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>ADX Energy (HHR AU)C; Target price of AS0.07 per share: Farm-in transaction at Welchau provides validation for the prospect – Kepis &amp; Pobe Financial Group (KPFG) is acquiring 20% in the Welchau Farmin Area in return for funding 50% of the cost of the exploration well (EUR3.8 mm gross).</li><li>KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).</li><li>Block Energy (BOE LN): SLB not exercising option – SLB will not exercise its right to acquire 108 mm shares in Block Energy.</li></ul>

ADX Energy (HHR AU)C; Target price of AS0.07 per share: Farm-in transaction at Welchau provides validation for the prospect – Kepis &amp; Pobe Financial Group (KPFG) is acquiring 20% in the Welchau Farmin Area in return for funding 50% of the cost of the exploration well (EUR3.8 mm gross).KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).Block Energy (BOE LN): SLB not exercising option – SLB will not exercise its right to acquire 108 mm shares in Block Energy.

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<li>Calima Energy (CE1 AU) C; Target price of A$0.70 per share: 3Q22 production in line.</li>
<li>Solid drilling programme – 3Q22 production was 4,150 boe/d, which is in line with expectations.</li>
<li>Tethys Oil (TETY SS)C; Target price of SEK120 per share: Production update in Oman – Production in September was 9,824 bbl/d in line with last month.</li>
</ul>


Calima Energy (CE1 AU) C; Target price of A$0.70 per share: 3Q22 production in line.
Solid drilling programme – 3Q22 production was 4,150 boe/d, which is in line with expectations.
Tethys Oil (TETY SS)C; Target price of SEK120 per share: Production update in Oman – Production in September was 9,824 bbl/d in line with last month.


Australia

Woodside Energy Group Ltd operates as a petroleum exploration and production company. The Company offers crude oil, natural gas, and other petroleum products. Woodside Energy Group serves customers worldwide.

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Woodside Energy Group (WDS AU)

Auctus on Friday - 02/12/2022

KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).

Auctus Advisors

Auctus on Friday - 21/10/2022

Tethys Oil (TETY SS)C; Target price of SEK120 per share: Production update in Oman – Production in September was 9,824 bbl/d in line with last month.

Auctus Advisors

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