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% 22.00p 21.00p 23.00p 22.00p 21.50p 22.00p 0 11:00:25
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 3.8 -0.9 -1.6 - 13.60

Enteq Upstream Share Discussion Threads

Showing 676 to 700 of 700 messages
Chat Pages: 28  27  26  25  24  23  22  21  20  19  18  17  Older
DateSubjectAuthorDiscuss
19/10/2017
08:13
Sturney - as I read the holdings notices, they are discretionary clients. So Hargreave Hale / Canaccord choose the investments. I agree it is possible that a particular client or clients wanted to withdraw funds, so forcing a sale, but isn't it also possible that Canaccord was unhappy with its discretionary clients in aggregate holding over 10% of a single small company and decided to sell down across a number of their clients' accounts?
1gw
18/10/2017
22:03
1gw I think you will find that Hargreave Hale held 5.0m shares in nominee accounts for its clients. Presumably Canaccord also held shares in its nominee accounts for its clients. So we have no idea which client (or clients) sold the shares. Sturmey
sturmey
18/10/2017
19:17
And looking at the history, Hargreave Hale held 5.0m shares (8.2%) as of 31st March 2017 (before its takeover by Canaccord), according to the Enteq site. So I wonder if post-acquisition, Canaccord simply decided to sell down its own (pre-acquisition) position, leaving the Hargreave Hale position in tact. i.e. maybe it would be reasonable to hope that the reduction in shareholding was a post-acquisition rationalisation exercise that is now more-or-less complete.
1gw
18/10/2017
18:34
That holdings notice from Canaccord might explain where a bit more than 1/2 the shares came from. When Canaccord took over the Hargreave Hale business they gave a holdings notice stating that as of 18th September they held 6.3m shares (10.1%). Today's notice says this has reduced to 5.2m shares (8.4%) as of 16th October. So a bit over 1m shares gone in a bit under 1 month.
1gw
18/10/2017
13:46
And I guess conspiracy theorists might suggest that the MMs have forced out enough weak holders to fill a big institutional order and can now let the price find it's own level?
1gw
18/10/2017
13:05
That 1,675,000 transaction - must be a Buy@ the 21p Offer - constitutes 2.7% of the issued shares so I wonder whether we will see a holdings RNS over the next few days.
masurenguy
18/10/2017
12:52
Perking up a bit here. That looks like a 1.6M buy @ 21p earlier
hugepants
16/10/2017
13:53
So much for that then. Oil prices strengthening but NTQ shareprice weakening. Perhaps have to wait for the 1H results on 15th November for the chance of a meaningful reassessment of valuation.
1gw
28/9/2017
11:41
Agreed this looks well undervalued based on the balance sheet. The US property is worth about 3p a share from memory. They are negotiating the downturn well with only modest losses reported and claims they are gaining market share bodes well.
hugepants
28/9/2017
11:33
Quite agree but the market is often behind events where very small caps are concerned. The current market cap is $17m, with $15m of that in cash, so the enterprise value of the whole company is just $2m or circa £1.5m. A ridiculous valuation when they also had circa $7m (£5.2m) in inventory & receivables at the March year end without even considering some residual value in property and equipment.
masurenguy
28/9/2017
10:48
Isn't it about time we got some buying interest based on the recovery in the oil price?
1gw
21/9/2017
14:33
I've added some more just now on further consideration of the AGM.
1gw
20/9/2017
15:04
Thanks for your interpretation. I'm sure holdings announcements could be issued in a more straightforward manner.
mr macgregor
20/9/2017
13:45
Edit. Looking at the chain of ownership, the Canaccord holdings notice is because they've acquired Hargreave Hale, which previously had an 8% disclosed position (according to the Enteq site). So with Canaccord's own position and/or any new purchases they're now above 10% and appear to be the biggest shareholder.
1gw
20/9/2017
11:34
Here’s why I reckon oil could be heading higher EXTRACT Global oil demand has, for the third year in a row, risen by more than International Energy Agency predictions. Chinese oil demand is of particular note. It is growing at double last year’s pace, rising by 690,000 barrels per day (bpd) in July, with year-to-date data showing average growth of 550,000bpd, compared to 210,000bpd growth over the same period in 2016. I can start drawing all over charts, showing that the trend is this, while sentiment is that. But I don’t want to. It would be almost dishonest to say anything more than the truth, which is that I’ve got this nagging feeling at the back of my mind that oil is getting set for a run. I don’t think it necessarily starts tomorrow, just that something is brewing. What’s more, I don’t think that many in the investment world, the business world or the political world are ready or prepared; and a price surge could take a lot of people by surprise. http://moneyweek.com/investing-in-oil-price-about-to-take-off?utm_campaign=money-morning-newsletter&utm_medium=email&utm_source=newsletter
masurenguy
19/9/2017
19:59
Thank you for your very positive feedback from the AGM. If H2 is the new normal then we are in deep value territory indeed.
brugen
19/9/2017
16:11
That's me back from the AGM and happy to be buying more this afternoon. I was impressed with what I would characterise as a quiet confidence in the business. I was also relieved to discover that inventory hadn't disappeared beneath the Houston floods. I did specifically ask about the notable difference between 1HFY17 and 2HFY17 and MP confirmed that it was 1H17 that could be considered the "aberration" not 2H. He said that he thought Investec in their analysis had modelled the business on the basis of the 2H run-rate. No-one ventured a credible explanation as to why the business traded so close to cash in terms of market cap and indeed someone pointed out that they had some "deep value investors" on the share register who were attracted by exactly this. International seems to be coming along quite nicely, although somewhat "lumpy" compared to the US business. I had mistakenly thought that the Saudi contract was a one-off but it sounded more like the beginning of what is hopefully a long-term and growing relationship. The company seemed to me to believe that it has come through the low oil price period with an enhanced competitive position due in part to the impact of various M&A transactions affecting its competitors.
1gw
19/9/2017
12:27
Pretty good AGM statement just out, with trading in line - as good as could be expected. Note that the $15m cash pile is almost untouched: "The increase in the number of oil and gas rigs drilling on land in the USA to a current level of around 950 (approximately 500 in September 2016, but approximately 2,000 in the Autumn of 2014) has created some stability amongst the US based directional drilling companies, who are Enteq's primary customers. Some spare capacity of older Measurement While Drilling (MWD) kits remain in the market however upgrade programmes replacing older equipment are in progress. Outside of the USA market cash flow for the funding of new drilling programmes, and hence the demand for equipment, remains slow. However, new opportunities exist and the previously announced Saudi Arabian contract remains on plan regarding equipment commissioning and contractual payments. The Enteq Board is confident that the company is maintaining or increasing market share for Measurement While Drilling equipment. The Company continues to invest in new product development while exercising tight controls over costs and, as a result, cash balances remains strong as at 18 September 2017 being US$ 15.0 million (US$ 15.2 million as at 30 September 2016). The Enteq Board continues to believe in the potential for a strong long-term future, and expect the Company's current full year trading to be in line with its expectations. The Company plans to release its interim results for the six months ending 30 September 2017 on 15 November 2017."
rivaldo
19/9/2017
07:57
Last year the AGM statement was issued about an hour prior to the scheduled start of the meeting.
masurenguy
18/9/2017
20:14
Tomorrow's the day then! I hope for evidence in their AGM statement that the strong 2HFY17 performance has continued into FY18 and that they can build on their annual report statement that "market conditions have seen some improvement since the beginning of 2017".
1gw
14/9/2017
15:38
Nice to see the oil price ticking back up ahead of the AGM. Here's hoping it inspires them to write a bullish statement for Tuesday morning. Almost looks and feels like NTQ is suspended at the moment.
1gw
09/9/2017
11:47
HNR - TWO wells successfully drilled with abundant oil and gas in samples extracted! Fracking and FIRST OIL next month! Don't miss this train!
happyholder123
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
Chat Pages: 28  27  26  25  24  23  22  21  20  19  18  17  Older
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