Transitioning from explorer to producer is a delicate feat for many oil and gas companies, but the team behind Australis Oil and Gas (ATS) has a history of success
The leadership at the helm of ATS previously floated Aurora Oil and Gas on the ASX and TSX, before eventually selling it for an enterprise value of $2.6 billion
Jon Stewart, Ian Lusted and Graham Dowland all worked as leaders at Aurora and are now using their decades of experience to build up Australis
The company has accumulated a major acreage position in the onshore Tuscaloosa Marine Shale (TMS) basin in Louisiana and Mississippi
It's estimated there are 170 million discovered and recoverable barrels of oil (bbls) at TMS, with Australis already operating 38 wells producing over 1300 bbls per day
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