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 2019, Ryder Scott, independent reserve engineers, provided an estimate of the Company’s net (after royalty interests) reserves and resources assessing 115,000 net acres within the focus area only:

TMS reserves and resources as at 31 December 2019

Reserve Category Net Oil
(million bbls)
Proved Reserves (1P) 48.6
      Probable Reserves  13.5
Proved + Probable Reserves (2P) 62.1
      Possible Reserves  31.6
Proved + Probable + Possible Reserves (3P) 93.8
Resource Category

1C Contingent Resources 6.3
2C Contingent Resources 129.6
3C Contingent Resources 234.8