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>2Q26 production of 627 bbl/d and the end‑June cash position were previously disclosed.</li>
<li>Criterium has executed a definitive Gas Sales Agreement with PGN (PT Perusahaan Gas Negara), securing gas sales through 2040.</li>
<li>The contract includes a take‑or‑pay commitment and a sales price at the upper end of the US$6.5–7.6/mcf range.</li>
</ul>


2Q26 production of 627 bbl/d and the end‑June cash position were previously disclosed.
Criterium has executed a definitive Gas Sales Agreement with PGN (PT Perusahaan Gas Negara), securing gas sales through 2040.
The contract includes a take‑or‑pay commitment and a sales price at the upper end of the US$6.5–7.6/mcf range.


Criterium Energy Ltd (TSX-V: CEQ): GSA Signed at SE‑MGH; First Gas Now 3–4 Weeks Away

<ul><li>• Criterium continues to target first gas in 3Q26.</li><li>The company received a gas allocation letter from SKK MIGAS in June, a critical milestone toward finalizing the binding Gas Sales Agreement.</li><li>Both the GSA and a Facility Sharing Agreement now await regulatory approval.</li></ul>

• Criterium continues to target first gas in 3Q26.The company received a gas allocation letter from SKK MIGAS in June, a critical milestone toward finalizing the binding Gas Sales Agreement.Both the GSA and a Facility Sharing Agreement now await regulatory approval.

Criterium Energy Ltd (TSX-V: CEQ): First gas confirmed for 3Q26. Encouraging results at Lemat

<ul>
<li>1Q26 production averaged 689 bbl/d, in line with prior indications.</li>
<li>Volumes are expected to be above 700 bbl/d for the remainder of the year, supported by straightforward workovers using the existing rig.</li>
<li>This is - consistent with our forecasts.</li>
</ul>


1Q26 production averaged 689 bbl/d, in line with prior indications.
Volumes are expected to be above 700 bbl/d for the remainder of the year, supported by straightforward workovers using the existing rig.
This is - consistent with our forecasts.


Criterium Energy Ltd (TSX-V: CEQ): First Gas Mid 3Q26. High Realizations.

Thematic (Sector/Industry)

<ul><li>AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price of C$0.40 per share: Facility sharing contract signed – Criterium has signed a facility sharing agreement with Jindi, granting access to the 30 mmcf/d TRGP and 60 km pipeline to the Sekernan gas sales point.</li><li>This represents the last commercial hurdle to reach first gas.</li><li> Corcel (CRCL LN)C; Target price of 1.40p per share: Angola approves increased position in KON-16.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price of C$0.40 per share: Facility sharing contract signed – Criterium has signed a facility sharing agreement with Jindi, granting access to the 30 mmcf/d TRGP and 60 km pipeline to the Sekernan gas sales point.This represents the last commercial hurdle to reach first gas. Corcel (CRCL LN)C; Target price of 1.40p per share: Angola approves increased position in KON-16.

<ul>
<li>FY25 production averaged 846 bbl/d, in line with prior indications.</li>
<li>Pipeline equipment for the SE–MGH tie‑in is now onsite, and construction has commenced.</li>
<li>First gas is expected around the end of 2Q26.</li>
</ul>


FY25 production averaged 846 bbl/d, in line with prior indications.
Pipeline equipment for the SE–MGH tie‑in is now onsite, and construction has commenced.
First gas is expected around the end of 2Q26.


Criterium Energy Ltd (TSX-V: CEQ): High cash. Operation on track

Canada

Criterium Energy Ltd. is a mineral exploration and mining company. The Company mines for oil and gas in southern Turkey. Criterium Energy also mines for diamonds, gold, and base metals in Greenland.

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Criterium Energy (CEQ CN)

Criterium Energy Ltd (TSX-V: CEQ): GSA Signed at SE‑MGH; First Gas Now 3–4 Weeks Away

Criterium has executed a definitive Gas Sales Agreement with PGN (PT Perusahaan Gas Negara), securing gas sales through 2040.

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): First gas confirmed for 3Q26. Encouraging results at Lemat

• Criterium continues to target first gas in 3Q26. The company received a gas allocation letter from SKK MIGAS in June, a critical milestone...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): First Gas Mid 3Q26. High Realizations.

Volumes are expected to be above 700 bbl/d for the remainder of the year, supported by straightforward workovers using the existing rig. This is -...

Auctus Advisors

AUCTUS ON FRIDAY - 11.09.2026

AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price of C$0.40 per share: Facility sharing...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): High cash. Operation on track

FY25 production averaged 846 bbl/d, in line with prior indications.Pipeline equipment for the SE–MGH tie‑in is now onsite, and construction has...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Criterium Energy Ltd (TSX-V: CEQ): GSA Signed at SE‑MGH; First Gas Now 3–4 Weeks Away

Criterium has executed a definitive Gas Sales Agreement with PGN (PT Perusahaan Gas Negara), securing gas sales through 2040.

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): First gas confirmed for 3Q26. Encouraging results at Lemat

• Criterium continues to target first gas in 3Q26. The company received a gas allocation letter from SKK MIGAS in June, a critical milestone...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): First Gas Mid 3Q26. High Realizations.

Volumes are expected to be above 700 bbl/d for the remainder of the year, supported by straightforward workovers using the existing rig. This is -...

Auctus Advisors

AUCTUS ON FRIDAY - 11.09.2026

AUCTUS PUBLICATIONS ________________________________________ Criterium Energy (CEQ CN)C; Target price of C$0.40 per share: Facility sharing...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): High cash. Operation on track

FY25 production averaged 846 bbl/d, in line with prior indications.Pipeline equipment for the SE–MGH tie‑in is now onsite, and construction has...

Auctus Advisors

Volumes are expected to be above 700 bbl/d for the remainder of the year, supported by straightforward workovers using the existing rig. This is -...