Reserves and Resources

As a result of acreage acquisitions and its land leasing program, Australis has a significant reserve and resource position within the TMS.

As at 31 December 2018, Ryder Scott, independent reserve engineers, provided an estimate of the Company’s net (after royalty interests) reserves and resources assessing 110,000 net acres (Australis added a further 5,000 net core acres in the TMS during Q1, 2019) within the focus area only:

TMS reserves and resources as at 31 December 2018

Reserve Category Net Oil
(million bbls)
Proved Reserves (1P) 31.9
      Probable Reserves  17.8
Proved + Probable Reserves (2P) 49.7
      Possible Reserves  39.5
Proved + Probable + Possible Reserves (3P) 89.2
Resource Category

1C Contingent Resources 6.9
2C Contingent Resources 107.8
3C Contingent Resources 195.4