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 has matured its Austrian exploration portfolio following: (1) recent drilling results, (2) licence area modifications, and (3) updated technical evaluations.</li>
<li>Excluding the Welchau-1 well drilled in 2024—where resource classification remains pending due to suspended flow testing (following an environmental objection)—ADX has delineated 24 drillable prospects across five distinct plays, with P50 prospective resources of ~247 bcf and 31 mmbbl (~72 mmboe).</li>
<li>The proportion of gas in the exploration portfolio (excluding Welchau-1) has increased from ~44% % to ~68% with OHO (15 mmboe) now estimated to hold gas rather than oil.</li>
</ul>


ADX has matured its Austrian exploration portfolio following: (1) recent drilling results, (2) licence area modifications, and (3) updated technical evaluations.
Excluding the Welchau-1 well drilled in 2024—where resource classification remains pending due to suspended flow testing (following an environmental objection)—ADX has delineated 24 drillable prospects across five distinct plays, with P50 prospective resources of ~247 bcf and 31 mmbbl (~72 mmboe).
The proportion of gas in the exploration portfolio (excluding Welchau-1) has increased from ~44% % to ~68% with OHO (15 mmboe) now estimated to hold gas rather than oil.


ADX Energy (ASX: ADX): Firming-up the exploration portfolio in Austria

<ul>
<li>ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily.</li>
<li>The permit has an initial term of 6 years, with the option for 2 additional 3-year renewal periods.</li>
<li>In the event of a commercial discovery, an exploitation concession may be granted for 20 years, extendable by a further 10 years.</li>
</ul>


ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily.
The permit has an initial term of 6 years, with the option for 2 additional 3-year renewal periods.
In the event of a commercial discovery, an exploitation concession may be granted for 20 years, extendable by a further 10 years.


ADX Energy (ASX: ADX): Formal permit award in Italy adds gas exploration upside

<ul>
<li>2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin.</li>
<li>The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perforation of a new oil production zone in a well.</li>
<li>Despite a drop in oil price revenue during June, adjusted 2Q25 sales were A$3.5 mm.</li>
</ul>


2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and Gaiselberg fields in the Vienna Basin.
The programme included (1) repair of subsurface equipment, (2) clean out of a down hole sand control (3) perforation of a new oil production zone in a well.
Despite a drop in oil price revenue during June, adjusted 2Q25 sales were A$3.5 mm.


ADX Energy (ASX: ADX): High Production at Z&G.

<ul><li>• ADX has varied its acreage position to maximise exposure to a proven shallow gas play.</li><li>A total of seven drill-ready shallow gas play prospects exist within the ADX-AT-I and ADX-AT-II licence areas have been matured for drilling.</li><li>A further four gas prospects are being matured within its newly varied acreage areas.</li></ul>

• ADX has varied its acreage position to maximise exposure to a proven shallow gas play.A total of seven drill-ready shallow gas play prospects exist within the ADX-AT-I and ADX-AT-II licence areas have been matured for drilling.A further four gas prospects are being matured within its newly varied acreage areas.

ADX Energy (ASX: ADX): Focus on the shallow gas prospects

<ul>
<li>ADX has now matured 13 shallow gas prospects across the ADX-AT-I and ADX-AT-II licence areas in Austria.</li>
<li>The play is proven, supported by historical discoveries within the basin.</li>
<li>Nearby historical discoveries in the area have produced 220 bcf to date.</li>
</ul>


ADX has now matured 13 shallow gas prospects across the ADX-AT-I and ADX-AT-II licence areas in Austria.
The play is proven, supported by historical discoveries within the basin.
Nearby historical discoveries in the area have produced 220 bcf to date.


ADX Energy: Adding Four Low Risk Drill-Ready Shallow Gas Prospects to Start Drilling by YE25

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): Firming-up the exploration portfolio in Austria

ADX has matured its Austrian exploration portfolio following: (1) recent drilling results, (2) licence area modifications, and (3) updated...

Auctus Advisors

ADX Energy (ASX: ADX): Formal permit award in Italy adds gas exploration upside

ADX has been formally awarded the C.R150.AU offshore exploration permit in Sicily. The permit has an initial term of 6 years, with the option for 2...

Auctus Advisors

ADX Energy (ASX: ADX): High Production at Z&G.

2Q25 net production of 303 boe/d was higher than our expectations of ~270 boe/d following a 5 well intervention programme at the Zisterdorf and...

Auctus Advisors

ADX Energy (ASX: ADX): Focus on the shallow gas prospects

• ADX has varied its acreage position to maximise exposure to a proven shallow gas play. A total of seven drill-ready shallow gas play prospects...

Auctus Advisors

ADX Energy: Adding Four Low Risk Drill-Ready Shallow Gas Prospects to Start Drilling by YE25

ADX has now matured 13 shallow gas prospects across the ADX-AT-I and ADX-AT-II licence areas in Austria. The play is proven, supported by...

Auctus Advisors

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