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>Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.</li><li>The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore gas pipeline to the Maghreb Europe Gas Pipeline (tie-in agreement already signed).</li><li>The future development drilling at Anchois will also target 754 bcf of additional gross 2U prospective resources with 49-61% chance of success.</li></ul>

Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.The FEED confirms a plateau production of 105 mmcf/d from three wells including the existing Anchois-2 well, subsea infrastructure to an onshore central processing facility and an onshore gas pipeline to the Maghreb Europe Gas Pipeline (tie-in agreement already signed).The future development drilling at Anchois will also target 754 bcf of additional gross 2U prospective resources with 49-61% chance of success.

Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected

Thematic (Sector/Industry)

<ul><li>Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper.</li><li>This compares with production rate of 1,900-2,000 in November which included an initial high contribution at East Pepper (that has since declined, as expected).</li><li>4Q22 production of 3,727 boe/d including 1,132 boe/d at Thorsby and 2,595 boe/d at Brooks was below our expectations of 3,970 boe/d.</li></ul>

Over January, production was ~1,800 boe/d with short term outages due to weather at Ombu and Pepper.This compares with production rate of 1,900-2,000 in November which included an initial high contribution at East Pepper (that has since declined, as expected).4Q22 production of 3,727 boe/d including 1,132 boe/d at Thorsby and 2,595 boe/d at Brooks was below our expectations of 3,970 boe/d.

<ul><li>Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares.</li><li>The consideration for the acquisition is US$0.5 mm payable in Chariot shares on completion.</li><li>Further consideration of up US$0.5 mm, also payable in Chariot shares, would be due on the achievement of financial close on further water projects.</li></ul>

Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares.The consideration for the acquisition is US$0.5 mm payable in Chariot shares on completion.Further consideration of up US$0.5 mm, also payable in Chariot shares, would be due on the achievement of financial close on further water projects.

Chariot Limited - Bringing Water Desalination Capabilities in House

<ul><li>Chariot (CHAR LN)C; Target price of £0.55 per share: Agreeing long term offtake gas sales principles is a very important step - Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.</li><li>This is an important step ahead of the signing of a GSA with a very credible counter party.</li><li>ATOME Energy (ATOM LN): Raising new equity for Paraguay Hydrogen – ATOME has raised £3.74 mm of new equity priced at 106.2 per share.</li></ul>

Chariot (CHAR LN)C; Target price of £0.55 per share: Agreeing long term offtake gas sales principles is a very important step - Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.This is an important step ahead of the signing of a GSA with a very credible counter party.ATOME Energy (ATOM LN): Raising new equity for Paraguay Hydrogen – ATOME has raised £3.74 mm of new equity priced at 106.2 per share.

<ul><li>Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.</li><li>The gas will be delivered via the Maghreb-Europe Gas Pipeline.</li><li>Value and newsflow Taking FID at the Anchois project in Morocco remains the key near term catalyst and would take our Core NAV to ~£0.65 per share.</li></ul>

Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.The gas will be delivered via the Maghreb-Europe Gas Pipeline.Value and newsflow Taking FID at the Anchois project in Morocco remains the key near term catalyst and would take our Core NAV to ~£0.65 per share.

Chariot Limited - Agreeing Long Term Offtake Gas Sales Principles Is a Very Important Step

United Kingdom

NWF Group plc, together with its subsidiaries, engages in the agricultural and distribution business delivering feed, food, and fuel in the United Kingdom. The company?s Feeds segment manufactures and sells animal feed and other agricultural products to farmers, as well as supplies seeds. Its Fuels segment sells and distributes domestic heating, industrial, and road fuels to domestic and commercial customers; and distributes fuel cards. This segment operates a network of 17 fuel depots. The company?s Food segment is involved in the warehousing and distribution of ambient grocery and other products to supermarket and other retail distribution centers. The company is also involved in agriculture nutritional advisory business. NWF Group plc was founded in 1871 and is headquartered in Nantwich, the United Kingdom.

Pharos Energy PLC is an independent oil and gas exploration and production company. The Company focuses on growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange. Pharos Energy has production, development, and exploration interests in Egypt, Israel, and Vietnam.

Rockhopper Exploration Plc operates as an oil and gas exploration and production company in the United Kingdom. It engages in the exploration and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. It holds 95.50% interests in the PL003a production licenses; 60.50% interests in PL003b production licenses; 64.00% interests in PL004a, PL004b, and PL004c production licenses; 100% interests in PL005 production licenses; and 40% interests in PL032 and PL033 production licenses. The company also holds a portfolio of production and exploration interests in Italy, Malta, and Croatia. Rockhopper Exploration Plc was founded in 2004 and headquartered in Salisbury, the United Kingdom.

Stobart Group Ltd. offers freight transportation and logistics services.  The Company transports cargo by truck, operates a rail freight terminal and port facilities, and offers warehouse storage services.

Quadrise Fuels International plc and its subsidiaries principally engage in the manufacture and marketing of emulsion fuel for use in power generation, industrial and marine diesel engines, and steam generation applications in the United Kingdom. It produces oil-in-water emulsion-based asphalts and fuels, through its MSAR technology as a substitute for conventional heavy fuel oil. Quadrise Fuels International plc was incorporated in 2004 and is based in London, the United Kingdom.

Afentra PLC is an independent Oil & Gas company focused on the African Energy Transition. The Company has a current interest in a high potential exploration project, onshore southwestern Somaliland.

Petro Matad Limited is a holding company. The Company, through its subsidiaries is focused on oil exploration, as well as future development and production in Mongolia.

Sound Energy plc, together its subsidiaries, operates as an oil and gas exploration, development, and production company. It operates a portfolio of 22 onshore gas licenses and permits in Italy and Morocco. The company was formerly known as Sound Oil Plc and changed its name to Sound Energy plc in September 2015. Sound Energy plc was founded in 2005 and is based in Sevenoaks, the United Kingdom.

Egdon Resources PLC is an oil and gas exploration and production company.  The Group owns acreage in the United Kingdom and France.

The Parkmead Group plc, an independent oil and gas company, engages in the exploration and production of oil and gas properties. It holds interests in 48 exploration and production blocks; and produces approximately 5,000 barrels of oil equivalent per day. The company also provides energy sector economics, valuation, and benchmarking services, as well as advises on energy policies and fiscal matters, and undertakes economic evaluations; and benchmarking and training services. It has operations in Europe, North America, and internationally. The Parkmead Group plc was incorporated in 2000 and is headquartered in Aberdeen, the United Kingdom.

PT Soechi Lines Tbk operates as an integrated liquid and gas transportation services company for cargoes such as crude oil, fuel oil, liquefied chemicals, and liquefied petroleum gas. The Company owns and operates tankers, floating storage and offloading units. Soechi Lines also operates a shipyard constructing new-builds and performing maintenance and repairs.

Shell Pakistan Limited markets petroleum and petrochemical products. The Company also blends and markets different types of lubricating oils.

Mi Chang Oil Industrial Co., Ltd. refines, produces, and distributes lubricants used in industrial machinery, ships, and automobiles.  The Company also produces rubber processing oil for rubber products manufacturing and insulating oil for electrical properties.

Strong Petrochemical Holdings, Ltd. offers trades of crude oil, petroleum products, and petrochemical products.

Pancontinental Oil & Gas NL  a petroleum (oil and gas / hydrocarbon)  exploration company with key assets in Australia, Kenya and Namibia. The Company has high-percentage interests in a range of oil and gas targets in Australia and Africa.

JC Chemical Co., Ltd, manufactures biofuels including biodisel and other byproducts derived from bioenergy source.

Alligator Energy Ltd. is a uranium exploration company. The Company is focused on prospective, drill ready uranium targets on granted tenements in Australia's uranium province, the ARUP in the Northern Territory.

SUSCO Pcl distributes petroleum products including unleaded and regular gasoline and diesel oil through its gasoline filling stations and directly to large end-users.  Through its subsidiaries, the Company acts as an oil agent and offers marine freight transportation services.

E.A. Technique (M) Bhd owns and operates marine vessels focusing on marine transportation and offshore storage of oil and gas, and provision of port marine services. The Company also owns a shipyard involved in shipbuilding, ship repair and minor fabrication of steel structures.

RH Petrogas Limited is an independent oil and gas company. The Company acquires and develops properties for oil and natural gas resources.

Chariot Limited is an independent oil and gas exploration group focused on Namibia and Mauritania.

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Chariot Limited (CHAR LN)

Chariot Limited (AIM: CHAR): One step closer to FID – Production ramp-up quicker than expected

Chariot has completed the Front-End Engineering and Design (FEED) on the key components of the Anchois gas development project.

Auctus Advisors

Auctus on Friday - 03/02/2023

4Q22 production of 3,727 boe/d including 1,132 boe/d at Thorsby and 2,595 boe/d at Brooks was below our expectations of 3,970 boe/d.

Auctus Advisors

Chariot Limited - Bringing Water Desalination Capabilities in House

Chariot is acquiring ENEO Water PTE for US$0.5-1.0 mm in Chariot shares. The consideration for the acquisition is US$0.5 mm payable in Chariot...

Auctus Advisors

Auctus on Friday - 16/12/2022

ATOME Energy (ATOM LN): Raising new equity for Paraguay Hydrogen – ATOME has raised £3.74 mm of new equity priced at 106.2 per share.

Auctus Advisors

Chariot Limited - Agreeing Long Term Offtake Gas Sales Principles Is a Very Important Step

Key principles for long term gas sales from the Anchois Gas Project have been agreed with the Office National de l'Electricité et de l'Eau Potable.

Auctus Advisors

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