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>1H24 production of 5,851 boe/d had been reported previously.</li>
<li>Pharos has re-iterated its FY24 production guidance of 5.2-6.5 mboe/d.</li>
<li>The company expects to spend US$26 mm (net) capex in 2024 (US$27 mm previously).</li>
</ul>


1H24 production of 5,851 boe/d had been reported previously.
Pharos has re-iterated its FY24 production guidance of 5.2-6.5 mboe/d.
The company expects to spend US$26 mm (net) capex in 2024 (US$27 mm previously).


Pharos Energy Plc (LSE: PHAR): Very Strong Financials.

Thematic (Sector/Industry)

<ul>
<li>Condor Energies (CDR CN)C: Signing first LNG framework agreement in Kazakhstan – Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives.</li>
<li>The agreement was also signed by Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan and Wabtec Corporation, a U.S. based locomotive manufacturer with existing facilities in Kazakhstan.</li>
<li>KTZ and Wabtec previously signed a memorandum of understanding which includes modernization work to retrofit KTZ’s mainline locomotive fleet for LNG usage and incorporate LNG into new build locomotives.</li>
</ul>


Condor Energies (CDR CN)C: Signing first LNG framework agreement in Kazakhstan – Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives.
The agreement was also signed by Kazakhstan Temir Zholy (KTZ), the national railway operator of Kazakhstan and Wabtec Corporation, a U.S. based locomotive manufacturer with existing facilities in Kazakhstan.
KTZ and Wabtec previously signed a memorandum of understanding which includes modernization work to retrofit KTZ’s mainline locomotive fleet for LNG usage and incorporate LNG into new build locomotives.


<ul>
<li>Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24 production of 2,730 boe/d was close to our expectations.</li>
<li>Arrow’s cash position of US$11.6 mm was also in line.</li>
<li>The first water disposal well at RCE is being brought into production and the conversion of the CN-4 well is currently waiting regulatory approval.</li>
</ul>


Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24 production of 2,730 boe/d was close to our expectations.
Arrow’s cash position of US$11.6 mm was also in line.
The first water disposal well at RCE is being brought into production and the conversion of the CN-4 well is currently waiting regulatory approval.


<ul>
<li>Production from January to the end of April was 5,755 boe/d including 4,347 boe/d in Vietnam and 1,408 bbl/d in Egypt.</li>
<li>This is in line with the company FY24 guidance of 5.2-6.5 mboe/d including 3.9-5.0 mbpoe/d in Vietnam and 1.3-1.5 mbbl/d in Egypt.</li>
<li>The FY24 capex guidance is unchanged. The key near term news flow remains the farm-out of an interest in Blocks 125 &amp; 126 in Vietnam. Several interested farm-in parties are awaiting confirmation of timing of a rig slot and clarity on the well cost.</li>
</ul>


Production from January to the end of April was 5,755 boe/d including 4,347 boe/d in Vietnam and 1,408 bbl/d in Egypt.
This is in line with the company FY24 guidance of 5.2-6.5 mboe/d including 3.9-5.0 mbpoe/d in Vietnam and 1.3-1.5 mbbl/d in Egypt.
The FY24 capex guidance is unchanged. The key near term news flow remains the farm-out of an interest in Blocks 125 &amp; 126 in Vietnam. Several interested farm-in parties are awaiting confirmation of timing of a rig slot and clarity on the well cost.


Pharos Energy Plc (LSE: PHAR): Net cash up by ~US$21.5 mm in four months

<ul>
<li>ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.</li>
<li>This represents 356 m of gross interval across three interpreted lithological sequences.</li>
<li>This compares with only 115 m of liquids-rich gas shows announced previously.</li>
</ul>


ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.
This represents 356 m of gross interval across three interpreted lithological sequences.
This compares with only 115 m of liquids-rich gas shows announced previously.


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.

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Pharos Energy (PHAR LN)

Pharos Energy Plc (LSE: PHAR): Very Strong Financials.

1H24 production of 5,851 boe/d had been reported previously.Pharos has re-iterated its FY24 production guidance of 5.2-6.5 mboe/d.

Auctus Advisors

AUCTUS ON FRIDAY - 19/07/2024

Condor has signed a first LNG Framework Agreement for the utilization of LNG to fuel Kazakhstan’s rail locomotives.

Auctus Advisors

AUCTUS ON FRIDAY - 31/05/2024

Arrow Exploration (AXL LN/AXL CN)C; target price of £0.65 per share: All eyes on the first horizontal well at Carrizales Norte – The 1Q24...

Auctus Advisors

Pharos Energy Plc (LSE: PHAR): Net cash up by ~US$21.5 mm in four months

Production from January to the end of April was 5,755 boe/d including 4,347 boe/d in Vietnam and 1,408 bbl/d in Egypt.

Auctus Advisors

AUCTUS ON FRIDAY - 28/03/2024

This represents 356 m of gross interval across three interpreted lithological sequences. This compares with only 115 m of liquids-rich gas shows...

Auctus Advisors

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