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>• Current production stands at ~39 mboe/d including 7.1 mbbl/d at CPO-5 and 24.4 mboe/d at Llanos-34. • Following the recent exploration success at Toritos-1 and Saltador-1, Llanos-123 is now producing 2,140 bbl/d (1,070 bbl/d net to GeoPark).</li><li>The company is now drilling the Bisbita Centro exploration well that could add further production at the block if successful.</li></ul>

• Current production stands at ~39 mboe/d including 7.1 mbbl/d at CPO-5 and 24.4 mboe/d at Llanos-34. • Following the recent exploration success at Toritos-1 and Saltador-1, Llanos-123 is now producing 2,140 bbl/d (1,070 bbl/d net to GeoPark).The company is now drilling the Bisbita Centro exploration well that could add further production at the block if successful.

GeoPark Limited (NYSE: GPRK): 39 mboe/d current production. All eyes on Halcon-1

<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

<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

<ul><li>________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.</li><li>Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.</li><li>Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.</li></ul>

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.

<ul><li>________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by YE23 – ADX is expected to start drilling the Anshof-2 appraisal well in November.</li><li>Anshof is also estimated to hold 5.5 mmboe net 3C contingent resources (net to ADX).</li><li>We have changed our target price to A$0.80 per share as we incorporate the recently announced 10 for 1 share consolidation.</li></ul>

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by YE23 – ADX is expected to start drilling the Anshof-2 appraisal well in November.Anshof is also estimated to hold 5.5 mmboe net 3C contingent resources (net to ADX).We have changed our target price to A$0.80 per share as we incorporate the recently announced 10 for 1 share consolidation.

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.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Geopark Ltd (GPRK US)

GeoPark Limited (NYSE: GPRK): 39 mboe/d current production. All eyes on Halcon-1

• Current production stands at ~39 mboe/d including 7.1 mbbl/d at CPO-5 and 24.4 mboe/d at Llanos-34. • Following the recent exploration success...

Auctus Advisors

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 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 - 03/02/2023

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at...

Auctus Advisors

Auctus on Friday - 20/10/2023

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Two high impact wells to commence drilling by...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)