Amplitude Energy (ASX:AEL) announced a milestone in its offshore Victorian operations, revealing that flow testing is set to commence at the Isabella prospect following highly encouraging preliminary results.
Located within the VIC/L24 permit in the Offshore Otway Basin, the Isabella field is a joint venture between Amplitude Energy and O.G. Energy, with both parties holding a 50% interest.
The latest update confirms that the ST-1 sidetrack well penetrated the primary Waarre C reservoir target on March 1.
Subsequent wireline logging and formation evaluation conducted last week have yielded promising data, suggesting high deliverability and notably low CO2 levels, estimated at approximately 5 mol%.
Perhaps most significantly, technical analysis indicates that the gas-water contact lies below the current intersection, pointing toward a gas accumulation potentially much larger than initially projected.
With the project currently tracking within the approved schedule and budget, the Joint Venture has greenlit the casing and completion of the well.
The phase will be followed by a comprehensive flow test and laboratory analysis to pinpoint gas composition and resource volume.
The critical activities are expected to wrap up within the next fortnight.
A final investment decision regarding the commercial development of the Isabella prospect hinges on these results; should the data fall short of commercial viability, the well will be plugged and abandoned.