Amplitude's Production Growth, Spot Gas Pricing Seen as Key Catalysts, Euroz Hartleys Says

MT Newswires Live

04/15

Amplitude Energy (ASX:AEL) production growth and strong spot gas pricing are expected to be the key catalysts for the company's performance, according to a Tuesday note by Euroz Hartleys.

On Tuesday, the company said it produced 6.1 petajoules equivalent (PJe) in the fiscal third quarter ended March, compared with 5.74 PJe in the year-ago period and 6.67 PJe in the prior quarter.

The company also said sales revenue was AU$63.4 million, up from AU$55.9 million in the same period a year earlier.

Euroz Hartleys speculates that the company may increase its guidance due to this strong production performance.

Additionally, peak winter spot gas prices could further drive revenue growth.

Euroz has a speculative buy rating and a price target of AU$0.36 on Amplitude Energy.

Shares of the company rose 3% at market close.

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