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 2021, Australis holds over 98,000 net acres in the oil rich TMS core, making it the largest producer and acreage holder in that region.  Australis operates 33 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 2021  
Net TMS Core leased (focus) acres 98,000 (39% HBP)
Net (after royalties) production - average 2021 910 bbl/day
Ryder Scott estimated developed reserves as at 31 Dec 21  
1P Developed (i.e. producing) 3 million bbls
2P Developed 3.7 million bbls
3P Developed 4.5 million bbls
2C Resources 149 million bbls 
Well inventory (future locations, net) - 98,000 net acres assessed ~ 360 net wells

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