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>FY22 production was 7,166 boe/d and within guidance (6,350-7,800 boe/d).</li><li>The FY23 production guidance in Vietnam is lower than we expected (6.8 mboe/d) as initial production from the two recently drilled wells has been below expectations (2 mbbl/d vs 3 mbbl/d).</li><li>The FY23 production guidance in Egypt is also lower than expected as 2H22 production was impacted by limited drilling activity due to a technical problem with a rig, resulting in a lower production starting point at 2023.</li></ul>

FY22 production was 7,166 boe/d and within guidance (6,350-7,800 boe/d).The FY23 production guidance in Vietnam is lower than we expected (6.8 mboe/d) as initial production from the two recently drilled wells has been below expectations (2 mbbl/d vs 3 mbbl/d).The FY23 production guidance in Egypt is also lower than expected as 2H22 production was impacted by limited drilling activity due to a technical problem with a rig, resulting in a lower production starting point at 2023.

Pharos Energy Plc : FY22 Production in Line

United Kingdom

Pharos Energy PLC is an independent oil and gas exploration and production company. The Company focuses on growth and returns to stakeholders, headquartered in London and listed on the London Stock Exchange. Pharos Energy has production, development, and exploration interests in Egypt, Israel, and Vietnam.

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Pharos Energy (PHAR LN)

Pharos Energy Plc : FY22 Production in Line

The FY23 production guidance in Vietnam is lower than we expected (6.8 mboe/d) as initial production from the two recently drilled wells has been...

Auctus Advisors

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