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>Galp’s independent auditor estimated approximately 700 mmboe of 3C contingent resources net to Galp for Namibia as of the end of November 2024, translating to ~875 mmboe gross 3C contingent resources or 43 mmboe net to Sintana</li>
<li>The resources estimate is based on AVO-1, AVO-2 and AVO-3 and does not include the impact of the results of the Mopane-2A and Mopane-3X wells.</li>
<li>Mopane-2A confirmed the lateral extent of AVO-3 and encountered a hydrocarbon column of light oil at AVO-4.</li>
</ul>


Galp’s independent auditor estimated approximately 700 mmboe of 3C contingent resources net to Galp for Namibia as of the end of November 2024, translating to ~875 mmboe gross 3C contingent resources or 43 mmboe net to Sintana
The resources estimate is based on AVO-1, AVO-2 and AVO-3 and does not include the impact of the results of the Mopane-2A and Mopane-3X wells.
Mopane-2A confirmed the lateral extent of AVO-3 and encountered a hydrocarbon column of light oil at AVO-4.


Sintana Energy Inc. (TSX-V: SEI): Galp Reports ~875 Mmboe 3C Contingent Resources at PEL 83

<ul>
<li>Woodside has elected not to exercise its option to farm into PEL 87.</li>
<li>While this decision is disappointing and likely to result in some delays until Pancontinental secures a new partner, it likely reflects Woodside’s increased focus on LNG and its recent reduction in exploration spending.</li>
<li>The company is currently advancing three capital-intensive development projects: Scarborough LNG (7.3 Tcf, ~80% complete), Trion Oil (20% complete), and the recently acquired Louisiana LNG expansion.</li>
</ul>


Woodside has elected not to exercise its option to farm into PEL 87.
While this decision is disappointing and likely to result in some delays until Pancontinental secures a new partner, it likely reflects Woodside’s increased focus on LNG and its recent reduction in exploration spending.
The company is currently advancing three capital-intensive development projects: Scarborough LNG (7.3 Tcf, ~80% complete), Trion Oil (20% complete), and the recently acquired Louisiana LNG expansion.


Sintana Energy Inc. (TSX-V: SEI): Woodside Does Not Farm-Into PEL 87...

<ul>
<li>The Mopane-3X exploration well has encountered columns of light oil and gas-condensates across the AVO-10 interval, as well as light oil columns at AVO-13 and at a deeper sand.</li>
<li>The sandstone reservoirs are of excellent quality, with high permeability and porosity, and higher-than-estimated pressure.</li>
<li>The oil has low viscosity, with minimal CO2 and H2S content.</li>
</ul>


The Mopane-3X exploration well has encountered columns of light oil and gas-condensates across the AVO-10 interval, as well as light oil columns at AVO-13 and at a deeper sand.
The sandstone reservoirs are of excellent quality, with high permeability and porosity, and higher-than-estimated pressure.
The oil has low viscosity, with minimal CO2 and H2S content.


Sintana Energy Inc. (TSX-V: SEI): New Material Discovery at Mopane

<ul>
<li>The Kapana 1-X well on PEL-90 did not encounter commercial hydrocarbons.</li>
<li>The rig is likely to be demobilized, but the well’s results have increased confidence in the block.</li>
<li>Chevron has indicated that it anticipates further exploration in Namibia.</li>
</ul>


The Kapana 1-X well on PEL-90 did not encounter commercial hydrocarbons.
The rig is likely to be demobilized, but the well’s results have increased confidence in the block.
Chevron has indicated that it anticipates further exploration in Namibia.


Sintana Energy Inc.: Kapana-1X Uncommercial but Chevron Expects to Continue Exploration Activities

<ul>
<li>QatarEnergy has acquired 27.5% WI in PEL 90 from Chevron.</li>
<li>While no details have been disclosed, it's noteworthy that QatarEnergy is a partner of TotalEnergies on the adjacent PEL 56 license, where the Venus discovery is located.</li>
<li>QatarEnergy is also a partner of Shell on PEL 39.</li>
</ul>


QatarEnergy has acquired 27.5% WI in PEL 90 from Chevron.
While no details have been disclosed, it's noteworthy that QatarEnergy is a partner of TotalEnergies on the adjacent PEL 56 license, where the Venus discovery is located.
QatarEnergy is also a partner of Shell on PEL 39.


Sintana Energy Inc. (TSX-V: SEI): Sintana Energy Inc. (TSX-V: SEI): More drilling in Namibia

Canada

Sintana Energy Inc. produces and distributes petroleum products. The Company acquires, develops, explores, and produces oil and gas. Sintana Energy serves customers in North and South America.

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Sintana Energy (SEI CN)

Sintana Energy Inc. (TSX-V: SEI): Galp Reports ~875 Mmboe 3C Contingent Resources at PEL 83

We reaffirm our target price of C$1.80/sh. The current share price has returned to levels not seen since before the initial exploration success at...

Auctus Advisors

Sintana Energy Inc. (TSX-V: SEI): Woodside Does Not Farm-Into PEL 87...

While this decision is disappointing and likely to result in some delays until Pancontinental secures a new partner, it likely reflects Woodside’s...

Auctus Advisors

Sintana Energy Inc. (TSX-V: SEI): New Material Discovery at Mopane

The Mopane-3X exploration well has encountered columns of light oil and gas-condensates across the AVO-10 interval, as well as light oil columns at...

Auctus Advisors

Sintana Energy Inc.: Kapana-1X Uncommercial but Chevron Expects to Continue Exploration Activities

The Kapana 1-X well on PEL-90 did not encounter commercial hydrocarbons. The rig is likely to be demobilized, but the well’s results have increased...

Auctus Advisors

Sintana Energy Inc. (TSX-V: SEI): Sintana Energy Inc. (TSX-V: SEI): More drilling in Namibia

QatarEnergy has acquired 27.5% WI in PEL 90 from Chevron.While no details have been disclosed, it's noteworthy that QatarEnergy is a partner of...

Auctus Advisors

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