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% 20.00p 19.00p 21.00p 20.00p 20.00p 20.00p 0 08:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.8 -0.9 -1.6 - 12.36

Enteq Upstream Share Discussion Threads

Showing 651 to 674 of 675 messages
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
DateSubjectAuthorDiscuss
01/8/2017
21:47
1gw, if you do get to the AGM a report back here would be very welcome.
brugen
01/8/2017
20:11
Entirely reasonable - management here are also backing the story. If liquidity wasn't so bad I'd probably be in
dan_the_epic
01/8/2017
19:32
Fair point on the liquidity, Dan. Having seen the price move when I've bought a relatively small volume, I shudder to think what would happen if I wanted to get out in a hurry! On revenues, I don't know. They disclosed 4 big (10%+)customers in the annual report ($1,222k, $1,030k, $853k and $513k), so together these accounted for about 75% of the total of $4.8m. I'm not sure it would necessarily make much impact in the cash holdings if 1 of them dropped out. Gross margin in FY17 was 65%, so losing the biggest customer ought to take out about $800k of gross margin, maybe offset (in terms of cashflow) by the release of some working capital? They've done a pretty good job on opex with just 19 staff at end-March and a fair bit of equity-based compensation. Of course if they start making significant inventory investments in anticipation of a big contract which then doesn't materialise then that could be more significant. What intrigues me is the jump in revenue from 1H to 2H ($0.7m to $4.0m), with not really any explanatory comment. Clearly if they could add a few customers as the market improves, or even if the $4.0m in 2H is indicative of run-rate then there's potential for a nice bump up in FY18 revenues. Given NTQ is now my biggest holding, I think I'll try to get to the AGM next month and try to chat through some of the basics.
1gw
31/7/2017
20:44
The worry I would have is if revenues fall off a cliff because one large customer doesn't buy in any particular year - that looks like it would leave a gaping hole in cash burn and put a decent dent in the cash balance. Yet at the same time, this looks incredibly cheap if the product is any good, as Brugen says. Liquidity sways this towards just being on my watchlist
dan_the_epic
31/7/2017
10:37
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
24/7/2017
05:29
I bought into NTQ over the last year for similar reasons to 1gw. A high margin of safety in cash in bank plus a likely increase in revenue as rigs increased and cannibalisation decreased. What I don't know however is if NTQs products are any good. If I fancied doing a bit of directional drilling and wanted a new widget would I go to NTQ or could I get better performance and a lower price from Schlumberger. Does anyone here have any industry knowledge on the relative merits of NTQ products?
brugen
20/7/2017
10:21
To me it seems one of the best risk-reward bets out there at the moment. A play on the oil price in general and the US shale market in particular, but underpinned by 20p/share or so of cash & equivalents (plus another 10p or so of net working capital, inventory and property) and a management that appears to have done a great job of preserving that cash through the last year or two. I don't know what the charts say, but this has moved fairly sharply on small volume in the past and I keep expecting the market to wake up to what to me looks like a severe undervaluation. At the very least I would have thought it would be a steal for a competitor at the current sort of price if the worst came to the worst and management decided they wanted to sell out. But as I said before, perhaps I'm missing something.
1gw
19/7/2017
21:17
Why? This probably weakens further before it gets better.
dan_the_epic
19/7/2017
15:55
Me in for yet more. Able to average down at this price of course!
1gw
18/7/2017
17:46
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
17/7/2017
07:34
Encouraging words from Weir in their trading update this morning on the state of the US market.
1gw
23/6/2017
16:30
Well that's a nice surprise, having been out for the day and just now seeing the price. Good rns as well - good to see them preserving the cash with a management prepared to forego salary (or is it bonus?) for shares.
1gw
23/6/2017
16:16
OPEC have sought to drive US shale oil into the ground (forgive the pun) and their agreement to cut back production earlier this year is an admission of failure. But the minute the oil price rises so US shale oil production increases. The Saudis were stupid to take on Uncle Sam in the first place and I dont think Trump and ex- Exxon's Rex Tillerson are going to let them off the hook. https://www.bloomberg.com/news/articles/2017-03-01/exxon-sees-20-annual-growth-in-u-s-shale-fields-through-2025 Lets hope the civilised world sees the benefit of buying shale oil from the US rather than their money continiung to prop up the regimes of evil in the Middle East & Russia.
firtashia
23/6/2017
12:06
Amazing the difference that 53,000 shares bought within 3 minutes of each other can make :o))
rivaldo
17/6/2017
11:04
Possibly further bad news on long term demand for oil services companies The Forward Curve for Oil Prices Suddenly Looks Awful for OPEC, Brent, WTI trade in full contango as consumers fix forward Bearish U.S. stockpile data, gloomy IEA report don’t help (Message received from full article oil prices lower for longer. Not good news) https://www.bloomberg.com/news/articles/2017-06-16/the-forward-curve-for-oil-prices-suddenly-looks-awful-for-opec
pugugly
15/6/2017
13:58
brwo349 - I agree, having now had time to look through them in more detail. A quite remarkable turn round in revenue performance, but with very little explanatory comment in the results, as far as I could see, beyond a comment in the chairman's statement that "market conditions have seen some improvement since the beginning of 2017". 1HFY17 $0.7m revenue (vs $3.0m in 1HFY16) 2HFY17 $4.0m revenue (vs $3.3m in 2HFY16) FY17 $4.8m revenue (vs $6.3m in FY16) So if 2H is indicative of the FY18 run-rate then that sets up FY18 rather nicely. Even better if the turnaround only really came through in the last 3 months of FY17 as per the chairman's comment on calendar year 2017. I also noticed the disclosure of major customers (10%+ of revenue) is fairly revealing. It shows that their 4 biggest customers accounted for about 75% of the year's revenue: $1.2m $1.0m $0.9m $0.5m So a small company appearing to be pretty dependent on a very small number of customers. But great balance sheet, good 2H and to me it really does look well set for any sustained recovery in the US drilling market.
1gw
14/6/2017
11:49
Yep, steady as she goes ready for an upturn. The downside is protected by the very well looked-after cash pile, whilst there's serious upside if and when the sector continues to solidify and cap ex starts to improve. A brief summary from Malcolm Graham-Wood today: Http://www.malcysblog.com/ "An old friend, Enteq Upstream has results today and due to cost cutting and generally careful progress the losses are reduced. The company say that they have retained a ‘sustainable business in difficult market conditions’ and have looked after the cash, they still have $15.3m for sunnier days. Another one to keep an eye on."
rivaldo
14/6/2017
08:38
Very good results. Unexpectedly so. The second half of the year was much better than the first.
brwo349
14/6/2017
07:53
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
14/6/2017
07:44
RNS Number : 9958H Enteq Upstream PLC 14 June 2017 Final results for the year ended 31 March 2017 AIM traded Enteq Upstream plc, the oil and gas drilling technology company, today announces its financial results for the year ended 31 March 2017. Key features -- Cash balances have been maintained -- On-going overhead control, whilst maintaining core competencies resulted in a reduced loss before tax -- Reduced revenues reflect the difficult conditions experienced in the industry Financial metrics for Years ended 31 March 2017 v 31 March 2016 * Revenue $4.8m v $6.3m * Adjusted EBITDA $(0.5)m v $(0.6)m * Loss before tax $1.1m v $4.7m * Adjusted loss per share: 1.7 cents v 3.6 cents * Loss per share: 2.0 cents v 8.0 cents * Cash balance $15.3m v $15.1m Outlook -- Increasing drilling activity in North America is restoring customer confidence, however, capital expenditure remains constrained. -- Investment in technology & business development will continue to enhance the Group's product range. -- Management to maintain focus on cash and overhead control. Martin Perry, CEO of Enteq Upstream plc, commented: "Enteq has maintained a sustainable business through difficult market conditions. Core competencies remain, technical differentiation is being improved and market share maintained. The business is secure and ready to respond to growth opportunities around the world and in North America when market conditions allow." Prospects World oil prices have recently been under-pinned by Russian / Middle Eastern volume agreements which should result in more favorable market conditions for oil and gas companies and their service providers. In North America, through a combination of stable oil prices and increased efficiencies, the shale drillers are maintaining activities which will drive the need for further equipment in due course. Enteq continues to enhance its technology and make gains in establishing new international customers. Tight cost management has led to a strong cash position that give Enteq a platform from which to develop in a potentially recovering market.
masurenguy
13/6/2017
16:00
Tumbleweed blowing through the NTQ trading desks the day before results, so it doesn't look like anything has leaked. While we already know the cash balance at end-year from the 12th April rns, the rest of the balance sheet is unknown, and we know only that revenues and underlying EBITDA were expected to be in-line with the Board's expectations. So something to look forward to, besides the commentary on current trading and outlook given the continuing increase in the US rig count.
1gw
05/6/2017
14:33
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
05/6/2017
12:46
You be careful 1gw, you'll end up owning the whole co :-)I'm waiting to see what they say first before buying some more.
dacian
05/6/2017
11:32
And I presume that's my buy finally appearing in the trade listing - looking like a sell.
1gw
Chat Pages: 27  26  25  24  23  22  21  20  19  18  17  16  Older
Your Recent History
LSE
GKP
Gulf Keyst..
LSE
QPP
Quindell
FTSE
UKX
FTSE 100
LSE
IOF
Iofina
FX
GBPUSD
UK Sterlin..
Stocks you've viewed will appear in this box, letting you easily return to quotes you've seen previously.

Register now to create your own custom streaming stock watchlist.

By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions

P:33 V: D:20170823 00:45:52