Contract Award

7 May 2020

Enteq Upstream plc

("Enteq" or the "Company")

Contract award

Enteq, the oilfield services technology and equipment supplier, announces a contract from a new international customer.

On 7 May 2020, Enteq received confirmation and a cash deposit relating to a contract valued at $1.0m with a new customer, for operations in China. The contract is for Enteq's core Measurement While Drilling technology in combination with a product jointly developed with and supplied by a technology partner. The order will be delivered to the customer during the summer of 2020.

 Martin Perry, CEO of Enteq Upstream plc, commented:

"Despite the recent market turbulence, this order demonstrates Enteq's continuing ability to deliver proven, cost effective, solutions for our customers' needs. The new customer relationship broadens Enteq's presence in China and demonstrates the value of our continued technology partnerships."

For further information, please contact:

Enteq Upstream plc +44 (0)149 461 8739

Martin Perry, Chief Executive Officer

David Steel, Finance Director

Investec Bank plc (NOMAD and Broker) +44 (0)20 7597 5970

Chris Treneman, Patrick Robb, David Anderson