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 FY24 production guidance stands at 16.5-17.5 mbbl/d (we forecasted 18.6 mbbl/d assuming a moderate dry season) with US$135 mm capex (broadly in line with our expectations of US$130 mm).</li>
<li>The FY24 production guidance assumes a dry season as severe as in 2023 with production of only 13 mbbl/d in 3Q24 and 17.5 mbbl/d in 4Q24.</li>
<li>The Ecuador export route through the OCP will be operational in October (2 mbbl/d) while a new route via Yurimaguas to Bayovar (2 mbbl/d) could be operational in July.</li>
</ul>


The FY24 production guidance stands at 16.5-17.5 mbbl/d (we forecasted 18.6 mbbl/d assuming a moderate dry season) with US$135 mm capex (broadly in line with our expectations of US$130 mm).
The FY24 production guidance assumes a dry season as severe as in 2023 with production of only 13 mbbl/d in 3Q24 and 17.5 mbbl/d in 4Q24.
The Ecuador export route through the OCP will be operational in October (2 mbbl/d) while a new route via Yurimaguas to Bayovar (2 mbbl/d) could be operational in July.


PetroTal Corp (AIM: PTAL): FY24 Production Expected to Grow by 20%.

<ul>
<li>Production continues to be impacted by the reduced barge movements to/from Brazil during the low river dry season.</li>
<li>Production in August was 12,651 bbl/d, in line with previous indications (~13 mbbl/d).</li>
<li>Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase production and eliminate the production constraint during the dry season when the Amazon river water level is low.</li>
</ul>


Production continues to be impacted by the reduced barge movements to/from Brazil during the low river dry season.
Production in August was 12,651 bbl/d, in line with previous indications (~13 mbbl/d).
Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase production and eliminate the production constraint during the dry season when the Amazon river water level is low.


PetroTal Corp (AIM: PTAL): Lower level of production in 3Q23 in line with our expectations

<ul>
<li>2Q23 production, net debt and working capital at the end of June had already been reported.</li>
<li>The dry season has started, resulting in low river levels, which constrains barging sales. Production in July was 11,552 bbl/d increasing to 13 mbbl/d in August.</li>
<li>The company has re-iterated its FY23 production guidance of 14-15 mbbl/d.</li>
</ul>


2Q23 production, net debt and working capital at the end of June had already been reported.
The dry season has started, resulting in low river levels, which constrains barging sales. Production in July was 11,552 bbl/d increasing to 13 mbbl/d in August.
The company has re-iterated its FY23 production guidance of 14-15 mbbl/d.


PetroTal Corp (AIM: PTAL): Boosting 2Q23 Dividend Distribution.

<ul>
<li>2Q23 production was 19,031 bbl/d.</li>
<li>This is higher than our forecast (18.5 mbbl/d) and the company’s recently increased 2Q23 guidance (5% higher than 17 mbbl/d).</li>
<li>During the quarter, production was affected by the ongoing ONP closure and six days of planned maintenance, which constrained production by ~25%.</li>
</ul>


2Q23 production was 19,031 bbl/d.
This is higher than our forecast (18.5 mbbl/d) and the company’s recently increased 2Q23 guidance (5% higher than 17 mbbl/d).
During the quarter, production was affected by the ongoing ONP closure and six days of planned maintenance, which constrained production by ~25%.


PetroTal Corp (AIM: PTAL): High production

<ul>
<li>The Indigenous Association for Development and Conservation of Bajo Puinahua (AIDECOBAP) has removed the illegal river blockade.</li>
<li>AIDECOBAP has also released the Peruvian and Brazilian oil convoys.</li>
<li>More on the blockade resolution In return for lifting the blockade, AIDECOBAP signed an alliance act with the Regional Governor, Perupetro and Puinahua’s District Municipality.</li>
</ul>


The Indigenous Association for Development and Conservation of Bajo Puinahua (AIDECOBAP) has removed the illegal river blockade.
AIDECOBAP has also released the Peruvian and Brazilian oil convoys.
More on the blockade resolution In return for lifting the blockade, AIDECOBAP signed an alliance act with the Regional Governor, Perupetro and Puinahua’s District Municipality.


PetroTal Corp (AIM: PTAL): River blockade lifted. 22 mbbl/d production

United States

Erin Energy Corporation operates as an independent oil and gas exploration and production company. The Company offers crude oil, natural gas, and other oil products. Erin Energy owns a portfolio of onshore and offshore assets in the United States, Nigeria, Kenya, Gambia, South Africa, and Ghana.

SandRidge Energy, Inc. explores and produces natural gas and crude oil. The Company owns and operates gas gathering, processing facilities, carbon dioxide treating, and transportation facilities. SandRidge Energy serves customers in the United States.

Clean Energy Fuels Corporation designs, builds, finances and operates natural gas filling stations for vehicle fleets.  The Company also helps its customers acquire and finance natural gas vehicles and obtain local, state, and federal clean air rebates and incentives.

Excelerate Energy, Inc. operates as an oil and natural gas company. The Company offers flexible liquefied natural gas sales and distribution solutions, as well as provides LNG terminal services. Excelerate Energy serves customers worldwide.

Tellurian Inc. develops low-cost liquefied natural gas projects. The Company owns and operates natural gas liquefaction and storage facilities and loading terminals. Tellurian serves customers worldwide.

Overseas Shipholding Group, Inc. provides ocean transportation services for crude oil and refined petroleum products. The Company delivers crude oil, petroleum products, and liquefied natural gas throughout the world. Overseas Shipholding Group owns and operates a fleet of vessels registered internationally.

Ur-Energy, Inc. explores for uranium.  The Company operates in Nunavut in Canada and Wyoming in the United States.

Ring Energy Inc is an independent oil and gas exploration company with headquarters in Midland, Texas. The Company's business strategy is focused on the exploration, development and acquisition of oil and natural gas properties in the Permian and Mid-Continent regions of the United States.

W&T Offshore, Inc. is an independent oil and natural gas company focused primarily on the Gulf of Mexico area in the United States.

NGL Energy Partners LP serves as a full service midstream provider. The Company's operations focus on crude oil logistics, water treatment services, NGL logistics and retail propane. NGL Energy Partners operates in the United States.

PT Indika Energy Tbk is an energy company. The Company provides energy services, energy resources and infrastructure, primarily in the areas of coal production, engineering, procurement and construction services and power generation services.

Petron Corporation refines crude oil and sells a full range of petroleum products. The Company transports its products by sea, using tankers and barges. Petron also retails gasoline, diesel, and kerosene to motorists, public transportation operators and households through its service stations. Petro also provides insurance & reinsurance service and leases property.

Energy Absolute Public Company Limited engages in the research, development, and production of biodiesel products in Thailand.

Pakistan Oil Fields Limited specializes in the exploration, drilling, production and transmission of petroleum.  The Company also markets Liquified Petroleum Gas (LPG).

China Aviation Oil Singapore Corporation Limited supplies jet fuel to foreign and domestic airlines flying through China's airports.  The Company also trades in other oil products such as fuel oil, gas oil, crude oil, petrochemical products, including physical and paper swaps, and futures trading.

China Aviation Oil Singapore Corp (CAO SP)

Energy Resources of Australia Limited is a uranium company which mines, processes and sells uranium oxide from the Ranger mine in the Northern Territory and uranium concentrates sourced outside Australia to nuclear electric utilities in Japan, South Korea, Europe and North America.  The Company also provides environmental consulting services.

Productive Technologies Company Limited provides productivity solutions to semiconductor and solar cell manufacturers. The Company is engaged in advanced manufacturing of equipment applied in semiconductor and solar power businesses, as well as operates a crude oil asset. Productive Technologies serves customers in China.

Zhengzhou Coal Industry & Electric Power Co., Ltd. (ZCE) produces and markets coal.  The Company also generates and distributes electric power.

Hibiscus Petroleum Berhad is an independent upstream exploration and production company that explores for oil and gas. The Company has operations in the Middle East, Norway and Oceania regions.

Exmar NV transports gases.  The Company primarily transports liquefied natural gas (LNG), and liquefied petroleum gases (LPG) including propane, butane, and anhydrous ammonia.  Exmar produces LNG in Asia, the Middle East, and the Caribbean.  The Company also offers offshore services.

PetroTal Corp. operates as an oil and gas development and production company. The Company focuses on acquisition, development, and exploration of material oil assets. PetroTal serves customers in North and South America. ... More

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PetroTal (PTAL LN)

PetroTal Corp (AIM: PTAL): FY24 Production Expected to Grow by 20%.

he FY24 production guidance assumes a dry season as severe as in 2023 with production of only 13 mbbl/d in 3Q24 and 17.5 mbbl/d in 4Q24.

Auctus Advisors

PetroTal Corp (AIM: PTAL): Lower level of production in 3Q23 in line with our expectations

Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase production and eliminate the...

Auctus Advisors

PetroTal Corp (AIM: PTAL): Boosting 2Q23 Dividend Distribution.

he dry season has started, resulting in low river levels, which constrains barging sales. Production in July was 11,552 bbl/d increasing to 13 mbbl...

Auctus Advisors

PetroTal Corp (AIM: PTAL): High production

2Q23 production was 19,031 bbl/d. This is higher than our forecast (18.5 mbbl/d) and the company’s recently increased 2Q23 guidance (5% higher...

Auctus Advisors

PetroTal Corp (AIM: PTAL): River blockade lifted. 22 mbbl/d production

The Indigenous Association for Development and Conservation of Bajo Puinahua (AIDECOBAP) has removed the illegal river blockade.

Auctus Advisors

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