Enteq Technologies – notes progress on “unique” SABER product, so why a more than 30% share price slump?
By Steve Moore | Wednesday 21 September 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
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”?
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