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

Arrow Exploration Corp / Equity Bottom-Up

<ul>
<li>The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation. </li>
<li>The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize recovery factor.</li>
<li>The net pay encountered in the Ubaque at CN-2, the oil quality and the achieved flow rate are consistent with the Ubaque at CN-1.</li>
</ul>


The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation. 
The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize recovery factor.
The net pay encountered in the Ubaque at CN-2, the oil quality and the achieved flow rate are consistent with the Ubaque at CN-1.


Arrow Exploration Corp. (AIM: AXL): CN-2 Flows at up to 1 Mbbl/D.

<ul><li>The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow). </li><li>During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.</li><li>The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).</li></ul>

The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow). During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).

Arrow Exploration Corp. -  CN-1 Well in Production at 1.1 Mbbl/D from the C7 Sands

<ul><li>The Gacheta zones proved unproductive at the CN-1 well location.</li><li>Management is investigating potential reasons for the lack of productivity and plans to re-evaluate these Gacheta zones in future wells.</li><li>The Gacheta zones were located above the Ubaque that flowed at rates &gt;1,100 bbl/d.</li></ul>

The Gacheta zones proved unproductive at the CN-1 well location.Management is investigating potential reasons for the lack of productivity and plans to re-evaluate these Gacheta zones in future wells.The Gacheta zones were located above the Ubaque that flowed at rates &gt;1,100 bbl/d.

Arrow Exploration Corp. (AIM: AXL): No Flow from the Gacheta

<ul><li>The Ubaque horizon at the Carrizales Norte-1 (CN-1) exploration well was put on three tests, the last of which tested at 1,134 bbl/d of 13.5 API oil on pump.</li><li>There is an opportunity to mix the heavy oil from the Ubaque with the C7 light to maximize pricing. </li><li>Pending further visibility on the discovered volumes in the Ubaque at Carrizales Norte, we re-iterate our target price of £0.50 per share (~our ReNAV).</li></ul>

The Ubaque horizon at the Carrizales Norte-1 (CN-1) exploration well was put on three tests, the last of which tested at 1,134 bbl/d of 13.5 API oil on pump.There is an opportunity to mix the heavy oil from the Ubaque with the C7 light to maximize pricing. Pending further visibility on the discovered volumes in the Ubaque at Carrizales Norte, we re-iterate our target price of £0.50 per share (~our ReNAV).

Arrow Exploration Corp. - Zone at Carrizales Norte with No Booked Reserves Has Flowed >1 Mbbl/D

<ul><li>The Carrizales Norte-1 (CN-1) exploration well encountered a total of 148 feet of net oil pay measured depth (128 feet TVD) across three very high quality sands.</li><li>This is the largest net oil pay encountered by a well so far on Tapir (RCE-5: 90 feet, RCE-4: 45 feet, RCE-3: 58 feet, RCE-2 80 feet, RCS-1: 55 feet).</li><li>Because the reservoirs encountered at CN-1 are slightly deeper than at Rio Cravo, the pressure of the reservoirs is expected to be higher, resulting in high production rates.</li></ul>

The Carrizales Norte-1 (CN-1) exploration well encountered a total of 148 feet of net oil pay measured depth (128 feet TVD) across three very high quality sands.This is the largest net oil pay encountered by a well so far on Tapir (RCE-5: 90 feet, RCE-4: 45 feet, RCE-3: 58 feet, RCE-2 80 feet, RCS-1: 55 feet).Because the reservoirs encountered at CN-1 are slightly deeper than at Rio Cravo, the pressure of the reservoirs is expected to be higher, resulting in high production rates.

Arrow Exploration Corp - Exploration Success at Carrizales Norte

Canada

Arrow Exploration Corp. is a public junior oil and gas company. The Company focuses in the acquisition, exploration, and development of oil and gas properties in Colombia and in Western Canada.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Arrow Exploration Corp (AXL LN)

Arrow Exploration Corp. (AIM: AXL): CN-2 Flows at up to 1 Mbbl/D.

The CN-2 well is currently producing 680 bbl/d gross (340 bbl/d net) as the company has set the ESP at the minimum optimum rate to maximize...

Auctus Advisors

Arrow Exploration Corp. - CN-1 Well in Production at 1.1 Mbbl/D from the C7 Sands

The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1 mbbl/d (550 bbl/d net to Arrow).

Auctus Advisors

Arrow Exploration Corp. (AIM: AXL): No Flow from the Gacheta

Management is investigating potential reasons for the lack of productivity and plans to re-evaluate these Gacheta zones in future wells.

Auctus Advisors

Arrow Exploration Corp. - Zone at Carrizales Norte with No Booked Reserves Has Flowed >1 Mbbl/D

The Ubaque horizon at the Carrizales Norte-1 (CN-1) exploration well was put on three tests, the last of which tested at 1,134 bbl/d of 13.5 API...

Auctus Advisors

Arrow Exploration Corp - Exploration Success at Carrizales Norte

The Carrizales Norte-1 (CN-1) exploration well encountered a total of 148 feet of net oil pay measured depth (128 feet TVD) across three very high...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)