Australis Oil & Gas (Australis) is an oil and gas company formed by the founder and executives of Aurora Oil & Gas Limited (Aurora), which was sold in June 2014 for an enterprise value of A$2.6 billion including assumed debt of approximately A$800 million. Through two acquisitions completed in 2016 and 2017, Australis has accumulated a strategic position within one of the last emerging oil shale basins onshore in the USA. Australis has become the largest acreage holder in the production defined core area of the Tuscaloosa Marine Shale (TMS), onshore Louisiana and Mississippi. This large acreage position within the TMS core, together with the associated production and cashflow, proven reserves and large undeveloped resource, provides the platform for significant value creation for Australis shareholders. In addition, Australis owns a large oil & gas licensed area onshore Portugal with a discovered gas resource.