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>GeoPark (GPRK US)C; target price of US$24 per share: Further exploration success in Colombia – The Perico-1 exploration well at CPO-5 encountered hydrocarbons in the Barco (Guadalupe) formation.</li>
<li>The Halcon-1 well at CPO-5 that also encountered potential hydrocarbons in the Guadalupe flowed at intermittent rates.</li>
<li>Pharos Energy (PHAR LN)C; target price of £0.50 per share: Reducing net debt by a further US$10 mm – FY23 production was 6,508 boe/d, which is the middle of the production guidance of 6.35-6.75 mboe/d.</li>
</ul>


GeoPark (GPRK US)C; target price of US$24 per share: Further exploration success in Colombia – The Perico-1 exploration well at CPO-5 encountered hydrocarbons in the Barco (Guadalupe) formation.
The Halcon-1 well at CPO-5 that also encountered potential hydrocarbons in the Guadalupe flowed at intermittent rates.
Pharos Energy (PHAR LN)C; target price of £0.50 per share: Reducing net debt by a further US$10 mm – FY23 production was 6,508 boe/d, which is the middle of the production guidance of 6.35-6.75 mboe/d.


Equity Bottom-Up

<ul>
<li>Calima Energy (CE1 AU); target price of A$0.45 per share: Operating update in Canada – The 3-well Pisces drilling programme has now been completed.</li>
<li>3Q23 production levels continue to be affected by weather related energy cuts and unforeseen work-overs.</li>
<li>Valeura Energy (VLE CN)C; target price of C$6.40 per share: 3Q23 update – 3Q23 production was 19,961 boe/d.</li>
</ul>


Calima Energy (CE1 AU); target price of A$0.45 per share: Operating update in Canada – The 3-well Pisces drilling programme has now been completed.
3Q23 production levels continue to be affected by weather related energy cuts and unforeseen work-overs.
Valeura Energy (VLE CN)C; target price of C$6.40 per share: 3Q23 update – 3Q23 production was 19,961 boe/d.


<ul>
<li>ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.</li>
<li>This was a key condition precedent to completing the transaction.</li>
<li>The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. </li>
</ul>


ADX Energy (ADX AU)C : target price of A$0.08 per share: Transaction with MND receives Austrian Ministerial acceptance – ADX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.
This was a key condition precedent to completing the transaction.
The transaction will provide funding for the drilling of key wells at Anshof that are expected to add reserves and production. 


<ul>
<li>Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: CN-2 flows at up to 1 mbbl/d.</li>
<li>Focusing on developping the Ubaque at Carrizales Norte - The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation.</li>
<li>Eni (ENI IM): 2Q23 results – 2Q23 adjusted net earnings were Eur1.9 bn with 1,611 mboe/d production.</li>
</ul>


Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: CN-2 flows at up to 1 mbbl/d.
Focusing on developping the Ubaque at Carrizales Norte - The Carrizales Norte-2 well (CN-2) encountered 60’ of net pay in the Ubaque formation.
Eni (ENI IM): 2Q23 results – 2Q23 adjusted net earnings were Eur1.9 bn with 1,611 mboe/d production.


<ul><li>ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d.</li><li>Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.</li><li>Seplat Energy (SEPL LN): 1Q23 results – 1Q23 WI production in Nigeria was 51,720 boe/d.</li></ul>

ADX Energy (ADX AU)C: Target price of A$0.100 per share: 1Q23 update – 1Q23 production in Austria was 299 boe/d.Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.Seplat Energy (SEPL LN): 1Q23 results – 1Q23 WI production in Nigeria was 51,720 boe/d.

Spain

Repsol S.A., through subsidiaries, explores for and produces crude oil and natural gas, refines petroleum, and transports petroleum products and liquefied petroleum gas (LPG).  The Company retails gasoline and other products through its chain of gasoline filling stations.  Repsol's petroleum reserves are in Spain, Latin America, Asia, North Africa, and the Middle East and United States.

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Repsol SA (REP SM)

Auctus on Friday - 19/01/2024

GeoPark (GPRK US)C; target price of US$24 per share: Further exploration success in Colombia – The Perico-1 exploration well at CPO-5 encountered...

Auctus Advisors

Auctus on Friday - 06/10/2023

Calima Energy (CE1 AU); target price of A$0.45 per share: Operating update in Canada – The 3-well Pisces drilling programme has now been completed.

Auctus Advisors

Auctus on Friday - 08/09/2023

DX has received clearance from the ministry of finance in Austria for the partnership documentation between ADX, MND and Xstate Resources.

Auctus Advisors

Auctus on Friday - 28/07/2023

Arrow Exploration (AXL LN/CN)C; target price of £0.50 per share: CN-2 flows at up to 1 mbbl/d. Focusing on developping the Ubaque at Carrizales Norte

Auctus Advisors

Auctus on Friday - 28/04/2023

Criterium Energy (CEQ CN)C: On track for near term acquisition – The FY22 financials were in line with our expectations.

Auctus Advisors

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