Share Name Share Symbol Market Type Share ISIN Share Description
Enteq Upstream Plc LSE:NTQ London Ordinary Share GB00B41Q8Q68 ORD 1P
  Price Change % Change Share Price Shares Traded Last Trade
  0.00 0.0% 16.00 0.00 08:00:20
Bid Price Offer Price High Price Low Price Open Price
15.00 17.00 16.00 16.00 16.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 8.79 -6.32 -9.75 11
Last Trade Time Trade Type Trade Size Trade Price Currency
- O 0 16.00 GBX

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Date Time Title Posts
25/11/202022:02Enteq Upstream plc1,258
15/9/201506:14*** Enteq Upstream ***2

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Enteq Upstream Daily Update: Enteq Upstream Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker NTQ. The last closing price for Enteq Upstream was 16p.
Enteq Upstream Plc has a 4 week average price of 11.50p and a 12 week average price of 11.50p.
The 1 year high share price is 30p while the 1 year low share price is currently 10.25p.
There are currently 67,456,235 shares in issue and the average daily traded volume is 61,553 shares. The market capitalisation of Enteq Upstream Plc is £10,792,997.60.
1gw: Another decent presentation today I thought, this time with Andrew Law playing a major role alongside Martin Perry, and David Steel chipping in on the numbers. Interesting to hear their take on share price/valuation and good to hear Andrew & David talking about the reasons for their own recent purchases. Still all to play for.
rivaldo: Miton increased again, and now have over 6% with 4.1m shares: Https:// The directors have also now bought 664,000 shares since the interims. And the oil price is rising in (early!) anticipation of the global economy restarting given the successes in vaccines. Hopefully a baseline has now been established here. NTQ will undoubtedly be trading steadily at best for a little while, but not far off the entire m/cap is backed by the well-managed cash pile, and the IP and tech is in for free. The large potential upside remains in place.
1gw: "Andrew Law, Commercial Director acquired 125,000 ordinary shares ... at a price of 13.0p per Ordinary Share on 16 November 2020" How did he manage to do that then? Given the earlier correction, perhaps the price was agreed on 12th November but he didn't actually acquire them until today?
masurenguy: "NTQ remains one to put in the bottom drawer and wait for upside on in particular Shell's SRSS technology and other new products." Exactly Riv - although the shares are also very good value at this price too !
rivaldo: Agreed. The £8.7m m/cap is well backed up by $8.8m of well-managed cash, so the tiny EV means the core business, patents etc are in for almost nothing. Good to see two directors putting decent amounts of cash in at these levels. I would have said there's unlikely to be much short-term excitement, but actually the oil price may recover a fair bit on good COVID news - plus NTQ have said that: "the expectation of a medium-to-long term supply contract being awarded to our (Saudi) partner. The outcome of the accreditation is expected to be known before the end of March 2021." Otherwise as p1nkfish says, NTQ remains one to put in the bottom drawer and wait for upside on in particular Shell's SRSS technology and other new products.
dolittle1: About to finish at day's low. On track to single digit share price.
dolittle1: They are desperately trying to ramp the share price. They are keen to point out that international sales are up 75% but forget to mention that overall sales are down a whopping 60%.yes, you read it right 60% drop in revenue. Cash reduced as well.
rivaldo: New research note out today from Proactive. They conclude: "Valuation The current market capitalisation of £9.05mln (US$11.6mln) compares with the current net cash position of US$8.8mln. This implies that the market is valuing the existing business and the opportunity set at US$2.8mln. We believe that based on current products plus the Rotary Steerable system, and with further expansion in overseas markets, the company could produce revenues in excess of US$20mln by 2024. We argue that the current share price does not reflect this." Also worth noting: "Given the comfortable balance sheet position, the company is maintaining its willingness to make focussed investments in new product development.The biggest project is the Rotary Steerable Drilling system that is under development. This project, together with other new product lines, will give Enteq an addressable market of US$2bn per year, compared with US$100mln for the current core technology offerings. The AGM statement indicates that a prototype deployment is scheduled for 2021, and we continue to expect that first revenues from this system will be realised during FY March 2022."
rivaldo: Shell's deal with Egdon Resources yesterday "to appraise two licence areas in the southern North Sea just off the coast of Scarborough" could be interesting for NTQ: Https:// - it's with Shell, with whom NTQ already have a promising relationship - it's in the UK, so obviously NTQ have a geographic advantage - most importantly given NTQ's expertise in horizontal drilling: "The companies now believe that modern techniques using horizontal drilling mean that the fields can be developed, Mark Abbott, 59, Egdon’s chief executive, said."
rivaldo: The results are as already signalled, with $3.1m EBITDA, up from $2.5m EBITDA last year. NTQ have $10.2m net cash, against the £9.3m m/cap. The amount of non-US revenues has ballooned from $1m up to $3.2m and gives NTQ greater variety of customer protection than before. They've taken the opportunity to kitchen sink everything in one hit of write-offs, which should leave a clean Balance Sheet going forward. NTQ have the advantage of having extremely capable management who've been through all this before. They've already successfully navigated previous oil price collapses and preserved (and from memory actually increased!) the cash pile through it. Judging by the extensive job and wage cuts already implemented in March they'll likely be able to do the same this time. The current environment is obviously incredibly difficult. If the share price slips back again around the lows then I will probably pick up more ready for the inevitable upturn at some point, or progress on the Shell license agreement.
Enteq Upstream share price data is direct from the London Stock Exchange
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