Key Highlights

  • Amplitude Energy Limited (ASX:AEL) reported on its 2026 operating activities, financial position and project developments. Its recent disclosures address quarterly record output, Operating Revenue and development work on the East Coast Supply Project.
  • The company recorded production of 7.51 petajoules equivalent (PJe) in the September quarter of FY27.
  • The East Coast Supply Project reached a final Investment decision for its development phase following the Juliet gas discovery.
  • The company reported quarterly sales revenue of AUD 83.3 million, up 18% QoQ and 19% YoY.
  • Cash and cash equivalents stood at AUD 144.2 million at 30 September 2026, while net Debt was AUD 31.0 million.

Amplitude Energy Limited (ASX:AEL) produces and sells Natural Gas and oil from Australian energy assets, while advancing the East Coast Supply Project in the Otway Basin. Its shares were quoted at AUD 1.850, down 0.80%, on 4 November 2026. The latest operating results cover a record quarter for production and revenue alongside further work on domestic gas development.

In its Quarterly Report released on 19 October 2026, the company recorded 7.51 PJe of production and AUD 83.3 million in sales revenue for Q1 FY27. It also outlined progress at the Orbost Gas Processing Plant and the development decision following the Juliet gas discovery.

Quarterly Production and Sales

The company recorded production of 7.51 petajoules equivalent (PJe) in the September quarter of FY27. The figure was 10% above the June quarter and 9% above the September quarter of FY26. Total sales volumes reached 7.53 PJe, an 11% increase on both the preceding and corresponding quarters. The output covered natural gas and oil production across its Australian interests.

Revenue for the company reached AUD 83.3 million, compared with AUD 70.3 million in the preceding quarter and AUD 69.9 million a year earlier. The reported increases were 18% quarter on quarter and 19% year on year. Its average realised gas price was AUD 10.69 per gigajoule, rising 4% from the June quarter and 5% from the September 2025 quarter.

Sole produced 6.60 PJ of gas.

Operations Beyond the Principal Asset

In the Otway Basin, the company reported 0.78 PJ of gas production from the Casino, Henry and Netherby fields, net to its 50% interest. This represented an 11% quarterly increase and included a full-quarter contribution from the restarted Casino-4 well. The company also reported 0.92 thousand barrels of condensate from the Otway Basin.

Cooper Basin oil output attributable to the company reached 20.4 thousand barrels, up 3% on the June quarter. The company holds a 25% interest in those assets. It attributed the period’s output to production optimisation and contributions from three new Callawonga wells, giving the quarterly results a broader operational base than the Sole gas field alone.

East Coast Supply Project

The East Coast Supply Project reached a final investment decision for its development phase following the Juliet gas discovery. The development is based on the Annie, Juliet and Artisan resources and envisages gross production of up to 90 TJ per day through the Athena Gas Plant from 2028. That figure is a project target, not production already achieved.

The company also sanctioned the Nestor exploration well as a potential extension of the East Coast Supply Project. Development drilling, contracting and subsea installation remained central workstreams. The company stated that approximately 70% of total project Capital Expenditure was expected to be incurred by the end of the drilling campaign in calendar 2026, with a material share of remaining subsea work under fixed-price contracts.

Key Insights

Cash and cash equivalents stood at AUD 144.2 million at the end of September, compared with AUD 137.5 million at June. Net debt declined from AUD 37.7 million to AUD 31.0 million. The reduction occurred in a period of elevated spending on development activities. The company therefore finished the quarter with record output, higher reported revenue and a smaller net-debt balance.

The operating record and project milestones are separate measures of progress. Existing production underpins the reported quarterly revenue, while the East Coast Supply Project remains subject to construction, commissioning and future delivery requirements. The company continues to operate across established basins while working toward development of additional domestic gas supply.