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>Canacol Energy has exercised 18.4 mm warrants. The company will now hold 60.1 mm shares in Arrow representing 21.2% of the issued share capital.</li>
<li>Tim Leslie has exercised 10.2 mm warrants, which more than doubles his interest from 7.6 mm shares to 17.8 mm shares.</li>
<li>This represents 6.3% of the issued share capital.</li>
</ul>


Canacol Energy has exercised 18.4 mm warrants. The company will now hold 60.1 mm shares in Arrow representing 21.2% of the issued share capital.
Tim Leslie has exercised 10.2 mm warrants, which more than doubles his interest from 7.6 mm shares to 17.8 mm shares.
This represents 6.3% of the issued share capital.


Arrow Exploration Corp. (AIM: AXL): Large Shareholders Increase Stake in Arrow

<ul>
<li>A 23 foot pay zone (25% porosity) in the Carbonera C7 formation in the CN-3 well has been perforated and put initially on production at a rate of 1,149 bbl/d on pump with a water cut of &lt;0.5%. </li>
<li>We view this low water cut as very encouraging. The oil is very light (33 deg API).</li>
<li>The ESP has now been shut off and the well is naturally flowing on a 23/128 choke at a rate of 640 bbl/d gross (320 bbl/d net).</li>
</ul>


A 23 foot pay zone (25% porosity) in the Carbonera C7 formation in the CN-3 well has been perforated and put initially on production at a rate of 1,149 bbl/d on pump with a water cut of &lt;0.5%. 
We view this low water cut as very encouraging. The oil is very light (33 deg API).
The ESP has now been shut off and the well is naturally flowing on a 23/128 choke at a rate of 640 bbl/d gross (320 bbl/d net).


Arrow Exploration Corp. (AIM: AXL): Good Flow Rate in the C7 at Carrizales Norte-3

<ul>
<li>The 2P reserves at Carrizales Norte (net to Arrow) have been estimated at 3.92 mmbbl with an 3P upside case of 6.62 mmbbl (1.82 mmbbl of 1P reserves).</li>
<li>The 2P reserves of Carrizales Norte are also 2x the pre drill estimate (1.8 mmbbl), which is in line with our estimate (4 mmbbl).</li>
<li>The Ubaque reservoir alone is estimated to hold ~3 mmbbl of 2P reserves (out of 3.92 mmbbl total 2P reserves at Carrizales Norte).</li>
</ul>


The 2P reserves at Carrizales Norte (net to Arrow) have been estimated at 3.92 mmbbl with an 3P upside case of 6.62 mmbbl (1.82 mmbbl of 1P reserves).
The 2P reserves of Carrizales Norte are also 2x the pre drill estimate (1.8 mmbbl), which is in line with our estimate (4 mmbbl).
The Ubaque reservoir alone is estimated to hold ~3 mmbbl of 2P reserves (out of 3.92 mmbbl total 2P reserves at Carrizales Norte).


Arrow Exploration Corp. (AIM: AXL): Tripling 2P reserves at Tapir

<ul>
<li>The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation. </li>
<li>The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize recovery factor.</li>
<li>The net pay encountered in the Ubaque at CN-2, the oil quality and the achieved flow rate are consistent with the Ubaque at CN-1.</li>
</ul>


The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation. 
The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize recovery factor.
The net pay encountered in the Ubaque at CN-2, the oil quality and the achieved flow rate are consistent with the Ubaque at CN-1.


Arrow Exploration Corp. (AIM: AXL): CN-2 Flows at up to 1 Mbbl/D.

<ul><li>The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow). </li><li>During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.</li><li>The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).</li></ul>

The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow). During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).

Arrow Exploration Corp. -  CN-1 Well in Production at 1.1 Mbbl/D from the C7 Sands

Canada

Arrow Exploration is a Canadian junior oil and gas company focused on the acquisition, exploration, development, and production of crude oil and natural gas properties. The company operates in two segments: Colombia, its core area of operations, and Canada. Its primary assets are in Colombia's Llanos and Middle Magdalena Basins. The company was formed in 2018 and is headquartered in Calgary, Canada.

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Arrow Exploration (AXL LN)

Arrow Exploration Corp. (AIM: AXL): Large Shareholders Increase Stake in Arrow

Canacol Energy has exercised 18.4 mm warrants. The company will now hold 60.1 mm shares in Arrow representing 21.2% of the issued share capital.

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): Good Flow Rate in the C7 at Carrizales Norte-3

A 23 foot pay zone (25% porosity) in the Carbonera C7 formation in the CN-3 well has been perforated and put initially on production at a rate of...

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): Tripling 2P reserves at Tapir

The 2P reserves at Carrizales Norte (net to Arrow) have been estimated at 3.92 mmbbl with an 3P upside case of 6.62 mmbbl (1.82 mmbbl of 1P reserves).

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): CN-2 Flows at up to 1 Mbbl/D.

The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize...

Auctus Advisors

Arrow Exploration Corp. - CN-1 Well in Production at 1.1 Mbbl/D from the C7 Sands

The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow).

Auctus Advisors

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