Australis Oil & Gas Limited Reports Earnings Results for the Full Year Ended December 31, 2022

Australis Oil & Gas Limited is an Australia-based oil and gas company. The Company's principal activity is oil and gas exploration, development and production. Its segment includes Oil & Gas Production, Exploration, and Other. The Company's Oil & Gas Production segment is engaged in the development and production of oil and gas assets in the United States. Its Exploration segment is engaged in oil and gas exploration and evaluation in the United States. The Company operates one area of interest onshore being leases, wells and facilities in the Tuscaloosa Marine Shale (TMS) in the states of Louisiana and Mississippi in the USA. It holds approximately 73,300 net acres within the production delineated core of the proven oil producing TMS. The Company is engaged in operating approximately 33 producing wells. Its subsidiaries include Australis USA 1 Pty Limited, Australis Oil & Gas UK Ltd, Australis Oil & Gas Portugal Sociedade Unipessoal Lda, Australis TMS Inc and Others.