An update on SABER commercialisation and route to market
With the successful progression of customer testing for the SABER Tool in Australia, this update outlines the progress of the commercialisation plan and route to market for SABER.
SABER update
We have commenced work building an initial fleet of SABER, ready for deployment to customer operations. The build programme is well underway, with two tools already deployed by our customer in Australia.
Additionally, we have been actively engaging with potential customers, inviting them to attend our drilling tests and receiving the downhole test results. Work has been initiated to integrate the SABER Tool with existing customer downhole equipment and our Houston-based engineering and operations team are focused on consolidating the existing tool design and building tools for operational deployment.
Strengthening our team
In May, we announced the appointment of Amir Absoud, who is the Founder and Principal of Upstreamly Ltd, which is now providing us with accounting, tax, compliance and advisory services.
IP updates
We also engaged an independent third party, Foresight Valuation Group, to secure an IP valuation and provide a solid baseline to support the value of the regional partner agreements.
Andrew Law, CEO of Enteq, commented:
“With a fundamentally robust energy market, we expect to see strong demand in the industry for new competition, notably in the RSS sector. As such, we have been working hard towards securing customer agreements to cover the key regions around the world.
With the technology now having been proven in trials and full operational environments, we look forward to commercial/revenue-generating activity commencing shortly.
The company looks forward to fully introducing this potentially disruptive technology into the market. The focus on commercialisation of SABER is through deployment with new and existing customers in the key regions.”
Read more about the SABER Tool: https://www.enteq.com/products/rotary-steerable-system-srss/
