Amplitude Energy Holds Upside Potential on Sustained Orbost Production, Says Euroz Hartleys

MT Newswires Live

07/17

Amplitude Energy (ASX:AEL) could see potential upgrades if strong production levels at its Orbost gas plant persist, Euroz Hartleys said in a note on Thursday.

Greater policy certainty around the Federal Government's gas reservation scheme, along with success at its Juliet exploration well, could improve market sentiment and support a re-rating from current share price levels.

Investors are closely watching developments related to the East Coast Supply Project, with a Final Investment Decision targeted for the first quarter of fiscal 2027. The project is expected to strengthen Amplitude Energy's earnings by utilizing spare capacity at the Athena Gas Plant.

Euroz Hartleys reaffirmed a buy rating but lowered the price target to AU$3.03 from AU$3.10.

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