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 EI-1 well at the Irai gas field in Brazil has been tested at a rate of 120 boe/d (~0.7 mmcf/d). The well had been shut-in since 2022.</li>
<li>This test rate exceeds our forecast of ~0.5 mmcf/d for the first quarter of production, achieved within three months from signing the agreement with Irai's owner. </li>
<li>Once onstream, production from the EI-1 well will boost production from the existing EI-3 well, which we estimate at ~0.6-0.7 mmcf/d. </li>
</ul>


The EI-1 well at the Irai gas field in Brazil has been tested at a rate of 120 boe/d (~0.7 mmcf/d). The well had been shut-in since 2022.
This test rate exceeds our forecast of ~0.5 mmcf/d for the first quarter of production, achieved within three months from signing the agreement with Irai's owner. 
Once onstream, production from the EI-1 well will boost production from the existing EI-3 well, which we estimate at ~0.6-0.7 mmcf/d. 


Corcel Plc (AIM: CRCL): Successful Workover in Brazil

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

<ul>
<li>The international developer, manufacturer, and regulatory services provider for rapid diagnostic tests and medtech announces the launch of a seaweed-based alternative housing for its contract development and manufacturing customers for the development and manufacture of lateral flow tests.</li>
<li>The Company has agreed an exclusive supply agreement with Wolverhampton based Symbio Technologies Ltd for the supply of compostable bio-based material derived from red-seaweed which can be used to produce lateral flow cassettes via standard injection moulding techniques.</li>
<li>This option will provide an alternative to the standard plastic houses that are currently used and create opportunity for Abingdon customers to significantly reduce their plastic waste.</li>
</ul>


The international developer, manufacturer, and regulatory services provider for rapid diagnostic tests and medtech announces the launch of a seaweed-based alternative housing for its contract development and manufacturing customers for the development and manufacture of lateral flow tests.
The Company has agreed an exclusive supply agreement with Wolverhampton based Symbio Technologies Ltd for the supply of compostable bio-based material derived from red-seaweed which can be used to produce lateral flow cassettes via standard injection moulding techniques.
This option will provide an alternative to the standard plastic houses that are currently used and create opportunity for Abingdon customers to significantly reduce their plastic waste.


Aura Energy Ltd - Hybridan Small Cap Feast: 06 November 2025

Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU)C; Target price of A$0.30 per share: Busy 1H26 – 3Q25 WI sales averaged 251 boe/d, in line with expectations.</li>
<li>The company held ~A$4 mm in cash at the end of September, also in line with forecasts.</li>
<li>A busy operational period is anticipated in 1H26.</li>
</ul>


ADX Energy (ADX AU)C; Target price of A$0.30 per share: Busy 1H26 – 3Q25 WI sales averaged 251 boe/d, in line with expectations.
The company held ~A$4 mm in cash at the end of September, also in line with forecasts.
A busy operational period is anticipated in 1H26.


<ul>
<li>Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa Oeste was water wet.</li>
<li>Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast.</li>
<li>The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. </li>
</ul>


Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa Oeste was water wet.
Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast.
The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. 


<ul>
<li>ADX Energy (ADX AU)C; Target price of A$0.30 per share: Favourable court ruling allows Welchau testing operations to resume – The Upper Austrian State Administrative Court has rejected objections from environmental activist groups regarding drilling and testing at Welchau.</li>
<li>The court confirmed that Environmental Clearances were issued in full compliance with applicable regulations.</li>
<li>ADX is now authorized to resume operations at the Welchau-1 site during the winter drilling window, spanning 1 October to 31 March.</li>
</ul>


ADX Energy (ADX AU)C; Target price of A$0.30 per share: Favourable court ruling allows Welchau testing operations to resume – The Upper Austrian State Administrative Court has rejected objections from environmental activist groups regarding drilling and testing at Welchau.
The court confirmed that Environmental Clearances were issued in full compliance with applicable regulations.
ADX is now authorized to resume operations at the Welchau-1 site during the winter drilling window, spanning 1 October to 31 March.


United Kingdom

Corcel Plc operates as a mining and mineral resource development company. The Company focuses on battery metals exploration and flexible grid solutions. Corcel serves customers in the United Kingdom.

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Corcel (CRCL LN)

Corcel Plc (AIM: CRCL): Successful Workover in Brazil

The EI-1 well at the Irai gas field in Brazil has been tested at a rate of 120 boe/d (~0.7 mmcf/d). The well had been shut-in since 2022.

Auctus Advisors

Aura Energy Ltd - Hybridan Small Cap Feast: 06 November 2025

The international developer, manufacturer, and regulatory services provider for rapid diagnostic tests and medtech announces the launch of a...

Hybridan

AUCTUS ON FRIDAY - 07/11/2025

ADX Energy (ADX AU)C; Target price of A$0.30 per share: Busy 1H26 – 3Q25 WI sales averaged 251 boe/d, in line with expectations.

Auctus Advisors

AUCTUS ON FRIDAY - 03/10/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa...

Auctus Advisors

AUCTUS ON FRIDAY - 26/09/2025

The Upper Austrian State Administrative Court has rejected objections from environmental activist groups regarding drilling and testing at Welchau.

Auctus Advisors

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