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>• The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia are now back online.</li><li>Each well is expected to reach 4,000 bbl/d gross production (8,000 bbl/d gross total, 2,400 bbl/d net to GeoPark).</li><li>The total gross production of both wells could reach 9,000 bbl/d by YE23.</li></ul>

• The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia are now back online.Each well is expected to reach 4,000 bbl/d gross production (8,000 bbl/d gross total, 2,400 bbl/d net to GeoPark).The total gross production of both wells could reach 9,000 bbl/d by YE23.

GeoPark Limited (NYSE: GPRK): CPO-5 wells back online. Multiple discoveries in Colombia and Ecuador

Senior Credit Analyst, Lucror Analytics

Leonard Law, CFA

Senior Credit Analyst

High Yield Experts

Lucror Analytics

Lucror Analytics is a leading credit and ESG research specialist and a provider of technology solutions for differentiated fixed income strategies. Our roots are in bottom-up fundamental credit analysis with a specialization in high yield corporate credits from Europe, Asia and Latin America. We are one of few research specialists integrating ESG considerations with fundamental credit research through a dedicated ESG platform. Our ESG assessment covers five key criteria: Disclosure, E,S, & G Pillars, Controversies, ESG Impact on Credit and ESG Momentum.

Recognizing the importance and value-add of Factor Investing in fixed income, Lucror developed the Smart Quant Navigator (SQN), an intuitive platform that helps clients devise and implement factor-based strategies ranging from pure quant to active fundamental, with integrated ESG.

Our company has been at the forefront of developments in the fixed income markets, identifying opportunities and consistently delivering new products and value-adding solutions to clients. Lucror has close relationships with the largest and most reputable asset managers, family offices, hedge funds, investment and wealth managers globally.

<p>Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).<br/> We view Geopark's ESG as "Adequate", in line with its Environmental, Social and Governance scores. Controversies are "Immaterial" and Disclosure is "Adequate".<br/></p>

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable).  We view Geopark's ESG as "Adequate", in line with its Environmental, Social and Governance scores. Controversies are "Immaterial" and Disclosure is "Adequate". 

<ul>
<li>ADX Energy (ADX AU)C; target price of A$0.08 per share: A high-quality industry partner in Austria to fund and accelerate Anshof development - ADX is farming out 30% WI in the Anshof discovery to MND.</li>
<li>MND will also fund ADX’s share of drilling and completion costs of A$3.9 mm per well (total of A$7.8 mm for two wells).</li>
<li>Kosmos Energy (KOS US/LN): 2Q23 results – 2Q23 net production was ~58 mboe/d.</li>
</ul>


ADX Energy (ADX AU)C; target price of A$0.08 per share: A high-quality industry partner in Austria to fund and accelerate Anshof development - ADX is farming out 30% WI in the Anshof discovery to MND.
MND will also fund ADX’s share of drilling and completion costs of A$3.9 mm per well (total of A$7.8 mm for two wells).
Kosmos Energy (KOS US/LN): 2Q23 results – 2Q23 net production was ~58 mboe/d.


<ul><li>• 2Q23 production of 36,581 boe/d and cash at the end of June had already been reported. • The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia continue to be expected to return to production in August.</li><li>The Vasconia discount in Colombia has now decreased to ~US$3.5/bbl but it was between US$8.4/bbl and U$5.9/bbl in 2Q23.</li></ul>

• 2Q23 production of 36,581 boe/d and cash at the end of June had already been reported. • The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia continue to be expected to return to production in August.The Vasconia discount in Colombia has now decreased to ~US$3.5/bbl but it was between US$8.4/bbl and U$5.9/bbl in 2Q23.

GeoPark Limited (NYSE: GPRK): Discoveries in Colombia and Ecuador. Important drilling results over coming quarters

Woodside Energy Group Ltd / Equity Bottom-Up

<ul><li>________________________________________ GeoPark (GPRK US)C; target price of US$25 per share: 2Q23 production in line.</li><li>Adding horizontal wells at Llanos-34 – 2Q23 production of 36,581 boe/d was in line with our expectations with strong performance at Llanos-34, Platanillo and CPO-5, offsetting lower production in Chile and Ecuador.</li><li>The company has re-iterated its FY23 production target of 38.0-40.0 mboe/d but the guidance is sensitive to the timing of production restart at Indico 6 and Indico 7.</li></ul>

________________________________________ GeoPark (GPRK US)C; target price of US$25 per share: 2Q23 production in line.Adding horizontal wells at Llanos-34 – 2Q23 production of 36,581 boe/d was in line with our expectations with strong performance at Llanos-34, Platanillo and CPO-5, offsetting lower production in Chile and Ecuador.The company has re-iterated its FY23 production target of 38.0-40.0 mboe/d but the guidance is sensitive to the timing of production restart at Indico 6 and Indico 7.

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): CPO-5 wells back online. Multiple discoveries in Colombia and Ecuador

• The Indico 6 and Indico 7 wells in the CPO-5 block in Colombia are now back online. Each well is expected to reach 4,000 bbl/d gross production...

Auctus Advisors

Geopark - ESG Report - Lucror Analytics

Lucror Analytics' ESG Scores are based on a 3-tiered scale and are adjusted for Controversies (if applicable). We view Geopark's ESG as...

Lucror Analytics

Auctus on Friday - 11/08/2023

A high-quality industry partner in Austria to fund and accelerate Anshof development - ADX is farming out 30% WI in the Anshof discovery to MND.

Auctus Advisors

GeoPark Limited (NYSE: GPRK): Discoveries in Colombia and Ecuador. Important drilling results over coming quarters

• 2Q23 production of 36,581 boe/d and cash at the end of June had already been reported. • The Indico 6 and Indico 7 wells in the CPO-5 block in...

Auctus Advisors

Auctus on Friday - 21/07/2023

________________________________________ GeoPark (GPRK US)C; target price of US$25 per share: 2Q23 production in line. Adding horizontal wells at...

Auctus Advisors

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