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> Zone 1 delivered a stable, water‑free gas flow averaging 2.7 mmcf/d over an 11‑hour test, with a steady flowing wellhead pressure of 870 psi.</li>
<li>The interval corresponds to a Basin Floor Fan (BFF) at 1,465 m depth.</li>
<li>The HOCH‑1 well has now been shut in for a ~2‑week pressure‑build‑up to determine the connected gas volume within the Zone 1 BFF sand body, which is interpreted to extend over a broad area.</li>
</ul>


 Zone 1 delivered a stable, water‑free gas flow averaging 2.7 mmcf/d over an 11‑hour test, with a steady flowing wellhead pressure of 870 psi.
The interval corresponds to a Basin Floor Fan (BFF) at 1,465 m depth.
The HOCH‑1 well has now been shut in for a ~2‑week pressure‑build‑up to determine the connected gas volume within the Zone 1 BFF sand body, which is interpreted to extend over a broad area.


ADX Energy (ASX: ADX): High flow rate from single Zone at HOCH first well test

Thematic (Sector/Industry)

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Industry partner for GOLD cluster – Empyrean Energy has signed a binding Heads of Agreement to acquire a 10% economic interest in the GOLD Cluster Area in Austria, in exchange for funding the drilling and testing of the GOLD‑1 well.</li><li>The required investment is EUR 555,400.</li><li>Empyrean will also pay EUR 50,000 (non‑refundable) for an exclusivity period running until 16 October, during which final funding arrangements and documentation will be completed.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Industry partner for GOLD cluster – Empyrean Energy has signed a binding Heads of Agreement to acquire a 10% economic interest in the GOLD Cluster Area in Austria, in exchange for funding the drilling and testing of the GOLD‑1 well.The required investment is EUR 555,400.Empyrean will also pay EUR 50,000 (non‑refundable) for an exclusivity period running until 16 October, during which final funding arrangements and documentation will be completed.

<ul>
<li>Wireline logging has identified 4–6 m of net gas pay across seven intervals within the deeper Base Hall channel formation (1,465–1,617 m).</li>
<li>Based on offset well data, these relatively thin reservoirs (0.3–1.5 m) can deliver high production rates and support a commercial development.</li>
<li>The identified intervals are expected to be tested in approximately three weeks, which should provide greater clarity on reservoir performance and enable an estimate of potential reserves.</li>
</ul>


Wireline logging has identified 4–6 m of net gas pay across seven intervals within the deeper Base Hall channel formation (1,465–1,617 m).
Based on offset well data, these relatively thin reservoirs (0.3–1.5 m) can deliver high production rates and support a commercial development.
The identified intervals are expected to be tested in approximately three weeks, which should provide greater clarity on reservoir performance and enable an estimate of potential reserves.


ADX Energy (ASX: ADX): Well test at HOCH deeper zones in ~ 3 weeks

<ul><li>• 1Q26 net production was ~200 boe/d.</li><li>ADX held A$4.9 mm in cash at the end of March.</li><li>• The shallow‑gas HOCH‑1 well in Austria is expected to reach TD next week.</li></ul>

• 1Q26 net production was ~200 boe/d.ADX held A$4.9 mm in cash at the end of March.• The shallow‑gas HOCH‑1 well in Austria is expected to reach TD next week.

ADX Energy (ASX: ADX): Resources upgrade expected in early 2Q26. Shallow drilling result due next week

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Additional exploration acreage in Italy – ADX has submitted a third exploration permit application in the Sicily Channel, further expanding its position within the Terravecchia biogenic gas play.</li><li>The new 517 km² d 370 C.R-.AU application is located adjacent to ADX’s existing C.R 150.AU Exploration Permit and the two additional permit applications announced in August.</li><li>Together, ADX’s existing permit and three new application areas cover approximately 1,650 km² in the Sicily Channel.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Additional exploration acreage in Italy – ADX has submitted a third exploration permit application in the Sicily Channel, further expanding its position within the Terravecchia biogenic gas play.The new 517 km² d 370 C.R-.AU application is located adjacent to ADX’s existing C.R 150.AU Exploration Permit and the two additional permit applications announced in August.Together, ADX’s existing permit and three new application areas cover approximately 1,650 km² in the Sicily Channel.

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 (ASX: ADX): High flow rate from single Zone at HOCH first well test

Zone 1 delivered a stable, water‑free gas flow averaging 2.7 mmcf/d over an 11‑hour test, with a steady flowing wellhead pressure of 870 psi.

Auctus Advisors

AUCTUS ON FRIDAY - 18.09.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Industry partner for GOLD...

Auctus Advisors

ADX Energy (ASX: ADX): Well test at HOCH deeper zones in ~ 3 weeks

Wireline logging has identified 4–6 m of net gas pay across seven intervals within the deeper Base Hall channel formation (1,465–1,617 m).

Auctus Advisors

ADX Energy (ASX: ADX): Resources upgrade expected in early 2Q26. Shallow drilling result due next week

• 1Q26 net production was ~200 boe/d. ADX held A$4.9 mm in cash at the end of March. • The shallow‑gas HOCH‑1 well in Austria is expected to reach...

Auctus Advisors

AUCTUS ON FRIDAY - 04.09.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Additional exploration...

Auctus Advisors

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52-week Range

Market Cap (USDm)

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ADX Energy (ASX: ADX): High flow rate from single Zone at HOCH first well test

Zone 1 delivered a stable, water‑free gas flow averaging 2.7 mmcf/d over an 11‑hour test, with a steady flowing wellhead pressure of 870 psi.

Auctus Advisors

AUCTUS ON FRIDAY - 18.09.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Industry partner for GOLD...

Auctus Advisors

ADX Energy (ASX: ADX): Well test at HOCH deeper zones in ~ 3 weeks

Wireline logging has identified 4–6 m of net gas pay across seven intervals within the deeper Base Hall channel formation (1,465–1,617 m).

Auctus Advisors

ADX Energy (ASX: ADX): Resources upgrade expected in early 2Q26. Shallow drilling result due next week

• 1Q26 net production was ~200 boe/d. ADX held A$4.9 mm in cash at the end of March. • The shallow‑gas HOCH‑1 well in Austria is expected to reach...

Auctus Advisors

AUCTUS ON FRIDAY - 04.09.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Additional exploration...

Auctus Advisors

Zone 1 delivered a stable, water‑free gas flow averaging 2.7 mmcf/d over an 11‑hour test, with a steady flowing wellhead pressure of 870 psi.