Introduction

TUSCALOOSA MARINE SHALE (TMS)

ONSHORE USA

Through multiple acquisitions and strategic leasing over the past three 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 115,000 net acres in the oil rich TMS core, making it the largest producer and acreage holder in that region.  Australis operates 34 producing wells generating positive cashflow.

This large acreage position within the TMS core, with it's 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  
Net TMS Core leased (focus) acres 115,000 (30% HBP)
Net (after royalties) production - average 2019  2,000 bbl/day
Ryder Scott estimated reserves as at 31 Dec 18  
1P 32 million bbls
2P 50 million bbls
3P 89 million bbls
Australis estimated reserves (3P) and resources (2C) as at 31 March 19 206 million bbls 
Well inventory (future locations, net) - 115,000 net acres assessed 425 net wells

For a summary of reserves and resources refer to Reserves and Resources.