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The latest update is out from Amplitude Energy ( (AU:AEL) ).
Amplitude Energy and joint venture partner O.G. Energy have signed a binding Foundation Gas Sales Agreement with EnergyAustralia for gas from the East Coast Supply Project. The deal covers 30 petajoules of gas over four years at a fixed price indexed to CPI, with supply targeted from the second half of 2028.
The agreement, which is subject to exploration success and a final investment decision on the project, underscores strong demand for reliable domestic gas in Southeast Australia. Amplitude is in advanced talks with additional potential customers for further foundation contracts, bolstering the commercial underpinning of the East Coast Supply Project and reinforcing its role as a key regional gas supplier.
The most recent analyst rating on (AU:AEL) stock is a Hold with a A$2.50 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. It owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins near major demand centres, as well as non-operated oil production in the Cooper Basin and a portfolio of long-term gas contracts and exploration prospects.
YTD Price Performance: -12.67%
Average Trading Volume: 1,051,135
Technical Sentiment Signal: Hold
Current Market Cap: A$764.7M
Learn more about AEL stock on TipRanks’ Stock Analysis page.