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>AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: AB wells deliver flow rates above expectations – Current production ranges between 4,600 and 4,800 bbl/d driven by strong performance from two new horizontal wells at Alberta Llanos (AB).</li><li>AB-HZ5, onstream for ~2 weeks, is producing 1,790 bbl/d (895 bbl/d net to Arrow), while AB-HZ4, online for over a month, continues to produce 880 bbl/d (440 bbl/d net).</li><li>Both wells are outperforming expectations in terms of flow rates and pressure, which may positively impact reserves estimates.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: AB wells deliver flow rates above expectations – Current production ranges between 4,600 and 4,800 bbl/d driven by strong performance from two new horizontal wells at Alberta Llanos (AB).AB-HZ5, onstream for ~2 weeks, is producing 1,790 bbl/d (895 bbl/d net to Arrow), while AB-HZ4, online for over a month, continues to produce 880 bbl/d (440 bbl/d net).Both wells are outperforming expectations in terms of flow rates and pressure, which may positively impact reserves estimates.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZ CN)C: Equity raise – New Zealand will raise up to C$3 mm of new equity at a price of C$0.18 per share.</li><li>This includes the settlement of outstanding loans of C$0.3 mm through the issue of ~1.7 mm shares.</li><li> Valeura Energy (VLE CN)C; Target price of C$12.70 per share: Another strong quarter.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZ CN)C: Equity raise – New Zealand will raise up to C$3 mm of new equity at a price of C$0.18 per share.This includes the settlement of outstanding loans of C$0.3 mm through the issue of ~1.7 mm shares. Valeura Energy (VLE CN)C; Target price of C$12.70 per share: Another strong quarter.

<ul><li>Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions?</li><li>– 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.</li><li>RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.</li></ul>

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions?– 1Q25 production was 4,085 boe/d with no horizontal wells drilled in the period.RCE is more mature than CN and while no drilling has taken place at RCE, the decline rate between 4Q24 and 1Q25 was only ~5%.

<ul><li>AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels.</li><li>The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir.</li><li>The well is in the process of cleaning up, with the water cut gradually decreasing.</li></ul>

AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels.The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir.The well is in the process of cleaning up, with the water cut gradually decreasing.

<ul>
<li>Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells - Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field.</li>
<li>The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came in structurally lower than anticipated, resulting in sub-economic oil rates from the Carbonera sandstones.</li>
<li>Additional zones can be completed at a later stage.</li>
</ul>


Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells - Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field.
The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came in structurally lower than anticipated, resulting in sub-economic oil rates from the Carbonera sandstones.
Additional zones can be completed at a later stage.


Austria

OMV AG explores for and refines crude oil and natural gas.  The Company sells refined products through gas stations and distributors.  The Company also manufactures plastics such as polyolefins and technical plastics.  Customers are in the automotive, electrical, and construction industries.

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OMV AG (OMV AV)

AUCTUS ON FRIDAY - 18/07/2025

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: AB wells deliver...

Auctus Advisors

AUCTUS ON FRIDAY - 11/07/2025

AUCTUS PUBLICATIONS ________________________________________ New Zealand Energy (NZ CN)C: Equity raise – New Zealand will raise up to C$3 mm of...

Auctus Advisors

AUCTUS ON FRIDAY - 30/05/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: Gearing-up for acquisitions? – 1Q25 production was 4,085 boe/d with no horizontal...

Auctus Advisors

AUCTUS ON FRIDAY - 11/04/2025

AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is...

Auctus Advisors

AUCTUS ON FRIDAY - 02/07/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with...

Auctus Advisors

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