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Amplitude Energy Limited (ASX:AEL)

ALERT: Price-sensitive ASX Announcement for AEL
Current share price for AEL : $1.500 -0.175 (-10.45%)+
Announcement
Release
25 May 2026 8:21AM
Price at Release
$1.675
Full Release
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Summary
Amplitude Energy Limited (AEL) has announced a binding Sale and Purchase Agreement (SPA) to acquire a 50% interest in the Artisan gas field from Beach Energy in the Offshore Otway Basin. The deal includes an upfront payment of $58.3 million and a royalty on future production capped at 31 PJ. This acquisition will accelerate gas production to 2028, enhancing the East Coast Supply Project (ECSP) economics by consolidating discovered gas with the Annie field and potential exploration success at Juliet and Nestor. The transaction is expected to be net asset value accretive for AEL and will utilize existing infrastructure to lower development costs, supported by O.G. Energy, which will also acquire a 10% interest under the same terms. Completion of the development well and regulatory approvals are necessary for the finalization of the SPA.
Key Points
  • Amplitude Energy signed SPA for 50% interest in Artisan gas field.
  • Upfront payment of $58.3 million, plus future production royalty.
  • Accelerates gas production to 2028, boosting ECSP project.
  • O.G. Energy to purchase 10% interest, aligning interests 50/50.
  • Transaction enhances ECSP economics with Annie and potential Juliet/Nestor discoveries.
  • Expected to be NAV accretive and lower cost with existing infrastructure.
  • Completion subject to development of Artisan well and regulatory approvals.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.