Amplitude Energy Limited (AEL: ASX) has announced an update on its drilling operations at the Elanora-1 exploration well in the Offshore Otway Basin, Victoria. Amplitude Energy is an Australian gas production company focused on supplying the Southeast domestic gas market. The Company owns and operates offshore gas fields in Commonwealth waters and onshore processing plants in the Otway and Gippsland Basins. The Elanora-1 well, located in permit VIC/L24 within Commonwealth waters approximately 6km south-west of the Casino, Henry, Netherby pipeline tie-in point, reached its planned Total Depth (TD) of 1,857 metres TVDSS on February 10, 2026. Amplitude Energy holds a 50% interest in VIC/L24 and serves as operator, with O.G. Energy holding the remaining 50% interest.
The 8 ½-inch hole section penetrated the primary Waarre A reservoir target. Preliminary drilling and logging data indicated no elevated gas readings within this target, which was intersected at 1,766 metres TVDSS. The reservoir is interpreted to be water-bearing. The drilling reached TD safely and ahead of schedule, taking only 15 days from the spud date.
Following these results, Amplitude Energy plans to plug the Elanora-1 well and proceed with a sidetrack into the Isabella prospect, also within the VIC/L24 permit, which is expected to take approximately 14-18 days. Managing Director and CEO Jane Norman stated that while the Elanora result is disappointing, the company will continue the East Coast Supply Project (ECSP) campaign with the Isabella prospect. If the sidetrack proves successful, Logging While Drilling (LWD) will be conducted immediately to assess the gas composition and reservoir quality.
In the event of success at Isabella, the sidetrack is planned to be cased and completed with a sub-sea tree, incorporating a flow test, and then suspended ready for development as part of the ECSP. Norman stated that the Elanora results do not impact their view of the probability of success of Waarre C sands targets such as Isabella, Juliet or Nestor.
