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>Zephyr has secured a US$100 mm drilling funding agreement with a US private equity firm to enable growth in its non-operated asset portfolio in the Williston Basin.</li>
<li>The structure appears to be similar to a “DrillCo”, in which the investor will fund up to 100% of Zephyr’s drillex on a case by case basis.</li>
<li>The agreement covers drilling on future well acquisitions but also could apply to new wells proposed on the Zephyr’s existing acreage.</li>
</ul>


Zephyr has secured a US$100 mm drilling funding agreement with a US private equity firm to enable growth in its non-operated asset portfolio in the Williston Basin.
The structure appears to be similar to a “DrillCo”, in which the investor will fund up to 100% of Zephyr’s drillex on a case by case basis.
The agreement covers drilling on future well acquisitions but also could apply to new wells proposed on the Zephyr’s existing acreage.


Zephyr Energy Plc (AIM: ZPHR): Private equity funding unlocks growth in the Williston and provides external validation

<ul>
<li>The State 36-2 well achieved peak rates of 2,848 boe/d, including 856 bbl/d of oil, on a small 18/64 choke.</li>
<li>During a separate, 48-hour phase of testing on an 8/64 choke, production ranged between 700-1,066 boe/d, with 200-400 bbl/d of oil.</li>
<li>Importantly, there was no material drop in bottomhole pressure in either test, confirming that sustained production at these levels is feasible long-term.</li>
</ul>


The State 36-2 well achieved peak rates of 2,848 boe/d, including 856 bbl/d of oil, on a small 18/64 choke.
During a separate, 48-hour phase of testing on an 8/64 choke, production ranged between 700-1,066 boe/d, with 200-400 bbl/d of oil.
Importantly, there was no material drop in bottomhole pressure in either test, confirming that sustained production at these levels is feasible long-term.


Zephyr Energy Plc (AIM: ZPHR): Well test success unblocks the Paradox

<ul>
<li>FY24 sales volumes averaged 1,149 boe/d including 139 bbl/d of NGL.</li>
<li>The NGL sales were higher than we were anticipating (~100 bbl/d) but FY24 production of 1,052 boe/d was impacted by downtime experienced in the Williston Basin in 4Q24 due to extreme weather in the area.</li>
<li>4Q24 net production was 829 boe/d (plus NGL that we estimate at 90-100 bbl/d).</li>
</ul>


FY24 sales volumes averaged 1,149 boe/d including 139 bbl/d of NGL.
The NGL sales were higher than we were anticipating (~100 bbl/d) but FY24 production of 1,052 boe/d was impacted by downtime experienced in the Williston Basin in 4Q24 due to extreme weather in the area.
4Q24 net production was 829 boe/d (plus NGL that we estimate at 90-100 bbl/d).


Zephyr Energy Plc (AIM: ZPHR): Key Paradox Well Test Results Expected in April

<ul>
<li>Zephyr has now entered into binding documentation to fully-fund all expected drilling, completion and production test costs for the 5,500 ft extension and acidization of the State 36-2R well.</li>
<li>The funding has increased to US$7.5 mm (US$7.0 mm previously).</li>
<li>In return, the funding partner will earn a 50% WI in the well.</li>
</ul>


Zephyr has now entered into binding documentation to fully-fund all expected drilling, completion and production test costs for the 5,500 ft extension and acidization of the State 36-2R well.
The funding has increased to US$7.5 mm (US$7.0 mm previously).
In return, the funding partner will earn a 50% WI in the well.


Zephyr Energy Plc (AIM: ZPHR): Funding secured for the Paradox

Your Partner for Growth, Hybridan

Hybridan

Your Partner for Growth

Our passion is raising growth capital for exciting, fast growth companies that want to take their business to the next level. We raise capital for companies both listed and unlisted in the most efficient manner possible and pride ourselves as being one of the few consistently profitable broking firms in the City. This has been achieved through a highly disciplined approach when seeking to create both corporate and institutional relationships.

<ul>
<li>88 Energy Limited 1.08p £12.15m (88E.L) The Australian oil and gas Company advised that on 19 November, its wholly owned subsidiary, Captivate Energy Alaska, Inc., was declared the successful bidder for select acreage in the North Slope Areawide 2025W Oil and Gas Lease Sale.</li>
<li>The successful bids expand 88 Energy's operated acreage across two high-potential areas to the east and west of Project Leonis, consistent with the Company's infrastructure-led and data-driven exploration approach.</li>
<li>The bid included fourteen new leases secured covering approximately 34,560 acres across two focus areas—South Prudhoe and Kad River East.</li>
</ul>


88 Energy Limited 1.08p £12.15m (88E.L) The Australian oil and gas Company advised that on 19 November, its wholly owned subsidiary, Captivate Energy Alaska, Inc., was declared the successful bidder for select acreage in the North Slope Areawide 2025W Oil and Gas Lease Sale.
The successful bids expand 88 Energy's operated acreage across two high-potential areas to the east and west of Project Leonis, consistent with the Company's infrastructure-led and data-driven exploration approach.
The bid included fourteen new leases secured covering approximately 34,560 acres across two focus areas—South Prudhoe and Kad River East.


Hybridan Small Cap Feast: 20 November 2025

United Kingdom

Zephyr Energy plc operates as a technology-led exploration and production company. The Company focuses on the delivery of economic returns from developed oil and gas projects in the Rocky Mountain region of the United States.

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Zephyr Energy (ZPHR LN)

Zephyr Energy Plc (AIM: ZPHR): Private equity funding unlocks growth in the Williston and provides external validation

Zephyr has secured a US$100 mm drilling funding agreement with a US private equity firm to enable growth in its non-operated asset portfolio in the...

Auctus Advisors

Zephyr Energy Plc (AIM: ZPHR): Well test success unblocks the Paradox

Importantly, there was no material drop in bottomhole pressure in either test, confirming that sustained production at these levels is feasible...

Auctus Advisors

Zephyr Energy Plc (AIM: ZPHR): Key Paradox Well Test Results Expected in April

The NGL sales were higher than we were anticipating (~100 bbl/d) but FY24 production of 1,052 boe/d was impacted by downtime experienced in the...

Auctus Advisors

Zephyr Energy Plc (AIM: ZPHR): Funding secured for the Paradox

Zephyr has now entered into binding documentation to fully-fund all expected drilling, completion and production test costs for the 5,500 ft...

Auctus Advisors

Hybridan Small Cap Feast: 20 November 2025

The bid included fourteen new leases secured covering approximately 34,560 acres across two focus areas—South Prudhoe and Kad River East.

Hybridan

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