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.

Thematic (Sector/Industry)

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II.</li><li>This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis).</li><li>GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas prospects – ADX has initiated the farm-out process for the GOLD cluster of shallow gas prospects in ADX-AT-II.This cluster includes the GOLD (A&C), GOLD (B), GRAB, and ZAUN prospects, with a combined P50 prospective resource estimate of 12.1 bcf (13.3 bcf on a mean basis).GOLD accounts for 7.5 bcf, while ZAUN and GRAB hold 2.7 bcf and 1.9 bcf, respectively.

<ul>
<li>Panoro Energy (PEN NO) C ; Target price of NOK47 per share: High production in Gabon – BW Energy reported gross production in Gabon of 39.3 mbbl/d.</li>
<li>This equates to 6.9 mbbl/d net to Panoro’s 17.5% WI.</li>
<li>Galp Energia (GALP LI): 1Q25 update – 1Q25 production in Brazil was 104 mboe/d.</li>
</ul>


Panoro Energy (PEN NO) C ; Target price of NOK47 per share: High production in Gabon – BW Energy reported gross production in Gabon of 39.3 mbbl/d.
This equates to 6.9 mbbl/d net to Panoro’s 17.5% WI.
Galp Energia (GALP LI): 1Q25 update – 1Q25 production in Brazil was 104 mboe/d.


<ul>
<li>Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24 production of 2,730 boe/d was close to our expectations.</li>
<li>Arrow’s cash position of US$11.6 mm was also in line.</li>
<li>The first water disposal well at RCE is being brought into production and the conversion of the CN-4 well is currently waiting regulatory approval.</li>
</ul>


Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24 production of 2,730 boe/d was close to our expectations.
Arrow’s cash position of US$11.6 mm was also in line.
The first water disposal well at RCE is being brought into production and the conversion of the CN-4 well is currently waiting regulatory approval.


United States

ConocoPhillips explores for, produces, transports and markets crude oil, natural gas, natural gas liquids, liquefied natural gas and bitumen on a worldwide basis.

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Conocophillips (COP US)

AUCTUS ON FRIDAY - 20/06/2025

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Focus on the shallow gas...

Auctus Advisors

AUCTUS ON FRIDAY - 18/04/2025

Panoro Energy (PEN NO) C ; Target price of NOK47 per share: High production in Gabon – BW Energy reported gross production in Gabon of 39.3 mbbl/d.

Auctus Advisors

AUCTUS ON FRIDAY - 31/05/2024

Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24...

Auctus Advisors

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