Interim Results November 2021

Sector Overview

Technologies for drilling of oil, gas & geothermal wells

Steering and control:

Equipment such as Rotary Steerable Systems (RSS) to provide directional control to follow the planned well path

Measurement:

Communications:

Directional and geological

Connecting systems and

sensors to provide real-time

transmitting information

downhole Measurement While

to/from downhole and surface

Drilling (MWD)

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Product Segments

Specialised technologies for efficient drilling of oil, gas & geothermal wells:

MWD systems:

  • Sophisticated sensors and electronics in the hostile down-hole environment.
  • MWD equipment supply market is c.$100m annually.

SABER RSS:

  • New product development, SABER (Steer At- Bit Enteq Rotary) with game-changing potential for efficient drilling operations.
  • Target new technology RSS market is c.$2bn annually.

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Operations Overview

  • Technology:
    • Core MWD based on Enteq's reliable and industry renowned XXT platform
    • SABER engineering and development team (UK based)
    • Distribution agreements with selected leading technology suppliers to enhance Enteq's product range
  • Manufacturing:
    • In-househigh-temperature electronics manufacturing and operations facility in Houston
    • SABER technology, manufacturing and assembly facility in progress near Cheltenham, UK
  • Sales:
    • Sales team working alongside international sales representatives
    • Technology partnerships to augment full equipment package offering

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SABER Technology Development

SABER is an evolution of the proof of concept, tested by Shell and licensed to Enteq, representing a prospective step-change in directional drilling technology. Enteq has re- engineered the concept resulting in a mechanically simple, compact design.

  • Testing and Field Trials:
    • Field trials have affirmed the ability of the SABER control system to function in a downhole environment
    • Testing has reconfirmed the ability to generate sufficient side forces for steering

- International field trials ongoing prior to moving to North America

  • Commercialisation
    • Rental fleet readily scalable
    • Commercial returns expected during 2022
  • Investment
    • Committed total investment to September 2021 of $2.3m ($1.4m to March 2021)

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Enteq Upstream plc published this content on 18 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 18 November 2021 11:32:06 UTC.