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>Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: 1.9 mbbl/d at latest CN well.</li>
<li>Water disposal infrastructure operational.</li>
<li>High net cash – The fifth horizontal well at Carrizales Norte (CNB HZ-6) is producing 1.9 mbbl/d of oil (0.95 mbbl/d net to Arrow) with a water cut of 31%.</li>
</ul>


Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: 1.9 mbbl/d at latest CN well.
Water disposal infrastructure operational.
High net cash – The fifth horizontal well at Carrizales Norte (CNB HZ-6) is producing 1.9 mbbl/d of oil (0.95 mbbl/d net to Arrow) with a water cut of 31%.


<ul>
<li>ADX Energy (ADX AU)C; Target price of A$0.70 per share: Approvals to start well testing at Welchau received.</li>
<li>Rig and test equipment mobilized – All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.</li>
<li>A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.</li>
</ul>


ADX Energy (ADX AU)C; Target price of A$0.70 per share: Approvals to start well testing at Welchau received.
Rig and test equipment mobilized – All necessary approvals have been received to commence flow testing operations on the Welchau-1 discovery well for the period from 30 October 2024 until 31 March 2025.
A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.


<ul>
<li>Condor Energies (CDR CN) C ; Target price of C$5.80 per share: Another positive operating update – The workovers 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. The second well is producing an extra 31 boe/d (+65%) and continues to clean-up.</li>
<li>With a total cost of &lt;US$0.2 mm, the pay back of theses workovers is ~2 months. This is a very good result that showcases the opportunity in Uzbekistan. </li>
</ul>


Condor Energies (CDR CN) C ; Target price of C$5.80 per share: Another positive operating update – The workovers 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.
With a total cost of &lt;US$0.2 mm, the pay back of theses workovers is ~2 months. This is a very good result that showcases the opportunity in Uzbekistan. 


<ul>
<li>ADX Energy (ADX AU)C; Target price A$0.75 per share: Welchau test to start on 4th of November.</li>
<li>LICHT well to reach main target next week – MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November.</li>
<li>The initial well test results could also be available during November.</li>
</ul>


ADX Energy (ADX AU)C; Target price A$0.75 per share: Welchau test to start on 4th of November.
LICHT well to reach main target next week – MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to start on 4th of November.
The initial well test results could also be available during November.


<ul>
<li>GeoPark (GPRK US)C; Target price US$26 per share: Downtime and blockades continue to impact production.</li>
<li>All eyes on Argentina – 3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6 mboe/d).</li>
<li>Production at Llanos-34 continues to decline.</li>
</ul>


GeoPark (GPRK US)C; Target price US$26 per share: Downtime and blockades continue to impact production.
All eyes on Argentina – 3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6 mboe/d).
Production at Llanos-34 continues to decline.


Norway

Equinor ASA operates as an energy company. The Company develops oil, gas, wind, and solar energy projects, as well as focuses on offshore operations and exploration services. Equinor serves customers worldwide.

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AUCTUS ON FRIDAY - 15/11/2024

Arrow Exploration (AXL LN/CN)C; Target price of £0.70 per share: 1.9 mbbl/d at latest CN well. Water disposal infrastructure operational. High net...

Auctus Advisors

AUCTUS ON FRIDAY - 08/11/2024

A workover rig has been mobilised to the Welchau-1 drill site with flow testing due to commence during the second half of November.

Auctus Advisors

AUCTUS ON FRIDAY - 01/11/2024

Another positive operating update – The workovers of two new existing wells have added 441 boe/d after a combined 20 m of previously unperforated...

Auctus Advisors

AUCTUS ON FRIDAY - 25/10/2024

LICHT well to reach main target next week – MCF Energy (the partner of ADX at Welchau) has announced that the well test at Welchau is expected to...

Auctus Advisors

AUCTUS ON FRIDAY - 11/10/2024

All eyes on Argentina – 3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6...

Auctus Advisors

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