Amplitude Energy (ASX: AEL) Intersects 49 Metres of Net Gas Pay at Juliet-1

Amplitude Energy has intersected 49 metres of interpreted high-quality net gas pay at its Juliet-1 well offshore Victoria.

Preliminary data identified elevated gas readings within the Waarre C reservoir, alongside higher resistivity readings from logging-while-drilling tools. The company said those readings were consistent with probable hydrocarbon presence.

The sandstone contains a gross gas-bearing interval of at least 60 metres. Results remain preliminary, with further logging and evaluation needed before Amplitude can estimate resource volumes or assess commercial recoverability.

Drilling Meets the Primary Target

Juliet-1 penetrated the primary Waarre C target and reached total depth at 2,299 metres true vertical depth subsea. That occurred at about 10:20 p.m. Australian Eastern Standard Time on September 7.

The reservoir was intersected at 2,129 metres true vertical depth subsea. Amplitude reported that drilling reached total depth safely and without material incidents.

The interpreted net pay is in line with other Waarre C reservoirs in nearby fields. Reservoir quality and thickness also matched the company’s pre-drill expectations.

Meanwhile, the gas-water contact is currently interpreted below the well’s total depth. Amplitude said the drilling programme remains ahead of schedule and budget.

Location Beside Existing Infrastructure

Juliet-1 lies in permit VIC/L24 within Commonwealth waters in the Offshore Otway Basin. It is adjacent to the existing Casino, Henry and Netherby pipeline.

Amplitude operates the permit and owns a 50% working interest. O.G. Energy holds the remaining 50%.

The well forms part of Amplitude’s broader position in the Otway and Gippsland basins. The company operates offshore gas fields and onshore processing plants serving Australia’s southeast domestic gas market.

It also holds undeveloped discovered resources, including the Annie and Manta gas fields, near existing infrastructure. Juliet therefore adds another exploration result within the company’s established operating region.

Key Tests Still Ahead

Wireline logging is scheduled over the coming days. Those operations will collect pressure and sample data for resource-volume estimates and an initial assessment of gas composition.

Amplitude will then decide whether to complete Juliet-1. If completed, the well will undergo clean-up before being suspended.

Data from that clean-up will inform the company’s assessment of reservoir deliverability. Further laboratory work will also confirm gas composition, including the presence of any material non-hydrocarbon gases.

The remaining work is expected to take approximately two weeks.

However, Amplitude has not reported petroleum reserves or contingent resources for Juliet-1. No flow testing results, flow rates or recoverable gas estimates were included in the announcement.

The company cautioned that intersecting a gas-bearing reservoir does not by itself confirm commercially recoverable hydrocarbons. Interpretation remains subject to further logging, testing and evaluation.