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>3Q24 production was 10,010 boe/d; which is line with our expectations.</li>
<li>Production has increased to 10,706 bo/ed in the last seven days following low cost work-over activities.</li>
<li>With the expansion of the workover programme upon the arrival of the second work-over rig and the installation of additional in-field flowline water separation systems, we expect that this trend will continue.</li>
</ul>


3Q24 production was 10,010 boe/d; which is line with our expectations.
Production has increased to 10,706 bo/ed in the last seven days following low cost work-over activities.
With the expansion of the workover programme upon the arrival of the second work-over rig and the installation of additional in-field flowline water separation systems, we expect that this trend will continue.


Condor Energies Inc. (TSX: CDR): Good Quarter. Positive Signals at High Value LNG Project for the Mobility Sector

<ul>
<li>The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed.</li>
<li>The first well is producing 410 boe/d. It was previously shut-in.</li>
<li>The second well is producing an extra 31 boe/d (+65%) and continues to clean-up. </li>
</ul>


The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed.
The first well is producing 410 boe/d. It was previously shut-in.
The second well is producing an extra 31 boe/d (+65%) and continues to clean-up. 


Condor Energies Inc. (TSX: CDR): Another positive operating update

<ul>
<li>The initial result of the workover programme in Uzbekistan has delivered results exceeding the company’s expectations.</li>
<li>Seven made-in-Canada artificial lift systems (plunger lifts) have been installed in existing wells.</li>
<li>The first three wells have been put on production at a much higher flow rates (+100-300%) than prior to the workovers.</li>
</ul>


The initial result of the workover programme in Uzbekistan has delivered results exceeding the company’s expectations.
Seven made-in-Canada artificial lift systems (plunger lifts) have been installed in existing wells.
The first three wells have been put on production at a much higher flow rates (+100-300%) than prior to the workovers.


Condor Energies Inc. (TSX: CDR): Positive response from first workovers

<ul>
<li>Condor has received a second natural gas allocation to feed the second modular LNG plant near the Kuryk Port on the Caspian Sea.</li>
<li>The natural gas allocation will allow the company to produce the energy equivalent of 565,000 litres of diesel per day (~400 t/d of LNG).</li>
<li>This is line with the company’s targets and is a key milestone in derisking the Kuryk plant.</li>
</ul>


Condor has received a second natural gas allocation to feed the second modular LNG plant near the Kuryk Port on the Caspian Sea.
The natural gas allocation will allow the company to produce the energy equivalent of 565,000 litres of diesel per day (~400 t/d of LNG).
This is line with the company’s targets and is a key milestone in derisking the Kuryk plant.


Condor Energies Inc. (TSX: CDR): Further feed gas allocation in Kazakhstan is key step to derisking the 2nd high value LNG plant

<ul>
<li>Condor Energies is a ~US$75 mm market cap TSX-listed company focused on low carbon and energy transition opportunities in Central Asia.</li>
<li>Condor was transformed in 2024 by the acquisition of &gt;10 mboe/d production of natural gas in Uzbekistan.</li>
<li>The key value driver for the shares is the imminent sanction of Condor’s 1st liquefaction plant in Kazakhstan to convert low-cost natural gas into high value LNG to displace expensive diesel for rail and mining haul truck transportation.</li>
</ul>


Condor Energies is a ~US$75 mm market cap TSX-listed company focused on low carbon and energy transition opportunities in Central Asia.
Condor was transformed in 2024 by the acquisition of &gt;10 mboe/d production of natural gas in Uzbekistan.
The key value driver for the shares is the imminent sanction of Condor’s 1st liquefaction plant in Kazakhstan to convert low-cost natural gas into high value LNG to displace expensive diesel for rail and mining haul truck transportation.


Condor Energies Inc. (TSX: CDR): Initiating Coverage

Canada

Condor Energies Inc. is an international oil and gas company. The Company engages in exploration, development, and production of oil, natural gas, and NGLs in Kazakhstan and Canada.

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Condor Energies (CDR CN)

Condor Energies Inc. (TSX: CDR): Good Quarter. Positive Signals at High Value LNG Project for the Mobility Sector

3Q24 production was 10,010 boe/d; which is line with our expectations.Production has increased to 10,706 bo/ed in the last seven days following low...

Auctus Advisors

Condor Energies Inc. (TSX: CDR): Another positive operating update

The work-overs of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated reservoir pay was accessed.

Auctus Advisors

Condor Energies Inc. (TSX: CDR): Positive response from first workovers

The initial result of the workover programme in Uzbekistan has delivered results exceeding the company’s expectations.

Auctus Advisors

Condor Energies Inc. (TSX: CDR): Further feed gas allocation in Kazakhstan is key step to derisking the 2nd high value LNG plant

Condor has received a second natural gas allocation to feed the second modular LNG plant near the Kuryk Port on the Caspian Sea.

Auctus Advisors

Condor Energies Inc. (TSX: CDR): Initiating Coverage

Condor Energies is a ~US$75 mm market cap TSX-listed company focused on low carbon and energy transition opportunities in Central Asia.

Auctus Advisors

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