OPERATIONS

Australis to raise A$39M for drilling

AUSTRALIS Oil & Gas has received commitments from institutional and sophisticated investors for a placement of 115 million new ordinary shares at A34c to raise $39.2 million, which represents a 5.6% discount in its close price at March 16.

Australis rates the Tuscaloosa Marine Shale highly

Australis rates the Tuscaloosa Marine Shale highly

The funds will go towards the beginning of drilling in the Tuscaloosa Marine Shale, with sites already identified for four to 10 wells within the core of the TMS. The company's first drilling is...

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