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>Condor Energies (CDR CN)C; Target price of C$5.60 per share: Uzbekistan production boost: two new wells onstream in February – The first horizontal well is now onstream.</li>
<li>Only the shallower interval has been tested to date, delivering 3.6 mmcf/d.</li>
<li>The full ~1 km lateral — including the zones with the strongest gas‑show responses — has not yet been accessed.</li>
</ul>


Condor Energies (CDR CN)C; Target price of C$5.60 per share: Uzbekistan production boost: two new wells onstream in February – The first horizontal well is now onstream.
Only the shallower interval has been tested to date, delivering 3.6 mmcf/d.
The full ~1 km lateral — including the zones with the strongest gas‑show responses — has not yet been accessed.


<ul><li>Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Another positive result at Mateguafa Attic – The M-6 vertical well has encountered 30 ft of net oil pay in the Carbonera C9 formation (previously named Guadalupe).</li><li>This compares favourably with the results of the M-5 well that encountered ~ 26 feet of net oil pay in the same formation.</li><li>This result provides a strong foundation for the first horizontal well at Mateguafa (M-HZ7), already spudded and expected to come onstream in December.</li></ul>

Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Another positive result at Mateguafa Attic – The M-6 vertical well has encountered 30 ft of net oil pay in the Carbonera C9 formation (previously named Guadalupe).This compares favourably with the results of the M-5 well that encountered ~ 26 feet of net oil pay in the same formation.This result provides a strong foundation for the first horizontal well at Mateguafa (M-HZ7), already spudded and expected to come onstream in December.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Formal permit award in Italy adds gas exploration upside – ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily.</li><li>The permit has an initial term of 6 years, with the option for 2 additional 3-year renewal periods.</li><li>In the event of a commercial discovery, an exploitation concession may be granted for 20 years, extendable by a further 10 years.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Formal permit award in Italy adds gas exploration upside – ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily.The permit has an initial term of 6 years, with the option for 2 additional 3-year renewal periods.In the event of a commercial discovery, an exploitation concession may be granted for 20 years, extendable by a further 10 years.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.90 per share: 4Q25 drilling in Uzbekistan could add 26-40 mmcf/d.</li><li>First LNG in Kazakhstan in 2Q26 – 2Q25 gross production averaged 10,258 boe/d, consistent with prior indications.</li><li>Drilling of the first vertical well in Uzbekistan will begin in early September.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.90 per share: 4Q25 drilling in Uzbekistan could add 26-40 mmcf/d.First LNG in Kazakhstan in 2Q26 – 2Q25 gross production averaged 10,258 boe/d, consistent with prior indications.Drilling of the first vertical well in Uzbekistan will begin in early September.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZE CN)C; Target price of C$1.70 per share: Equity raise to progress Tariki gas storage – New Zealand Energy (NZE) has raised C$3 mm of new equity priced at C$0.18 per share.</li><li>The proceeds of the raise will fund the desktop studies required to prepare the field development plan, derisking the gas storage project ahead of expected monetization within the next 12 months.</li><li>It will also fund the repayment of the convertible note.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZE CN)C; Target price of C$1.70 per share: Equity raise to progress Tariki gas storage – New Zealand Energy (NZE) has raised C$3 mm of new equity priced at C$0.18 per share.The proceeds of the raise will fund the desktop studies required to prepare the field development plan, derisking the gas storage project ahead of expected monetization within the next 12 months.It will also fund the repayment of the convertible note.

New Zealand

New Zealand Energy Corp. is an oil and natural gas company. The Company is engaged in the exploration, acquisition and development of petroleum and natural gas assets in New Zealand.

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New Zealand Energy (NZ CN)

AUCTUS ON FRIDAY - 16.01.2026

Condor Energies (CDR CN)C; Target price of C$5.60 per share: Uzbekistan production boost: two new wells onstream in February – The first horizontal...

Auctus Advisors

AUCTUS ON FRIDAY - 28/11/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Another positive result at Mateguafa Attic – The M-6 vertical well has...

Auctus Advisors

AUCTUS ON FRIDAY - 15/08/2025

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Formal permit award in Italy...

Auctus Advisors

AUCTUS ON FRIDAY - 15/08/2025

AUCTUS PUBLICATIONS ________________________________________ Condor Energies (CDR CN)C; Target price of C$5.90 per share: 4Q25 drilling in...

Auctus Advisors

AUCTUS ON FRIDAY - 25/07/2025

AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZE CN)C; Target price of C$1.70 per share: Equity raise to...

Auctus Advisors

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