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>AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Key horizontal wells outperforms expectations – Arrow has now drilled 3 horizontal wells in Carrizales Norte.</li><li>The flow rates of the wells are exceeding our expectations.</li><li>The first CN horizontal well (CNB HZ-1) is being restricted to a current oil flow rate of 2,090 bbl/d with approximately 41% water cut.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Key horizontal wells outperforms expectations – Arrow has now drilled 3 horizontal wells in Carrizales Norte.The flow rates of the wells are exceeding our expectations.The first CN horizontal well (CNB HZ-1) is being restricted to a current oil flow rate of 2,090 bbl/d with approximately 41% water cut.

<ul>
<li>ADX Energy (ADX AU)C; target of A$0.75 per share: Reflections on Welchau – IIndependent consultants have calculated that each of the three reservoirs encountered at Welchau (Reifling - 128 metres, Steinalm -118 metres and the Guttenstein - 111 metres) are hydrocarbon bearing with uncertainty on the hydrocarbon type.</li>
<li>Laboratory work on the Steinalm reservoir has confirmed the full properties ofthe 43° API light sweet oil that was recovered in an MDT sample run in the Steinalm Formation.</li>
<li>The vertical extent of this light oil in the Steinalm or in the shallower Reifling and deeper Guttenstein is uncertain and there is no clear evidence of a hydrocarbon-water contact in any of the reservoir formations based on the open hole wireline log data.</li>
</ul>


ADX Energy (ADX AU)C; target of A$0.75 per share: Reflections on Welchau – IIndependent consultants have calculated that each of the three reservoirs encountered at Welchau (Reifling - 128 metres, Steinalm -118 metres and the Guttenstein - 111 metres) are hydrocarbon bearing with uncertainty on the hydrocarbon type.
Laboratory work on the Steinalm reservoir has confirmed the full properties ofthe 43° API light sweet oil that was recovered in an MDT sample run in the Steinalm Formation.
The vertical extent of this light oil in the Steinalm or in the shallower Reifling and deeper Guttenstein is uncertain and there is no clear evidence of a hydrocarbon-water contact in any of the reservoir formations based on the open hole wireline log data.


<ul>
<li>GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d.</li>
<li>The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement.</li>
<li>As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 mm for a total of US$500 mm, in prepaid future oil sales over the period of the offtake contract.</li>
</ul>


GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with Vitol for a minimum of 20 mbbl/d.
The agreement improves GeoPark’s price realizations by US$0.15/bbl vs the current agreement.
As part of this transaction, GeoPark will obtain immediate access to committed funding from Vitol for up to US$300 mm, with an option to increase by another US$200 mm for a total of US$500 mm, in prepaid future oil sales over the period of the offtake contract.


<ul>
<li>ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water.</li>
<li>The operation has been undertaken in line with expectations and within budget.</li>
<li>The oil production rate at Anshof-3 is 16% above the rate prior to shut-in.</li>
</ul>


ADX Energy (ADX AU)C; target price of A$1.00 per share: Restarting production at Anshof – The Permanent Production Facility (PPF), with a capacity of 3,000 bbl/d of liquids, has been commissioned and the Anshof-3 well has recommenced production at a rate of 134 bbl/d with no water.
The operation has been undertaken in line with expectations and within budget.
The oil production rate at Anshof-3 is 16% above the rate prior to shut-in.


Research from Water Tower Research, Water Tower Research

Water Tower Research

Research from Water Tower Research

Water Tower Research is a leading equity research firm that provides research on micro, small and mid cap companies.

Water Tower Research was founded by Wall Street veterans after witnessing a fundamental shift in the investment research industry with the result being a declining knowledge base among investors, a lack of awareness and a shrinking pool of fundamental research being conducted on companies across the small-cap and micro-cap spectrum. The same issues are now increasingly occurring in the mid-cap space. This sea change within the investment community is impacting not only the companies themselves but also current shareholders and potential investors. With significantly less active sell-side sponsorship by Wall Street, a substantial information gap has developed between companies and various constituents in the financial community. The net result is fewer channels for insight and information to flow between companies and investors.

Equity Research Firm

<ul><li>The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.</li><li>This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.</li><li>Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).</li></ul>

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the country’s oil &amp; gas industry.This report is the third in a three-part WTR Energy Focus series on Colombia. It follows Oil &amp; Gas Operators Guiding for Bottom-Up Growth… and Striking a Balance Between Energy Security and Fiscal Stability.Colombia’s natural gas demand will increase due to an energy transition and upstream operators with gas exposure realizing strong gas prices in an undersupplied market (as shown on right).

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

Canada

Parex Resources Inc. is an oil and gas exploration and production company. The Company owns interests in Colombia and Trinidad & Tobago.

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Parex Resources (PXT CN)

AUCTUS ON FRIDAY - 30/08/2024

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price £0.70 per share: Key horizontal wells...

Auctus Advisors

AUCTUS ON FRIDAY - 02/08/2024

ADX Energy (ADX AU)C; target of A$0.75 per share: Reflections on Welchau – IIndependent consultants have calculated that each of the three...

Auctus Advisors

AUCTUS ON FRIDAY - 10/05/2024

GeoPark (GPRK US)C; target price of US$26 per share: More favourable offtake contract in Colombia – GeoPark has signe da new offtake contract with...

Auctus Advisors

AUCTUS ON FRIDAY - 12/04/2024

ADX anticipates increasing production from the well to 150 bbl/d. No permanent staff will be required on the site, which should reduce opex.

Auctus Advisors

Energy Focus: Colombia Series (3 of 3) - The Path to Net Zero and Implications for Oil & Gas

The government of Colombia seeks to accelerate the country’s path toward net zero emissions, while investors question the implications for the...

Water Tower Research

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