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>Southern is acquiring the remaining producing acreage (&gt;8,500 acres) in the Gwinville field it does not own from PetroTx Energy for US$3.2 mm in cash.</li><li>PetroTX will also be granted a minor overriding royalty over two of the acquired wells that were previously producing 0.4 mmcf/d.</li><li>The transaction adds 400 boe/d net production, 1.8 mmboe PDP reserves and 14.5 mmboe 2P reserves (+57% versus the YE22 2P reserves of 25.5 mmboe) in the Selma Chalk to Southern with 20+ new drilling locations.</li></ul>

Southern is acquiring the remaining producing acreage (&gt;8,500 acres) in the Gwinville field it does not own from PetroTx Energy for US$3.2 mm in cash.PetroTX will also be granted a minor overriding royalty over two of the acquired wells that were previously producing 0.4 mmcf/d.The transaction adds 400 boe/d net production, 1.8 mmboe PDP reserves and 14.5 mmboe 2P reserves (+57% versus the YE22 2P reserves of 25.5 mmboe) in the Selma Chalk to Southern with 20+ new drilling locations.

South Energy Corp. - Taking Advantage of Low Gas Price to Make an Accretive Acquisition

<ul><li>There were no surprises in the FY22 financials with production, cashflow and working capital very close to our expectations.</li><li>The 18-10 #2 Upper Selma Chalk well that was completed in 1Q23 is performing in line with expectations.</li><li>Peak gas rates are not expected until the load fluid recovery is closer to 20%, which is expected towards the end of 2Q23.</li></ul>

There were no surprises in the FY22 financials with production, cashflow and working capital very close to our expectations.The 18-10 #2 Upper Selma Chalk well that was completed in 1Q23 is performing in line with expectations.Peak gas rates are not expected until the load fluid recovery is closer to 20%, which is expected towards the end of 2Q23.

South Energy Corp. - FY22 Financials in Line. Operations on Track

Canada

Sunshine Oilsands Ltd. explores for oil.  The Company operates on the West Ellis, Thickwood, Legend Lake, Muskwa and Harper properties in the Athabasca oil sands region in Canada.

Centaurus Energy Inc. operates as an upstream oil and gas company. The Company explores, develops, and produces crude oil, natural gas liquids, and natural gas. Centaurus Energy serves customers in Canada.

Niko Resources Ltd. is an international oil and gas exploration and development company.  The Company operates in Bangladesh, India, Indonesia, Kurdistan, Madagascar, Pakistan & Trinidad and Tobago.

Canacol Energy Limited is an international junior energy company with production and exploration operations located in South America. The Company's operations are focused in Colombia, with operations also in Ecuador.

Bonterra Energy Corp. is an oil and gas exploration company operating in the Western Canadian Sedimentary Basin. The Company's core areas of operations are in Alberta, Saskatchewan and British Columbia.

Gran Tierra Energy, Inc. is an international oil and gas exploration and production company. The Company operates in South America.

Crew Energy Inc. acquires, explores, and develops oil and natural gas properties.  The Company is currently producing natural gas and light oil and liquids in Alberta and Saskatchewan, both located in Canada.

Frontera Energy Corporation provides oilfield services. The Company explores, develops, and produces crude oil and natural gas. Frontera Energy serves customers worldwide.

Kelt Exploration Ltd is an oil and gas exploration and production company.  The Company owns properties at Grande Cache, Alberta; Inga, British Columbia; and Karr, Alberta.

Fission Uranium Corp. is a Canadian based resource company specializing in the strategic acquisition, exploration and development of uranium properties.

Global Oil & Gas Limited provides exploration services for oil and gas sectors. The Company specializes in identification, exploration, and development of energy and resource assets. Global Oil & Gas operates worldwide.

Feishang Anthracite Resources Limited produces anthracite coal. The Company is engaged in the acquisition, construction and development of anthracite coal mines and the extraction and sale of anthracite coal.

Ouhua Energy Holdings Ltd. imports, processes, and wholesales liquefied petroleum gas.

Chinese People Holdings Co Limited, through its subsidiaries, supplies natural gas and provides gas pipeline connection service.  The Company also manufactures and sells glass products, and invests in properties.

Red Sky Energy Limited is an oil and gas exploration and production company. The Company explores for oil and gas in the Cooper basin in Australia.

Cauldron Energy Ltd. explores for uranium in Australia and Argentina.

Triangle Energy (Global) Limited is an oil and gas exploration and production company. The Company owns and operates assets in Indonesia and Australia.

Pilot Energy Ltd operates as a oil and exploration company. The Company acquires, explores, and produces crude oil and natural gas. Pilot Energy serves customers in Australia.

Central Petroleum Ltd. explores for and produces oil and natural gas, and operates pipelines.  The Company operates throughout Australia.

Everest Metals Corporation Ltd operates as a metal exploration company. The Company explores for base and precious metals. Everest Metals serves customers in Australia and Northern Territory.

Southern Energy Corp. operates as an oil and natural gas exploration and production company. The Company focuses on developing conventional and unconventional light oil and liquids rich natural gas resources. Southern Energy serves customers in Canada and the United States.

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Southern Energy Corp (SOUC LN)

South Energy Corp. - Taking Advantage of Low Gas Price to Make an Accretive Acquisition

Southern is acquiring the remaining producing acreage (>8,500 acres) in the Gwinville field it does not own from PetroTx Energy for US$3.2 mm in cash.

Auctus Advisors

South Energy Corp. - FY22 Financials in Line. Operations on Track

There were no surprises in the FY22 financials with production, cashflow and working capital very close to our expectations.

Auctus Advisors

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