0035 GMT - Net debt was the positive standout in Amplitude Energy's 3Q report. Ord Minnett says net debt of A$39.2 million at end-March was less than the A$68 million it had forecast. Analyst Tim Elder said inspections of Amplitude's Sole and Patricia Baleen assets were under budget and the company made lower restoration payments than assumed. Ord Minnett had a buy rating and A$2.75/share price target on Amplitude ahead of the 3Q update. It is bullish about the growth outlook, forecasting a 51% rise in Ebitda by FY 2028. "We expect the stock to re-rate with upcoming exploration success in the Otway Basin," Ord Minnett says. Amplitude is down 2.6% at A$1.70, with weakness across the energy sector reflecting weekend developments in the Middle East conflict. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 19, 2026 20:35 ET (00:35 GMT)
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