2259 GMT [Dow Jones]--Amplitude Energy's A$150 million capital raising looks sensible to Bell Potter. That's because Amplitude's capex commitments will rise after management expanded a drilling program to support its East Coast Supply Project and signaled the potential restart of the Patricia Baleen field in southeastern Australia. Bell Potter says drilling a fourth well, specifically to target the Nestor deposit, could take ECSP capex to A$485 million-A$580 million. "We see the Nestor option further de-risking the ECSP through a portfolio effect," analyst Stuart Howe says. Bell Potter retains a buy call on Amplitude, and trims its price target by 3.4% to A$0.28/Share. Amplitude ended Wednesday at A$0.235. (david.winning@wsj.com)
(END) Dow Jones Newswires
September 24, 2025 19:04 ET (23:04 GMT)
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