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>Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and other well data.</li>
<li>While this means that the energy equivalent hydrocarbon volumes may be smaller than the original pre-drill estimates, onshore oil can be more valuable than gas to a small company due to the ability to produce and progressively develop a field without having to first prove up sufficient reserves to underwrite a pipeline and secure a gas contract.</li>
<li>Welchau is estimated to hold 90-95% oil and the production from Welchau-1 could be trucked to a point of sale or to ADX’s existing 3,000 bbl/d Anshof facility for processing when stable flows can be established.</li>
</ul>


Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and other well data.
While this means that the energy equivalent hydrocarbon volumes may be smaller than the original pre-drill estimates, onshore oil can be more valuable than gas to a small company due to the ability to produce and progressively develop a field without having to first prove up sufficient reserves to underwrite a pipeline and secure a gas contract.
Welchau is estimated to hold 90-95% oil and the production from Welchau-1 could be trucked to a point of sale or to ADX’s existing 3,000 bbl/d Anshof facility for processing when stable flows can be established.


ADX Energy (ASX: ADX): Welchau Is About Oil Rather than Gas: Perhaps Smaller but Higher Value Boe

<ul>
<li>The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.</li>
<li>The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).</li>
<li>The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.</li>
</ul>


The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.
The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).
The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.


ADX Energy (ASX: ADX): Production Boost at Anshof in October

<ul>
<li>Independent consultants have calculated that each of the three reservoirs encountered at Welchau (Reifling - 128 metres, Steinalm -118 metres and the Guttenstein - 111 metres) are hydrocarbon bearing with uncertainty on the hydrocarbon type.</li>
<li>Laboratory work on the Steinalm reservoir has confirmed the full properties ofthe 43° API light sweet oil that was recovered in an MDT sample run in the Steinalm Formation.</li>
<li>The vertical extent of this light oil in the Steinalm or in the shallower Reifling and deeper Guttenstein is uncertain and there is no clear evidence of a hydrocarbon-water contact in any of the reservoir formations based on the open hole wireline log data.</li>
</ul>


Independent consultants have calculated that each of the three reservoirs encountered at Welchau (Reifling - 128 metres, Steinalm -118 metres and the Guttenstein - 111 metres) are hydrocarbon bearing with uncertainty on the hydrocarbon type.
Laboratory work on the Steinalm reservoir has confirmed the full properties ofthe 43° API light sweet oil that was recovered in an MDT sample run in the Steinalm Formation.
The vertical extent of this light oil in the Steinalm or in the shallower Reifling and deeper Guttenstein is uncertain and there is no clear evidence of a hydrocarbon-water contact in any of the reservoir formations based on the open hole wireline log data.


ADX Energy (ASX: ADX): Reflections on Welchau

<ul>
<li>ADX has confirmed a very busy programme of activity from September.</li>
<li>The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price.</li>
<li>In early September, ADX will drill the Anshof-2A side track.</li>
</ul>


ADX has confirmed a very busy programme of activity from September.
The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price.
In early September, ADX will drill the Anshof-2A side track.


ADX Energy (ASX: ADX): Diversified and High Impact Newsflow over the Balance of 2024

<ul>
<li>ADX has raised A$13.5 mm of new equity priced at A$0.105 per share.</li>
<li>One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026.</li>
<li>The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at the Welchau exploration well (the well might also be deepened to assess the exploration potential below the current total depth of the well), (2) the residual drilling cost (net of the carry provided by MND) of a gas exploration well on the ADX-AT-I licence, (3) the residual cost (net of the carry provided by MND) of the drilling and tie-in the Anshof-2A sidetrack and (4) upgrades to the gas processing facilities at ADX’s Vienna Basin fields.</li>
</ul>


ADX has raised A$13.5 mm of new equity priced at A$0.105 per share.
One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026.
The proceeds from the raise will fund (1) the production testing of the 450 m gas column encountered at the Welchau exploration well (the well might also be deepened to assess the exploration potential below the current total depth of the well), (2) the residual drilling cost (net of the carry provided by MND) of a gas exploration well on the ADX-AT-I licence, (3) the residual cost (net of the carry provided by MND) of the drilling and tie-in the Anshof-2A sidetrack and (4) upgrades to the gas processing facilities at ADX’s Vienna Basin fields.


ADX Energy (ASX: ADX): Important step to unlock Sicily

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): Welchau Is About Oil Rather than Gas: Perhaps Smaller but Higher Value Boe

Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and...

Auctus Advisors

ADX Energy (ASX: ADX): Production Boost at Anshof in October

The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.

Auctus Advisors

ADX Energy (ASX: ADX): Reflections on Welchau

Laboratory work on the Steinalm reservoir has confirmed the full properties ofthe 43° API light sweet oil that was recovered in an MDT sample run...

Auctus Advisors

ADX Energy (ASX: ADX): Diversified and High Impact Newsflow over the Balance of 2024

The overall unrisked value of the programme is ~A$1.70 per share, which represents 17x the current share price. In early September, ADX will drill...

Auctus Advisors

ADX Energy (ASX: ADX): Important step to unlock Sicily

One free-attaching option will be issued for evert two placement shares with an exercise price of A$0.15 per share and an expiry date of 08/05/2026.

Auctus Advisors

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