Through multiple acquisitions and strategic leasing, 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.

At 31 December 2023, Australis 61,400 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, with it's associated production and cashflow, proven reserves and large undeveloped resource provides the platform for significant value creation for Australis shareholders.  

At 31 December 2023  
Net TMS Core leased (focus) acres 61,400 (63% HBP)
Net (after royalties) production - average 2022 590bbl/day
Ryder Scott estimated developed reserves as at 31 Dec 22  
1P Developed (i.e. producing) 2.1 million bbls
2P Developed 2.7 million bbls
3P Developed 3.4 million bbls
2C Resources 86 million bbls 
Well inventory (future locations, net) - 55,000 net acres assessed ~ 220 net wells

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