Australis Oil & Gas Ltd. (AU:ATS) has released an update.
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Australis Oil & Gas Ltd reported a 6% decline in sales volume for Q3 2024, resulting in a 12% drop in sales revenue to $4.6 million, primarily due to lower realized commodity prices. Despite these challenges, the company successfully reduced its credit facility principal debt by $1.5 million and maintained a cash balance of $7.2 million at the quarter’s end. Australis remains focused on maximizing its control over the Tuscaloosa Marine Shale’s core, as it seeks a partner to further develop this promising asset.
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