Enteq Technologies plc (LON:NTQ), the specialist energy services engineering and technology company, has provided an update on the progress of the SABER Tool (Steer-At-Bit Enteq Rotary) technology.
Commercialisation highlights:
• The Company has a customer contract in place, as previously announced, which includes a first phase of customer testing. Customer testing, in Australia, is expected to commence in this financial year to 31 March 2024 (FY24). A purchase order has been received and US$100,000 is expected from the customer in H1FY25 for future commercial services. Commercial services in FY25 would commence following successful customer testing. An advanced shipment of SABER equipment (all heavy equipment for the initial kit) to Australia has left Enteq’s facility in Houston.
• The build programme for further equipment is progressing as planned.