Australis Oil & Gas (ATS) H1 2026 earnings summary

Executive summary

• Completed two strategic transactions at end of 2025, securing a US-listed development partner and establishing a carry program for early TMS development.

• Sold 90% WI in producing TMS wells for $16.9 million, repaid all Macquarie Bank debt, and increased cash reserves.

• Preparatory work for the Initial Test Well (Willson 1H) advanced, with drilling set for Q4 2026; permit for second carried well (Mathieu 1H) initiated.

• Leasing activities commenced under the $1 million Initial Leasing Program.

Financial highlights

• Revenue for 1H 2026 was $0.51 million, down 93% from $7.72 million in 1H 2025.

• Net loss after tax increased 38% year-over-year to $2.59 million (1H 2025: $1.89 million).

• Sales volumes were 9,200 bbls (1H 2025: 110,000 bbls); average realised price $85/bbl, up 20% year-over-year.

• Field netback was ($0.1) million, impacted by a $0.2 million non-recurring prior period adjustment.

• Adjusted EBITDA was ($2.6) million for 1H 2026.

• Cash and cash equivalents at 30 June 2026 were $11.2 million (31 Dec 2025: $14.2 million).

Outlook and guidance

• Drilling of Willson 1H under the Carry Program scheduled for Q4 2026, subject to rig availability.

• Permit application for second carried well (Mathieu 1H) underway.

• Reassessment of undeveloped reserves planned once a development program is underway.