TUSCALOOSA MARINE SHALE (TMS)
Through multiple acquisitions over the past 2 years, Australis has achieved a strategic acreage position within the TMS, one of the last emerging oil shale basins onshore in the USA with oil production per well similar to the best areas within US shale such as Eagle Ford in Texas.
Australis holds over 95,000 net acres in the oil rich TMS core, making it the largest producer and acreage holder in that region. Australis operates 31 producing wells generating positive cashflow.
This large acreage position within the TMS core, together with the associated production and cashflow, proven reserves and large undeveloped resource provides the platform for significant value creation for Australis shareholders.
|Summary of Australis' TMS Asset
||As at 31 December 2017
|Net TMS Core leased (focus) acres
||95,000 (29% HBP)
|Net production - average Q4 2017
|Proved (1P) oil reserves (net)
||29 million bbls (YE17)
|Proved and probable (2P) oil reserves (net)
||47 million bbls (YE17)
|2C oil resources (millions bbls, net) as at 1 Feb 2017 - 81,000 net acres assessed
||98 million bbls (YE17)
|Well inventory (future locations, net) - 95,000 net acres assessed
||350 net wells