News: ATS Australis Oil & Gas Seeking Commitments From Investors To Raise Up To A$30.5 Mln, page-46

Jummy,
ConocoPhillips purchased the 220,000 acres from Amelia Resources in April 2018. Cant find the price, however a comment to the fact that it was great value in their opinion appears in some of their dialogue. They proceeded to get approval for 23 proposed drill locations and have committed to 4 drills. Two of these are being drilled now. The first being McKewon #1 has been finished and their 30 day flow rate is now happening. The second well is being fracked at present. These drills are into the Austin Chalk reservoir not the TMS which is 600 feet below the AC resource. Expect these industry much anticipated results out in 30 and 60 days approximately. Australis will announce their well 3 & 4 flow rates around mid to late April. Before that a further update on the Stewart 2nd month flow should be released. Cheers Jummy