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 funding package associated with the acquisition of Mont d’Or (MOPL) has been upsized from C$15.3 mm to C$18.9 mm.</li>
<li>This comprises C$12.2 mm of convertible (C$10 mm previously) and C$6.7 mm of new equity (C$5.3 mm previously).</li>
<li>The convertible holder will also be issued 76.25 mm warrants (62.5 mm previously) at an exercise price C$0.14/sh.</li>
</ul>


The funding package associated with the acquisition of Mont d’Or (MOPL) has been upsized from C$15.3 mm to C$18.9 mm.
This comprises C$12.2 mm of convertible (C$10 mm previously) and C$6.7 mm of new equity (C$5.3 mm previously).
The convertible holder will also be issued 76.25 mm warrants (62.5 mm previously) at an exercise price C$0.14/sh.


Criterium Energy Ltd (TSX-V: CEQ): Funding for Indonesia acquisition upsized

<ul>
<li>Criterium has renegotiated the terms of the Mont d’Or (MOPL) acquisition.</li>
<li>Tourmalet (a subsidiary of Provident Capital Partners, the seller of MOPL) will, as before, be issued US$1 mm in Criterium shares at closing.</li>
<li>Criterium is raising new capital of C$15.3 mm, comprising C$10 mm of convertible debt plus C$5.3 mm of new equity.</li>
</ul>


Criterium has renegotiated the terms of the Mont d’Or (MOPL) acquisition.
Tourmalet (a subsidiary of Provident Capital Partners, the seller of MOPL) will, as before, be issued US$1 mm in Criterium shares at closing.
Criterium is raising new capital of C$15.3 mm, comprising C$10 mm of convertible debt plus C$5.3 mm of new equity.


Criterium Energy Ltd (TSX-V: CEQ): Transactions repriced on more attractive terms

<ul><li>• The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt.</li><li>Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months.</li><li>With operating netbacks of ~US$38/bbl at US$75/bbl Brent, the assets are very low risk and very resilient to a low oil price.</li></ul>

• The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt.Each subscription receipt will convert into a unit comprising one share and one warrant with an exercise price of C$0.25 per share valid for 36 months.With operating netbacks of ~US$38/bbl at US$75/bbl Brent, the assets are very low risk and very resilient to a low oil price.

Criterium Energy Ltd (TSX-V: CEQ): Initiating Coverage

<ul><li>Criterium is delivering on its plans by acquiring Mont D’Or Petroleum with long life and high netback production of 1,050 bbl/d and 4.7 mmbbl 2P reserves across 2 PSCs in Indonesia (Tungkal in South Sumatra and West Salawati in Southwest Papua).</li><li>With important spare capacity in existing infrastructure and very low drilling costs (US 5 mm per well) at Tungkal, Criterium plans to increase production by ~50% by the end of 1Q24 and to ~3 mbbl/d by YE25 within cashflow.</li><li>Including existing cash of ~US$9 mm in Mont D’Or and ~US$2 mm at Criterium, Criterium will hold ~US$17 mm in cash and US$19.7 mm in debt on closing.</li></ul>

Criterium is delivering on its plans by acquiring Mont D’Or Petroleum with long life and high netback production of 1,050 bbl/d and 4.7 mmbbl 2P reserves across 2 PSCs in Indonesia (Tungkal in South Sumatra and West Salawati in Southwest Papua).With important spare capacity in existing infrastructure and very low drilling costs (US 5 mm per well) at Tungkal, Criterium plans to increase production by ~50% by the end of 1Q24 and to ~3 mbbl/d by YE25 within cashflow.Including existing cash of ~US$9 mm in Mont D’Or and ~US$2 mm at Criterium, Criterium will hold ~US$17 mm in cash and US$19.7 mm in debt on closing.

Criterium Energy Ltd (TSX-V: CEQ): Transformational acquisition in Indonesia

<ul><li>The FY22 financials were in line with our expectations.</li><li>This could be an indication that the company is close to announcing an acquisition and/or an equity transaction.</li><li>We note that the share price of Conrad Asia Energy (the closest comparable to Criterium based on its current asset base) has been very resilient.</li></ul>

The FY22 financials were in line with our expectations.This could be an indication that the company is close to announcing an acquisition and/or an equity transaction.We note that the share price of Conrad Asia Energy (the closest comparable to Criterium based on its current asset base) has been very resilient.

Criterium Energy Ltd (TSX-V: CEQ): On Track for near Term Acquisition

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): Funding for Indonesia acquisition upsized

• The funding package associated with the acquisition of Mont d’Or (MOPL) has been upsized from C$15.3 mm to C$18.9 mm. • This comprises C$12.2 mm...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Transactions repriced on more attractive terms

Tourmalet (a subsidiary of Provident Capital Partners, the seller of MOPL) will, as before, be issued US$1 mm in Criterium shares at closing.

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Initiating Coverage

• The C$22 mm offering for the acquisition of Mont D’Or Petroleum has been priced at C$0.20 per subscription receipt. Each subscription receipt...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): Transformational acquisition in Indonesia

Criterium is delivering on its plans by acquiring Mont D’Or Petroleum with long life and high netback production of 1,050 bbl/d and 4.7 mmbbl 2P...

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): On Track for near Term Acquisition

The FY22 financials were in line with our expectations. This could be an indication that the company is close to announcing an acquisition and/or...

Auctus Advisors

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