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>Current production has reached 950 bbl/d, representing an increase of 90 bbl/d since August.</li>
<li>This reflects the very good performance of the work-over programme with 98 bbl/d incremental production from three new workovers in Tranche 3 from early August.</li>
<li>Overall, the programme (three tranches with a total of 11 work-overs so far) has delivered 227 bbl/d of incremental production.</li>
</ul>


Current production has reached 950 bbl/d, representing an increase of 90 bbl/d since August.
This reflects the very good performance of the work-over programme with 98 bbl/d incremental production from three new workovers in Tranche 3 from early August.
Overall, the programme (three tranches with a total of 11 work-overs so far) has delivered 227 bbl/d of incremental production.


Criterium Energy Ltd (TSX-V: CEQ): High production in September. The drilling programme has commenced

<ul>
<li>A drilling rig is scheduled to be mobilize on site in August.</li>
<li>The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the wells expected to come on production in early November at a forecasted combined rate of 300 bbl/d.</li>
<li>While this is a bit later than we anticipated, we continue to forecast that Criterium will exit 2024 with ~1,250 boe/d production.</li>
</ul>


A drilling rig is scheduled to be mobilize on site in August.
The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the wells expected to come on production in early November at a forecasted combined rate of 300 bbl/d.
While this is a bit later than we anticipated, we continue to forecast that Criterium will exit 2024 with ~1,250 boe/d production.


Criterium Energy Ltd (TSX-V: CEQ): New Drilling Expected to Start in September

<ul>
<li>The work-over programme has delivered a production increase of 180 bbl/d from six wells at a total cost of US$0.36 mm.</li>
<li>This represents an average increase of ~30 bbl/d, which is 50% above management’s expectations (20 bbl/d).</li>
<li>The overall costs are on budget.</li>
</ul>


The work-over programme has delivered a production increase of 180 bbl/d from six wells at a total cost of US$0.36 mm.
This represents an average increase of ~30 bbl/d, which is 50% above management’s expectations (20 bbl/d).
The overall costs are on budget.


Criterium Energy Ltd (TSX-V: CEQ): Results of Work-Over Campaign Above Expectations.

<ul>
<li>1Q24 production was 802 bbl/d with average realized price of US$82/bbl. This is in line with our expectations.</li>
<li>Operating netbacks for the period stood at C$2.2 mm, also in line with our expectations</li>
<li>Operating cashflow before changes in working capital was (C$0.37 mm).</li>
</ul>


1Q24 production was 802 bbl/d with average realized price of US$82/bbl. This is in line with our expectations.
Operating netbacks for the period stood at C$2.2 mm, also in line with our expectations
Operating cashflow before changes in working capital was (C$0.37 mm).


Criterium Energy Ltd (TSX-V: CEQ): Re-iterating production guidance

<ul>
<li>Criterium has signed a binding sale agreement for its interest in the Bulu PSC for US$7.75 mm in cash.</li>
<li>The price is in line with previous indications.</li>
<li>This is a very important announcement as it provides more clarity on the divestment, the proceeds of which will boost the company's balance sheet and allow it to accelerate its investment program and grow production faster.</li>
</ul>


Criterium has signed a binding sale agreement for its interest in the Bulu PSC for US$7.75 mm in cash.
The price is in line with previous indications.
This is a very important announcement as it provides more clarity on the divestment, the proceeds of which will boost the company's balance sheet and allow it to accelerate its investment program and grow production faster.


Criterium Energy Ltd (TSX-V: CEQ): Signing a binding sale agreement for Bulu for US$7.75 mm. Initial US$0.5 mm already received

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): High production in September. The drilling programme has commenced

This reflects the very good performance of the work-over programme with 98 bbl/d incremental production from three new workovers in Tranche 3 from...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): New Drilling Expected to Start in September

The two-well infill program, targeting a previously undrilled section of the MGH Field, is anticipated to commence in early September with the...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Results of Work-Over Campaign Above Expectations.

The work-over programme has delivered a production increase of 180 bbl/d from six wells at a total cost of US$0.36 mm. This represents an average...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Re-iterating production guidance

1Q24 production was 802 bbl/d with average realized price of US$82/bbl. This is in line with our expectations. Operating netbacks for the period...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Signing a binding sale agreement for Bulu for US$7.75 mm. Initial US$0.5 mm already received

Criterium has signed a binding sale agreement for its interest in the Bulu PSC for US$7.75 mm in cash. The price is in line with previous indications.

Auctus Advisors

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