Enteq Technologies Share Discussion Threads

[1gw] 29/9/2020 07:09

Could have been worse.

"Satisfactory trading recovery" and 1H revenue & adj EBITDA in line with management expectations. Cash down to $8.8m (still about 10p/share by my calcs), with reference to investing in working capital which suggests business is growing again. Suggestion of potential follow-on orders in China.

I'll take that.

[rivaldo] 26/8/2020 08:41

Shell's deal with Egdon Resources yesterday "to appraise two licence areas in the southern North Sea just off the coast of Scarborough" could be interesting for NTQ:



- it's with Shell, with whom NTQ already have a promising relationship
- it's in the UK, so obviously NTQ have a geographic advantage
- most importantly given NTQ's expertise in horizontal drilling:

"The companies now believe that modern techniques using horizontal drilling mean that the fields can be developed, Mark Abbott, 59, Egdon’s chief executive, said."

[p1nkfish] 25/8/2020 23:24

Very interesting day of trading in NTQ.

Looks positive on buy vs sell vol, vol vs average, new adds looking for a profit on their buy price going forward etc.

Lovely.

[1gw] 24/8/2020 20:53

Welcome aboard!

[oliversydney] 24/8/2020 09:56

Just seen the presentation and impressed so bought some at just over .14 which looks attractive entry price and also encouraged when directors but stock

[p1nkfish] 22/8/2020 23:36

Always worth a quick look for the latest.

[p1nkfish] 22/8/2020 20:04

Baker H recent report - there was massive rig reduction over past year we all know about but recent uptick in count in US and Canada. May have bottomed.

[sturmey] 22/8/2020 14:26

As a long-term (since November 2013) and long-suffering holder of NTQ, I watched Martin Perry's presentation with keen interest. Having read every (or almost every) RNS over the past 6+ years and scrutinised them (generally in vain)for any sign of "green shoots" emerging, at long last I have become significantly optimistic. The last set of results seems to have included substantial "kitchen sinking" and write offs such that both the book and tangible NAVs indicate a PBR of 0.75. I could go on longer but I commend Martin Perry's presentation. As a related aside, Perry's comments about the state of the US shale oil industry (at the very end of the presentation) support a bullish view of the oil price.

[rivaldo] 21/8/2020 11:49

The presentation is online now here. Ta for the summaries above, haven't had a chance to hear it yet so will try later today:

[p1nkfish] 21/8/2020 11:14

The potential upside here is such that patient buyers can afford to wait and still get a very respectable (very good) CAGR even if it takes 3-5 years.

I think it will take less than that imho.

[brugen] 21/8/2020 11:14

Thanks,1gw

[p1nkfish] 21/8/2020 11:07

Big question for me is "Do I trust management."

Answer for me is YES.

Under valued, management with skin in the game I trust, management with experience, management realistic about what they face.

I dont think they will risk much and aquisitions will be further enhancing if they occur.

[1gw] 21/8/2020 10:43

Not really. There was a box on one of the slides saying "Further acquisition opportunities to strengthen product offering" but not a lot of discussion around it.

[brugen] 20/8/2020 21:43

1gw, thanks for the report.
Did you get any feel for the size of any aquisitions? Are we talking about simple and cheap or complex and expensive.

[p1nkfish] 20/8/2020 21:30

No sell-out, he was annoyed at the valuation and I liked that Shell had spent millions on the tech NTQ now have access to. Not easily replicated and offers leading capabilities.

NTQ can make an excellent living off the Schlumberger/Baker Hughes excess margins and offer a better set of products too.

Geothermal sales to Icelend and West Indies.

Always like to hear a CEO be very realistic about the markets his company operate in and there was no BS from him on the call - good.

[1gw] 20/8/2020 19:10

Pretty good presentation. Surprisingly upbeat and surprisingly dismissive of the prospects of a US shale recovery I thought. So I read that as firmly focused on international growth, especially when the Shell technology gets going - with field trials slated to start next year. I think there was an implication that they're looking fairly seriously at spending some of the cash on "bolt-on" acquisitions, taking advantage of current depressed valuations to pick up some technology that can enhance their offering and addressable market.

And MP seemed genuinely and reassuringly "upset" at the market valuation of Enteq given the strength of the balance sheet, the track record of the team, the quality of the technology and the prospects for international growth.

[rivaldo] 20/8/2020 11:52

Great to see a second director buying shares on the open market, with this one almost doubling his holding.

Incidentally, Investec's Buy note at 15.5p post-results retains their 44p target price.

[dolittle1] 20/8/2020 10:52

Well done, guys.

[p1nkfish] 20/8/2020 10:46

Good to see. I'm expecting some Geothermal interests to show too to help diversify targets.

[netcurtains] 20/8/2020 10:29

thats right Director Buy... (today)

[1gw] 20/8/2020 10:16

Good to see another insider buy. I've also added again.

[1gw] 20/8/2020 10:10

It starts at 6pm, so after today's close.

[netcurtains] 20/8/2020 10:00

I guess buying before or after Virtual Forum. Is the meeting about to begin?

[p1nkfish] 19/8/2020 18:47

I would but have enough already.

[1gw] 19/8/2020 17:58

I was again responsible for a fair bit of the declared buying that I can see. Clearly there was some selling today as well.

Hoping MP can do the business tomorrow evening and fire up some investors to join me on the buy side!