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 M‑11 well has been brought online from the C7 formation, which contains 18 ft of net pay, at 784 bbl/d (392 bbl/d net) with a 26% water cut.</li>
<li>The well also intersected ~30 ft of net oil pay in the C9, which will be brought into production at a later stage.</li>
<li>Net production from the M‑7 and M‑9 horizontal wells has increased materially, rising from 625 bbl/d and 425 bbl/d to 1,008 bbl/d and 693 bbl/d, respectively, following pump‑speed optimisation.</li>
</ul>


The M‑11 well has been brought online from the C7 formation, which contains 18 ft of net pay, at 784 bbl/d (392 bbl/d net) with a 26% water cut.
The well also intersected ~30 ft of net oil pay in the C9, which will be brought into production at a later stage.
Net production from the M‑7 and M‑9 horizontal wells has increased materially, rising from 625 bbl/d and 425 bbl/d to 1,008 bbl/d and 693 bbl/d, respectively, following pump‑speed optimisation.


Arrow Exploration Corp. (AIM: AXL): Good flow rate at M-11. Very strong performance at Mateguafa Attic Hz wells

Thematic (Sector/Industry)

<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.

<ul>
<li>Production has increased to 5,325 boe/d, up from 4,900 boe/d in early March, driven by rising output from the M‑9 Hz well.</li>
<li>Further growth is expected with the imminent addition of the M‑11 well, which encountered 48 ft of net pay across the C7 and C9 formations and is scheduled to be brought online in the coming weeks.</li>
<li>M‑11 intersected both zones structurally higher than any previous Mateguafa Attic well, extending the structure southward and confirming additional development potential.</li>
</ul>


Production has increased to 5,325 boe/d, up from 4,900 boe/d in early March, driven by rising output from the M‑9 Hz well.
Further growth is expected with the imminent addition of the M‑11 well, which encountered 48 ft of net pay across the C7 and C9 formations and is scheduled to be brought online in the coming weeks.
M‑11 intersected both zones structurally higher than any previous Mateguafa Attic well, extending the structure southward and confirming additional development potential.


Arrow Exploration Corp. (AIM: AXL): High production, reserves addition at Tapir

<ul>
<li>The M‑10 vertical well encountered approximately 20 ft of net oil pay with 20% porosity in the C7 formation, and around 25 ft of net oil pay in the C9.</li>
<li>The C7 has been brought onstream on a very small 25/128 choke, producing 1,100 bbl/d gross (550 bbl/d net) of 31° API oil with a 6% water cut.</li>
<li>This is a notably strong rate compared with other vertical wells at Mateguafa.</li>
</ul>


The M‑10 vertical well encountered approximately 20 ft of net oil pay with 20% porosity in the C7 formation, and around 25 ft of net oil pay in the C9.
The C7 has been brought onstream on a very small 25/128 choke, producing 1,100 bbl/d gross (550 bbl/d net) of 31° API oil with a 6% water cut.
This is a notably strong rate compared with other vertical wells at Mateguafa.


Arrow Exploration Corp. (AIM: AXL): Two Positive Well Results. Low Decline Rate at Mateguafa

<ul><li>• The M-8 well has been brought onstream in the C9 formation (30 ft of oil pay) at 230 bbl/d gross (115 bbl/d net) on a 28/128 choke with 78% water cut.</li><li>The three C7 intervals did not flow commercial hydrocarbons.</li><li>The well also encountered 12 ft of net pay in the Gacheta.</li></ul>

• The M-8 well has been brought onstream in the C9 formation (30 ft of oil pay) at 230 bbl/d gross (115 bbl/d net) on a 28/128 choke with 78% water cut.The three C7 intervals did not flow commercial hydrocarbons.The well also encountered 12 ft of net pay in the Gacheta.

Arrow Exploration Corp. (AIM: AXL): High production on low decline at Mateguafa

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 M-11. Very strong performance at Mateguafa Attic Hz wells

The M‑11 well has been brought online from the C7 formation, which contains 18 ft of net pay, at 784 bbl/d (392 bbl/d net) with a 26% water cut.

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

Arrow Exploration Corp. (AIM: AXL): High production, reserves addition at Tapir

M‑11 intersected both zones structurally higher than any previous Mateguafa Attic well, extending the structure southward and confirming additional...

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): Two Positive Well Results. Low Decline Rate at Mateguafa

The M‑10 vertical well encountered approximately 20 ft of net oil pay with 20% porosity in the C7 formation, and around 25 ft of net oil pay in the...

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): High production on low decline at Mateguafa

• The M-8 well has been brought onstream in the C9 formation (30 ft of oil pay) at 230 bbl/d gross (115 bbl/d net) on a 28/128 choke with 78%...

Auctus Advisors

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