Enteq Technologies Share Discussion Threads

[valuehurts] 03/12/2023 18:49

I would be exceedingly surprised if it was used offshore for the forceeable future. The only tools really being used for this work are SLB and BH currently. Not even the smaller challengers. We are aiming for the smaller underserved independent service companies to start with. Our kit is made of off the shelf components that will provide value and reliability. Offshore reservoirs cost millions to map and plan to drill.

[p1nkfish] 03/12/2023 17:42

The mainline commercial targets are onshore but it can be used offshore and was even shortlisted for the Offshore Achievement Awards (OAAs) intended to recognise outstanding achievements in the offshore energy industry.

Any involvement in CCS will enhance NTQ's credentials as Geo-thermal does.

Traps for CCS can be old and abandoned wells. Application of directional drilling techniques offshore offers several advantages for efficiently and effectively implementing CCS initiatives and especially in depleted and sealed wells where surface assets have been shifted.

Precise well placement in offshore reservoirs suitable for carbon storage - helps maximize the storage capacity of the reservoir and enhances the overall efficiency of the CCS project even in the presence of previously used assets and can offer improved utilisation of formations.

The ability to control the trajectory of the wellbore allows for better monitoring and control of the injection process. This is essential for ensuring the safe and effective storage of captured carbon dioxide. In the case of depleted Wells some will have old assets.

Reduced environmental impact on the ocean floor and there can be cost benefits if new access is needed to previously abandoned formations.

[valuehurts] 03/12/2023 15:52

Pink, pls explain how on earth Enteq could assist with this. We have a drill and it won't be used offshore. All the carbon capture projects are offshore and will utilise former fields.

[valuehurts] 03/12/2023 15:50

It was right at the beginning

[sturmey] 03/12/2023 15:30

ValueHurts. I listened to the most of Paul Scott's podcast (no 48)and failed to find the bit about NTQ. Can you tell me the timing of the NTQ comment? I only skipped a bit at the beginning so that's when it might have been. Sturmey

[p1nkfish] 03/12/2023 15:21

VG, study it. Look at what Shell and others are working on.

[valuehurts] 02/12/2023 23:21

Good shout out on Paul Scott's podcast. He owns a few and will be monitoring the news flow.

[valuehurts] 02/12/2023 12:58

CC technology is basically just injecting into fields which helps get more oil and gas out. They have been doing this for years. Offshore drilling is just for the big boys. The land based stuff is huge enough to begin with. Nobody is going to sanction a new technology for an enormous offshore well that costs multimillions.

[p1nkfish] 01/12/2023 14:32

My guestimate aligns with VH post 2104 but also to access the developing CCS opportunities in the North Sea. It's coming but NTQ not yet mentioned it.

[valuehurts] 01/12/2023 13:37

The CFO lives in Aberdeen and it is a hub for the oil and gas industry. They won't be using the tool in deep water but a lot of the big global players have sites in Aberdeen and there are a lot of industry people there. I think it makes sense as they have the office dirt cheap and he is there already. Staff will be cheaper than in the SE of England.

[optimist4now] 01/12/2023 12:30

I have been following this chat room for a while with a view to buying, however, I would be grateful for some views on Andrew Law’s comment on 22 November, when he said:

“The appointment of Mark as CFO and (the Aberdeen) office opening has further strengthened our presence within the UK energy market, which is a key region for driving our global ambitions.”

My research to date previously indicated that Enteq planned to focus the initial SABER roll out in such regions as the Middle East and North America. My questions are:

• Have I missed something or has Enteq’s geographical focus changed?

• Isn’t trying to establish a presence in a new region, rather than concentrating
on areas of the world where they have previous experience, an additional
(unnecessary) burden on their cash resources?

I hope that the appointment of the Aberdeen-based firms AAB (accounting) and Involve (HR) is a prelude to announcing revenue generating contracts soon, rather than incurring additional overhead costs too early!

The view of you guys who have been covering NTQ for a while would be appreciated before going nap on my decision to invest.

[1gw] 29/11/2023 16:05

Disappointing move down ahead of the Mello presentations. Have to hope the NTQ presenter(s) can inspire some new buyers.

[valuehurts] 24/11/2023 20:38

That's what I like to see. This is not a lifestyle company.

[p1nkfish] 23/11/2023 11:41

Might be quite a few oil traps in the North Sea uneconomic if you have to reposition a rig, better if you can directionally drill to access via existing positioned assets?

Possible future carbon capture capabilities too from the same assets to empty wells spread around?

[somerset lad] 23/11/2023 10:45

Office space in Queen's Gardens, Aberdeen at £18 per square foot (hxxps://www.zoopla.co.uk/to-rent/commercial/details/59582466/?search_identifier=f3d6a128588e4d5e9fcb5f86b2d5c1e9) looks very economical.

[1gw] 22/11/2023 15:47

Wow. Aberdeen office opened, headed by the CFO. He's presumably also the teaboy to start with, but that's a real sign of optimism, I would have thought.

[davidosh] 19/11/2023 15:50

A reminder that there is an opportunity to meet the management team...

Enteq will be one of the companies presenting at MelloLondon at the end of this month and they have a stand and will do two presentations on Thursday the 30th November.

The event will take place at the Clayton Conference Centre, Chiswick on Wednesday 29th and Thursday 30th November, where you can expect over 700 investors, 50 Aim listed companies and 10 or so Trusts and Funds.

Tickets are still available and if you would like one at half price then enter the code MMTADVFN50.

For more information, visit

[p1nkfish] 16/11/2023 06:31

Issue new.

[valuehurts] 15/11/2023 23:10

Who's going to sell Baker hughes the shares? If they invested this would rocket. people would see it as a takeover target with tech that threatens the incumbents. It would go up a few hundred percent on the first day.

[p1nkfish] 15/11/2023 11:29

My memory can be flaky but I think there were some Linked-in posts with positive votes from Baker Hughes people.

[p1nkfish] 15/11/2023 11:28

imho, every chance a competitor will look to invest to support as SABER further de-risks and develops a pipe-line (pardon the pun) of customer demand. Not acquire but hold a stake and NTQ get cash and access to more opportunities. It looks ripe for that sort of event once the initial customers are landed.

I can't see it being sold early.

A partial stake just makes sense to me.

Thoughts?

[rivaldo] 15/11/2023 09:06

Overall great to see further confirmation that SABER "has progressed well with the technology operating as expected during successful field-testing in Oklahoma. SABER tools are currently in manufacture for commercial deployment".

The numbers and financial updates are now irrelevant other than to note that NTQ has plenty of cash for the upcoming initial commercialisation - we just have to wait for additional commercialisation and technical updates, hopefully early next year.

From Finncap's update FYI:

"Outlook.

SABER continues to progress successfully through its field trials, most recently the technology operating as expected in its customer field testing in Oklahoma. SABER now appears very close to commercialisation. SABER tools are currently in manufacture for commercial deployment for customer testing.

- Commercial opportunity.

SABER is expected to be a disruptive technology in the Rotary Steerable segment of the directional drilling market. This market is worth an estimated $3.6bn pa according to Spears & Associates (2023), expected to grow around 11% this year. It is unique and IP protected, mechanically simple, thereby using fewer moving parts and is expected to offer customers lower through life operating costs and improved operational availability versus the market incumbents. The company is planning to introduce the SABER to market both as a rental unit or as an outright sale, with the independent and regional drilling companies expected to be keen to compete with the major market incumbents in this area.

- Forecasts.

Our forecasts remain under review for the time being, until commercial launch and initial customer acceptance provides a better understanding of have quickly this huge market will adopt this product. If commercial success occurs, the group’s value should see substantial upside from current low levels."

[1gw] 15/11/2023 07:58

On how long the cash will last, Cavendish have the following in their morning note: "Current cash is sufficient to fund initial units for market entry."

And on commercial contract timing, listening back to the IMC presentation Q&A (Q2) from October, AL said "in the coming months / early next year - that's when we'll be moving into that" - so from today's statement it seems to have firmed up as next year.

[somerset lad] 15/11/2023 07:53

Cavendish note doesn't add anything material, with forecasts remaining under review. They comment that if the customer trials are successful and SABER is well received by customers this "could dramatically increase the group's value".