Amplitude Energy Limited is pleased to provide an
update on recent operational and commercial developments.
Orbost Gas Processing Plant (OGPP)
OGPP continues to demonstrate strong production performance, with multiple production records set over
recent weeks. April saw the highest monthly production on record at 66.9 TJ/day, with OGPP producing
above 66 TJ/day on greater than 85% of days thus far in Q4 FY25. On 14 May, FY25 YTD production from
OGPP surpassed FY24 full-year production of 18.1 PJs and overall Group production is tracking towards the
top-end of Amplitude Energy’s FY25 production guidance.
Further production performance improvements are expected now that stainless steel packing is installed in
both absorbers and the chemical clean-in-place system is in operation. The strong performance of the
sulphur removal system has allowed the Company to defer the replacement of media in the polisher unit
until after the 2025 winter season.
Amplitude Energy continues to progress initiatives to increase nameplate capacity of the OGPP beyond 68
TJ/day, with outcomes expected in coming months.
Sole Reserves
Amplitude Energy is in the process of finalising the FY25 year-end Sole Reserves position. More consistent
performance from OGPP throughout FY25 has provided high quality production data that shows the Sole
field is performing above the Company’s expectations. Further reservoir modelling, including history
matching of the Sole field subsurface models to the production data, provides increased confidence in the
model forecasts. This work, which is ongoing and remains subject to further review and third-party
verification, implies potential upwards revisions to the previously-disclosed FY24 Expected Ultimate
Recoverable (EUR) volumes at the 1P and 2P levels and a slight downwards revision in EUR at the 3P level.
Amplitude Energy will finalise and release its FY25 Reserves and Contingent Resources statement together
with its FY25 full year results in August.
Increased confidence in Sole field performance allows the company to consider offering additional gas
volumes of around 20 PJ on a firm basis later this decade when Southeast Australian domestic gas supply is
expected to be extremely tight.
Gas contracting
Strong OGPP production has allowed Amplitude Energy to consider additional short-term gas sales
agreements with the objective of maximising overall realised gas prices and balancing exposure to spot gas
prices. Consistent with this, Amplitude Energy has contracted supply of 0.7 PJs over the remainder of
calendar year 2025 at a price consistent with current short-term market prices1
.
ECSP update
The Transocean Equinox semi-submersible rig has commenced its planned work programme with the other
operators in the Otway Basin rig consortium. Amplitude Energy expects to receive the rig for the first East
Coast Supply Project (ECSP) well, the Elanora well with the Isabella side-track, in the 2025 December
Quarter.
Amplitude Energy understands incoming ECSP JV partner O.G. Energy has made progress with certain
transaction approvals for the Otway Sale Transaction with Mitsui (refer Amplitude Energy announcement
on 24 March 2025 titled Execution of Otway Basin Joint Venture Agreements) and is progressing through
the remaining approvals. Amplitude Energy recently commenced marketing of ECSP gas contracts.
Amplitude Energy is pleased that its Athena Supply Project environment plan (EP) has been accepted,
allowing the commencement of the Equinox’s rig activities for the JV.
