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 Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by YE23 – ADX is expected to start drilling the Anshof-2 appraisal well in November.</li><li>Anshof is also estimated to hold 5.5 mmboe net 3C contingent resources (net to ADX).</li><li>We have changed our target price to A$0.80 per share as we incorporate the recently announced 10 for 1 share consolidation.</li></ul>

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by YE23 – ADX is expected to start drilling the Anshof-2 appraisal well in November.Anshof is also estimated to hold 5.5 mmboe net 3C contingent resources (net to ADX).We have changed our target price to A$0.80 per share as we incorporate the recently announced 10 for 1 share consolidation.

Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

<p>On 10 October, Canacol Energy provided an update on gas sales and drilling results. Gas sales in Q3 were 178mmcf/day, which was down approximately 4% from the level seen in Q2 due to previously flagged problems at its Jobo gas processing plant. This is being resolved and management is confident about achieving its average 2023 production targets.</p>

On 10 October, Canacol Energy provided an update on gas sales and drilling results. Gas sales in Q3 were 178mmcf/day, which was down approximately 4% from the level seen in Q2 due to previously flagged problems at its Jobo gas processing plant. This is being resolved and management is confident about achieving its average 2023 production targets.

Canacol Energy - Q3 gas sales dip but netbacks improve

<ul>
<li>Pulsar Helium (PLSR CN) C ; target price of C$0.90 per share: Additional acreage should increase the size of the prize – Pulsar has signed a lease with a private mineral rights holder to expand the area of the company’s Topaz helium project.</li>
<li>The additional mineral rights are within a 6.2 mile radius of the Topaz discovery and cover a total of 2,840 gross acres (1,049 net acres).</li>
<li>This represents ~100% increase to the existing 1,040 net acres under lease. Pulsar has also an option to acquire a further 2,092 net acres. </li>
</ul>


Pulsar Helium (PLSR CN) C ; target price of C$0.90 per share: Additional acreage should increase the size of the prize – Pulsar has signed a lease with a private mineral rights holder to expand the area of the company’s Topaz helium project.
The additional mineral rights are within a 6.2 mile radius of the Topaz discovery and cover a total of 2,840 gross acres (1,049 net acres).
This represents ~100% increase to the existing 1,040 net acres under lease. Pulsar has also an option to acquire a further 2,092 net acres. 


Thematic (Sector/Industry)

<ul>
<li>ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.</li>
<li>This was a key condition precedent to completing the transaction.</li>
<li>The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. </li>
</ul>


ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.
This was a key condition precedent to completing the transaction.
The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. 


<p>Canacol Energy released its 2022 ESG Report on 9 August. It highlights the company’s desire for a 50% reduction in Scope 1 and 2 emissions by 2035, to achieve carbon neutrality by 2050 and to have no methane emissions by 2026. This reflects Canacol Energy’s position as a top decile upstream performer in the S&P Global Corporate Sustainability Assessment.</p>

Canacol Energy released its 2022 ESG Report on 9 August. It highlights the company’s desire for a 50% reduction in Scope 1 and 2 emissions by 2035, to achieve carbon neutrality by 2050 and to have no methane emissions by 2026. This reflects Canacol Energy’s position as a top decile upstream performer in the S&P Global Corporate Sustainability Assessment.

Canacol Energy - 2022 ESG report highlights new goals

Canada

Canacol Energy Limited is an international junior energy company with production and exploration operations located in South America. The Company's operations are focused in Colombia, with operations also in Ecuador.

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Canacol Energy (CNE CN)

Auctus on Friday - 20/10/2023

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by...

Auctus Advisors

Canacol Energy - Q3 gas sales dip but netbacks improve

On 10 October, Canacol Energy provided an update on gas sales and drilling results. Gas sales in Q3 were 178mmcf/day, which was down approximately...

Edison Investment Research

Auctus on Friday - 13/10/2023

Pulsar has signed a lease with a private mineral rights holder to expand the area of the company’s Topaz helium project.

Auctus Advisors

Auctus on Friday - 08/09/2023

DX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.

Auctus Advisors

Canacol Energy - 2022 ESG report highlights new goals

Canacol Energy released its 2022 ESG Report on 9 August. It highlights the company’s desire for a 50% reduction in Scope 1 and 2 emissions by 2035,...

Edison Investment Research

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