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>The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.</li>
<li>This represents 356 m of gross interval across three interpreted lithological sequences.</li>
<li>This compares with only 115 m of liquids-rich gas shows announced previously.</li>
</ul>


The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.
This represents 356 m of gross interval across three interpreted lithological sequences.
This compares with only 115 m of liquids-rich gas shows announced previously.


ADX Energy (ASX: ADX): Logging results at Welchau further derisk the discovery

<ul>
<li>The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m.</li>
<li>The deepest gas shows were encountered at a depth of 1645 m.</li>
<li>The well has reached TD at 1733 m.</li>
</ul>


The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and 1567 m.
The deepest gas shows were encountered at a depth of 1645 m.
The well has reached TD at 1733 m.


ADX Energy (ASX: ADX): Very high impact exploration well encounters gas and condensate in Austria

<ul>
<li>4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications).</li>
<li>Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility.</li>
<li>Drilling at the high impact Welchau-1 well targeting between 365 bcf and 1,128 bcf gross prospective resources is expected to commence in early February.</li>
</ul>


4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications).
Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility.
Drilling at the high impact Welchau-1 well targeting between 365 bcf and 1,128 bcf gross prospective resources is expected to commence in early February.


ADX Energy (ASX: ADX): Operations on Track

<ul>
<li>A rig is expected to be mobilised to the high impact Welchau-1 drilling location during the last week of January.</li>
<li>Welchau gross prospective resources have been independently estimated at 365 to1,128 bcf (ADX’s internal estimates: 212 to1,631 bcf).</li>
<li>During 4Q24, ADX plans to drill the IRR-1 gas prospect with 38 bcf gross prospective resources or the LICHT prospect.</li>
</ul>


A rig is expected to be mobilised to the high impact Welchau-1 drilling location during the last week of January.
Welchau gross prospective resources have been independently estimated at 365 to1,128 bcf (ADX’s internal estimates: 212 to1,631 bcf).
During 4Q24, ADX plans to drill the IRR-1 gas prospect with 38 bcf gross prospective resources or the LICHT prospect.


ADX Energy (ASX: ADX): Drilling Rig on Location of High Impact Well by the End of January

<ul><li>• The Anshof-2 well encountered high quality Eocene sands with at least 12 metres vertical thickness and porosity of ~20%. • The top of the Eocene sand was encountered ~40-50 m higher than expected, suggesting a much larger and flatter structure than expected in the P50 case. • The better-than-expected reservoir quality and thicker sands suggest better well deliverability and higher flow rates, which result in a higher production plateau and lower development cost with a positive impact on NPV.</li></ul>

• The Anshof-2 well encountered high quality Eocene sands with at least 12 metres vertical thickness and porosity of ~20%. • The top of the Eocene sand was encountered ~40-50 m higher than expected, suggesting a much larger and flatter structure than expected in the P50 case. • The better-than-expected reservoir quality and thicker sands suggest better well deliverability and higher flow rates, which result in a higher production plateau and lower development cost with a positive impact on NPV.

ADX Energy (ASX: ADX): Narrowing uncertainty and resources range at Anshof

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): Logging results at Welchau further derisk the discovery

The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with...

Auctus Advisors

ADX Energy (ASX: ADX): Very high impact exploration well encounters gas and condensate in Austria

The Welchau well (ADX WI: 75%) encountered 115 m of liquids-rich gas shows in the primary target formation (Steinalm Formation) between 1452 m and...

Auctus Advisors

ADX Energy (ASX: ADX): Operations on Track

4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications).

Auctus Advisors

ADX Energy (ASX: ADX): Drilling Rig on Location of High Impact Well by the End of January

Welchau gross prospective resources have been independently estimated at 365 to1,128 bcf (ADX’s internal estimates: 212 to1,631 bcf).

Auctus Advisors

ADX Energy (ASX: ADX): Narrowing uncertainty and resources range at Anshof

• The Anshof-2 well encountered high quality Eocene sands with at least 12 metres vertical thickness and porosity of ~20%. • The top of the Eocene...

Auctus Advisors

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