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Amplitude Energy ( (AU:AEL) ) has issued an update.
Amplitude Energy Limited announced the completion of the Otway Sale Transaction, where O.G. Energy acquired Mitsui E&P Australia’s interests in the Offshore Otway Basin. This transaction initiates O.G. Energy’s reimbursement of 50% of historical East Coast Supply Project costs to Amplitude Energy, amounting to approximately A$28 million. This development is significant for Amplitude Energy as it strengthens its financial position and operational capacity in the Southeast domestic gas market, potentially enhancing its industry positioning and stakeholder value.
The most recent analyst rating on (AU:AEL) stock is a Buy with a A$0.34 price target. To see the full list of analyst forecasts on Amplitude Energy stock, see the AU:AEL Stock Forecast page.
More about Amplitude Energy
Amplitude Energy Limited is an Australian gas production company focused on supplying the Southeast domestic gas market. The company operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins, close to Australia’s largest gas demand centers. It also has non-operated oil production in the Cooper Basin and holds a portfolio of long-term customer gas supply contracts, while maintaining exposure to the tight Australian East Coast spot gas markets. Additionally, Amplitude Energy possesses an extensive portfolio of exploration and development prospects in the Otway and Gippsland Basins, including undeveloped discovered resources like the Annie and Manta gas fields.
Average Trading Volume: 3,896,561
Technical Sentiment Signal: Buy
Current Market Cap: A$676.1M
See more data about AEL stock on TipRanks’ Stock Analysis page.