AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
AUD/USD 0.6612 +0.4%
BRENT US$71.40/bbl -0.8%
WTI US$67.95/bbl -0.7%
HENRY HUB US$3.28/MMBtu +1.2%
WALLUMBILLA GSH A$12.85/GJ +0.6%
INDICATIVE · AS AT 30 JUL 2026
OUR APPROACH
A specialist approach, held to three tests.
Our strategic choices are tested against three reinforcing dimensions — how we win, what we can execute, and what we allow into the portfolio. If one changes, the others are re-tested.
Novus is a coal-seam gas specialist that unlocks commercial value — establishing a position for ourselves, sometimes with others — advancing proprietary technologies and creating commercialisation pathways, wherever the geology and markets work.
01 · IDENTITY
Coal-seam gas specialist
01 · IDENTITY
Coal-seam gas specialist
Not a generic E&P. The specialist unlocker of coal-seam resources — unlock first, develop second.
02 · ACTION
Unlock commercial value
02 · ACTION
Unlock commercial value
What conventional operators write off, we unlock — through capability, not luck.
03 · MODE
Always with a stake
03 · MODE
Always with a stake
Ownership, equity or a royalty in every play. Our returns rise and fall with our partners’ — never at their expense.
04 · MEANS
Advancing proprietary tech
04 · MEANS
Advancing proprietary tech
IHF, TRD and SBT — our own IP, actively matured. Commercialisation is a discipline, not a slogan.
05 · SCOPE
Where geology and markets work
05 · SCOPE
Where geology and markets work
No sentimental attachment to geography. Global if the tests pass, local if they don’t.
CAPABILITY SYSTEM
How we execute
Three reinforcing capabilities, each with a lead and a clear mandate.
DEVELOPMENT
Subsurface innovation & integration
Responsible: Ray Johnson Jr
CORPORATE
Corporate development & capital
Responsible: Phil Dooley
OPERATIONS
Operations & route to market
Responsible: Matt Mason
PORTFOLIO FILTER
How we choose
Five tests. All must pass before an opportunity earns Novus capital or attention.
01
Material scale
Resource potential of a scale that can support a standalone development, directly or through a basin foothold.
We don't do small. Structural scale is what justifies proprietary capability.
02
Market tailwind
Structural gas demand growth or supply shortage, with a five-plus-year horizon.
Even great technology can't outrun a market with no direction.
03
Asymmetric capital
Modest, well-directed capital that can de-risk value of an order of magnitude more.
Symmetric bets are ordinary. Our capability exists to create asymmetric outcomes.
04
Non-frontier basins
Geology understood, hydrocarbons proven. The challenge is unlocking, not discovery.
We're unlockers, not explorers. Frontier exploration risk is not our game.
05
Ownership in the outcome
Ownership, equity or a royalty in every play — never a fee for our best thinking.
Advisory work has its place, but it is not how we build value.