Australis Oil & Gas (ATS) H1 2025 earnings summary

Executive summary

• Principal activity is oil and gas exploration, development, and production, focused on the Tuscaloosa Marine Shale (TMS) in Louisiana and Mississippi, USA.

• Generated positive operational cash flow in 1H 2025, supported by an average realised oil price of US$70/bbl and reduced group costs.

• Produced from 30 operated and 18 non-operated wells during the period, with total sales volumes of 110,000–110,400 bbls, down from 132,000 bbls in 1H 2024.

• Oil production declined year-over-year due to natural well decline and weather-related outages.

• Strategic focus remains on securing a partner to advance TMS asset development and monetisation, with increased inbound interest noted.

Financial highlights

• Revenue for the half-year was US$7.7 million, including a hedge contract settlement gain, down 26% from US$10.4 million year-over-year.

• Field Netback was US$2.5 million, a 35% decrease from 1H 2024.

• Adjusted EBITDA was US$0.7 million, down 44% year-over-year.

• Net loss after tax improved to US$1.9 million from US$4.0 million in 1H 2024, a 53% reduction.

• Cash balance at period end was US$4.0 million, down from US$6.2 million at 31 Dec 2024 and US$7.7 million a year earlier.

Outlook and guidance

• Market conditions are seen as improving, with attention expected to increase for de-risked areas like the TMS Core.

• Confident that oil and gas market conditions will drive potential partners to consider TMS for future development.

• No guarantee of completing a partnering transaction, but management remains encouraged by recent interest.