Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

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 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>• 2Q26 pro forma WI production averaged 15,529 bbl/d, comprising 9,456 bbl/d in Equatorial Guinea, 4,599 bbl/d in Gabon, and 1,474 bbl/d in Tunisia.</li><li>• Current WI production is ~17.5 mbbl/d, around 2 mbbl/d above our prior assumptions for 3Q26, driven by stronger‑than‑expected performance in Equatorial Guinea.</li><li>Gross Equatorial Guinea production has increased from ~17.3 mbbl/d in 2Q26 to ~22 mbbl/d currently (Panoro WI: 54.625%), reflecting improved production efficiency at Ceiba and successful well clean‑ups and interventions at Okume.</li></ul>

• 2Q26 pro forma WI production averaged 15,529 bbl/d, comprising 9,456 bbl/d in Equatorial Guinea, 4,599 bbl/d in Gabon, and 1,474 bbl/d in Tunisia.• Current WI production is ~17.5 mbbl/d, around 2 mbbl/d above our prior assumptions for 3Q26, driven by stronger‑than‑expected performance in Equatorial Guinea.Gross Equatorial Guinea production has increased from ~17.3 mbbl/d in 2Q26 to ~22 mbbl/d currently (Panoro WI: 54.625%), reflecting improved production efficiency at Ceiba and successful well clean‑ups and interventions at Okume.

Panoro Energy ASA (OSE: PEN): High production in Equatorial Guinea