Enteq Technologies Share Discussion Threads

[yasx] 24/10/2016 21:06

Keeps nudging higher....

[escapetohome] 24/10/2016 17:50

Nice very nice , great bargain here even if management just maintain the status quo, had another top up recently.

[che7win] 24/10/2016 13:21

Allianz increasing ownership.

[escapetohome] 21/10/2016 23:19

"This is what we've been anticipating. With prices at these levels and rising, rig count increases will likely be in the double digits hereon," said Tariq Zahir, crude trader at Tyche Capital Advisors in New York.

[escapetohome] 15/10/2016 10:37

It seems a few large trades went through yesterday, one for as much as 500,000 volume.

[che7win] 14/10/2016 09:28

45 rigs added to the Permian:hTtp://www.bloomberg.com/news/articles/2016-10-13/oil-rebound-s-dirty-little-secret-threatens-u-s-gas-bulls

[che7win] 11/10/2016 15:57

Thanks,
my mistake, I was looking at the net assets:

The net assets and non-current assets of the Group can be analysed by geographic location (post-consolidation adjustments) as follows:


Europe (UK)
14,569

United States
9,867

[rivaldo] 11/10/2016 15:41

NTQ only held 2% of its cash in GBP - the other 98% is in US dollars. Look at note 17 in the last Annual Report.

I suspect that remains the case, but you could only confirm by contacting NTQ.

OT : sorry 1gw, my post crossed with yours. At least we agreed!

[1gw] 11/10/2016 15:38

Where do you get the "half" from che7win? Don't you mean 2%?

Have a look at page 46 of the annual report:

At 31st March 2016:
$000's
$14,785 Denominated in USD
$336 Denominated in GBP
$15,121 Total

which is consistent with the statement on page 9:

"Enteq is subject to the foreign exchange rate fluctuations to the extent that it holds non-US Dollar cash deposits. These GBP denominated holdings are now approximately 2% of total cash holdings."

[che7win] 11/10/2016 15:05

rivaldo or anyone who knows,
over half the cash here was held in Sterling rather than dollars from the year end accounts - do you know if they had any hedging or moved cash since Brexit?

[che7win] 11/10/2016 09:57

rivaldo,
nice to see you here. This has been on my watchlist a while, I've bought some.

The chart also looks good for recovery.

[rivaldo] 11/10/2016 09:34

Nice 30k buy at 16.49p caused the tick up, no doubt inspired by the rising oil price.

NTQ have around £12m cash at current exchange rates, plus a net $2m net receivables/payables, $4.2m inventories and $2.9m PPE - including $2.3m of land and buildings. That's almost £19m, against a £9.8m m/cap.

NTQ also recently highlighted this article on their web site about new drilling technologies, including their own:

[escapetohome] 11/10/2016 08:32

A little perk up? A very slight up tick by the look of the chart above

[che7win] 10/10/2016 16:06

Yaz,
The business here has been curtailed, what with employee numbers nearly halved.
However, assets underpin the share price.

Please elucidate.

[spob] 07/10/2016 08:18

and tanked another 6% at one point last night :)

[hugepants] 06/10/2016 20:19

Oil price now $52. If it can consolidate over $50 for a few months it will encourage the shale drillers in the US to start drilling again which will obviously be good for NTQ.

The other thing is the $/£ exchange rate. The £ has tanked the last few days.
Now £1 = $1.26

[1gw] 04/10/2016 15:14

Agree the trend in US rig count is encouraging. I really don't see why this is valued so low relative to cash. I know working capital will go up as they expand the business again but even so, that would be a good thing.

Anyway, I'm doing my bit - just bought some more at 16.4p

[escapetohome] 03/10/2016 23:56

The oil and rig activity seems to have gone up a little.

Lets hope this translates into a few more little share price increases.

I wonder if the charts still fair well. From the look of the chart it would not go amiss another small uptick. Not being greedy here.

[hugepants] 14/9/2016 20:26

Decent AGM update. Im guessing a lot of the competition won't survive this industry downturn so NTQ should ultimately benefit. In the meantime I wonder if they are vulnerable to a bid. There is no big shareholder to knock back a decent offer. Net working capital is about 25p which I think would be the minimum any offer would have to be priced at.

[yasx] 13/9/2016 18:39

1gw,

There are other assets aside from cash - these are not reflected in the price.

But, if/when the actual business turns then the move will be very sharp indeed.

This is a good company for an acquirer seeking access to cash to snap up - they can then focus on synergistic benefits from acquisition of the other parts of the business.

[rhomboid] 13/9/2016 18:30

I looked at this company a month or so back, I was put off by the exec remuneration for the exec directors , even at the current reduced levels it doesn't seem sustainable or rather justifiable ,for such a small struggling business. I'd also no way of verifying how competitive their product suite is against the market leaders in cost terms or indeed performance. On the flip side I like the cash position and their focus on other costs but that they only really are attractive as an investment if you can see a track forward to meaningful uplifts in business. I can't but I'm not an expert in the sector.

Still on my watch list

[1gw] 13/9/2016 17:58

Steady as she goes then.

Remarkable lack of trading interest it seems to me, given the cash position and outlook statement. I last bought on the 15th June update, when again I was surprised at the apparent lack of interest. I suppose, given the environment, it may be a while before tangible results (other than cash preservation) come through and that may be deterring those looking for a quick return.

[yasx] 13/9/2016 16:28

"The Board and management of Enteq continue to believe in the potential for both a market recovery and a strong long term future in a stabilised trading environment"

Cash unchanged from the last time the Company reported which is a tremendous feat. The shares trade at a significant discount to cash and an even more significant discount to TNAV.

[rivaldo] 13/9/2016 11:41

AMG statement just out - remarkable really given the trading conditions.

The cash pile is almost unchanged at around £11.3m (against the £9.7m m/cap), there should be further savings from the Board changes made today, and trading is in line with expectations: