Enteq Tech Share Price (NTQ)

Painfully slow progress I agree. Management have over-promised and under-delivered in the last couple of years as they said it would be commercialized and being sold right now. However, they have at least been prudent with cost control and the speed of adoption may be a little out of their hands so I'm willing to give them time as they have made progress and seem to have a finalized product now without additional investment required. Lets hope things ramp up over the next year and get some positive real world feedback to raise demand.

At £6.5 m again despite allegedly revolutionary technology…….disappointing is not the word!

Https://www.proactiveinvestors.co.uk/companies/news/1040712/enteq-technologies-makes-significant-commercial-and-technical-progress-with-saber-1040712.html

Today's RNSNON looks good - an actual first SABER purchase order!

Everything's progressing well in terms of build programmes, further testing, technology demonstrations etc.

And SABER's applications include "hydrocarbon production, geothermal energy, methane capture and CCS (carbon capture and storage)".

The CEO concludes with "This is another positive step along the road to full commercialisation of the SABER technology in a market that has a demand for this strong alternative method of steering while drilling":

Https://uk.advfn.com/stock-market/london/enteq-technologies-NTQ/share-news/Enteq-Technologies-PLC-SABER-Tool-Update/93252029

Https://www.enteq.com/news-media/2023/12/enteq-technologies-marks-milestone-year-with-saber-tool-success-and-global-expansion/

"19 December 2023

Enteq Technologies marks milestone year with SABER Tool success and global expansion

Enteq Technologies..announces several major milestones in 2023, including the successful field trials and validation of its innovative Steer-At-Bit Enteq Rotary Tool (SABER Tool). Adding to this success, Enteq expanded its footprint with the opening of new facilities in Houston and Aberdeen. The company also completed the sale of its XXT MWD (measurement while drilling) intellectual property and made a number of strategic appointments.

Shortlisted for the Emerging Technology category at the 2023 Offshore Achievement Awards, SABER successfully drilled 100m in granite during field trials at the first stage of Enteq’s field trials programme in Norway, qualifying its capabilities. This was followed up with the next stage at Catoosa Drill Test Facility in Oklahoma, where an independent survey confirmed the tool had exceeded test objectives during extensive downhole drilling testing.

SABER proved its efficacy in an operational environment, successfully generating steering forces to change the trajectory of a well by generating dogleg in typical reservoir rock conditions and providing sufficient steering force for target commercial applications in lateral horizontal wells. With this confirmation now secured, Enteq has moved onto the final stages of commericialision for SABER, seeking partners and customers as the tool comes to market.

Reflecting on 2023, Andrew Law, CEO of Enteq said:

“2023 marked a number of defining moments for Enteq and the SABER Tool. Successful downhole testing was a landmark achievement for us, but also for the wider industry as we have now validated our ability to push the boundaries and set a new standard for RSS technology with SABER.”

As part of its strategic commercialisation strategy, the company sold its Enteq XXT MWD intellectual property and associated assets to Rime Downhole for a multi-million figure sum to enable it to focus its attention, investment and resources towards the development of SABER.

The sale came as Enteq strategically expanded into new US headquarters in Houston, Texas, giving it a new North American home for the tool’s development. Continuing this strategic growth, Enteq also opened a new office in Aberdeen in November, supporting its broader growth strategy. The Aberdeen office is poised to play a vital role in engaging with UK-based customers and partners while also functioning as support services headquarters for Enteq...

...Law continued,

“Our expansion in Houston and new Aberdeen office comes at a time of real momentum for Enteq and SABER and strengthens both our global credentials and local capabilities in those regions. The appointments of Mark, David and Jason have also further enhanced our expertise and capabilities as we a