Key Highlights

  • Australis Oil & Gas Limited (ASX:ATS) reported on its 2026 operating activities, financial position and project developments. Its recent disclosures address Tuscaloosa Marine Shale drilling preparations, development carry terms and retained production.
  • the company reported that it had obtained partner approval to proceed with planning and execution of Willson 1H.
  • The acreage program was managed under several contractual categories, including leases excluded from the farm-in, transaction leases, carried promotional leases and future area-of-mutual-interest leases.
  • the company reported 48,725 net acres in the Tuscaloosa Marine Shale and quarterly sales of 6,060 barrels.
  • Cash and cash equivalents were USD 10.1 million at 30 September 2026, down from USD 11.2 million in June.

Australis Oil & Gas Limited (ASX:ATS) holds oil and gas interests in the United States, with its current development planning centred on the Tuscaloosa Marine Shale. Its shares were quoted at AUD 0.036, down 5.26%, on 4 November 2026. The company has continued preparations for an appraisal drilling programme alongside management of its existing acreage and producing interests.

The quarterly activities report released on 29 October 2026 described planning for the proposed Willson 1H well, associated service contracting and progress on the leasing programme. It also reported 6,060 barrels of quarterly sales and USD 10.1 million in cash as at 30 September 2026.

Projects and Operating Milestones

the company reported that it had obtained partner approval to proceed with planning and execution of Willson 1H. Contract awards had been made for most drilling and facilities construction services, and long-lead equipment was secured. Rig procurement remained under discussion, with candidate rigs identified for the proposed campaign. The Quarterly Report described a targeted fourth-quarter 2026 spud rather than confirmation that drilling had commenced. Australis also reported approvals for the Mathieu 1H and Baker 1H wells, which were proposed from the same pad as Willson 1H and permitted with lateral sections of 10,000 feet.

Reported Financial and Corporate Figures

The acreage program was managed under several contractual categories, including leases excluded from the farm-in, transaction leases, carried promotional leases and future area-of-mutual-interest leases. At 30 September the total was 48,725 net acres, up from 48,076 net acres following 649 acres of new promoted leases. the company reported approximately 40,782 net acres held by production, representing roughly 84% of its position. Under the initial carried leasing program, USD 1 million was spent or committed by the development parties. The final ownership interests remain governed by the stated earn-in and carry conditions.

Technical Programme and Outstanding Work

Australis retained minority interests in a portfolio of producing TMS wells. Its attributable sales Volume in the September quarter was 6,060 barrels from the retained 10% working interest inventory. the company held USD 10.1 million in cash at 30 September 2026, against USD 11.2 million at the preceding quarter end. The report also recorded USD 0.28 million of recoverable payments made for leasing and long-lead items. These figures distinguish the producing interests from the proposed appraisal activity and identify the resources available at the quarter end.

The quarterly report also explained that the first carried leasing program was being completed under contractual arrangements that distinguish promoted acreage from existing production-held leases. Approximately 7,900 net acres were held under term leases rather than held by production, and some leases had possible extension provisions. At existing producing wells, Australis retained a minority working interest in 48 wells, with no workovers recorded during the quarter. The reported rig search for Willson 1H remained dependent on when suitable equipment would be available. These reported details help distinguish drilling preparation and leasing commitments from the company’s existing oil production activities.

Key Insights

the company reported a combination of completed 2026 activity and work scheduled for later periods. Its disclosed figures distinguish reported operating results or cash balances from targets, estimates and proposed arrangements. The principal developments covered here relate to tms well planning, acreage and carried development program. Future programs remain subject to the specific approvals, financing, commercial terms or technical results identified in the company’s disclosures. The share-price Quotation presented above is a historical reference and is not described as a verified live quote for 4 November 2026.