TUSCALOOSA MARINE SHALE (TMS)
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
|Ryder Scott estimated reserves as at 31 Dec 18
||32 million bbls
||50 million bbls
||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.