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 has received multiple non-binding offers from reputable parties for a stake in PEL 83, home to the Mopane discovery.</li>
<li>The company is actively engaging with several counterparties, aiming to announce a farm-in partner by YE25.</li>
<li>These counterparties bring strong operatorship credentials and have prioritized Namibia within their corporate strategies.</li>
</ul>


Galp has received multiple non-binding offers from reputable parties for a stake in PEL 83, home to the Mopane discovery.
The company is actively engaging with several counterparties, aiming to announce a farm-in partner by YE25.
These counterparties bring strong operatorship credentials and have prioritized Namibia within their corporate strategies.


Sintana Energy Inc. (TSX-V: SEI): Multiple offers received by Galp for Mopane

<ul>
<li>Sintana has agreed terms to acquire a 5% net interest in KON-16 onshore Angola from Corcel for US$2.5 mm.</li>
<li>In addition, Sintana will receive a 2.5% net profit interest on 71.5% of KON-16 until reaching US$50 mm, after which the net profit interest reduces to 1.5%.</li>
<li>There are multiple post-salt (shallow) and pre-salt (deeper) prospects that were highlighted by 2010 2D seismic.</li>
</ul>


Sintana has agreed terms to acquire a 5% net interest in KON-16 onshore Angola from Corcel for US$2.5 mm.
In addition, Sintana will receive a 2.5% net profit interest on 71.5% of KON-16 until reaching US$50 mm, after which the net profit interest reduces to 1.5%.
There are multiple post-salt (shallow) and pre-salt (deeper) prospects that were highlighted by 2010 2D seismic.


Sintana Energy Inc. (TSX-V: SEI): Adding High Impact Exploration Onshore Angola

<ul>
<li>The Capricornus 1-X exploration well on PEL 85 (bp/Eni/Rhino) found 38 m of net pay, with the reservoir showing good petrophysical properties and no observed water contact.</li>
<li>The well achieved a surface-constrained flow rate in excess of 11,000 bbl/d.</li>
<li>The light 37° API oil exhibited limited associated gas with less than 2% CO2 and no hydrogen sulphide.</li>
</ul>


The Capricornus 1-X exploration well on PEL 85 (bp/Eni/Rhino) found 38 m of net pay, with the reservoir showing good petrophysical properties and no observed water contact.
The well achieved a surface-constrained flow rate in excess of 11,000 bbl/d.
The light 37° API oil exhibited limited associated gas with less than 2% CO2 and no hydrogen sulphide.


Sintana Energy Inc. (TSX-V: SEI): Oil Discovery Adjacent to Two Sintana’s Blocks

<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...

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): Multiple offers received by Galp for Mopane

Galp has received multiple non-binding offers from reputable parties for a stake in PEL 83, home to the Mopane discovery. The company is actively...

Auctus Advisors

Sintana Energy Inc. (TSX-V: SEI): Adding High Impact Exploration Onshore Angola

In addition, Sintana will receive a 2.5% net profit interest on 71.5% of KON-16 until reaching US$50 mm, after which the net profit interest...

Auctus Advisors

Sintana Energy Inc. (TSX-V: SEI): Oil Discovery Adjacent to Two Sintana’s Blocks

The Capricornus 1-X exploration well on PEL 85 (bp/Eni/Rhino) found 38 m of net pay, with the reservoir showing good petrophysical properties and...

Auctus Advisors

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

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