Australis Oil & Gas Ltd ('Australis' or 'Company') advises that Hurricane Ida passed through the TMS field in the previous 24 hours and had been downgraded to a Category 1 hurricane by that time.

The Company is pleased to report that all personnel are safe and well and apart from electrical power outages throughout most of the field, caused by fallen trees damaging power lines, there has been no material damage or environmental impact within the field. As power is restored, production from wells within the affected areas can recommence as we have been advised the refinery we sell to is expecting to be operational on Tuesday 31 August (USCST) and oil haulers are available. It is anticipated the electrical power supplier will systematically restore the supply of electricity to the Company's well locations in the coming few days.

Contact:

Ian Lusted

Tel: +61 8 9220 8700

About Australis

Australis is an upstream oil and gas company seeking to provide shareholders value and growth through the strategic development of its quality onshore oil and gas assets in the United States of America. The Company's acreage within the core of the oil producing TMS provides significant upside potential for ATS with 21 million bbls of 2P reserves including 3.7 million bbls producing reserves providing free cash flow as well as 149 million bbls of 2C contingent resource1 . The Company was formed by the founders and key executives of Aurora Oil & Gas Limited, a team with a demonstrated track record of creating and realising shareholder value.

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