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 ________________________________________ ADX Energy (ADX)C; Target price of A$0.16 per share: 2Q26 update – 2Q26 WI production in Austria was 197 boe/d.</li><li>Current production is 270 boe/d.</li><li> Arrow Exploration (AXL LN/CN)C; Target price of £0.55 per share: Reserves addition in Gacheta reservoir at Icaco.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX)C; Target price of A$0.16 per share: 2Q26 update – 2Q26 WI production in Austria was 197 boe/d.Current production is 270 boe/d. Arrow Exploration (AXL LN/CN)C; Target price of £0.55 per share: Reserves addition in Gacheta reservoir at Icaco.

Equity Bottom-Up

<ul>
<li>TransAtantic Petroleum is acquiring 50% WI in the West Thrace Production and Exploration Licences, currently held 63% by Valeura and 37% by Pinnacle.</li>
<li>In exchange, TransAtlantic will fund the re-entry of the Devepinar-1 well—including hydraulic stimulation and testing of the Kesan zones (4.7–4.8 km depth)—for up to US$2 mm.</li>
<li>Operations could commence in 4Q25.</li>
</ul>


TransAtantic Petroleum is acquiring 50% WI in the West Thrace Production and Exploration Licences, currently held 63% by Valeura and 37% by Pinnacle.
In exchange, TransAtlantic will fund the re-entry of the Devepinar-1 well—including hydraulic stimulation and testing of the Kesan zones (4.7–4.8 km depth)—for up to US$2 mm.
Operations could commence in 4Q25.


Valeura Energy (TSX: VLE): Quality partner to revive Turkiye

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Equity raise to fund Production growth and exploration upside in Austria – ADX has raised A$3.58 mm in new equity at A$0.020 per share.</li><li> Investors also received one option per new share, exercisable at A$0.030 per share.</li><li>Proceeds will fund the extended testing programme at the HOCH‑1 shallow gas discovery, ongoing shallow gas drilling at GOLD-1, Sicily Channel prospect maturation and working capital.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Equity raise to fund Production growth and exploration upside in Austria – ADX has raised A$3.58 mm in new equity at A$0.020 per share. Investors also received one option per new share, exercisable at A$0.030 per share.Proceeds will fund the extended testing programme at the HOCH‑1 shallow gas discovery, ongoing shallow gas drilling at GOLD-1, Sicily Channel prospect maturation and working capital.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: Independent resources auditor confirms resources estimates in Italy – RISC has independently validated ADX’s prospective resource estimates in Italy, confirming a range of 188–1,265 bcf (P90–P10) and a P50–Pmean case of 484–619 bcf.</li><li>After reviewing ADX’s data and methodology, RISC considers the prospective resource estimates to be a reasonable probabilistic representation of reservoir properties.</li><li>The lead/prospect areas and reservoir thickness assumptions used by ADX to calculate gas volumes are also deemed appropriate.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: Independent resources auditor confirms resources estimates in Italy – RISC has independently validated ADX’s prospective resource estimates in Italy, confirming a range of 188–1,265 bcf (P90–P10) and a P50–Pmean case of 484–619 bcf.After reviewing ADX’s data and methodology, RISC considers the prospective resource estimates to be a reasonable probabilistic representation of reservoir properties.The lead/prospect areas and reservoir thickness assumptions used by ADX to calculate gas volumes are also deemed appropriate.

<ul><li>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: High flow rate at first zone at HOCH –The testing is planned to be undertaken in two phases.</li><li>The first phase focusses on the upper Hall formation and the second phase on the lower Base Hall formation.</li><li>The first phase will include the firm testing of up to three zones and potentially a fourth contingent zone.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: High flow rate at first zone at HOCH –The testing is planned to be undertaken in two phases.The first phase focusses on the upper Hall formation and the second phase on the lower Base Hall formation.The first phase will include the firm testing of up to three zones and potentially a fourth contingent zone.

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)

AUCTUS ON FRIDAY - 07.08.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX)C; Target price of A$0.16 per share: 2Q26 update – 2Q26 WI production...

Auctus Advisors

Valeura Energy (TSX: VLE): Quality partner to revive Turkiye

TransAtantic Petroleum is acquiring 50% WI in the West Thrace Production and Exploration Licences, currently held 63% by Valeura and 37% by Pinnacle.

Auctus Advisors

AUCTUS ON FRIDAY - 24.07.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.16 per share: Equity raise to fund...

Auctus Advisors

AUCTUS ON FRIDAY - 10.07.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: Independent resources auditor...

Auctus Advisors

AUCTUS ON FRIDAY - 19.06.2026

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of A$0.18 per share: High flow rate at first zone...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)