Amplitude Energy Starts Drilling at Exploration Well Located Off Victoria's Coast

MT Newswires Live09:52

Amplitude Energy (ASX:AEL) said it started drilling at the Juliet-1 exploration well located off the coast of Victoria as part of its East Coast Supply Project campaign, according to a Monday filing with the Australian bourse.

Amplitude holds a 50% interest in the VIC/L24 permit, which contains the Juliet prospect, with the remaining 50% held by joint venture partner O.G. Energy, per the filing.

Juliet-1 is expected to take 20 to 25 days to drill to a planned maximum total depth of around 2,300 meters true vertical depth subsea. The well is targeting 48.8 billion cubic feet in gross mean prospective resource from a Waarre C reservoir target, the company said.

Its shares fell 1% in recent Monday trade.

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