Amplitude Energy Advances Juliet-1 After Strong Gas Reservoir Signals
Amplitude Energy has approved completion of its Juliet-1 exploration well after preliminary testing indicated at least 49 metres of net pay, strong reservoir quality and estimated carbon dioxide below 2 mol%. The well is ahead of schedule and budget, but flow rates, gas composition and recoverable resource estimates remain outstanding.
- At least 60 metres gross pay, including 49 metres net pay
- Preliminary data indicates high deliverability and CO2 below 2 mol%
- Juliet-1 to be completed, cleaned up and suspended for potential development
- No reserves or contingent resources reported
- Further testing and gas analysis expected over approximately two weeks
Juliet-1 Moves From Exploration Toward Development
Amplitude Energy Limited (ASX:AEL) has approved completion of its Juliet-1 well offshore Victoria after preliminary formation evaluation pointed to a substantial gas-bearing interval in the Waarre C reservoir. The well encountered at least 60 metres of gross pay, including 49 metres of net pay, and the company says early data indicates excellent reservoir quality, high deliverability and estimated CO2 content below 2 mol%.
That is a meaningful operational step: Juliet-1 will be completed, cleaned up and then suspended ready for potential development through the East Coast Supply Project. The decision does not amount to a reserves declaration or a final development commitment. Amplitude said no estimate of petroleum reserves or contingent resources is being reported, while interpretation of the well data continues.
Wireline Tests Show Gas and Strong Reservoir Characteristics
The well reached a total depth of 2,199 metres true vertical depth subsea, with 17 valid pressure and sample tests conducted across zones between 2,127 and 2,186 metres. Wireline logging recovered hydrocarbon gases from the Waarre C formation sands. The company estimated carbon dioxide levels from downhole fluid analyser data, but said laboratory analysis is still required to confirm the gas composition.
No flow rate, choke size or production volume was reported at this stage. That distinction matters: the announcement describes high deliverability as an implication of preliminary data, rather than reporting a measured production test. The upcoming clean-up is intended to provide further information on reservoir deliverability and will be completed before the well is suspended.
Existing Pipeline Supports Potential Supply Route
Juliet-1 sits in permit VIC/L24 in the offshore Otway Basin, adjacent to the existing Casino, Henry and Netherby pipeline. Amplitude operates the permit and holds a 50% interest, with O.G. Energy holding the other half. That location provides an established infrastructure connection if the well ultimately progresses into the East Coast Supply Project, although the announcement does not quantify development costs, production volumes or project returns.
The drilling programme is currently ahead of schedule and budget. The next two weeks should produce the more consequential evidence: clean-up performance, additional reservoir information and laboratory confirmation of gas composition. The company also corrected a depth figure from its 8 September announcement, stating that Juliet-1 reached 2,199 metres TVDSS rather than 2,299 metres.
Bottom Line?
Juliet-1 has cleared an important technical hurdle, but the investment case still depends on measured deliverability, confirmed gas quality and how the well fits into the East Coast Supply Project’s eventual development plan.
Questions in the middle?
- What flow performance will Juliet-1 deliver during the clean-up programme?
- Will laboratory testing confirm the preliminary estimate of CO2 below 2 mol%?
- When will Amplitude convert the well result into a defined development plan or resource estimate?
