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. The Company segment includes Oil & Gas Production and Exploration. Its Oil & Gas Production segment is engaged in the development and production from 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 is focused on Tuscaloosa Marine Shale (TMS) Project. It holds over 98,000 net acres in the oil rich TMS core, making it the producer and acreage holder in that region. The Company operates approximately 33 producing wells. The Company’s wholly owned subsidiaries include Australis USA 1 Pty Ltd, Australis USA 1 Pty Limited, Australis Oil & Gas UK Ltd, Australis Oil & Gas Portugal Sociedade Unipessoal Lda, Australis TMS Inc and Australis TMS Inc.