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: Very high flow rate at bypassed zone boosts production and unlocks reserves - A potential bypassed 60 m gas pay section, identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data, was put in production over a 23 m perforated interval at a rate of 1,100 boe/d, increasing to 1,300 boe/d over the past five days as the completion fluid has been recovered.</li>
<li>The flow rate is above expectations and unlocks reserves.</li>
<li>This result showcases the potential upside at Condor’s Uzbekistan assets.</li>
</ul>


Condor Energies (CDR CN)C; Target price of C$5.60 per share: Very high flow rate at bypassed zone boosts production and unlocks reserves - A potential bypassed 60 m gas pay section, identified using advanced cased-hole logging tools and reprocessed existing 3-D seismic data, was put in production over a 23 m perforated interval at a rate of 1,100 boe/d, increasing to 1,300 boe/d over the past five days as the completion fluid has been recovered.
The flow rate is above expectations and unlocks reserves.
This result showcases the potential upside at Condor’s Uzbekistan assets.


<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Historic permit award in Italy opens a new growth area - ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2.</li><li>ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year.</li><li>ADX will become a licensed operator in Italy as well as Austria and Romania.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.30 per share: Historic permit award in Italy opens a new growth area - ADX has been offered and accepted the “d 363 C.R-.AX” permit in the Sicily Channel, offshore Italy, covering a maximum area of 346 km2.ADX applied for the permit in 2018, but the moratorium on awarding new exploration blocks in Italy was only lifted last year.ADX will become a licensed operator in Italy as well as Austria and Romania.

<ul>
<li>Chariot (CHAR LN)C; Target price of £0.08 per share: US$100 mm guarantees highlight the value of the South Africa energy trading business - British International Investment (BII) and GuarantCo have announced a US$100 mm guarantee finance facility for Etana Energy, the South African electricity trading platform which is owned and was co-founded by Chariot (49%) and H1 Holdings (51%).</li>
<li>Etana is one of the few companies holding an electricity trading licence in South Africa that can buy and sell electricity through the grid.</li>
<li>Etana is therefore a required counterparty to power producers.</li>
</ul>


Chariot (CHAR LN)C; Target price of £0.08 per share: US$100 mm guarantees highlight the value of the South Africa energy trading business - British International Investment (BII) and GuarantCo have announced a US$100 mm guarantee finance facility for Etana Energy, the South African electricity trading platform which is owned and was co-founded by Chariot (49%) and H1 Holdings (51%).
Etana is one of the few companies holding an electricity trading licence in South Africa that can buy and sell electricity through the grid.
Etana is therefore a required counterparty to power producers.


Equity Bottom-Up

<ul>
<li>Production from January to the end of November 2024 was 5,760 boe/d. This is line with our expectations. </li>
<li>FY24 production is expected to be around the same level. This is in line with our forecasts and within the FY24 production guidance range of 5.2-6.5 mboe/d. </li>
<li>The new wells at TGT are also performing in line with expectations and production in Vietnam from January to the end of November was 4,324 boe/d. This is in line with our forecasts.</li>
</ul>


Production from January to the end of November 2024 was 5,760 boe/d. This is line with our expectations. 
FY24 production is expected to be around the same level. This is in line with our forecasts and within the FY24 production guidance range of 5.2-6.5 mboe/d. 
The new wells at TGT are also performing in line with expectations and production in Vietnam from January to the end of November was 4,324 boe/d. This is in line with our forecasts.


Pharos Energy Plc (LSE: PHAR): Delivering on Expectations. Continued Payments from EGPC

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX CN)C; Target price A$0.75 per share: Production boost at Anshof in October – The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.</li><li>The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).</li><li>The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX CN)C; Target price A$0.75 per share: Production boost at Anshof in October – The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.

United Kingdom

Pharos Energy PLC is an independent oil and gas exploration and production company. The Company focuses on growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange. Pharos Energy has production, development, and exploration interests in Egypt, Israel, and Vietnam.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Pharos Energy (PHAR LN)

AUCTUS ON FRIDAY - 21/02/2025

Condor Energies (CDR CN)C; Target price of C$5.60 per share: Very high flow rate at bypassed zone boosts production and unlocks reserves

Auctus Advisors

AUCTUS ON FRIDAY - 24/01/2025

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

Auctus Advisors

AUCTUS ON FRIDAY - 06/12/2024

Chariot (CHAR LN)C; Target price of £0.08 per share: US$100 mm guarantees highlight the value of the South Africa energy trading business -...

Auctus Advisors

Pharos Energy Plc (LSE: PHAR): Delivering on Expectations. Continued Payments from EGPC

Production from January to the end of November 2024 was 5,760 boe/d. This is line with our expectations. FY24 production is expected to be around...

Auctus Advisors

AUCTUS ON FRIDAY - 20/09/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX CN)C; Target price A$0.75 per share: Production boost at Anshof in...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)