Equity Capital Markets and Advisory Business, Auctus Advisors

Auctus Advisors

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 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>While Calima received three unsolicited offers from Canadian entities to acquire assets from the company at a premium to Calima’s current market cap, the preferred transaction could not complete due to the volatility of the equity market.</li>
<li>Calima indicated that the rationale for Canadian entities to consider Calima’s assets as an attractive target was the disconnect between the earnings multiples at which Calima shares trade in Australia (~1.5x P/E for 2023 on our forecasts) and similar Canadian multiples (2.5-3.5x according to Calima).</li>
<li>Calima also anticipates 2Q23 free cash flow of A$7.5 mm, which is also well above our latest forecasts (~A$5 mm).</li>
</ul>


While Calima received three unsolicited offers from Canadian entities to acquire assets from the company at a premium to Calima’s current market cap, the preferred transaction could not complete due to the volatility of the equity market.
Calima indicated that the rationale for Canadian entities to consider Calima’s assets as an attractive target was the disconnect between the earnings multiples at which Calima shares trade in Australia (~1.5x P/E for 2023 on our forecasts) and similar Canadian multiples (2.5-3.5x according to Calima).
Calima also anticipates 2Q23 free cash flow of A$7.5 mm, which is also well above our latest forecasts (~A$5 mm).


Calima Energy Ltd (ASX: CE1): Asset sale not proceeding. High free cash flow in 2Q23.