Australis Oil & Gas Limited provided the following summary of amendments to its secured credit facility. Credit Facility amended and extended to continue to provide funding flexibility; Committed funding remains at USD 75 million; Availability period for Tranche 1 extended by one year to April 2021; Maturity date extended by two years to November 2023; and certain financial covenants restructured to provide further flexibility. Current cash flow from production covers reduced G&A, finance costs and principal repayments under amended Facility: Total Debt drawn of USD 34 million with total cash of USD 18 million as at 30 November 2019; Field Netback for 9 months to 30 September 2019 of USD 21 million from 2,300 bopd; G&A reduced by 20% from 2020. Credit Facility amended and extended - Australis undertook a review of its USD 75 million secured credit facility (the "Facility") and approached its lender, Macquarie Bank Limited, to seek certain amendments to the Facility which would offer additional financial flexibility. The Facility was originally designed for a relatively short-term utilisation, with funding available for the Initial Drilling Program ("IDP") from mid-2018 through to May 2020 and an original maturity date of November 2021. The key amendments implemented: extend the Maturity Date by two years to November 2023; extend the availability period of Tranche 1 (the first $65 million of the committed Facility) by one year to April 2021; reduce and restructure certain financial covenants providing Australis with greater balance sheet flexibility in a lower oil price environment; provide greater ability to transact partnering opportunities within the existing security arrangements; and the ability to repay all or a portion of drawn amounts at any time without cancelling the remaining availability. In return for these amendments Australis has agreed to pay a customary standby fee of 2% pa on undrawn committed funds during the availability period. Australis retains the ability, without penalty, to refinance the entire Facility at any time.