Enteq Technologies Share Discussion Threads

[rivaldo] 16/10/2019 10:20

Nice 50,000 share buy at 29p has caused the move up this morning.

[rivaldo] 09/10/2019 14:49

NTQ will be presenting at the Oil Capital Conference on 31st October if anyone fancies seeing them (along with various other companies):

[rivaldo] 07/10/2019 15:08

1gw (or anyone), do you have the email address of the FD or the CEO please? If you don't want to post it on the bb, just email me privately through the ADVFN message facility.

Cheers.

[p1nkfish] 26/9/2019 19:12

Nothing is ever plain sailing.
Survey.

[masurenguy] 26/9/2019 15:35

Cheers Riv - I topped up @28p yesterday although the ADVFN formula showed it as a Sell.

[rivaldo] 26/9/2019 13:38

Brief interview with the Proactive analyst FYI:

[rivaldo] 26/9/2019 10:04

Let's see if this direct link works:



The 66p price target for 2022 (or 49.6p in today's terms) are realistic if NTQ performs as at present. As long as the oil price remains steady at current levels - or above - then these targets might prove very conservative if the new products are successful and geographic expansion continues.

I have great confidence in the management, who've done it all before and whose interests are aligned with ours given their shareholdings.

It was good to meet you 1gw. I thought the AGM went well and the body language/tone of the meeting was upbeat with the appropriate caution.

[1gw] 25/9/2019 15:10

14-page report by Ed Stacey of proactive investors just published.

MP referred to this at the AGM and said that this was in part an attempt to get analyst information on the company into the public domain, as many PI's were unable to access the Investec reports.

In terms of valuation, Ed Stacey comes up with 87% upside potential, based on EV/EBITDA multiples on FY22 estimates, discounted back to today. Lots of assumptions in there of course, not least impressive revenue growth between now and then.

Good to see some numbers and associated assumptions in the public domain, and I would imagine the nearer-term ones (e.g. 2020 estimates) are not going to be a million miles away from the Investec ones, which perhaps gives some idea of "management expectations".

[Edit. see link to report in rivaldo's post below]

[1gw] 25/9/2019 10:14

Yes, good interview. MP doing his best to stir up investor interest, but even today not a huge amount of volume going through.

[rivaldo] 25/9/2019 10:03

Great interview with the CEO...



- "tremendous start to the year"
- "very strong half"
- SW China is making a very big push for shale. NTQ got 3 new Chinese customers in H1, including the one who've put in the big new order
- growth drivers are (1) the new tech products and (2) international sales
- NTQ are also growing in the Middle East and Russia
- Shell have already worked on the new drilling tech product for 5 years, built a prototype and drilled a well with it. But they're not a tech commercialisation company, and they chose NTQ above a number of others to partner with and re-engineer the product and make it even better

[masurenguy] 25/9/2019 09:11

That's the sort of AGM statement that I like to see ! :o)

"Enteq reports that year to date trading shows progressive growth, with the financial performance in the six months to 30 September 2019 likely to show revenues more than 50% higher than the same period last year, with a doubling of the adjusted EBITDA. Both half year revenue and adjusted EBITDA are likely to be ahead of management expectations.

[wjccghcc] 25/9/2019 08:36

Great management. Only issue is the lumpiness of international sales and whether the NA rig count downturn starts to impact the rental business.

[rivaldo] 25/9/2019 08:06

Great stuff - always nice to wake up to a "beating expectations" statement!

NTQ have almost £9m net cash, and are likely to make $1.2m or more EBITDA in this H1 alone.

They also have a number of new products which are no longer blue sky and are making commercial sales. Plus the IP associated with those products.

All this for an £18m m/cap.

[1gw] 25/9/2019 07:09

Good old Enteq. Quite a track record they are developing in beating expectations.

[1gw] 23/9/2019 13:21

I intend to be there. It would be good to see other PI's there - there have been very few at the last 2 AGMs.

[rivaldo] 20/9/2019 14:59

I'm thinking of going to the AGM next Wednesday - anyone else going?

[masurenguy] 10/9/2019 17:48

Enteq Upstream licences Shell's directional drilling prototype

Rotary systems, which provide directional control with continuous rotation, are becoming the go-to for drilling of oil, gas and geothermal wells.

Enteq has taken out a licence from oil giant Royal Dutch Shell PLC (LON:RDSB) to use its intellectual property and other technology in a specialised rotary steerable drilling system. Rotary systems, which provide directional control with continuous rotation, are becoming the go-to for drilling of oil, gas and geothermal wells. Enteq is already an equipment supplier to a number of directional drilling companies. The market for rotary steerable drilling is currently estimated at $1bn, according to Enteq broker Investec, within a global directional drilling sector expected to grow at around 7% a year.

Shell’s IP and the license taken by Enteq relate to an early-stage prototype of a system that will take up to two more years to bring to market. This and some initial payments to Shell will require a total investment of up to roughly $3mln over that period, Enteq calculates, with a subsequent construction of trial and commercial inventory requiring further investment in due course. Shell would be paid royalty payments when the system is being sold commercially.

“The Enteq team has a track record in commercialising innovative engineering projects which have achieved good market share. We look forward to building upon Shell's innovative work to date in order to bring an exciting new product to the directional drilling market.” said the company’s chief executive Martin Perry. Enteq, which last year returned to underlying profitability on strong revenue growth, said in June that its targets included the introduction of new products, building technology partnerships and broadening its addressable market.

[1gw] 10/9/2019 12:31

The Shell deal gives us something to talk about at the AGM then.

[1gw] 29/8/2019 09:34

We seem to be heading down to what looks like "silly" value territory again at 23p bid (and a trade going through at 23.1p).

$11.9m cash at 31/3/19 is equivalent to 14.9p/share at £1=$1.22 isn't it, using the current 65.5m shares in issue? And if you add in the receivables and inventories net of liabilities (again as of 31/3/19) you get to 19.7p/share by my calculations. That doesn't leave much value in the shareprice for the actual ongoing business. I know rig count has been heading down, and even Colorado (Enteq have talked about success in the Rockies region of Colorado) took a hit in the latest week, dropping from 32 rigs to 28 rigs according to BH, but even so.

[1gw] 23/8/2019 20:55

Big fall in rig count.

[masurenguy] 14/8/2019 17:08

New shares issued constitute a 2.4% dilution.

14 August 2019
Enteq Upstream plc

Issue of shares and Director/PDMR Shareholding

Enteq, the oil and gas drilling technology Company, announces that on 13 August 2019 it issued and allotted 1,603,217 new ordinary shares of 1p each ("Ordinary Shares") to the Executive Directors and a senior manager in compensation for remuneration due. These new Ordinary Shares issued to the Directors were as follows:

Total holding after issue
Number of Number of % Enlarged
new Ordinary Ordinary issued share
Name Shares issued Shares capital

Martin Perry 611,866 3,344,413 5.11%
David Steel 197,067 1,001,218 1.53%

[p1nkfish] 10/8/2019 09:37

Well theres a less than common occurence.
A thoroughly civil exchange on a PBB.

[masurenguy] 10/8/2019 08:44

No need for any apoIogy since I was not offended at all. Sometimes it is difficult to differentiate a whimsical comment from an unsolicited sarcastic one ! :o)

[fozzie] 10/8/2019 06:29

Apologies it was meant to be tongue firmly in cheek and not at all offensive.

[masurenguy] 09/8/2019 17:09

Just stating the facts - I don't ramp shares ! If you have an informed contrarian view then I'd be very interested to read it.