Australis Oil & Gas Ltd. (AU:ATS) has released an update.
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Australis Oil & Gas Ltd reported positive operational cash flow and a 9% increase in average achieved oil price to US$79/bbl for the first half of 2024, despite a production decline. Adjusted EBITDA rose to US$1.2M, and the net loss after tax was US$4M, attributed mainly to a non-cash write-off. The company reduced its net debt to US$3.6M and secured improved terms for its credit facility, maintaining full covenant compliance.
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