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>Valeura continues to execute on its acquisition strategy in Thailand.</li><li>Valeura Energy Asia (85% owned by Valeura) is acquiring 3 shallow water licences in the Gulf of Thailand with total net oil production of 21.2 mbbl/d and net 2P reserves of mmbbl (at YE21) from Mubadala Energy for just US$10.4 mm in cash. </li><li>With 25 mbbl/d production by YE22, Valeura is set to become one of the larger international producers listed on the TSX.</li></ul>

Valeura continues to execute on its acquisition strategy in Thailand.Valeura Energy Asia (85% owned by Valeura) is acquiring 3 shallow water licences in the Gulf of Thailand with total net oil production of 21.2 mbbl/d and net 2P reserves of mmbbl (at YE21) from Mubadala Energy for just US$10.4 mm in cash. With 25 mbbl/d production by YE22, Valeura is set to become one of the larger international producers listed on the TSX.

Valeura Energy (TSX: VLE): Transaction in Thailand with a “wow” Factor

Woodside Energy Group Ltd / Equity Bottom-Up

<ul><li>ADX Energy (HHR AU)C; Target price of AS0.07 per share: Farm-in transaction at Welchau provides validation for the prospect – Kepis &amp; Pobe Financial Group (KPFG) is acquiring 20% in the Welchau Farmin Area in return for funding 50% of the cost of the exploration well (EUR3.8 mm gross).</li><li>KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).</li><li>Block Energy (BOE LN): SLB not exercising option – SLB will not exercise its right to acquire 108 mm shares in Block Energy.</li></ul>

ADX Energy (HHR AU)C; Target price of AS0.07 per share: Farm-in transaction at Welchau provides validation for the prospect – Kepis &amp; Pobe Financial Group (KPFG) is acquiring 20% in the Welchau Farmin Area in return for funding 50% of the cost of the exploration well (EUR3.8 mm gross).KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).Block Energy (BOE LN): SLB not exercising option – SLB will not exercise its right to acquire 108 mm shares in Block Energy.

Thematic (Sector/Industry)

<ul><li>Panoro Energy (PEN NO)C; Target price of NOK50 per share: Dry hole in South Africa – The Gazania- 1 well did not encounter hydrocarbons.</li><li>Panoro, Africa Energy (AFE CN/AEC SS) and Eco Atlantic (ECO LN/EOG CN) hold respectively 12.5%, 27.5% and 50% WI in the well.</li><li>Neptune Energy (EQNR NO): 3Q22 results – 3Q22 production was 133.7 mboe/d.</li></ul>

Panoro Energy (PEN NO)C; Target price of NOK50 per share: Dry hole in South Africa – The Gazania- 1 well did not encounter hydrocarbons.Panoro, Africa Energy (AFE CN/AEC SS) and Eco Atlantic (ECO LN/EOG CN) hold respectively 12.5%, 27.5% and 50% WI in the well.Neptune Energy (EQNR NO): 3Q22 results – 3Q22 production was 133.7 mboe/d.

<ul><li>Valeura has submitted the engineering reports to support the recertification of the Wassana MOPU.</li><li>Valeura and PT Buana Lingas Lautan have entered a Letter of Award for the MT Vula FSO tanker.</li><li>Valeura anticipates that the FSO will mobilise to the Wassana field by YE22.</li></ul>

Valeura has submitted the engineering reports to support the recertification of the Wassana MOPU.Valeura and PT Buana Lingas Lautan have entered a Letter of Award for the MT Vula FSO tanker.Valeura anticipates that the FSO will mobilise to the Wassana field by YE22.

Valeura Energy (TSX: VLE): One Step Closer to First Oil in Thailand

Canada

Valeura Energy Inc. operates as an exploration company. The Company engages in the development and production of petroleum and natural gas. Valeura Energy focuses on growing its resource base and production in the Thrace Basin in Northwest Turkey.

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Valeura Energy Inc (VLE CN)

Valeura Energy (TSX: VLE): Transaction in Thailand with a “wow” Factor

Valeura Energy Asia (85% owned by Valeura) is acquiring 3 shallow water licences in the Gulf of Thailand with total net oil production of 21.2 mbbl...

Auctus Advisors

Auctus on Friday - 02/12/2022

KPFG has also the option to acquire a further 20% in the Farmin Area in return for funding a further 50% of the cost of the well (100% in total).

Auctus Advisors

Auctus on Friday - 18/11/2022

Panoro Energy (PEN NO)C; Target price of NOK50 per share: Dry hole in South Africa – The Gazania- 1 well did not encounter hydrocarbons.

Auctus Advisors

Valeura Energy (TSX: VLE): One Step Closer to First Oil in Thailand

Valeura has submitted the engineering reports to support the recertification of the Wassana MOPU. Valeura and PT Buana Lingas Lautan have entered a...

Auctus Advisors

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