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>AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation.</li><li>Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.</li><li>Gas was initially observed at surface.</li></ul>

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small interval in Welchau deeper formation.Continuing well test up hole – Two intervals in the Steinalm formation (1452.5 m-1463.5 m and 1474.5 m-1480 m MD) were tested at a stable rate (natural flow) of 240-290 bbl/d of drilling mud, likely contaminated formation water and some oil traces.Gas was initially observed at surface.

<ul>
<li>ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.</li>
<li>This represents 356 m of gross interval across three interpreted lithological sequences.</li>
<li>This compares with only 115 m of liquids-rich gas shows announced previously.</li>
</ul>


ADX Energy (ADX AU)C; target price of A$1.00 per share: Logging results at Welchau further derisk the discovery – The logging program has confirmed open fracture networks and vuggy porosity (matrix porosity) essential for well productivity coincident with hydrocarbon shows between 1346 m and 1702 m measured depth.
This represents 356 m of gross interval across three interpreted lithological sequences.
This compares with only 115 m of liquids-rich gas shows announced previously.


<ul>
<li>ADX Energy (ADX AU) C ; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications).</li>
<li>Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility.</li>
<li>ADX held ~A$8 mm in cash as at YE23. Drilling at the high impact Welchau-1 well targeting between 365 bcf and 1,128 bcf gross prospective resources is expected to commence in February. </li>
</ul>


ADX Energy (ADX AU) C ; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to production during the quarter (in line with previous indications).
Commercial production at Anshof is expected to restart in March after the commissioning of a permanent production facility.
ADX held ~A$8 mm in cash as at YE23. Drilling at the high impact Welchau-1 well targeting between 365 bcf and 1,128 bcf gross prospective resources is expected to commence in February. 


Equity Bottom-Up

<ul><li>________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.</li><li>Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.</li><li>Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.</li></ul>

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at Anshof-2 has started.Arrow Exploration (AXL LN/CN)C; target price of £0.55 per share: High flow and a new discovery at RCE-6.Re-iterating FY23 guidance - 3Q23 production of 19,961 bbl/d and net cash at the end of September of ~US$103 mm had already been announced.

<ul>
<li>Arrow Exploration (AXL LN)C; target price of £0.50 per share: CN-1 well in production at 1 mbbl/d from the C7 sands – The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1.1 mbbl/d (550 bbl/d net to Arrow).</li>
<li>During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.</li>
<li>The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).</li>
</ul>


Arrow Exploration (AXL LN)C; target price of £0.50 per share: CN-1 well in production at 1 mbbl/d from the C7 sands – The C7 formation (~26 feet of net oil pay) in the Carrizales Norte-1 well (CN-1) is now in production at a rate of 1.1 mbbl/d (550 bbl/d net to Arrow).
During the flow test, the sands flowed at a peak rate of 1,272 bbl/d.
The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).


United Kingdom

The Parkmead Group plc, an independent oil and gas company, engages in the exploration and production of oil and gas properties. It holds interests in 48 exploration and production blocks; and produces approximately 5,000 barrels of oil equivalent per day. The company also provides energy sector economics, valuation, and benchmarking services, as well as advises on energy policies and fiscal matters, and undertakes economic evaluations; and benchmarking and training services. It has operations in Europe, North America, and internationally. The Parkmead Group plc was incorporated in 2000 and is headquartered in Aberdeen, the United Kingdom.

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

The Parkmead (PMG LN)

AUCTUS ON FRIDAY - 29/11/2024

AUCTUS PUBLICATIONS ________________________________________ ADX Energy (ADX AU)C; Target price of NOK51 per share: Water inflow from a small...

Auctus Advisors

AUCTUS ON FRIDAY - 28/03/2024

This represents 356 m of gross interval across three interpreted lithological sequences. This compares with only 115 m of liquids-rich gas shows...

Auctus Advisors

Auctus on Friday - 02/02/2024

ADX Energy (ADX AU) C ; target price of A$0.65 per share: Operations on track – 4Q23 production was 218 boe/d as Anshof did not contribute to...

Auctus Advisors

Auctus on Friday - 03/02/2023

________________________________________ ADX Energy (ADX AU)C; target price of A$0.80 per share: Drilling commences at Anshof-2 – Drilling at...

Auctus Advisors

Auctus on Friday - 23/06/2023

The flow rate achieved at the C7 sands is addition to the rate from the deeper Ubaque formation (1,600 bbl/d gross, 800 bbl/d net).

Auctus Advisors

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)