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>Production at Wassana has been suspended following the discovery of a crack within one of the MOPU’s steel jack-up legs that could pose a risk to the structural integrity of the MOPU.</li>
<li>The company is conducting further inspections and analysis to plan next steps.</li>
<li>Further visibility is expected in the coming weeks.</li>
</ul>


Production at Wassana has been suspended following the discovery of a crack within one of the MOPU’s steel jack-up legs that could pose a risk to the structural integrity of the MOPU.
The company is conducting further inspections and analysis to plan next steps.
Further visibility is expected in the coming weeks.


Valeura Energy (TSX: VLE): Operational Blip Offers an Opportunity for Investors

Thematic (Sector/Industry)

<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>Two wells recently drilled at Nong Yao are likely to add some reserves.</li>
<li>The 37H development well has been put on production from the primary reservoir at an initial flow rate of ~500 bbl/d net to Valeura’s WI.</li>
<li>The well has also encountered 68 feet of net oil pay across eight separate appraisal target intervals.</li>
</ul>


Two wells recently drilled at Nong Yao are likely to add some reserves.
The 37H development well has been put on production from the primary reservoir at an initial flow rate of ~500 bbl/d net to Valeura’s WI.
The well has also encountered 68 feet of net oil pay across eight separate appraisal target intervals.


Valeura Energy (TSX: VLE): Drilling success likely to add further resources

<ul>
<li>GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d.</li>
<li>The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement.</li>
<li>As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 mm for a total of US$500 mm, in prepaid future oil sales over the period of the offtake contract.</li>
</ul>


GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d.
The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement.
As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 mm for a total of US$500 mm, in prepaid future oil sales over the period of the offtake contract.


<ul><li>• The 1Q24 production of 21.9 mbbl/d and cash position of ~US$194 mm at the end of March had been reported previously.</li><li>• Operations are on track.</li><li>Drilling is underway at the Nong Yao A platform, with two new wells that are expected to be completed in the coming week.</li></ul>

• The 1Q24 production of 21.9 mbbl/d and cash position of ~US$194 mm at the end of March had been reported previously.• Operations are on track.Drilling is underway at the Nong Yao A platform, with two new wells that are expected to be completed in the coming week.

Valeura Energy (TSX: VLE): Financials in line. Operations on track.

Canada

Valeura Energy Inc. operates as an exploration company. The Company engages in the development and production of petroleum and natural gas. Valeura Energy focuses on growing its resource base and production in the Thrace Basin in Northwest Turkey.

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Valeura Energy Inc (VLE CN)

Valeura Energy (TSX: VLE): Operational Blip Offers an Opportunity for Investors

Production at Wassana has been suspended following the discovery of a crack within one of the MOPU’s steel jack-up legs that could pose a risk to...

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

Valeura Energy (TSX: VLE): Drilling success likely to add further resources

The 37H development well has been put on production from the primary reservoir at an initial flow rate of ~500 bbl/d net to Valeura’s WI.

Auctus Advisors

AUCTUS ON FRIDAY - 10/05/2024

GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with...

Auctus Advisors

Valeura Energy (TSX: VLE): Financials in line. Operations on track.

• The 1Q24 production of 21.9 mbbl/d and cash position of ~US$194 mm at the end of March had been reported previously. • Operations are on...

Auctus Advisors

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