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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 Adonis1411on Mar 13, 2021 9:52pm
266 Views
Post# 32794120

RE:CET Q4 ,2020

RE:CET Q4 ,2020Very disappointing results. I know revenue has come off quite a ways but I cannot understand how they can continue to not make positive EBITDA in a wage subsidy world. I had heard through the grapevine that they were busy, couldn't find people, etc. in Q1 and were looking to bump pay rates in the field to get people back. Doesn't give me the encouragement I was hoping for when they're already operating at loss levels in generally improving markets.

Referencing new dual telemetry technology as the future when they only have 1 system built... A company like Evolution Engineering probably has 50+ dual telemetry systems available just in the Permian alone. 

I was optimistic that these guys would find a way to flow some decent free cash and show a good yield at the current market cap but I'm certainly re-evaluating that in light of this disappointing annoucement.

Agree with Auburn. I think if you're looking at deep discount to Book Value companies, ESN is at least flowing cash. Plus they have the downhole tool business that's probably worth near their current market cap just on its own.
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