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% 12.00 25,000 08:00:06
Bid Price Offer Price High Price Low Price Open Price
11.50 12.50 12.00 11.75 12.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 8.79 -6.32 -9.75 8
Last Trade Time Trade Type Trade Size Trade Price Currency
08:00:06 UT 25,000 12.00 GBX

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Date Time Title Posts
05/8/202019:05Enteq Upstream plc1,144
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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 12p.
Enteq Upstream Plc has a 4 week average price of 11.75p and a 12 week average price of 10.90p.
The 1 year high share price is 32.50p 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 80,702 shares. The market capitalisation of Enteq Upstream Plc is £8,094,748.20.
dolittle1: Single digits soon ie where you would expect the share price to be considering wider sector activity and significantly reduced revenue. I reckon cash balance should come under pressure.
dolittle1: A large portion of thr money will be spent on R&D, with limited revenue in short term. Things will get ugly before recovering. Share price will probably drift until things start recovering in 2022.
rp19: As some have said above, management have a track record during difficult times so am happy to hold in the long term. That said, share price appreciation in the short term is unlikely in my opinion. Cash is about £8.2m, market cap £9.2m.
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.
rivaldo: Great to see Miton increasing to over 4% with 2.73m shares (they seem to be on a bit of a spree at present - they've also just bought into REAT, another of my holdings). If they've cleared out any sellers then the share price could get interesting given the low free float: Major Shareholders Canaccord Genuity Group 8,800,000 13.4 Directors & Employees 7,264,696 11.1 Allianz 6,150,000 9.4 Soros Fund Management 4,953,818 7.6 Octopus Investments 2,919,000 4.5 Investec Securities 2,897,923 4.4 Hargreaves Lansdown 2,535,101 3.9 Church House Investments 2,449,150 3.7 Premier Miton Asset Management 2,434,012 3.7 Killik Asset Management 2,091,747 3.2 Columbia Threadneedle Investments 2,008,642 3.1 That list represents 68% of the shares in issue.
1gw: No, but 36 purchase transactions vs 2 sale transactions I think, looking at my records. Given the liquidity, a lot of those transactions are relatively small. NTQ currently around 9% of my portfolio, and now just my 3rd largest holding given a combination of success elsewhere and poor share price performance here. An average purchase price of my current holding of around 19p, sadly. One day, Rodney...
rivaldo: The interims look good. NTQ achieved $1.5m EBITDA in H1 alone, up from $0.6m - and have $10.7m cash against the £19.9m m/cap. The "significant growth in revenue (58%) and adjusted EBITDA (143%)" was "ahead of management's prior expectations". They're also "confident" in meeting full year expectations - great to see the continued increase in rental kits despite the rig count fall in the USA. The potential for the new products - plus the Shell-licensed technology - is huge relative to the tiny m/cap, and these are products now commercially available, not just blue sky. This management team have done it all before, and are gently shepherding NTQ through a transformation (note the stable admin costs). Congrats to management: Https://
rivaldo: I came across this article from a month ago which hasn't been posted before. Some interesting commentary: Https :// "Enteq Upstream on the front foot again as rig activity rebounds Enteq wants to broaden the geographic reach of the business and strengthen its technological base. ‘Underground GPS’ is how chief executive Martin Perry describes Enteq Upstream PLC’s (LON:NTQ) oil well technology. The AIM-listed group specialises in measurement and directional equipment to get the optimal production from a well. WATCH: Enteq Upstream expands into the Middle East 'now lean years are over'. Its sensors and electronic controllers sit behind the motor driving the drill bit, measuring direction, where it is and parameters about rocks, vibration and temperature. In short, essential pieces of kit to make sure a well goes to the place the geologist wants. The big three oilfield service groups Schlumberger, Halliburton and Baker-Hughes all have their own in-house capability and account for half of the market. Enteq has a good share of the rest. The problem up until the middle of last year, however, was that fewer and fewer wells overall were being drilled in the US. Rig count above 1,000 again Drilling is closely linked to the price of crude and when the US benchmark West Texas Intermediate tumbled to US$36 per barrel at the start of 2016, US rig activity stalled. By January 2017, fewer than 600 rigs were in operation, which predictably had an adverse effect on all oilfield services providers including Enteq. Perry calls them the lean years, but things are looking much better now Having rallied to more than US$70 per barrel in October, the crude price has settled at around US$55-57. Anything about US$45 is more than enough to keep oil companies drilling, says Perry, something borne out by the latest Baker Hughes rig count that showed 1,051 rigs in operation in the US. And that increased activity has already started to show through in Enteq’s numbers. Both sales and profits are running well ahead of expectations, the company said in a trading update. Results well ahead of expectations Turnover in the year to March 2019 will be 50% up from the US$6.5mln seen in 2017/18. House broker Investec, meanwhile, raised its forecast for underlying earnings for the year by 10% to US$1.95mln. Growth accelerated through 2018, said the broker, while there is good visibility into the March year-end. The share price also picked up but is still well short of what Perry expected when he floated Enteq on AIM in 2011. Previously he had set up and run oilfield services group Sondex, which was sold to GE for £289mln in 2007. The intention was to follow a similar buy and build strategy with Enteq. Buy and Build That ambition was halted by the oil price slide but having spent the last couple of years battening down the hatches, Perry is looking up again. Around 90% of revenue comes from the US and some 250 of the drill rigs currently in operation there have at least one key part supplied by Enteq. He wants now to broaden the geographic reach of the business and strengthen its technological base. In particular, he is looking at the Middle East, China and elsewhere in the Far East, where he feels that with the right local partner Enteq can challenge the dominance of the big three. In Saudi Arabia, for example, there is an opportunity in the gas that the country wants to develop for its own domestic use. Opportunities overseas Enteq works with many of the US shale producers and China is keen to develop its own unconventional gas assets. Perry says the technology is agnostic to whether a well is conventional or unconventional, but nearly all its business is onshore and there is another opportunity in offshore contracts. The cost and logistical difficulties with offshore wells mean they require much more monitoring, something known as ‘logging while drilling’. That is well-suited to Enteq’s technology, believes Perry, and it is spending to upgrade its capability for this market. The technology can also be applied to other areas such as geo-thermal power while Perry hints he might also dust-off the buy and build plans and look at acquisitions to strengthen the business. Plenty of firepower Enteq has the firepower for a deal. Net cash is around US$11mln, a figure, ironically, that was boosted by the slowdown in rig activity as it supplied customers from stocks. Some of that money is earmarked to build its rental fleet to help smaller customers. There are 28 rentals currently, with several more kits likely to be added before year-end, according to Investec. The cash balance is worth 13p per share, added the broker, which has a price target of 46p compared to 28.5p today. Perry adds that all its other assets are ‘real’ with the only intangible, the ongoing R&D project. Add the cash and the market value of £17.9mln looks pretty well covered. Throw in the expansion and recovery potential and the recent share price bounce looks set to continue."
rivaldo: Great to see the "materially ahead" of expectations RNS whilst I've been away on hols. Agreed 1gw. City Financial also sold their entire stake in SOM which caused a silly "flash crash" before the share price recovered - and more. Without this I suspect NTQ's share price would be back at 35p-40p, but instead the momentum was stopped in its tracks. Nevertheless, NTQ has $11m cash against the £15.8m m/cap. Given this, the intellectual property, the growing sales around the world and the relatively stable (and decent level of) oil price I'd expect NTQ to attract press/tip attention before its results.
rivaldo: Good interim results today, with steady improvement in all respects. No "excitement" as such, so unsurprising to see the share price drift a little in these markets, but the outlook is going in the right direction. I note the North American rig count has continued to increase slightly since the 30th September interims date, even with the oil price falling. - NTQ still have over £9m of cash against the £15m m/cap - they achieved $0.7m cash inflow in H1 before working capital movements - international sales increasing nicely to Saudi, China, Russia etc - new technologies being released commercially and patents published - geothermal drilling sales being made in the Far East and Europe Another set of decent results, with a contract win or two, could see the share price back to 40p assuming the oil price stays at current levels or better.
Enteq Upstream share price data is direct from the London Stock Exchange
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