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>During flow testing activities on the Jetstream #1 and Jetstream #2 wells, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall.</li>
<li>As a result, the flow rate was constrained and the wells need to be cleaned-up before the flow tests can restart.</li>
<li>The generation of drilling fines is a frequent outcome of air drilling, a widely utilized method in numerous shale plays across various U.S. states, including Ohio, Pennsylvania, Kentucky, New Mexico, Colorado, West Virginia.</li>
</ul>


During flow testing activities on the Jetstream #1 and Jetstream #2 wells, it was discovered that drilling fines (rock dust) created by the air drilling method (that pulverizes the rock) were present within fractures and partially coating the wellbore wall.
As a result, the flow rate was constrained and the wells need to be cleaned-up before the flow tests can restart.
The generation of drilling fines is a frequent outcome of air drilling, a widely utilized method in numerous shale plays across various U.S. states, including Ohio, Pennsylvania, Kentucky, New Mexico, Colorado, West Virginia.


Pulsar Helium Inc. (TSX-V: PLSR): Flow Test Results Delayed by 6-10 Weeks

<ul>
<li>Pulsar has signed a term sheet for a US$4 mm project finance facility set to mature in March 2026.</li>
<li>The facility will bear interest at 12% per annum on any drawn amounts, with a 2% utilization fee on draws, which will be reimbursable at maturity.</li>
<li>We understand that Pulsar will be able to draw on this facility imminently.</li>
</ul>


Pulsar has signed a term sheet for a US$4 mm project finance facility set to mature in March 2026.
The facility will bear interest at 12% per annum on any drawn amounts, with a 2% utilization fee on draws, which will be reimbursable at maturity.
We understand that Pulsar will be able to draw on this facility imminently.


Pulsar Helium Inc. (TSX-V: PLSR): Accessing Project Finance Rather than Equity

<ul>
<li> The Jetstream #2 well encountered elevated helium values over a gross vertical thickness of 3,178 feet (969 m), with samples from mud log gas containing up to 3.5% helium.</li>
<li> The gross thickness with elevated helium is consistent with what was encountered at the Jetstream #1 well, which had a gross vertical thickness of 1,021 m.</li>
<li>•The actual helium concentration is expected to be higher than the measurements from the mud log gas.</li>
</ul>


 The Jetstream #2 well encountered elevated helium values over a gross vertical thickness of 3,178 feet (969 m), with samples from mud log gas containing up to 3.5% helium.
 The gross thickness with elevated helium is consistent with what was encountered at the Jetstream #1 well, which had a gross vertical thickness of 1,021 m.
•The actual helium concentration is expected to be higher than the measurements from the mud log gas.


Pulsar Helium Inc. (TSX-V: PLSR): Jetstream #2 Results Confirm ~1

<ul>
<li>The Jetstream #1 well has been deepened by 2,900 feet to 5,100 feet.</li>
<li>This is significantly more than the expected ~1,650 feet as the company encountered consistent and regular helium shows while drilling that continued beyond the original expected depth.</li>
<li>The mud log gas contained up to 7.2% helium.</li>
</ul>


The Jetstream #1 well has been deepened by 2,900 feet to 5,100 feet.
This is significantly more than the expected ~1,650 feet as the company encountered consistent and regular helium shows while drilling that continued beyond the original expected depth.
The mud log gas contained up to 7.2% helium.


Pulsar Helium Inc. (TSX-V: PLSR): Better than expected results at Jetstream #1

<ul>
<li>Pulsar is raising up to US$7.5 mm of new equity at a price of U$0.38 (£0.30 equivalent) per share which is higher than the closing price of £0.26 per share the day prior to the announcement.</li>
<li>University Bank from Michigan will also provide a line of credit of up to US$4.0 mm to Pulsar’s major shareholder ABCrescent enabling ABC to exercise its 15.5 mm share purchase warrants at an exercise price of C$0.36 per share.</li>
<li>Overall, Pulsar could receive a total of up to US$11.5 mm in new equity.</li>
</ul>


Pulsar is raising up to US$7.5 mm of new equity at a price of U$0.38 (£0.30 equivalent) per share which is higher than the closing price of £0.26 per share the day prior to the announcement.
University Bank from Michigan will also provide a line of credit of up to US$4.0 mm to Pulsar’s major shareholder ABCrescent enabling ABC to exercise its 15.5 mm share purchase warrants at an exercise price of C$0.36 per share.
Overall, Pulsar could receive a total of up to US$11.5 mm in new equity.


Pulsar Helium Inc.: Raising New Equity at a Premium. Imminent High Impact Drilling Newsflow

Canada

Pulsar Helium Inc. operates as a mining company. The Company engages in the business of the acquisition, exploration, and development of helium properties. Pulsar Helium serves customers worldwide.

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Pulsar Helium (PLSR CN)

Pulsar Helium Inc. (TSX-V: PLSR): Flow Test Results Delayed by 6-10 Weeks

The generation of drilling fines is a frequent outcome of air drilling, a widely utilized method in numerous shale plays across various U.S....

Auctus Advisors

Pulsar Helium Inc. (TSX-V: PLSR): Accessing Project Finance Rather than Equity

The facility will bear interest at 12% per annum on any drawn amounts, with a 2% utilization fee on draws, which will be reimbursable at maturity.

Auctus Advisors

Pulsar Helium Inc. (TSX-V: PLSR): Jetstream #2 Results Confirm ~1

The Jetstream #2 well encountered elevated helium values over a gross vertical thickness of 3,178 feet (969 m), with samples from mud log gas...

Auctus Advisors

Pulsar Helium Inc. (TSX-V: PLSR): Better than expected results at Jetstream #1

This is significantly more than the expected ~1,650 feet as the company encountered consistent and regular helium shows while drilling that...

Auctus Advisors

Pulsar Helium Inc.: Raising New Equity at a Premium. Imminent High Impact Drilling Newsflow

Pulsar is raising up to US$7.5 mm of new equity at a price of U$0.38 (£0.30 equivalent) per share which is higher than the closing price of £0.26...

Auctus Advisors

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52-week Range

Market Cap (USDm)

P/E

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