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Australis Oil and Gas Limited (ASX:ATS)

ALERT: Price-sensitive ASX Announcement for ATS
Current share price for ATS : $0.020 -0.001 (-4.76%)+
Announcement
Release
28 Apr 2026 9:26AM
Price at Release
$0.021
Full Release
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Summary
Australis Oil & Gas Limited released their Quarterly Activities Report and Appendix 5B for the first quarter of 2026, highlighting key financial and operational activities. The company remains focused on the development of its Tuscaloosa Marine Shale (TMS) assets, having formed a strategic partnership with a US-listed oil and gas company, which includes a commitment to carry Australis for a 20% working interest in a development program valued at US$46.25 million. Australis completed significant transactions in late 2025, including the sale of 90% of its working interest in TMS producing wells to EQV, ensuring funding for future programs. As of March 31, 2026, Australis had cash and cash equivalents totaling US$13.6 million, maintaining its debt-free status. The report includes a detailed cash flow statement, indicating a net cash outflow from operating activities and minor net inflows from investing activities, with sufficient cash reserves to cover future operating expenses.
Key Points
  • Australis formed a partnership with a US-listed oil and gas company for TMS development.
  • The partnership includes a US$46.25 million development program for new wells.
  • Australis sold 90% of its working interest in TMS producing wells to EQV.
  • Company maintains US$13.6 million in cash and cash equivalents as of March 31, 2026.
  • Australis remains debt-free following repayment of Macquarie credit facilities in 2025.
  • The report details cash flows with a net cash outflow from operations.
  • Australis now participates at a 20% working interest in the Initial Leasing Program within the AMI.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.