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>2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. </li>
<li>Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.</li>
<li>This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then).</li>
</ul>


2023 production to date was 43,781 boe/d. very close to our expectations of 44.3 mboe/d. 
Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.
This partially offsets the low production in May at the Triton Hub following a trip of a compressor that shut down production for three weeks (the production at Triton has been restored since then).


Serica Energy Plc (AIM: SQZ): Operations on Track. High Net Cash.

<ul>
<li>Serica Energy is a ~US800 mm market cap company with &gt;40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.</li>
<li>The investment case is about value and generous shareholder distributions.</li>
<li>The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&amp;A.</li>
</ul>


Serica Energy is a ~US800 mm market cap company with &gt;40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.
The investment case is about value and generous shareholder distributions.
The strategy is to maximize the value of two key producing hubs, depending on the UK’s tax policy, to develop a third one at Buchan Horst and to grow via M&amp;A.


Serica Energy Plc (AIM: SQZ): Initiating Coverage

United Kingdom

Tullow Oil plc explores for and produces oil and gas. The Group's assets are in Africa, Europe, South America and Asia.

Genel Energy PLC  specializes in investing in oil and natural gas assets. The Company has stakes in producing oil fields, a gas condensate discovery and exploration acreage, all in the Kurdistan Region of Iraq.

Savannah Energy PLC is a leading African focused British independent energy company with current operations in Nigeria and Niger, where the Company is sustainably developing high-quality and high-growth projects.

Gulf Keystone Petroleum Limited is an independent oil company. The Company operates Shaikan Field, one of the largest developments in the Kurdistan Region of Iraq.

Pantheon Resources plc, through its subsidiaries, explores and produces oil and gas in the United States. The company owns a 50% working interest in four projects located in Tyler and Polk counties, East Texas. It also holds a 25% working interest in a project in Polk County, East Texas. The company was founded in 2005 and is headquartered in London, the United Kingdom.

Hargreaves Services plc sources, produces, processes, handles, and transports carbon-based and other bulk materials in the United Kingdom and Europe. It operates in three segments: Coal Production and Distribution, Industrial Services, and Transport. The Coal Production and Distribution segment provides coal, coke, minerals, smokeless fuel, and biomass products to a range of industrial, wholesale, and public sector energy consumers. The Industrial Services segment offers contract management services to the power generation, utilities, chemicals, minerals, and steel industries. The Transport segment provides bulk logistic services. The company owns or operates nine surface coal mines, including seven in Scotland; one in Wales; and one in England, as well as four port terminals. In addition, it engages in the steel services business in South Africa; operates a fleet of 450-strong HGV trucks; haulage, mineral import, and processing; smokeless fuel briquette manufacturing; and wind and renewable energy business, as well as provides engineering maintenance services. Hargreaves Services plc was founded in 1994 and is based in Durham, the United Kingdom.

James Fisher & Sons P.L.C. is an ocean shipping company. The Company's operations include shipowning, ship management, chartering, freight forwarding, and insurance consulting.  Fisher also operates as ships' agency, in shipbroking, contracting, stevedoring, transport, port operations, and warehousing. The Company operates in the United Kingdom.

Hurricane Energy plc, together with its subsidiaries, engages in the exploration of oil and gas properties in the United Kingdom. The company holds interests in Lancaster basement discovery, Whirlwind basement discovery, Lincoln basement, Typhoon basement, Warwick basement, and Strathmore sandstone discovery prospects located to the West of Shetland. It has 100% interest in 450 million barrels of 2C contingent resources. The company was formerly known as Hurricane Exploration plc and changed its name to Hurricane Energy plc in April 2013. Hurricane Energy plc was founded in 2005 and is headquartered in Godalming, the 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.

Rockhopper Exploration Plc operates as an oil and gas exploration and production company in the United Kingdom. It engages in the exploration and exploitation of its oil and gas acreage primarily in the North Falkland Basin and the Greater Mediterranean region. It holds 95.50% interests in the PL003a production licenses; 60.50% interests in PL003b production licenses; 64.00% interests in PL004a, PL004b, and PL004c production licenses; 100% interests in PL005 production licenses; and 40% interests in PL032 and PL033 production licenses. The company also holds a portfolio of production and exploration interests in Italy, Malta, and Croatia. Rockhopper Exploration Plc was founded in 2004 and headquartered in Salisbury, the United Kingdom.

Nordic American Tankers Limited is a shipping company that owns and charters Suezmax tankers for oil transportation.  The Company's ships are all active in the spot freight market.

Henan Dayou Energy Co., Ltd. engages in the exploitation and distribution of coal in China. The company, through its subsidiaries, is also involved in the production and sale of mining equipment and accessories, as well as the provision of consulting services of coal mine technologies.

Teekay Corporation provides international crude oil and petroleum product transportation services to major oil companies, major oil traders, and government agencies.  The Company provides its services through a fleet of medium size oil tankers worldwide.

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.

PT ABM Investama Tbk invests in energy resources, energy services and energy infrastructure.  Through subsidiaries, the Company mines coal; offers mining services; offers logistics and warehousing services; generates electricity; and manufactures equipment for the mining, oil and natural gas, electricity generation, and transportation industries.

MITSUUROKO GROUP HOLDINGS CO., LTD. wholesales a variety of fuel products such as liquefied petroleum gas, coal, and briquettes products.  The Company also sells gas appliances and oil-heating equipment.  MITSUUROKO operates office leasing business as well.

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

Rain Industries Limited engages in the production of cement and other related products. The Company manufactures and markets cement, calcined petroleum coke, coal tar pitch, and specialty chemicals.

PT Baramulti Suksessarana Tbk is a coal mining company in Kalimatan.

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.

Serica Energy PLC explores for and extracts oil and natural gas.  The Company operates primarily in the United Kingdom and Indonesia.

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

Serica Energy (SQZ LN)

Serica Energy Plc (AIM: SQZ): Operations on Track. High Net Cash.

Production in June at the Bruce Hub of 25,771 boe/d was particularly strong following the recent Light Well Intervention Vessel campaign.

Auctus Advisors

Serica Energy Plc (AIM: SQZ): Initiating Coverage

Serica Energy is a ~US800 mm market cap company with >40 mboe/d production and 140 mmboe of 2P reserves in the UK North Sea.

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)