• Preliminary data from ST-1 well indicates high deliverability and low CO2 levels in the Isabella reservoir
• Gas water contact interpreted as being below the Waarre C reservoir intersection, suggesting potential for a larger gas accumulation
• Casing and completion of ST-1 well, followed by a flow test, to be conducted over approximately two weeks

Amplitude Energy Limited (AEL: ASX, 'Amplitude Energy' or 'the Company') provides 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 ST-1 well, drilled as a planned sidetrack from the earlier Elanora-1 well, has penetrated the primary Waarre C reservoir target. Preliminary data collected from ST-1 indicates high deliverability and low CO2 levels (estimated at approximately 5 mol%) in the Isabella reservoir. The gas water contact is currently interpreted as being below the Waarre C reservoir intersection, suggesting potential for a larger gas accumulation than that implied by the Waarre C reservoir intersection alone. The Joint Venture has approved the casing and completion of ST-1, followed by a flow test to inform resource volume estimates and further laboratory analysis to confirm gas composition. These activities are expected to be completed over approximately two weeks. A final decision regarding the development of the Isabella prospect will be made following evaluation of the flow test and gas composition data. Should the information not support commercial development, the well will be plugged and abandoned.