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 2020, Ryder Scott, independent reserve engineers, provided an estimate of the Company’s net (after royalty interests) reserves and resources assessing 107,500 net acres within the focus area only:

TMS reserves and resources as at 31 December 2020

Reserve Category Net Oil
(million bbls)
Proved Reserves (1P) 10.4
      Probable Reserves  10.6
Proved + Probable Reserves (2P) 21.0
      Possible Reserves  6.4
Proved + Probable + Possible Reserves (3P) 27.5
Resource Category

1C Contingent Resources 20.8
2C Contingent Resources 149.4
3C Contingent Resources 270.6