2229 GMT - Amplitude Energy's drilling program in southeastern Australia's Otway Basin gets a tick from Wilsons analyst James Karakatsanis. "Although the capex is relatively high for this quantum of gas volumes, they attract premium sales prices," Wilsons says. The 3-well approach comes with significant savings compared to a less ambitious program, the bank says. The targets are close to infrastructure, and are medium to low-risk opportunities, it contends. Also, Australia's east coast is short on gas supply. Any discoveries could fetch a price in the range of A$14-21/GJ, which Wilsons considers impressive. Wilsons downgrades Amplitude Energy to market weight, from overweight, as the stock rallies toward its A$0.24/share price target. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
March 24, 2025 18:29 ET (22:29 GMT)
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