Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

Equity Bottom-Up

<ul>
<li>12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.</li>
<li>Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.</li>
<li>9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.</li>
</ul>


12th May: Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to the price of cobalt, announced its intention to raise approximately US$230m through its Global Offer and the possible Admission on to the Main Market in June 2025.
Glencore International AG and certain entities and affiliates managed by Anchorage Structured Commodities Advisor, have agreed to participate as cornerstone investors, agreeing to invest, in aggregate, an amount representing approximately 20.5% of the Shares to be offered pursuant to the Global Offer.
9th May: iFOREX Financial Trading, the fintech business with a proprietary online and mobile trading platform for multi-asset contracts for difference, announces that it is considering an IPO onto the Main Market.


Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

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>Chariot (CHAR LN)C: Recovering 75% WI of licences in Morocco – Energean has returned its Moroccan offshore interests to Chariot.</li>
<li>As a result, Chariot now holds 75% in the Lixus Offshore and Rissana Offshore licences.</li>
<li>Condor Energies (CDR CN)C; Target price of C$5.90 per share: Acquiring a LNG facility for Kazakhstan to deliver first LNG sale in 2Q26 – 1Q25 production in Uzbekistan was 11,179 boe/d (+6% vs. production in 4Q24).</li>
</ul>


Chariot (CHAR LN)C: Recovering 75% WI of licences in Morocco – Energean has returned its Moroccan offshore interests to Chariot.
As a result, Chariot now holds 75% in the Lixus Offshore and Rissana Offshore licences.
Condor Energies (CDR CN)C; Target price of C$5.90 per share: Acquiring a LNG facility for Kazakhstan to deliver first LNG sale in 2Q26 – 1Q25 production in Uzbekistan was 11,179 boe/d (+6% vs. production in 4Q24).


<ul><li>AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels.</li><li>The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir.</li><li>The well is in the process of cleaning up, with the water cut gradually decreasing.</li></ul>

AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is currently exceeding 4.5 mboe/d, consistent with January levels.The CN HZ10 well, located in the northern area of the CN field, commenced production on 31 March, delivering 1,183 bbl/d of oil (591 bbl/d net to Arrow) with a 21% water cut from the Ubaque reservoir.The well is in the process of cleaning up, with the water cut gradually decreasing.

<ul>
<li>3Q24 production of 2,336 boe/d was in line with our expectations.</li>
<li>Southern has monetized excess inventory for US$2 mm during 3Q24, resulting in net debt being reduced by US$1.4 mm.</li>
<li>Southern estimates that further excess inventory could be sold for US$1-1.5 mm.</li>
</ul>


3Q24 production of 2,336 boe/d was in line with our expectations.
Southern has monetized excess inventory for US$2 mm during 3Q24, resulting in net debt being reduced by US$1.4 mm.
Southern estimates that further excess inventory could be sold for US$1-1.5 mm.


Southern Energy Corp. (SOUC LN/SOU CN): Better Balance Sheet than Expected.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation.</li><li>Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.</li><li>Gas was initially observed at surface.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation.Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.Gas was initially observed at surface.

Canada

Southern Energy Corp. operates as an oil and natural gas exploration and production company. The Company focuses on developing conventional and unconventional light oil and liquids rich natural gas resources. Southern Energy serves customers in Canada and the United States.

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Southern Energy Corp (SOUC LN)

Vertu Motors Plc - Hybridan Small Cap Feast: 14/05/2025

Cobalt Holdings, a Company created primarily to purchase and hold physical cobalt, offering public equity investors pure-play direct exposure to...

Hybridan

AUCTUS ON FRIDAY - 16/05/2025

Chariot (CHAR LN)C: Recovering 75% WI of licences in Morocco – Energean has returned its Moroccan offshore interests to Chariot.

Auctus Advisors

AUCTUS ON FRIDAY - 11/04/2025

AUCTUS PUBLICATIONS Arrow Exploration (AXL LN/ CN)C; Target price of £0.70 per share: Stable production, 10% cash increase – Net production is...

Auctus Advisors