• Sidetrack well (ST-1) into Isabella prospect in Offshore Otway Basin penetrated Waarre C reservoir
• Preliminary data indicates elevated gas readings and resistivity consistent with hydrocarbon presence
• Gross gas-bearing interval of approximately 10.7 metres, including 8.2 metres of interpreted high quality net pay

Amplitude Energy Limited (AEL: ASX) has provided an update on drilling operations at the Isabella prospect in the Offshore Otway Basin, Victoria. The Isabella field is located in permit VIC/L24 within Commonwealth waters, south-west of the producing Casino field. Amplitude Energy is the operator and 50% interest holder in VIC/L24, with O.G. Energy holding the remaining 50% interest. The Isabella field is being drilled via a sidetrack ('ST-1') from the earlier Elanora-1 well. The ST-1 8 ½-inch hole section penetrated the primary Waarre C reservoir target and safely reached the planned Total Depth (TD) of 1,788 metres TVDSS at 04:30 AEST on 1 March 2026. Preliminary drilling and logging data recorded elevated gas readings in the Waarre C reservoir (intersected at 1,738 metres TVDSS). These gas peaks coincide with elevated resistivity readings observed on Logging While Drilling (LWD) tools, consistent with probable hydrocarbon presence. The Waarre C sandstone exhibits a gross gas-bearing interval of approximately 10.7 metres, including 8.2 metres of interpreted high quality net pay, in line with other Waarre C in offset fields. Further wireline logging operations are planned to collect pressure and sample data required to inform resource volume estimates and determine gas composition. A decision on whether ST-1 will be completed with a sub-sea tree will then be made. Should the well be completed, a flow test will be conducted and the well suspended, ready for development as part of the ECSP.