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. 

Stephane Foucaud
  • Stephane Foucaud

AUCTUS ON FRIDAY - 10/10/2025

Please click here to access the financial metrics for Auctus' coverage universe AUCTUS PUBLICATIONS ________________________________________ Serica Energy (SQZ LN)C; Target price of £3.05 per share: Another operational setback at Triton; value and distribution profile intact – Operational issues with the flare system at the Triton FPSO have resulted in a temporary suspension of production. Production is likely to restart shortly at very low rates until the root cause is identified and resolved...

Stephane Foucaud
  • Stephane Foucaud

Valeura Energy (TSX: VLE): Potential reserves addition. Wassana redeve...

• 3Q25 production averaged ~23 mbbl/d (above 2Q25 production of 21.4 mbbl/d), exiting the quarter at 24.8 mbbl/d. • Ten wells were drilled at Nong Yao, of which seven are now producing. Field output has increased from ~8 mbbl/d to ~11.6 mbbl/d as of end-September. • Several wells indicate potential reserves upside. At Nong Yao A, the lateral extent of the H2.0 sand encountered in well NYA-40H exceeded expectations. Additional bypassed oil was identified in the shallower H2.5 and H3.0 zones. • A...

Stephane Foucaud
  • Stephane Foucaud

Serica Energy Plc (AIM: SQZ): Another operational setback at Triton; v...

• Operational issues with the flare system at the Triton FPSO have resulted in a temporary suspension of production. • Production is likely to restart shortly at very low rates until the root cause is identified and resolved. • In the absence of further clarity, we conservatively assume that Triton production will be constrained until the scheduled Bittern pipeline shutdown in November. • We now forecast 2025 group production of 27.5 mboe/d, revised down from 30.8 mboe/d. • Reflecting the 2025 d...

Stephane Foucaud
  • Stephane Foucaud

Zephyr Energy Plc (AIM: ZPHR): ~35 mmboe net 2P reserves in the Parado...

• Zephyr is estimated to hold 35.2 mmboe net 2P reserves (net of royalty) and 74.2 mmboe 3P plus contingent resources in the Paradox. The 2P case assumes 12 drilling locations, including 3 existing wells. These volumes are materially higher than in the 2022 CPR (25x for 2P) and align with the May management estimates (25.6–89.5 mmboe vs. 35.2–74.2 mmboe in the new CPR’s 2P–3P+2C range). The 3P+2C case includes 11 additional locations (further from the existing wells) vs. the 2P case. • The CPR a...

Stephane Foucaud
  • Stephane Foucaud

AUCTUS ON FRIDAY - 03/10/2025

AUCTUS PUBLICATIONS ________________________________________ Arrow Exploration (AXL LN/CN)C; Target price of £0.40 per share: Dry hole at Mateguafa Oeste but three more prospects to drill – The Mateguafa Oeste was water wet. Our ReNAV for the well was £0.09 per share. We did not carry any production from this prospect in our cash flow forecast. The rig will now move to Mateguafa Attic where the Mateguafa 5 vertical well will be drilled in November. This is a low risk well that is a step out to M...

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