Amplitude Energy Limited (AEL: ASX, 锟紸mplitude Energy锟� or 锟絫he Company锟�) provides the following update
on drilling operations at the Isabella prospect in the Offshore Otway Basin, Victoria.
The Isabella field is located in permit VIC/L24 within Commonwealth waters, south-west of the producing
Casino field. Amplitude Energy is operator and 50% interest holder in VIC/L24 with O.G. Energy holding the
remaining 50% interest (the 锟絁oint Venture锟�). The Isabella field is being drilled as a planned sidetrack (锟絊T1锟�) from the earlier Elanora-1 well.
Results to date
As announced on 2 March 2026, the ST-1 8 锟�-inch hole section penetrated the primary Waarre C reservoir
target on 1 March 2026.
A formation evaluation program via wireline logging was conducted between 3 - 6 March 2026 to collect
pressure and sample data. Preliminary data collected from ST-1 to date implies high deliverability and low
CO2 levels (estimated at approximately 5 mol%1
) in the Isabella reservoir.
The gas water contact is currently interpreted as being below the Waarre C reservoir intersection, with
technical results to date indicating potential for a larger gas accumulation than that implied by the Waarre
C reservoir intersection alone, which supports the Joint Venture progressing to a flow test to confirm
minimum gas volume and reservoir pressure.
The Elanora-1/ST-1 well programme is currently within the Joint Venture-approved schedule and budget.
Well completion and flow test
The Joint Venture has approved the casing and completion of ST-1, followed by a flow test to inform
resource volume estimates and further laboratory analysis to confirm gas composition. These activities are
expected to be completed over approximately two weeks.
A final decision regarding the development of the Isabella prospect will be made following evaluation of
the flow test and gas composition data. Should the information not support commercial development, the
well will be plugged and abandoned.
Technical information required by ASX Listing Rule 5.30 is provided in the Appendix to this announcement.