Australis Oil & Gas Ltd (ASX:ATS)'s CEO Ian Lusted speaks with Elisha Newell about the company’s US-based onshore Tuscaloosa Marine Shale (TMS) project. This single project focused company has spent the last few years acquiring and leasing acreage in one of the last emerging oil shale basins onshore in the USA. The TMS area has oil production per well similar to the best areas within US shale such as Eagle Ford in Texas. With current production covering all costs, Australis has more than 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. The ATS CEO talks about the strength of the management team and how the experience of this team is developing its latest project, particularly the undeveloped asset. This is a sizeable asset with 150 million barrels recoverable in the mid-case estimate, which is the same size as the net interest Woodside holds in its Sangomar asset. Lusted also explains its current aim of seeking capital to help with its last piece of the puzzle as well as coming newsflow including finding a key partner to work with.
Australis Oil & Gas looking for key partner for major undeveloped asset
