Australis Oil & Gas Ltd. (AU:ATS) has released an update.
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Australis Oil & Gas Ltd, the largest acreage holder in the Tuscaloosa Marine Shale (TMS), reported steady financial performance in Q2 2024 with $5.2 million in revenue and a cash balance of $7.7 million, despite a slight decrease in sales volumes. The company, known for its strategic development of quality onshore oil and gas assets in the USA, continues to manage its leasehold within cash flow constraints and is actively seeking investment partners for the TMS. Australis also reported successful workover operations and consistent production volumes aligning with expectations.
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