ACT Energy Technologies Ltd T.ACX

Alternate Symbol(s): CETEF

Energy Oil & Gas Drilling

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.

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ACT Energy Technologies Ltd > Resource Equity Partners Reaffirms Need for Change at T.CET

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Post by jenkinjton Jun 27, 2023 6:03pm

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Post# 35517300

Resource Equity Partners Reaffirms Need for Change at T.CET

Resource Equity Partners Reaffirms Need for Change at Cathedral Energy Services Ltd.

Resource Equity Partners

Tue, June 27, 2023 at 8:43 AM GMT-2:30 ·8 min read

Cathedral remains significantly undervalued due to ongoing leadership issues, governance concerns, and flawed strategy.
Cathedral's share price has declined rapidly from its 52-week high of $1.52 in January 2023 to $0.57 / share, well below its April 2022 private placement price of $0.70 / share.
Cathedral misses consensus street EBITDA estimates by $12 million in Q1 2023 despite having 5 certified Chartered Professional Accountants on the Board and Executive; currently being covered by 5 reputable investment banks.
Board and Executive are misaligned with shareholders; shareholder capital is being further eroded to advance Board and Executive entrenchment.
Resource Equity Partners believes a more effective Board and Executive can unlock substantial upside over the current share price and reinforces an actionable path to $2.50+ per share.