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ACT Energy Technologies Ltd T.ACX

Alternate Symbol(s):  CETEF

ACT Energy Technologies Ltd., formerly Cathedral Energy Services Ltd., is a Canada-based energy company. It is a partner to North American energy companies requiring high-performance directional drilling, measurement while drilling (MWD) and rotary steerable services, as well as in providing remote operations. It operates in Canada and in the United States as Altitude Energy Partners, and in the United States under Discovery Downhole Services and Rime Downhole Technologies. The Altitude Energy Partners specializes in providing solutions for the energy sector. Its directional drilling services includes mud motors, rotary steerable system (RSS), measurement while drilling (MWD), and real-time operations. The Discovery Downhole Services specializes in providing drilling solutions to meet clients' needs. The Rime Downhole Technologies is an engineering company specializing in crafting products for the downhole MWD industry. Its services include rentals, training, maintenance, and repairs.


TSX:ACX - Post by User

Comment by auburn2on Aug 14, 2020 11:17am
141 Views
Post# 31408593

RE:RE:RE:RE:one line says it all in press release

RE:RE:RE:RE:one line says it all in press releaseRegarding MCB, there's about $13 million more shareholders' equity here even after a series of impairments that can quickly reverse in a better market, and a significantly lower market cap. Much more leverage to improving conditons as evidenced by the climb to over 28 cents in early June, where shares for sale even at those levels were hard to come by. If you aren't following their LinkedIn page, you should be. CET cleared out the debt already in this bear market through the sale of a non-core division an an equity financing that ultimately saw the stock hit $2, where it troughed during the 2008 crisis before eclipsing $10. Debt now is very low. It's reasonable to trade at fractions of book values depending on debt loads and market conditions.
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