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.

Thematic (Sector/Industry)

<ul><li>ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d.</li><li>Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.</li><li>Seplat Energy (SEPL LN): 1Q23 results – 1Q23 WI production in Nigeria was 51,720 boe/d.</li></ul>

ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d.Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.Seplat Energy (SEPL LN): 1Q23 results – 1Q23 WI production in Nigeria was 51,720 boe/d.

Equity Bottom-Up

<ul><li>The FY22 financials were in line with our expectations.</li><li>This could be an indication that the company is close to announcing an acquisition and/or an equity transaction.</li><li>We note that the share price of Conrad Asia Energy (the closest comparable to Criterium based on its current asset base) has been very resilient.</li></ul>

The FY22 financials were in line with our expectations.This could be an indication that the company is close to announcing an acquisition and/or an equity transaction.We note that the share price of Conrad Asia Energy (the closest comparable to Criterium based on its current asset base) has been very resilient.

Criterium Energy Ltd (TSX-V: CEQ): On Track for near Term Acquisition

<ul><li>Chariot (CHAR LM) C; Target price of £0.55 per share: 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.</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>Neptune Energy: FY22 results – FY22 production was 135 mboe/d.</li></ul>

Chariot (CHAR LM) C; Target price of £0.55 per share: 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.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).Neptune Energy: FY22 results – FY22 production was 135 mboe/d.

Canada

Criterium Energy Ltd. is a mineral exploration and mining company. The Company mines for oil and gas in southern Turkey. Criterium Energy also mines for diamonds, gold, and base metals in Greenland.

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Criterium Energy (CEQ CN)

Auctus on Friday - 28/04/2023

Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.

Auctus Advisors

Criterium Energy Ltd (TSX-V: CEQ): On Track for near Term Acquisition

The FY22 financials were in line with our expectations. This could be an indication that the company is close to announcing an acquisition and/or...

Auctus Advisors

Auctus on Friday - 10/03/2023

One step closer to FID – Production ramp-up quicker than expected – Chariot has completed the Front-End Engineering and Design (FEED) on the key...

Auctus Advisors

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