Amplitude Energy strike gas at Juliet-1 well

• Amplitude Energy confirmed the presence of hydrocarbons at the Juliet-1 exploration well, reaching a total depth of 2,199m.
• Following the operations update, the Amplitude Energy share price was up at $1.80.
• The company approved completing and testing the well ahead of schedule to support its East Coast Supply Project.

Amplitude Energy (ASX:AEL) intersected hydrocarbons at its offshore Juliet-1 exploration well after drilling to a total depth of 2,199m in the Otway Basin.

The success follows the commencement of drilling operations in late August as part of the company's regional growth strategy.

The joint venture partners approved completing the well before starting clean-up and testing activities over the next two weeks, according to the announcement.

Preliminary wireline data indicates strong reservoir quality with high deliverability and low carbon dioxide levels estimated at below 2 mol%.

Following the announcement, the Amplitude Energy share price was up at $1.80.

The project operates under permit VIC/L24, with Amplitude Energy holding a 50% interest alongside partner O.G. Energy.

The site sits adjacent to existing pipeline infrastructure to feed directly into the East Coast Supply Project.