Australis Oil & Gas Limited provides the following update in relation to its oil price hedged position. Highlights: 443,000 bbls hedged through to 2023 at a floor price ranging from WTI $51 to $55 per bbl. 80% of net forecast PDP volumes hedged until June 2020 at an average price of WTI $54 per bbl. 68% of net forecast PDP volumes hedged in 2020 at an average price of WTI $53 per bbl. Australis achieves the LLS premium to WTI on oil sales which averaged $5.60/bbl in 2019. Australis has a forward hedge book of 443,000 barrels through to early 2023 at a floor price ranging from WTI $51 to $55 per bbl. The hedge book is front ended with 266,000 bbls hedged for the remainder of 2020 at an average WTI price of $53 per bbl. This amounts to 68% of Australis' net expected PDP production in 2020 and 80% of net expected PDP production over the next four months.