Australis Oil & Gas

Australis Oil & Gas Limited (ASX:ATS) is an oil and gas company focused on the development of its acreage in the Tuscaloosa Marine Shale (TMS) oil play in Louisiana and Mississippi, USA. Australis holds approximately 77,200 net acres in the core area of the TMS, which is considered to be one of the most economic parts of the wider TMS oil play.

The company has an inventory of around 280 net well locations on its acreage based on 120 square mile spacing. Australis has 31 operated producing wells and 17 non-operated producing wells, with an estimated 120 million barrels of mid-case recoverable resources across Australis' net acreage.

With an unconventional oil play targeting the oil potential from the Tuscaloosa Marine Shale formation which extends across southwest Mississippi and central Louisiana, Australis has consolidated a large contiguous position across the core part of the play and is now positioned as the largest net acreage holder in the TMS core and is focused on securing a funding partner for the next phase of development.