Australis Oil & Gas Limited engages in the oil and gas exploration, development, and production activities. The company operates through Oil & Gas Production, Exploration, and Other segments. The company holds 100% interest in the Tuscaloosa Marine Shale covering an area of 107,500 net acres located in Louisiana and Mississippi, the United States.

It also has a 100% interest in the Batalha and Pombal concessions, which cover an area of approximately 620,000 acres located onshore in the Lusitanian Basin, Portugal.