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>All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.</li>
<li>A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.</li>
<li>There are multiple zones to test.</li>
</ul>


All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.
A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.
There are multiple zones to test.


ADX Energy (ASX: ADX): Approvals to Start Well Testing at Welchau Received.

<ul>
<li>MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November.</li>
<li>The initial well test results could also be available during November.</li>
<li>The full well test operations will last much longer given that there are multiple zones to test.</li>
</ul>


MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November.
The initial well test results could also be available during November.
The full well test operations will last much longer given that there are multiple zones to test.


ADX Energy (ASX: ADX): Welchau Test to Start on 4th of November

<ul>
<li>Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and other well data.</li>
<li>While this means that the energy equivalent hydrocarbon volumes may be smaller than the original pre-drill estimates, onshore oil can be more valuable than gas to a small company due to the ability to produce and progressively develop a field without having to first prove up sufficient reserves to underwrite a pipeline and secure a gas contract.</li>
<li>Welchau is estimated to hold 90-95% oil and the production from Welchau-1 could be trucked to a point of sale or to ADX’s existing 3,000 bbl/d Anshof facility for processing when stable flows can be established.</li>
</ul>


Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and other well data.
While this means that the energy equivalent hydrocarbon volumes may be smaller than the original pre-drill estimates, onshore oil can be more valuable than gas to a small company due to the ability to produce and progressively develop a field without having to first prove up sufficient reserves to underwrite a pipeline and secure a gas contract.
Welchau is estimated to hold 90-95% oil and the production from Welchau-1 could be trucked to a point of sale or to ADX’s existing 3,000 bbl/d Anshof facility for processing when stable flows can be established.


ADX Energy (ASX: ADX): Welchau Is About Oil Rather than Gas: Perhaps Smaller but Higher Value Boe

<ul>
<li>The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.</li>
<li>The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).</li>
<li>The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.</li>
</ul>


The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.
The reservoir quality encountered at ANS-2A is consistent with ANS-2 (porosity and permeability ~20% higher than at ANS-3).
The oil-water contact was encountered very close to the top of the water wet reservoir encountered at ANS-2.


ADX Energy (ASX: ADX): Production Boost at Anshof in October

Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.</li>
<li>Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappointing and surprising given the results of the logs, the inflow of gas while drilling, the analysis of the retrieved cores (with indication of hydrocarbons) and the fact that oil samples were recovered from this interval.</li>
<li>The well is now being flowed while ADX is running a downhole production logging tool to analyse the contribution of the various sections of the well to flow. </li>
</ul>


ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.
Gas was initially observed at surface. While the achieved flow rate highlights the high permeability of the natural fractures, the absence of hydrocarbons is disappointing and surprising given the results of the logs, the inflow of gas while drilling, the analysis of the retrieved cores (with indication of hydrocarbons) and the fact that oil samples were recovered from this interval.
The well is now being flowed while ADX is running a downhole production logging tool to analyse the contribution of the various sections of the well to flow. 


Australia

ADX Energy Ltd. explores for oil and natural gas.  The Company operates onshore and offshore in Tunisia, offshore in Italy, and onshore in Australia.

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ADX Energy Ltd (ADX AU)

ADX Energy (ASX: ADX): Approvals to Start Well Testing at Welchau Received.

All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024...

Auctus Advisors

ADX Energy (ASX: ADX): Welchau Test to Start on 4th of November

MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November.

Auctus Advisors

ADX Energy (ASX: ADX): Welchau Is About Oil Rather than Gas: Perhaps Smaller but Higher Value Boe

Welchau is now interpreted as a light oil rather than a gas condensate discovery based on detailed analysis of samples recovered from the well and...

Auctus Advisors

ADX Energy (ASX: ADX): Production Boost at Anshof in October

The ANS-2A sidetrack well has encountered a 6.5 m net vertical oil column in high quality Eocene-aged sandstone reservoir.

Auctus Advisors

AUCTUS ON FRIDAY - 22/11/2024

ADX Energy (ADX AU) C : Portion of deeper target at Welchau flows water on test – Two intervals (total of ~16 m) in the Steinalm formation were...

Auctus Advisors

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