22% of their initial price in July 2011, and it's hard to believe they overpaid by all that much.

[p1nkfish] 02/10/2014 09:04

Granted, but I give them the benefit of the doubt and the Chinese imperative is a world way from the US. NTQ have put considerable focus on preparing product and offerings for China and I think it will pay off.

They are a minnow in a massive lake.

[simon gordon] 02/10/2014 07:55

p1nk,

"NTQ will know their market and constraintes better than the FT."

I disagree with that, NTQ paid big bucks at the top of the market for their acquisitions. One of the reasons Fundies ponied up the cash, when it was a shell, was their track record at Sondex. So far, they've failed and that is why there is a constant stock overhang.

[p1nkfish] 01/10/2014 22:27

It's worth remembering the size of the company vs total available market. When very big in the market there is a tendency to grow and contract at the rate of the market or worse.

A smallie can still grow convincingly if in a large
enough market even if the market is contracting.

NTQ will know their market and constraintes better than the FT.

The US can also throw a curve ball.
As soon as the export ban is lifted watch it go ballistic.

[paleje] 01/10/2014 18:36

Thanks skyship.

[skyship] 01/10/2014 17:25

paleje - a put-through:

Broker agrees with a Market Maker to sell the 750k and immediately buy back at a minimal mark-up, which in this case gave the MM 750,000 x 0.046p, ie £345.

The transaction likely to be:

# either a roll-over by the same investor for financing reasons

# or a genuine transfer from one investor to another

[paleje] 01/10/2014 17:05

Skyship what is a put-through please, excuse my ignorance.

I emailed the company Monday and got a response this afternoon I won't cut& past but I asked about the FT article from last week and if prices were getting to the point of affecting operators' attitudes towards drilling, now or foreseeable, and also if ex US sales would mitigate any such effect. I also asked if we could expect an update this month, I didn't expect specific answers although my q's were specific.

The respondent, who looks after Eastern Hemisphere business, took the time to read the FT article, he thought they were a bit over the top with their assessment and pointed out some factual inaccuracies in their report. He also confirmed that US rig counts are up on a 12 month basis and there is low volatility. The slight softening (his words) of oil price is not significant enough to point to any significant market change at the moment. He also cautioned on being overly focused on oil price as being the sole market driver for their success, there being a broad number of variables which drive activity in their niche.

He made a point of reminding me the agm statement was only 3 weeks old and that their ongoing strategy for internationalising the business is to make them less susceptible to boom bust mentality in the US market long term. He said they envisage issuing an update around the same time as last years so not far away. Overall I didn't get the impression that bad news was on the way.

I also out of interest read an article on Money Week which, apart from opining on oil price movement, includes some interesting tables of breakeven levels for operators on a country by country basis.


I think I'd be inclined to add rather than follow the recent selling but that's just my opinion.

[fozzie] 01/10/2014 17:02

Whatever lets hope this is an end to it.

[skyship] 01/10/2014 17:00

Looks more like a 750k put-through @ 23p & 23.046p...

[rivaldo] 01/10/2014 16:27

1,5m shares through at 23p in 3 trades - end of an overhang (finally?)?

[paxman] 30/9/2014 13:30

Yes cheap relative to cash but Enteq will probably face a director discount.

[firtashia] 30/9/2014 13:09

Chizgreen68- beat me to it! The business is now worth less as a going concern than if it were liquidated, its assets sold and its liabilities paid off. One of Ben Graham's "net-nets". Will buy some more of these but I'm looking to see an uptick in forward earnings estimates first.

[chizgreen68] 30/9/2014 12:41

Soon be able buy business for free after netting off cash.

[1gw] 30/9/2014 11:09

I wonder if the AGM statement has taken the place of last year's 15th October half-year update, so the next scheduled news may not be until the half-year results in November?

Anyway, no reason to sell on fundamentals that I can see given that AGM statement, but a fairly severe tree-shake if that's what it is after a month of flatlining. MMs getting bored with the low volume?

[awesome45] 30/9/2014 11:07

I can buy 150k but only sell 10k. MM's just don't want any stock.

[paxman] 30/9/2014 11:06

I think it's just a fund liquidating. The MMS know this so are bringing the price down to where it may attract new investor interest.

The problem with Enteq is its board of directors' approach to engaging shareholders and potential shareholders. They pay themselves well. Award themselves near zero cost share options after the share price has come off a lot. But:

No Enteq presentation on website.

No presenting at a shareholder friendly investor seminar?

Have a look at Enteq's annual report. Dull presentation. No photos, graphs etc.

One positive: They are engaging with customers it seems. Reasonable product info on the website. New Twitter page.

Anyway, trading near cash. Good value if the board can drink a few Red Bulls, boost their energy levels, and bother to present the company properly.

[cockerhoop] 30/9/2014 09:10

It is a fascinating insight into market psychology, a couple of small sell trades yesterday and the share price gets marked down as MM's already aware of a large seller (facilitating all the buys at 32.64).

This morning nervous PI's believe yesterdays sellers 'must know something' and also head for the exit.

Rimmy2000 i'd be interested to know your reason for selling (and also buying) and what had changed for you between those 2 events.

[rivaldo] 30/9/2014 09:05

Merely a ridiculous price drop by the MMs after a few small sells to cover themselves imho. And then a few PIs are panicked out after stop-losses are breached. And so the circle goes...

The m/cap is now £16m - at the 31/3/ year end NTQ had around £11.5m net cash for starters! Plus around $3.8m surplus receivables over payables.

[cockerhoop] 30/9/2014 08:51

........on no real volume

[cockerhoop] 30/9/2014 08:49

Very strange, September has seen an decent Agm statement followed by some director purchases yet the share price has tanked.

[pugugly] 30/9/2014 08:44

Looks like bad news leaking- I was looking to top up but now message from Mr Market could be time to cut and run.

[cwa1] 30/9/2014 08:25

Ouch! Enteq getting slaughtered here.

[paleje] 29/9/2014 16:32

Cheers Simon, a few lean years possibly then although there would be other views too, I can see how KBC might be insulated or even more demand, not so sure about Enteq, I've emailed them and if I get a view back I'll share it.