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 2023, Ryder Scott, independent reserve engineers, provided an estimate of the Company’s net (after royalty interests) reserves and resources assessing 61,400 net acres within the focus area only:

TMS reserves and resources as at 31 December 2023

Developed & Producing Reserve Category Net Oil
(million bbls)
Proved Developed Reserves (1P) 2.1
      Probable Reserves  0.6
Proved + Probable Developed Reserves (2P) 2.7
      Possible Reserves  0.7
Proved + Probable + Possible Developed Reserves (3P) 3.4
Resource Category

1C Contingent Resources 19.7
2C Contingent Resources 86.3
3C Contingent Resources 156.3