Introduction

TUSCALOOSA MARINE SHALE (TMS)

ONSHORE USA

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.

At 31 December 2020, Australis holds over 107,500 net acres in the oil rich TMS core, making it the largest producer and acreage holder in that region.  Australis operates 38 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 2020
Net TMS Core leased (focus) acres	107,500 (35% HBP)
Net (after royalties) production - average 2020	1,126 bbl/day
Ryder Scott estimated reserves as at 31 Dec 20
1P	10.4 million bbls
2P	21 million bbls
3P	27.5 million bbls
2C Resources	149.4 million bbls
Well inventory (future locations, net) - 107,500 net acres assessed	~ 400 net wells

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