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>ADX Energy (ADX AU) C ; Target price of A$0.10 per share: Drilling news flow.</li><li>Production growth. Value. – 2023 is expected to be a busy and transformational year for ADX.</li><li>The company plans to grow gross production at Anshof (4.2 mmbbl net 2P reserves) to almost 1,000 bbl/d with two new wells by YE23. </li></ul>

ADX Energy (ADX AU) C ; Target price of A$0.10 per share: Drilling news flow.Production growth. Value. – 2023 is expected to be a busy and transformational year for ADX.The company plans to grow gross production at Anshof (4.2 mmbbl net 2P reserves) to almost 1,000 bbl/d with two new wells by YE23. 

Equity Bottom-Up

<ul><li>Tethys held US$41.5 mm in cash and no debt at YE22.</li><li>The most material sand is the Buah with ~100 mmbbl of prospective resources.</li><li>Tethys also plans to drill an exploration well in the Central Area of Block 56 in 3Q23 with 50 mmbbl prospective resources.</li></ul>

Tethys held US$41.5 mm in cash and no debt at YE22.The most material sand is the Buah with ~100 mmbbl of prospective resources.Tethys also plans to drill an exploration well in the Central Area of Block 56 in 3Q23 with 50 mmbbl prospective resources.

Tethys Oil AB (SSE: TETY): >US$40 mm in net cash

<ul><li>3Q22 production had been previously reported.</li><li>3Q22 cash flow from operations adjusted for working capital movement was ~US$27 mm, in line with our expectations.</li><li>As a result 4Q22 WI production is expected to be ~10 mbbl/d (we previously assumed ~ 11 mbbl/d) with the ambition of production growth to resume in 2023.</li></ul>

3Q22 production had been previously reported.3Q22 cash flow from operations adjusted for working capital movement was ~US$27 mm, in line with our expectations.As a result 4Q22 WI production is expected to be ~10 mbbl/d (we previously assumed ~ 11 mbbl/d) with the ambition of production growth to resume in 2023.

Tethys Oil AB (SSE: TETY): Production Growth to Resume in 2023.

Sweden

Lundin Energy AB operates as an exploration and production company. The Company discovers and develops oil and gas resources, with operations focused in Norway.

PT Soechi Lines Tbk operates as an integrated liquid and gas transportation services company for cargoes such as crude oil, fuel oil, liquefied chemicals, and liquefied petroleum gas. The Company owns and operates tankers, floating storage and offloading units. Soechi Lines also operates a shipyard constructing new-builds and performing maintenance and repairs.

Shell Pakistan Limited markets petroleum and petrochemical products. The Company also blends and markets different types of lubricating oils.

Mi Chang Oil Industrial Co., Ltd. refines, produces, and distributes lubricants used in industrial machinery, ships, and automobiles.  The Company also produces rubber processing oil for rubber products manufacturing and insulating oil for electrical properties.

Pancontinental Oil & Gas NL  a petroleum (oil and gas / hydrocarbon)  exploration company with key assets in Australia, Kenya and Namibia. The Company has high-percentage interests in a range of oil and gas targets in Australia and Africa.

JC Chemical Co., Ltd, manufactures biofuels including biodisel and other byproducts derived from bioenergy source.

Alligator Energy Ltd. is a uranium exploration company. The Company is focused on prospective, drill ready uranium targets on granted tenements in Australia's uranium province, the ARUP in the Northern Territory.

SUSCO Pcl distributes petroleum products including unleaded and regular gasoline and diesel oil through its gasoline filling stations and directly to large end-users.  Through its subsidiaries, the Company acts as an oil agent and offers marine freight transportation services.

E.A. Technique (M) Bhd owns and operates marine vessels focusing on marine transportation and offshore storage of oil and gas, and provision of port marine services. The Company also owns a shipyard involved in shipbuilding, ship repair and minor fabrication of steel structures.

KUB Malaysia Berhad is an investment holding company. Through its subsidiaries, the Company provides information technologies and telecommunication services, and provides online and conventional education. KUB Malaysia also bottles and trades liquefied petroleum gas, operates a chain of restaurants, develops and invests in property, and provides construction services.

Talon Energy Limited is an exploration company. The Company acquires, explores, and develops properties for petroleum resources. Talon Energy serves customers in the United States.

Tethys Oil AB explores for and develops oil and natural gas projects.  The Company's primary operations are within the European Union.

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

Tethys Oil (TETY SS)

Auctus on Friday - 17/03/2023

ADX Energy (ADX AU) C ; Target price of A$0.10 per share: Drilling news flow. Production growth. Value. – 2023 is expected to be a busy and...

Auctus Advisors

Tethys Oil AB (SSE: TETY): >US$40 mm in net cash

Tethys held US$41.5 mm in cash and no debt at YE22.The most material sand is the Buah with ~100 mmbbl of prospective resources.

Auctus Advisors

Tethys Oil AB (SSE: TETY): Production Growth to Resume in 2023.

3Q22 production had been previously reported. 3Q22 cash flow from operations adjusted for working capital movement was ~US$27 mm, in line with our...

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)