Enteq Technologies said the preliminary live drilling testing of its SABER drill-positioning technology in a hard rock environment in Norway had been successfully completed.
The tool drilled over 100m through granite, demonstrating the functionality of key elements of the system and confirming that the critical flow diverter can operate effectively to generate differential pressure and maintain a constant steering angle, Enteq added.
Following this programme, Enteq can move SABER to the next stage of testing in America, noted house broker finnCap.
Enteq added it had also been short-listed as a finalist for the 2023 Offshore Achievement Awards, Emerging Technology category.
Shares were unchanged at 13.25p.