Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

Equity Capital Markets and Advisory Business

Auctus Advisors is a specialist Equity Capital Markets and Advisory business with a focus in the Energy Sector. The partners have complementary skill sets, with decades of experience across Equity Capital Markets, Investment Banking and the Energy industry. We have worked at Société Générale, Canaccord Capital, BMO Capital Markets and Schlumberger. Most recently we have worked together for many years at GMP FirstEnergy. Auctus has been set up at the beginning of a new decade in which we see significant opportunities in the Energy space. Globally, demand for energy is at record levels and continues to grow. Conversely, investment in traditional energy sources has been severely constrained. We believe this imbalance creates opportunities for both companies and investors. Auctus provides Corporate Broking, Equity Research and Investment Banking services.

Equity Bottom-Up

<ul><li>• 2Q23 production was 317 boe/d reaching 366 boe/d in June and including ~115 bbl/d at Anshof.</li><li>Anshof-3 production performance continues to exceed expectations with strong pressure support and deliverability with no water production.</li><li>In addition, a refurbished storage vessel at Anshof is expected to be commissioned in 3Q23, which will reduce production interruption and increase the production capacity of Anshof-3 from 115 bb/d to 150 bbl/d.</li></ul>

• 2Q23 production was 317 boe/d reaching 366 boe/d in June and including ~115 bbl/d at Anshof.Anshof-3 production performance continues to exceed expectations with strong pressure support and deliverability with no water production.In addition, a refurbished storage vessel at Anshof is expected to be commissioned in 3Q23, which will reduce production interruption and increase the production capacity of Anshof-3 from 115 bb/d to 150 bbl/d.

ADX Energy Limited (ASE: ADX): Growing production. New Anshof well to be spudded in September

Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes with a term of 18 months.</li>
<li>A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share.</li>
<li>Chariot (CHAR LN)C; target price of £0.50 per share: Adding portfolio depth and near term newsflow – Chariot has raised US$16.1 mm of new equity priced at £0.14 per share.</li>
</ul>


ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes with a term of 18 months.
A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share.
Chariot (CHAR LN)C; target price of £0.50 per share: Adding portfolio depth and near term newsflow – Chariot has raised US$16.1 mm of new equity priced at £0.14 per share.


<ul>
<li>ADX is issuing A$1.5 mm of loan notes with a term of 18 months.</li>
<li>A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share.</li>
<li>ADX expects to secure farm-in partners for some of its Upper Austrian drilling projects during the summer.</li>
</ul>


ADX is issuing A$1.5 mm of loan notes with a term of 18 months.
A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options with an exercise price of A$0.014 per share.
ADX expects to secure farm-in partners for some of its Upper Austrian drilling projects during the summer.


ADX Energy Limited (ASE: ADX): Securing funding to prepare for drilling

<ul>
<li>ADX Energy (ADX AU) C ; target price of A$0.100 per share: Exploration portfolio update in Austria: larger volume, lower risk – The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20 prospects.</li>
<li>The importance of the upgrade is as much about risk reduction as it is about resources increase.</li>
<li>The expansion of the portfolio also provides new opportunities for further farmouts. </li>
</ul>


ADX Energy (ADX AU) C ; target price of A$0.100 per share: Exploration portfolio update in Austria: larger volume, lower risk – The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20 prospects.
The importance of the upgrade is as much about risk reduction as it is about resources increase.
The expansion of the portfolio also provides new opportunities for further farmouts. 


<ul>
<li>The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20 prospects.</li>
<li>The resource estimate increase reflects an upward revision of the size of certain prospects such as IRR (gas) which is now estimated to hold 38 bcf (previously 18 bcf) given a higher expected net pay, ZAM (100 bcf vs 88 bcf previously) and GRB (9.5 mmboe vs 8.5 mmboe previously) and the addition of three new lower risk gas opportunities (SCHOE, HOCH and GAST) on ADX- AT-I which is new play type in the licence with further follow ups extended. </li>
<li>The discoveries and low risk appraisal opportunities now represent 18.7 mmboe (5.5 mmboe previously).</li>
</ul>


The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20 prospects.
The resource estimate increase reflects an upward revision of the size of certain prospects such as IRR (gas) which is now estimated to hold 38 bcf (previously 18 bcf) given a higher expected net pay, ZAM (100 bcf vs 88 bcf previously) and GRB (9.5 mmboe vs 8.5 mmboe previously) and the addition of three new lower risk gas opportunities (SCHOE, HOCH and GAST) on ADX- AT-I which is new play type in the licence with further follow ups extended. 
The discoveries and low risk appraisal opportunities now represent 18.7 mmboe (5.5 mmboe previously).


ADX Energy Limited (ASE: ADX): Exploration portfolio update in Austria: larger volume, lower risk

Australia

ADX Energy Ltd. explores for oil and natural gas.  The Company operates onshore and offshore in Tunisia, offshore in Italy, and onshore in Australia.

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ADX Energy Ltd (ADX AU)

ADX Energy Limited (ASE: ADX): Growing production. New Anshof well to be spudded in September

• 2Q23 production was 317 boe/d reaching 366 boe/d in June and including ~115 bbl/d at Anshof. Anshof-3 production performance continues to exceed...

Auctus Advisors

AUCTUS ON FRIDAY - 14/07/2023

ADX Energy (ADX AU)C; target price of A$0.10 per share: Securing additional loan to prepare for drilling – ADX is issuing A$1.5 mm of loan notes...

Auctus Advisors

ADX Energy Limited (ASE: ADX): Securing funding to prepare for drilling

A$1.0 mm of the loan notes carry an interest rate of 8% per annum with 30 mm options with an exercise price of A$0.01 per share and 30 mm options...

Auctus Advisors

Auctus on Friday - 30/06/2023

The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20...

Auctus Advisors

ADX Energy Limited (ASE: ADX): Exploration portfolio update in Austria: larger volume, lower risk

The exploration portfolio in Upper Austria is now estimated to hold 213 mmboe of best technical prospective resources (previously 200 mmboe) in 20...

Auctus Advisors

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