By Digifin Pty Ltd · About this coverage
Key Points
- FID taken on ECSP development phase; first gas still targeted for calendar 2028
- AJA case designed for up to about 90 TJ/day gross for at least four years from first gas
- Point-forward ECSP development costs $190m to $210m net over FY27 and FY28
- Nestor sanctioned; Amplitude 50% net drilling and completion cost $70m to $80m
- FY27 capex guidance lifted to $320m to $390m; Juliet-1 completed with 52m net pay
About Amplitude Energy (ASX:AEL)
Amplitude Energy Limited is an ASX-listed gas production company headquartered in Adelaide. It owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, and holds non-operated oil production in the Cooper Basin. It supplies the south-east Australian domestic gas market under long-term customer contracts.
Amplitude Energy (ASX:AEL) took a final investment decision to proceed with the East Coast Supply Project development phase and sanctioned the Nestor exploration well, while reporting completion of Juliet-1.
The development phase covers subsea installations and Athena Gas Plant modifications in FY28 and authorises award of key contracts. Subject to completing the Artisan 1 acquisition, the Annie, Juliet and Artisan case is designed to deliver gross production of up to about 90 TJ/day through Athena for at least four years from first gas targeted in calendar 2028. Point-forward development costs are expected at $190 million to $210 million net over FY27 and FY28. Annie and Artisan together are assessed at over 120 PJ of gross 2C Contingent Resources. Nestor will be drilled, with Amplitude's 50% net point-forward drilling and completion cost expected at $70 million to $80 million, lifting FY27 capital expenditure guidance to $320 million to $390 million from $250 million to $310 million. Juliet-1 is completed and being suspended for development, with 61 metres gross and 52 metres net pay in Waarre C sands and a peak surface-constrained flow of 56.7 MMscf/day; the Transocean Equinox moves next to Annie-2.
The Artisan acquisition remains conditional on regulatory approvals and licence transfers. Annie and Artisan Reserves classification is still under assessment, and Nestor production depends on a commercial discovery.
Source: Amplitude Energy Limited (ASX:AEL), 30 September 2026. Summary content supplied by Digifin Pty Ltd.
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