Australis Oil & Gas Limited (ASX: ATS) announced on 2 July 2026, significant progress in its US$46.25 million carried work program in the Tuscaloosa Marine Shale (TMS) play. Australis Oil & Gas Limited is an ASX-listed oil and gas company focused on developing quality onshore oil and gas assets in the United States, providing shareholder value through strategic development. The update primarily details the advancement of the first well, designated Willson 1H, under this substantial development initiative.
The company has formally submitted a well permit application for the Willson 1H to the Mississippi Oil and Gas Board (MSOGB), with a hearing scheduled for 15 July 2026. The Willson 1H is proposed from an existing pad into a new drilling unit of approximately 1,900 gross acres, with a 10,000-foot lateral length. This reflects the Development Partner’s objective to evaluate extended lateral drilling. Upon production, the Willson unit acreage will be added to the company’s held-by-production (HBP) position. Australis currently holds an 88% working interest in this proposed unit, subject to adjustment after the total US$46.25 million carry program in accordance with the transaction agreement.
Preparation for permitting of wells #2 and #3 in the carry program is also underway, with applications expected over the coming months. Operational planning for the Willson 1H is advancing in close coordination with its Development Partner, with final decisions on well architecture, data acquisition, and fracture stimulation design nearing completion to enable service contracting. While a target spud date has not yet been confirmed, preparations preserve the option of a Q4 2026 start. Additionally, Australis and its Development Partner are actively engaged in a leasing program, utilising the US$1 million Development Partner land carry across the TMS Area of Mutual Interest. The company has also launched a new website to enhance shareholder engagement and disseminate operational results.
