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>YE23 1P and 2P reserves are estimated at 29.9 mmbbl and 37.9 mmbbl respectively. This represents a reserve replacement ratio of 219%.</li>
<li>The reserves addition is much greater than we expected.</li>
<li>Valeura has booked 7 mmbbl at Wassana (we expected only 5 mmbbl) and has replaced 112-147% of the 2023 production at each of the other fields. </li>
</ul>


YE23 1P and 2P reserves are estimated at 29.9 mmbbl and 37.9 mmbbl respectively. This represents a reserve replacement ratio of 219%.
The reserves addition is much greater than we expected.
Valeura has booked 7 mmbbl at Wassana (we expected only 5 mmbbl) and has replaced 112-147% of the 2023 production at each of the other fields. 


Valeura Energy (TSX: VLE): 219% reserve replacement ratio in 2023

APAC IPOs & Placements, Aequitas Research

Ethan Aw

APAC IPOs & Placements

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Equity Capital Markets

Amman Mineral Internasional / Equity Capital Markets

<ul>
<li>
<a href="https://www.smartkarma.com/entities/amman-mineral-internasional-pt" target="_blank" data-smartkarma-citation="entities:39838:1" rel="noopener">Amman Mineral Internasional (AMMN IJ)</a> raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup will expire on 21st Feb 2024.</li>
<li>Amman Mineral International (AMI) carries out exploration, development, mining, and processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.</li>
<li>In this note, we will talk about the lock-up dynamics and updates since our last note.</li>
</ul>



Amman Mineral Internasional (AMMN IJ) raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup will expire on 21st Feb 2024.
Amman Mineral International (AMI) carries out exploration, development, mining, and processing. The company operates an open pit copper and gold mine known as the Batu Hijau mine in Indonesia.
In this note, we will talk about the lock-up dynamics and updates since our last note.


Amman Mineral International Lockup Expiry - Large Lockup Expiry, Sitting on Sizeable Profits

<ul>
<li>The first two wells of the Wassana drilling programme have exceeded the company’s expectations with production from the field now over 4,000 bbl/d.</li>
<li>With a third well expected to boost production further in the next few days, production from the field could be higher than the target of 4.5 mbbl/d.</li>
<li>The company has decided to extend the current drilling programme at Wassana by adding two wells (from 3 to 5).</li>
</ul>


The first two wells of the Wassana drilling programme have exceeded the company’s expectations with production from the field now over 4,000 bbl/d.
With a third well expected to boost production further in the next few days, production from the field could be higher than the target of 4.5 mbbl/d.
The company has decided to extend the current drilling programme at Wassana by adding two wells (from 3 to 5).


Valeura Energy (TSX: VLE): Wassana: Strong Performance and Accelerated Drilling Programme.

<ul>
<li>4Q23 production was 19,165 bbl/d (we expected ~21,300 boe/d) with minimal production at Wassana and declining production at Jasmine only partially offset by growing production at Nong Yao.</li>
<li>The capex programme includes US$50 mm for Jasmine and US$47 mm for the new Nong Yao C development.</li>
<li>YE23 net cash and YE24 net cash forecast Valeura held ~US$150.9 mm in net cash at YE23.</li>
</ul>


4Q23 production was 19,165 bbl/d (we expected ~21,300 boe/d) with minimal production at Wassana and declining production at Jasmine only partially offset by growing production at Nong Yao.
The capex programme includes US$50 mm for Jasmine and US$47 mm for the new Nong Yao C development.
YE23 net cash and YE24 net cash forecast Valeura held ~US$150.9 mm in net cash at YE23.


Valeura Energy Inc (Tsx: Vle/Otcqx: Vlerf)

<ul>
<li>Valeura has drilled three development wells and one appraisal well at Nong Yao A.</li>
<li>The three development wells were in line with expectations and are now in production.</li>
<li>The appraisal well has exceeded expectations confirming 50 feet of new net oil pay over several intervals that were not producing. </li>
</ul>


Valeura has drilled three development wells and one appraisal well at Nong Yao A.
The three development wells were in line with expectations and are now in production.
The appraisal well has exceeded expectations confirming 50 feet of new net oil pay over several intervals that were not producing. 


Valeura Energy (TSX: VLE): Positive drilling update

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.

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

Valeura Energy Inc (VLE CN)

Valeura Energy (TSX: VLE): 219% reserve replacement ratio in 2023

YE23 1P and 2P reserves are estimated at 29.9 mmbbl and 37.9 mmbbl respectively. This represents a reserve replacement ratio of 219%.

Auctus Advisors

Amman Mineral International Lockup Expiry - Large Lockup Expiry, Sitting on Sizeable Profits

Amman Mineral Internasional (AMMN IJ) raised around US$714m in its Indonesia IPO, after pricing the deal at IDR1,695/share. Its eight-month lockup...

Ethan Aw

Valeura Energy (TSX: VLE): Wassana: Strong Performance and Accelerated Drilling Programme.

The first two wells of the Wassana drilling programme have exceeded the company’s expectations with production from the field now over 4,000 bbl/d.

Auctus Advisors

Valeura Energy Inc (Tsx: Vle/Otcqx: Vlerf)

4Q23 production was 19,165 bbl/d (we expected ~21,300 boe/d) with minimal production at Wassana and declining production at Jasmine only partially...

Auctus Advisors

Valeura Energy (TSX: VLE): Positive drilling update

Valeura has drilled three development wells and one appraisal well at Nong Yao A. The three development wells were in line with expectations and...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)