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>The RCE-4 well has been put in production.</li><li>This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net).</li><li>Increasing production at RCE-3 Production has RCE-3 has increased from 650 bbl/d (325 bbl/d net) as per last week’s press release to 822 bbl/d (411 bbl/d).</li></ul>

The RCE-4 well has been put in production.This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net).Increasing production at RCE-3 Production has RCE-3 has increased from 650 bbl/d (325 bbl/d net) as per last week’s press release to 822 bbl/d (411 bbl/d).

Arrow Exploration Corp. (AIM: AXL): Good flow rate at RCE-4

<ul><li>The RCE-4 well encountered 45 feet of net oil pay, including 25 feet in the Carbonera C7 and 20 feet in the Lower Gacheta.</li><li>The 25 feet encountered in the Carbonera C7 at RCE-4 compares with 19 feet in the same sand at RCE-3, 16 feet at RCE-2 and 38 feet at RCS-1 (C7A and C7B sands). </li><li>RCE-2 is currently producing ~ 500 bbl/d (net to Arrow), RCS-1 is at &gt;350 bbl/d (net) while RCE-3 is producing ~325 bbl/d (net).</li></ul>

The RCE-4 well encountered 45 feet of net oil pay, including 25 feet in the Carbonera C7 and 20 feet in the Lower Gacheta.The 25 feet encountered in the Carbonera C7 at RCE-4 compares with 19 feet in the same sand at RCE-3, 16 feet at RCE-2 and 38 feet at RCS-1 (C7A and C7B sands). RCE-2 is currently producing ~ 500 bbl/d (net to Arrow), RCS-1 is at &gt;350 bbl/d (net) while RCE-3 is producing ~325 bbl/d (net).

Arrow Exploration Corp. (AIM: AXL): Another good well result

<ul><li>The RCE-3 well flowed naturally at rates equivalent to 2,000 bbl/d gross (1,000 bbl/d net to Arrow) over four hours after unloading the kill fluid.</li><li>In the last 24 hours, the well has produced at a rate of 968 bbl/d (483 bbl/d net to Arrow) with 0% water cut. </li><li>This is a very good result at the top end of expectations of 500-1,000 bbl/d (300-500 bbl/d net to Arrow).</li></ul>

The RCE-3 well flowed naturally at rates equivalent to 2,000 bbl/d gross (1,000 bbl/d net to Arrow) over four hours after unloading the kill fluid.In the last 24 hours, the well has produced at a rate of 968 bbl/d (483 bbl/d net to Arrow) with 0% water cut. This is a very good result at the top end of expectations of 500-1,000 bbl/d (300-500 bbl/d net to Arrow).

Arrow Exploration Corp. (AIM: AXL): High Flow Rate at RCE-3

<ul><li>RCE-3, the first well of the FY23 10 well drilling programme, has encountered 58 feet of net oil pay across seven hydrocarbon bearing intervals.</li><li>The total 58 feet of net pay compares with 55 feet in the RCS-1 well and 80 feet in the RCE-2 well.</li><li>Importantly, ~500 bbl/d net production comes from 16 feet in the C7 at RCE-2 while the C7A and C7B produces ~350 bbl/d (net) at RCS-1 from a total 38 feet of net pay.</li></ul>

RCE-3, the first well of the FY23 10 well drilling programme, has encountered 58 feet of net oil pay across seven hydrocarbon bearing intervals.The total 58 feet of net pay compares with 55 feet in the RCS-1 well and 80 feet in the RCE-2 well.Importantly, ~500 bbl/d net production comes from 16 feet in the C7 at RCE-2 while the C7A and C7B produces ~350 bbl/d (net) at RCS-1 from a total 38 feet of net pay.

Arrow Exploration Corp. (AIM: AXL): Positive drilling results at RCE-3

<ul><li>Arrow is about to embark on a 10 well drilling programme that could add between 2,800 and 4,800 boe/d net production (before decline and in a success case) to the existing constrained production base of ~1,800 boe/d.</li><li>Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper.</li><li>This compares with production rate of 1,900-2,000 in November which included an initial high contribution at East Pepper (that has since declined, as expected).</li></ul>

Arrow is about to embark on a 10 well drilling programme that could add between 2,800 and 4,800 boe/d net production (before decline and in a success case) to the existing constrained production base of ~1,800 boe/d.Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper.This compares with production rate of 1,900-2,000 in November which included an initial high contribution at East Pepper (that has since declined, as expected).

Arrow Exploration Corp. (AIM: AXL): On track for a very busy 2023

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): Good flow rate at RCE-4

The RCE-4 well has been put in production. This is a similar result as at RCE-3 (24 h flow rate of 968 bbl/d gross/484 bbl/d net).

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): Another good well result

The 25 feet encountered in the Carbonera C7 at RCE-4 compares with 19 feet in the same sand at RCE-3, 16 feet at RCE-2 and 38 feet at RCS-1 (C7A...

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): High Flow Rate at RCE-3

The RCE-3 well flowed naturally at rates equivalent to 2,000 bbl/d gross (1,000 bbl/d net to Arrow) over four hours after unloading the kill fluid

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): Positive drilling results at RCE-3

RCE-3, the first well of the FY23 10 well drilling programme, has encountered 58 feet of net oil pay across seven hydrocarbon bearing intervals.

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): On track for a very busy 2023

Arrow is about to embark on a 10 well drilling programme that could add between 2,800 and 4,800 boe/d net production (before decline and in a...

Auctus Advisors

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