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>AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.10 per share: Significant power transaction highlights the value of the S.</li><li>Africa electricity trading business – Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital.</li><li>In exchange, Standard Bank and Norfund will hold 10% and 20% of the project’s economics, respectively, via preferred equity.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.10 per share: Significant power transaction highlights the value of the S.Africa electricity trading business – Etana Energy, the South African electricity trading business (49% held by Chariot) has arranged a US$55 mm guarantee finance facility through Standard Bank and secured an equity investment of up to US$20 mm from Norfund for working capital.In exchange, Standard Bank and Norfund will hold 10% and 20% of the project’s economics, respectively, via preferred equity.

<ul><li>GeoPark (GPRK US)C; Target price of US$17 per share: Four new exploration wells at Confluencia Sur – The FY24 production had been reported previously.</li><li>Gross production in Argentina is approximately 15,000 boe/d and is expected to increase to around 16,000-17,000 boe/d by the end of 2025.</li><li>The acquisition of the Argentinian assets is anticipated to be completed in late 1Q25 or early 2Q25 pending the regulatory approval of the Neuquen province.</li></ul>

GeoPark (GPRK US)C; Target price of US$17 per share: Four new exploration wells at Confluencia Sur – The FY24 production had been reported previously.Gross production in Argentina is approximately 15,000 boe/d and is expected to increase to around 16,000-17,000 boe/d by the end of 2025.The acquisition of the Argentinian assets is anticipated to be completed in late 1Q25 or early 2Q25 pending the regulatory approval of the Neuquen province.

<ul>
<li>Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells - Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field.</li>
<li>The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came in structurally lower than anticipated, resulting in sub-economic oil rates from the Carbonera sandstones.</li>
<li>Additional zones can be completed at a later stage.</li>
</ul>


Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with horizontal wells - Following the discovery well, Arrow has drilled two new vertical wells at Alberta Llanos, effectively delineating the field.
The AB-2 well at the far northern limit of the field encountered multiple hydrocarbon-bearing intervals with good reservoir characteristics but came in structurally lower than anticipated, resulting in sub-economic oil rates from the Carbonera sandstones.
Additional zones can be completed at a later stage.


<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>ADX Energy (ADX AU)C; Target price of A$0.30 per share: Reflections on Welchau - Three intervals in the Reifling formation (1324 m-1340 m, 1346 m-1351 m and 1358 m-1382 m MD) were perforated but only limited inflow was determined.</li>
<li>No fluid could reach the surface after the well was shut in.</li>
<li>Sampling of the well indicated only completion brine (not reservoir fluid) and fine solid particles of unknown origin.</li>
</ul>


ADX Energy (ADX AU)C; Target price of A$0.30 per share: Reflections on Welchau - Three intervals in the Reifling formation (1324 m-1340 m, 1346 m-1351 m and 1358 m-1382 m MD) were perforated but only limited inflow was determined.
No fluid could reach the surface after the well was shut in.
Sampling of the well indicated only completion brine (not reservoir fluid) and fine solid particles of unknown origin.


United States

VAALCO Energy, Inc. acquires, explores, and develops crude oil and natural gas properties. The Company owns producing properties and conducts exploration activities in the Philippines and Gabon, and has interest in the Texas Gulf Coast area. VAALCO, through participation in a partnership, has additional international exploration interests in South and North America and Africa.

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VAALCO Energy (EGY US)

AUCTUS ON FRIDAY - 21/03/2025

AUCTUS PUBLICATIONS ________________________________________ Chariot (CHAR LN)C; Target price of £0.10 per share: Significant power transaction...

Auctus Advisors

AUCTUS ON FRIDAY - 07/03/2025

GeoPark (GPRK US)C; Target price of US$17 per share: Four new exploration wells at Confluencia Sur – The FY24 production had been reported...

Auctus Advisors

AUCTUS ON FRIDAY - 02/07/2025

Arrow Exploration (AXL LN/CN)C; Target price of £0.80 per share: Appraisal drilling results at Alberta Llanos unlock full field development with...

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 - 13/12/2024

Reflections on Welchau - Three intervals in the Reifling formation (1324 m-1340 m, 1346 m-1351 m and 1358 m-1382 m MD) were perforated but only...

Auctus Advisors

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