Amplitude Energy (ASX:AEL), a dedicated southeastern Australian gas producer, is likely to benefit from the growing shortage in the East Coast domestic gas market, according to a Friday note by Euroz Hartleys.
The financial services firm believes that the finalization of Amplitude's negotiations with OG Energy, coupled with details about its East Coast Supply Project (ECSP) costs, timing, and funding, should serve as a major catalyst to the company's share price.
Additionally, sustained production at current rates could further boost the company's outlook, Euroz Hartleys said.
The firm noted that AEL's current run rate of 73.5 terajoules per day (TJ/day) exceeds its guidance range of 65 to 72 TJ/day despite an upcoming planned seven-day maintenance shutdown.
Euroz Hartlyes maintained a buy rating and price target of AU$0.36 on Amplitude Energy.
Amplitude Energy's shares rose almost 4% in recent Friday trade.
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