gretel
19 Sep 2017
Good AGM statement just released Pretty good AGM statement just out, with trading in line. Note that the $15m cash pile is almost untouched:"The increase in the number of oil and gas rigs drilling on land in the USA to a current level of around 950 (approximately 500 in September 2016, but approximately 2,000 in the Autumn of 2014) has created some stability amongst the US based directional drilling companies, who are Enteq's primary customers. Some spare capacity of older Measurement While Drilling (MWD) kits remain in the market however upgrade programmes replacing older equipment are in progress.Outside of the USA market cash flow for the funding of new drilling programmes, and hence the demand for equipment, remains slow. However, new opportunities exist and the previously announced Saudi Arabian contract remains on plan regarding equipment commissioning and contractual payments.The Enteq Board is confident that the company is maintaining or increasing market share for Measurement While Drilling equipment.The Company continues to invest in new product development while exercising tight controls over costs and, as a result, cash balances remains strong as at 18 September 2017 being US$ 15.0 million (US$ 15.2 million as at 30 September 2016).The Enteq Board continues to believe in the potential for a strong long-term future, and expect the Company's current full year trading to be in line with its expectations.The Company plans to release its interim results for the six months ending 30 September 2017 on 15 November 2017."
gretel
15 Jun 2017
Results out - high potential upside Steady as she goes results. NTQ is ready for an upturn. The downside is protected by the very well looked-after cash pile, whilst there's serious upside if and when the sector continues to solidify and cap ex starts to improve.There's around 20p per share of cash and 30p per share of net assets, compared to the current 23.5p share price.A brief summary from Malcolm Graham-Wood yesterday:[link] old friend, Enteq Upstream has results today and due to cost cutting and generally careful progress the losses are reduced. The company say that they have retained a ‘sustainable business in difficult market conditions’ and have looked after the cash, they still have $15.3m for sunnier days. Another one to keep an eye on."
gretel
16 May 2017
RNS : Hargreave Hale buy, go above 10% Hargreave Hale have bought another 1m shares and now own over 10% of NTQ, or 6.35m shares:[link] a vote of confidence.
gretel
12 Apr 2017
Good trading update today About as good a trading statement as could be expected:[link] cash actually increasing to around £12.5m, against the £13.7m m/cap- in-line revenues and EBITDA- the overall climate improving slowly- expansion in Saudi Arabia and new patent applications increasing NTQ's IP value
gretel
14 Mar 2017
Substantial director share buying RNS just out - the CEO and an NED have bought £80,000 of shares between them at 19p....[link] get the feeling things are on the up here, especially given the large upturn in shale oil production in the USA.
gretel
06 Feb 2017
US shale activity increasing Should be good for NTQ - news report today: "DJ Oil Steady as U.S. Shale Shows Signs of Resurgence Kevin Baxter and Jenny W. Hsu Oil prices were little changed Monday as reports of increased drilling in the U.S. dampened appetite among investors following last week's 2% uptick. The April contract for global crude benchmark Brent was down 0.14% to $56.72 while its U.S. counterpart West Texas Intermediate edged up 0.03% to $53.86 for March deliveries. Oil-field services company Baker Hughes reported that shale oil rigs in the U.S. grew by 17 last week to total 583. This led many analysts and market observers to predict that 2017 will be the comeback year for shale oil after two years of cost-cutting and bankruptcies. "We expect a strong revival in U.S. shale oil production and expect yet more rigs to be added to the market," said Bjarne Schieldrop, an analyst with Stockholm-based SEB bank. He said he believed that spending on U.S. onshore oil exploration and production will rise by 30%-40% in 2017 and the rig-count could be higher than 1,000 by 2019."
gretel
18 Nov 2016
H1 results : cash pile higher than m/cap Interims out today - the cash pile is actually UP to around £12.2m (ahead of the £10.3m m/cap).New contract in Saudi Arabia sounds promising, and H2 will apparently be better than H1 was, though revenues will be lower than prior expectations.Worth noting that NTQ also own $2.5m (at cost) of land and buildings as outlined in the narrative today:[link] have done a superb job in hunkering down. There are glimmers of light, but recovery is going to take a while - unless the global opportunites NTQ talk about start to come through, like the new Saudi contract.
gretel
11 Oct 2016
Net assets double the m/cap 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 around £19m, against a £9.8m m/cap.NTQ also recently highlighted this article on their web site about new drilling technologies, including their own:[link]
Another Jacko
20 Jul 2016
Too Cheap These are too cheap IMO.my calculations they have 19p a share in net cash at the current exchange rate as well as other substantial assets. They're operating at close to breakeven.I don't believe this discount will last forever.
Another Jacko
16 May 2016
Bought in I bought a few of these due to the discount to cash and assets. It just seems compelling to me. Just one of the few stocks I have bought in a small way as a punt on an improvement in the oil price in the coming years.
Lupo di mare
15 Jan 2015
Re: One Day? Phew, glad I bailed out when I did. Just shows that Directors' buying is not necessarily a sign to do likewise. Took a hit at 24p, but can't win 'em all.
Carefully Does It
12 Dec 2014
Value Interesting value here given the cash, inventories. If they can show growth in this oil environmenta buy down at these prices should pay back handsomely.
gretel
21 Nov 2014
Director buying just announced Great to see a non-exec spending £37,000 on more NTQ shares:[link]
gretel
21 Nov 2014
Finncap increase their EPS forecast Finncap say Buy, increase their EPS for next year to 5.1c and have a 51p target price.Here's their summary:"Enteq Upstream^: Encouraging interim results (BUY) Half-year results saw a decent increase in drilling tools revenues, with a strong increase in profitability. Commercial progress included new Asian customer wins, investment in new products, and a focus on operational efficiencies. No impact has yet been seen from the weaker oil price. Over the next two years, we expect sales growth will be driven by new customer territories and commercial traction with new products, even in a more difficult oil price environment. No change to current year forecasts, with EPS raised by 20% next year on a lower tax charge. The shares have bounced but remain deeply undervalued versus the company’s peers; as such we retain our 51p price target and Buy rating."
