Amplitude Energy Ltd. has intersected a high-quality gas-bearing reservoir at its Juliet-1 exploration well in the Offshore Otway Basin in Victoria, delivering a major boost to domestic gas supply prospects.
Located in permit VIC/L24 within Commonwealth waters, the well reached a total depth of 2,299 metres sub-sea on September 7. Drilling operations were completed safely and without material incidents, running ahead of schedule and under budget.
Preliminary logging and drilling data confirmed elevated gas readings in the primary target, the Waarre C reservoir, at a depth of 2,129 metres.
The reservoir exhibits a gross gas-bearing interval of at least 60 metres, featuring 49 metres of interpreted high-quality net pay.
The gas-water contact is currently interpreted to be below total depth, with initial results matching pre-drill expectations for thickness and reservoir quality.
Amplitude Energy operates and holds a 50 per cent interest in VIC/L24, alongside joint venture partner O.G. Energy, which holds the remaining 50 per cent.
The well sits adjacent to the existing Casino, Henry, and Netherby pipeline, offering a direct pathway to market for future development.
The company will now conduct wireline logging operations over the coming days to collect pressure data, fluid samples, and initial gas composition details required to estimate potential resource volumes.
Following wireline logging, a decision will be made on completing and cleaning up the well prior to suspension. Information from the clean-up phase will confirm reservoir deliverability and inform laboratory analysis of gas composition over the next two weeks.
If commercialised, the discovery could provide long-term domestic gas supplies to Australia’s East Coast and South East markets, where Amplitude Energy already operates offshore fields and onshore processing plants in close proximity to major industrial demand centres.
