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 |
