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>GeoPark has signed a binding agreement to acquire Repsol’s 45% interest in CPO-9 and its 25% stake in SierraCol Energy Arauca.</li>
<li>Carlyle owns 100% of SierraCol Energy, that owns 75% of SierraCol Energy Arauca.</li>
<li>Sierracol Energy Arauca holds interests in Cravo Norte, Cosecha, Chipiron and Rondon, all located in the Llanos basin in Colombia.</li>
</ul>


GeoPark has signed a binding agreement to acquire Repsol’s 45% interest in CPO-9 and its 25% stake in SierraCol Energy Arauca.
Carlyle owns 100% of SierraCol Energy, that owns 75% of SierraCol Energy Arauca.
Sierracol Energy Arauca holds interests in Cravo Norte, Cosecha, Chipiron and Rondon, all located in the Llanos basin in Colombia.


GeoPark Limited (NYSE: GPRK): Potential Material Acquisition in Colombia

<ul>
<li>The three exploration wells at Confluencia Norte in Argentina are now in production with an aggregate gross flow rate of 4 mbbl/d (Geopark WI: 50%).</li>
<li>The wells are still cleaning-up and production is increasing towards its peak within 90 days.</li>
<li>This is a very good result that derisks the area where no reserves have been booked so far.</li>
</ul>


The three exploration wells at Confluencia Norte in Argentina are now in production with an aggregate gross flow rate of 4 mbbl/d (Geopark WI: 50%).
The wells are still cleaning-up and production is increasing towards its peak within 90 days.
This is a very good result that derisks the area where no reserves have been booked so far.


GeoPark Limited (NYSE: GPRK): Success at Confluencia Norte: material reserves and production boost

<ul>
<li> 3Q24 production of 33,215 boe/d had already been reported.</li>
<li>3Q24 operating cash flow of ~US$126 mm was particularly high.</li>
<li>Netting off a positive working capital movement of US$32 mm, the adjusted operating cash flow of US$94 mm is well above our forecast of US$65 mm.</li>
</ul>


 3Q24 production of 33,215 boe/d had already been reported.
3Q24 operating cash flow of ~US$126 mm was particularly high.
Netting off a positive working capital movement of US$32 mm, the adjusted operating cash flow of US$94 mm is well above our forecast of US$65 mm.


GeoPark Limited (NYSE: GPRK): Strong 3Q24 Financials.

<ul>
<li>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. Production in Brazil remains shut-in. GeoPark had highlighted these downside risks in August.</li>
<li>This was partially offset by (1) high production of 1,581 boe/d from Llanos Exploration (Llanos 87 and 123), mainly driven by the Toritos 2 and the Toritos Norte wells and (2) increasing production in Ecuador (1,786 boe/d).</li>
</ul>


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. Production in Brazil remains shut-in. GeoPark had highlighted these downside risks in August.
This was partially offset by (1) high production of 1,581 boe/d from Llanos Exploration (Llanos 87 and 123), mainly driven by the Toritos 2 and the Toritos Norte wells and (2) increasing production in Ecuador (1,786 boe/d).


GeoPark Limited (NYSE: GPRK): Donwtime and Blockades Continue to Impact Production

<ul>
<li>2Q24 production of 35,608 boe/d had been already reported.</li>
<li>Production in Brazil has not been restored yet and is expected to restart only at the end of October.</li>
<li>In light of (1) the longer than expected shutdown and uncertain restart date in Brazil (FY23 production was ~1 mboe/d) and (2) increased frequency and duration of blockades around the operations in Colombia, there is a downside risk of 1.5-2.5 mboe/d to the FY24 production guidance of 35.5-39 mboe/d (excluding Argentina and the contribution of any exploration success).</li>
</ul>


2Q24 production of 35,608 boe/d had been already reported.
Production in Brazil has not been restored yet and is expected to restart only at the end of October.
In light of (1) the longer than expected shutdown and uncertain restart date in Brazil (FY23 production was ~1 mboe/d) and (2) increased frequency and duration of blockades around the operations in Colombia, there is a downside risk of 1.5-2.5 mboe/d to the FY24 production guidance of 35.5-39 mboe/d (excluding Argentina and the contribution of any exploration success).


GeoPark Limited (NYSE: GPRK): Strong Financials on Low Cash Tax.

Colombia

Geopark Limited is an oil and gas exploration and production company. The Company has operating and production properties in Chile, Colombia, Brazil and Argentina.

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Geopark Ltd (GPRK US)

GeoPark Limited (NYSE: GPRK): Potential Material Acquisition in Colombia

GeoPark has signed a binding agreement to acquire Repsol’s 45% interest in CPO-9 and its 25% stake in SierraCol Energy Arauca.

Auctus Advisors

GeoPark Limited (NYSE: GPRK): Success at Confluencia Norte: material reserves and production boost

The three exploration wells at Confluencia Norte in Argentina are now in production with an aggregate gross flow rate of 4 mbbl/d (Geopark WI: 50%).

Auctus Advisors

GeoPark Limited (NYSE: GPRK): Strong 3Q24 Financials.

3Q24 production of 33,215 boe/d had already been reported. 3Q24 operating cash flow of ~US$126 mm was particularly high.

Auctus Advisors

GeoPark Limited (NYSE: GPRK): Donwtime and Blockades Continue to Impact Production

3Q24 production was 33,215 boe/d with production in Colombia still impacted by downtime and blockades (we expected 34.6 mboe/d).

Auctus Advisors

GeoPark Limited (NYSE: GPRK): Strong Financials on Low Cash Tax.

2Q24 production of 35,608 boe/d had been already reported. Production in Brazil has not been restored yet and is expected to restart only at the...

Auctus Advisors

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