Previously writing on energy services technology and equipment company Enteq Technologies (NTQ), in September with the shares at 10p I concluded a ‘current troubled state… still avoid / sell’. What of now results for its half-year ended 30th September 2022, with the shares slightly below 10p and a £7 million market cap?
An “AGM trading statement” from Enteq Technologies (NTQ) includes “increased number of active North American drilling rigs during the period, rising from approx. 700 at the start of April to approx. 760 currently” and “SABER, the unique Rotary Steerable Drilling product, based on IP from Shell and subsequent Enteq developments has now successfully passed all stages of passive testing… a full active drilling test site has been booked in Norway and commercial agreements for field trials, initially in the Middle East, are being concluded with the expectation of commercial operations closer to the end of this calendar year”. Good news then from this “energy services technology and equipment supplier”?
‘Measurement While Drilling’ technologies and equipment company Enteq Upstream (NTQ) has announced results for its half-year ended 30th September 2020 including “the international customer base for Enteq has grown significantly in the last six months, primarily through expanding market share in China… with good further opportunities… has some exciting product release plans which have the potential to change the scale of our business” and “cash balance of $8.8m”. The shares have currently responded to 12p, er approaching 16% lower...
Having slid back towards 12p following a June announcement of results for its year ended 31st March 2016, shares in oilfield services technology and equipment supplier, Enteq Upstream (NTQ) are currently steady at 16p on the back of an “AGM Statement” announcement, which includes an update on current conditions in the industry…
Like today’s other Bull Call Of The Day, Eclectic Bar (BAR), it can be seen how Enteq Upstream (NTQ) shares are coming off the back of an extended 2014 bear run, one that was punctuated by a couple of gaps to the downside. The question is can the share price now recover?
