2307 GMT [Dow Jones]--Investors appear to underestimate the scale and significance of drilling efforts in southeastern Australia's Otway Basin, Euroz Hartleys says. The exploration campaign has the potential to add natural-gas supply to the east coast market where concerns remain around potential shortfalls. Analyst Declan Bonnick says the Otway Basin also has a proven track record in terms of discoveries. Euroz Hartleys says more than A$1 billion of investment is likely in the basin in the next two years. That makes it one of the largest offshore exploration and development programs in Australia's history. It has buy calls on Beach Energy and Amplitude Energy, and a speculative buy call on 3D Energi. "For Beach Energy exploration success would be incremental but meaningful, for Amplitude Energy and 3D Energi it could be transformational," Euroz Hartleys says. (david.winning@wsj.com)

(END) Dow Jones Newswires

September 15, 2025 19:13 ET (23:13 GMT)

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