Enteq Technologies Share Discussion Threads

[brugen] 26/7/2019 22:22

Is that not about par for the course? You normally see a bit of action around announcements then it all goes quiet apart from the odd guy selling of a few k as he can't stand the boredom.

[masurenguy] 26/7/2019 16:19

Extremely quiet here - only 44,947 shares traded so far throughout the whole of July. Furthermore, during 14 of the 20 market days this month there were no trades at all.

[1gw] 11/7/2019 08:58

Good to see wti back above $60/bbl. But in the absence of company-specific news perhaps we need the rig count to turn decisively higher.

[1gw] 05/7/2019 17:15

Liquidity of the shares still an issue here, notwithstanding MP's valiant attempts to drum up interest by presenting to investors. The last 100,000 share day was 3rd May according to Yahoo! Finance.

So for price discovery we just have to wait for it to play out I suppose, but it seems a long wait between events. Next stop, AGM statement, presumably.

[welsheagle] 21/6/2019 09:25

Thanks for info

[masurenguy] 21/6/2019 08:29

You're right Riv - time to invest in a new calculator ! :0)

[rivaldo] 21/6/2019 07:39

Hi Mas. Sorry, that's incorrect!

There are 63.88m shares in issue, and NTQ have $11.9m net cash, or say £9.4m.

That's 14.7p per share of cash.

[masurenguy] 20/6/2019 15:57

It was 6.6p at the year end on March 31st.

[welsheagle] 20/6/2019 15:47

Anybody know what the cash per share figure is now.

[apad] 14/6/2019 19:02

1gw
Thanks for the research.
apad

[1gw] 14/6/2019 18:59

Principal shareholders. The site has been updated with the position as of 30th April. Of note:

Canaccord Genuity at 9.0m shares (14.1%) appear to have carried on buying after declaring at 8.5m shares as of 1st March (City Financial exit).

Directors and Employees now hold over 10% of the shares.

[1gw] 14/6/2019 18:41

Profit.

I note that they did make a profit in 2H, so sets things up very nicely for the current financial year. Only around 0.4c/share by my calculations, but something to build on.

$(351)k loss for the period in 1H
$( 98)k loss for the period in FY19

$253k profit for the period in 2H

[rivaldo] 14/6/2019 11:13

Good stuff from oil guru (!) Malcolm Graham-Wood:



"Enteq Upstream

It is nice to be writing good stuff about Enteq again, readers will know that I was a big fan when it first came to the market but in entered at a difficult time and to be frank I thought at one stage that it wouldnt last the distance. So it is a tribute to Martin Perry that he is here and reporting a pretty good set of 2018 finals.

Indeed if you had been in the audience at his January speech and invested after that you would have done well as the shares are up by around 40% since then. Yesterday he reported revenue of $10.2m (6.5), adjusted EBITDA of $2.5m (0.2) at a margin of 24% and cash of $11.9m.

The company reports growth in both the North American market and Internationally with increased investment in new technologies and the rental fleet. The statement says that Enteq has seen ‘substantial positive growth and a return to real profitability in the last year’ and is well placed in an ‘essential market sector’ for the foreseeable future with a strong base of new products, technology partnerships and a broadening addressable market. Whilst I am hearing of price weakness in the rig area Enteq is not involved there and the current outlook seems pretty exciting."

[1gw] 13/6/2019 12:43

Distinct lack of reaction either way to those results then. Well-managed expectations this time perhaps.

[rivaldo] 12/6/2019 13:48

Investec seem to be invisible in terms of gaining NTQ any coverage. If anyone has any news of price targets or forecasts that would be great, but I suspect NTQ would benefit from a change of broker to one more active in promoting small caps.

At least Proactive have a decent summary:

https ://www.proactiveinvestors.co.uk/companies/news/221952/enteq-upstream-boasts-of-substantial-growth-as-revenues-rise-57-221952.html

[rp19] 12/6/2019 08:23

Perhaps something for down the line, but this also sounds interesting: "A new 'game changing' product line, PowerHop, which includes patented technology, was launched at the global oil industry technology show, OTC, in May 2019 and garnered significant industry interest. PowerHop field trials are expected to commence later this year".

[masurenguy] 12/6/2019 08:20

This looks very positive for their forward sales development !

"Enteq has responded to market conditions by significantly expanding the size of its kit rental fleet, rising during the year from 14 to 32 kits. This has enabled capital constrained service companies to grow their fleet of equipment and thus establish themselves as strong regional players. This model has also allowed a number of strong regional directional drilling companies to re-establish themselves, with Enteq as their primary MWD technology partner. Drilling activity in North America has traditionally been highly focused around the Permian basin in Texas, but during the year significant growth has also come from new shale oil opportunities, such as in the Rockies region of Colorado. Enteq's business model allows regional drilling companies to become active quickly and successfully in these new shale plays."

[1gw] 12/6/2019 07:36

Yes, happy with that. They couldn't quite get to a bottom-line profit, but made it to breakeven on an adjusted basis. They still seem bullish about the prospects going forward.

[rivaldo] 12/6/2019 07:28

Good results out today, with the outlook getting rosier and rosier.

$2.5m EBITDA is up from $0.2m last year. Revenues are up 57% to over $10m, and there's still an $11.9m cash pile.

New patented products are gaining traction, a rental model is building nicely, and international sales are becoming material.

This year could be a real game changer assuming the oil price remains reasonably stable:

[rivaldo] 30/5/2019 09:45

Cheers igw, they certainly delayed reporting that as long as possible!

Encouraging to see small sells being easily absorbed. Hopefully an indication of buyers sweeping up spare stock.

[1gw] 29/5/2019 20:10

75,000 trade from yesterday morning now reported.

[rivaldo] 29/5/2019 10:04

No delayed trades AFAICS, so the upturn must simply be background demand after the "materially ahead" trading update and before the results soon on 12th June.

[rivaldo] 28/5/2019 12:28

Looking like new recent highs coming soon. Moving up on almost no trades, perhaps suggesting background demand, though there may be delayed trades still to be reported.

[rivaldo] 07/5/2019 13:44

Announcement re the new products:



"Enteq announces the introduction to a new MWD downhole connection and power product (PowerHop) along with two new collaborative products (FusionXT and Geotracker).

PowerHop provides seamless and wireless power/connectivity between MWD probes assemblies with bottom mount pulsers and collar based sensors.

FusionXT is produced by QDC and combines electronics, OM and vibration sensors into a single 34” module operating via Enteq’s industry leading firmware.

Geotracker is produced by WRT and provides azimuthal propagation resistivity immediately behind the bit. Operating via Enteq’s seamless AtBit software/firmware, provides for easy geosteering and monitoring in real-time.

For further information Enteq PowerHop Info Sheet (PDF) and FusionXT info sheet (PDF)

Please come and visit us at the OTC to see PowerHop, FusionXT, Geotracker and other Enteq products at the WRT (Well Resolutions Technology) booth (# 7334 in the Arena) and FusionXT at the Laversab booth (# 405 in NRG Center)."

[rivaldo] 03/5/2019 11:27

New tweets from NTQ - I hadn't looked at their Twitter page before, but there's some encouraging recent stuff re new products as below:

"@EnteqUpstream
19 hours ago

Please come and visit us at the OTC to see PowerHop, FusionXT, Geotracker and other Enteq products at the WRT (Well Resolutions Technology) booth (# 7334 in the Arena) and FusionXT at the Laversab booth (# 405 in NRG Center)."

"@EnteqUpstream
19h
Enteq announces the introduction to a new MWD downhole connection and power product (PowerHop) along with two new collaborative products (FusionXT and Geotracker).

… …

"@EnteqUpstream
Mar 1

Geowells project (our 175C real time inclination tool) review held today with Imperial College and UK grant making body. All looking good to demo at OTC and field trial later this year."