Enteq Upstream, the newly incorporated company focused on acquiring and consolidating companies that provide specialist technologies to the upstream oil and gas services market, is pleased to announce that today it has published its AIM admission document.

The Company intends to list on the AIM market of the London Stock Exchange after the placing of 15 million Ordinary shares at an issue price of 100 pence per Ordinary Share. The approximate market capitalisation of the Company following Admission will be £15 million. Trading is expected to commence on AIM on 1 July, 2011 (ticker symbol: NTQ).

A copy of the document is available to download here.

Overview
Enteq Upstream is a newly-incorporated company, focused on acquiring and consolidating companies providing specialist products and technologies to the upstream oil and gas services market.

The Company has been founded by the same leadership team behind Sondex, a leading oil and gas products and technology provider. Sondex established a core technology product line as a de-facto standard in global oilfield service companies. Sondex was sold to General Electric in 2007 for 460p per share, having listed on the London Stock Exchange for 100p in 2003.

The Directors of Enteq Upstream believe they can create a leading specialist oilfield supply company by converting acquired products and technologies into an integrated portfolio to be sold internationally to regional and global oilfield service companies.

Martin Perry, Enteq Upstream’s CEO, commented:
‘The market for oilfield services is currently buoyant, and there will be an on-going need for technology to assist in identifying, evaluating and recovering hydrocarbons. I believe the time is right to invest in companies who have products and technologies that can be used in this environment and would benefit from being part of a broader portfolio with access to international markets’

For further information please contact:

 

Enteq Upstream PLC

Martin Perry: +44 (0) 1344 893030

 

Investec

James Grace: +44 (0) 20 7597 5160