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Australis Oil & Gas ( (AU:ATS) ) just unveiled an update.
Australis Oil & Gas Ltd announced two significant transactions aimed at advancing its development in the Tuscaloosa Marine Shale (TMS) play. The first transaction involves partnering with a reputable US-listed independent oil and gas company to deploy up to $46 million in development capital for new wells, allowing Australis to retain a 20% working interest. This partnership is expected to enhance Australis’s operational capabilities and financial stability by utilizing the Carry Program to fund its share of development without relying on shareholder equity or debt. The second transaction involves selling 90% of its working interests in existing TMS producing wellbores for $16.9 million to an affiliate of the EQV Group, which will enable Australis to repay all outstanding debt and increase its cash reserves. These strategic moves are designed to unlock the value of Australis’s undeveloped TMS assets while maintaining key rights and potential upsides.
The most recent analyst rating on (AU:ATS) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Australis Oil & Gas stock, see the AU:ATS Stock Forecast page.
More about Australis Oil & Gas
Australis Oil & Gas Ltd is an oil and gas company focused on the development and exploration of the Tuscaloosa Marine Shale (TMS) play. The company aims to leverage its undeveloped acreage in the TMS and has been seeking partnerships and financial strategies to advance its development initiatives.
YTD Price Performance: 30.0%
Average Trading Volume: 826,005
Technical Sentiment Signal: Sell
Current Market Cap: A$17.3M
Find detailed analytics on ATS stock on TipRanks’ Stock Analysis page.