• Isabella sidetrack flow test complete: results do not support commercial development
• East Coast Supply Project ('ECSP') plans remain unchanged
• Drilling programme remains within budget: continued safe execution

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 was being drilled as a planned sidetrack ('ST-1') from the earlier Elanora-1 well. The ST-1 well intersected gas in the primary Waarre C reservoir target, but pressure depletion during the testing period does not support a commercial development of the Isabella field in the present location. The ST-1 well will now be plugged and abandoned. Despite this result, Amplitude Energy's East Coast Supply Project ('ECSP') plans remain unchanged, with the next well expected to be drilled in H2 CY2026. The Elanora-1/ST-1 well programme remains within the company's budget, and a final investment decision for the development phase of the ECSP will be deferred to follow the drilling of subsequent wells. Amplitude Energy will assess the Elanora & Isabella drilling and flow test data over the coming months to inform its future exploration prospects.

The result at Isabella does not impact Amplitude Energy's view on the probability of success of other Otway Basin exploration prospects, which have simpler geology. The company's East Coast Supply Project plans remain unchanged, with the next well expected to be drilled in H2 CY2026.