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ASX:AEL

11 stories mentioning ASX:AEL

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Asia

Beach Energy Well-Positioned to Pursue Growth Options After 'Sensible Divestment' of Artisan Gas Field Stake, Euroz Hartleys Says

Beach Energy's (ASX:BPT) sale of its 60% stake in the Artisan gas field offshore the Otway Basin in Victoria is a "sensible divestment" and a "rare win-win" deal, Euroz Hartleys said in a Monday note.Beach Energy agreed to sell a 50% interest in the gas field to Amplitude Energy (ASX:AEL) and a 10% interest to O.G. Energy to align both acquirers' overall interest at 50% each.The company also said the La Bella-2 development well will not be drilled, and forecast more than AU$500 million of capital expenditure savings as a result of not pursuing developments at Artisan and La Bella.Amplitude Energy's involvement eliminates the risk of exploration outcomes resulting in the need for expensive carbon dioxide processing capability, while Beach Energy retains future exposure to production through a royalty, Euroz Hartleys said.Given Beach Energy's AU$974 million of liquidity at the close of the fiscal third quarter, the deal provides pro-forma liquidity in excess of AU$1 billion, positioning the company well to pursue inorganic growth of scale in the near-term, the equity research firm said.Euroz Hartleys maintained a hold recommendation on Beach Energy while lowering the price target to AU$1.12 per share from AU$1.15 based on an updated sum-of-the-parts valuation.

ASX:AELASX:BPT
Asia

Amplitude Energy Acquisition of 50% of Artisan Gas Field De-Risks Otway Growth Outlook, Euroz Hartleys Says

Amplitude Energy's (ASX:AEL) acquisition of 50% of the Artisan gas field in the offshore Otway Basin from Beach Energy (ASX:BPT) de-risks the Otway growth outlook for the company, Euroz Hartleys said in a Monday note.O.G. Energy, Amplitude Energy's joint venture partner in the Otway, agreed to acquire a 10% interest in the gas field on the same terms as the company, aligning interests at 50% each.The company's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million on completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production.The company can blend Artisan gas field's low-impurity gas with that of the Annie field to meet pipeline standards through the acquisition, saving an estimated AU$100 million in processing infrastructure costs, the financial services firm said.Additionally, the company is buying a de-risked completed production well that is ready to tie-in to its existing operated infrastructure.Euroz Hartleys maintained a buy recommendation on Amplitude Energy while its AU$3.40 price target is under review.Amplitude Energy shares rose more than 2% in afternoon trade on Monday, while Beach Energy shares were down 2%.

ASX:AELASX:BPT
Asia

ASX Preview: Australian Shares Set to Fall on US-Iran Talks Uncertainty; Charter Hall Group Raises Fiscal 2026 Guidance for Operating Earnings

Australian shares are poised to fall on Monday as investors weigh renewed uncertainty over US-Iran talks, with progress on a potential deal to reopen the Strait of Hormuz and address Iran's nuclear program still unclear.Sentiment is also being pressured by a sharp slide in oil prices amid concerns that escalating tensions in the Middle East could still disrupt global shipping routes and weigh on growth.On May 22, the S&P 500, the Nasdaq Composite, and the Dow Jones Industrial Average rose 0.4%, 0.2%, and 0.6%, respectively.In corporate news, Charter Hall Group (ASX:CHC) increased its fiscal year 2026 guidance for operating earnings to AU$1.03 per security from AU$1 previously.Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL).Australia's benchmark index rose 0.4% or 35.3 points to close at 8,657 on May 22.

ASX 200ASX:AELASX:BPTASX:CHC
Asia

Beach Energy Agrees to Sell 50% Stake in Artisan Gas Field

Beach Energy (ASX:BPT) agreed to sell its 50% interest in VIC/L35, containing the Artisan gas field in the offshore Otway Basin, to Amplitude Energy (ASX:AEL), according to a Monday filing with the Australian bourse.Additionally, O.G. Energy agreed to acquire a 10% interest in the gas field on the same terms as Amplitude Energy, aligning interests at 50% each, the filing said.Amplitude Energy's net share of the acquisition consideration consists of an upfront cash payment of AU$58.3 million upon completion of the agreement, with a royalty of AU$3.75 per gigajoule on its share of future production, per the filing.

ASX:AELASX:BPT
Asia

Amplitude Energy Secures Production License for Victoria Gas Field

Amplitude Energy (ASX:AEL) has secured the production license VIC/L37 covering the Annie gas field, with plans to commence first gas production by 2028, according to a Thursday Australian bourse filing.Gas from the field is expected to be supplied to Australia's east coast domestic market for local consumers, the filing added.The company's shares rose 2% in recent Thursday trade.

ASX:AEL
Asia

Amplitude Energy Represents Compelling Buying Opportunity at Current Share Price, Euroz Hartleys Says

Amplitude Energy (ASX:AEL) is expected to deliver record performance in the fiscal fourth quarter and represents a compelling buying opportunity at its current share price, Euroz Hartleys said in a Monday note.The equity research firm said it expects the company to perform well in fiscal Q4 due to continued production de-bottlenecking at its Orbost gas asset in Victoria, incremental production from other basins, including new Callawonga oil wells in the Cooper Basin, as well as an expected rise in spot gas prices.Euroz Hartleys forecasts fiscal Q4 production of 7 petajoules equivalent and revenue of AU$86.7 million for Amplitude. It also lowered its forecast for the company's fiscal year capital expenditure to AU$136 million, resulting in a lower estimated year-end net debt position.Additionally, Euroz Hartleys said it maintains high confidence in the phase two outcomes of the company's East Coast Supply Project, given its "location in the core producing area of the Otway Basin and compelling geophysical signatures/simple trapping geometries of the targets."The equity research firm maintained a buy recommendation on the company and raised its price target to AU$3.40 per share from AU$3.25, reflecting an updated risked sum-of-the-parts valuation.Shares of Amplitude Energy were down 1% in recent Monday trade.

ASX:AEL
Asia

Amplitude Energy Says Australian Retirement Trust Raises Stake

Amplitude Energy (ASX:AEL) said Australian Retirement Trust raised its stake in the firm to 6.3% as of Friday from 5.1% as of April 2, according to a Monday Australian bourse filing.Australian Retirement Trust now holds nearly 19 million votes in the firm.

ASX:AEL
Asia

Amplitude Energy's AGL Gas Sales Deal Supports Production Visibility, Euroz Hartleys Says

Amplitude Energy (ASX:AEL) strengthened its long-term production outlook after securing a foundation gas sales agreement (GSA) with AGL Energy (ASX:AGL) that lifts contracted volumes and supports valuation upside if drilling success continues, Euroz Hartleys said in an April 17 note.The company will supply 20 petajoules of gas, over four years from its East Coast Supply Project (ECSP), with deliveries starting in the second half of 2028 and pricing linked to oil and market conditions at the time of delivery.Euroz Hartleys estimates about 80% of expected production is now contracted, assuming 60 terajoules per day of gross output and completion of the remaining ECSP drilling program, including Annie field development and successful appraisal of the high-probability Juliet and Nestor prospects.The equity research firm noted that the AGL contract differs from the company's earlier Energy Australia agreement, as it is oil-linked and could deliver higher realized prices depending on oil markets over the contract term.The firm said that multiple foundation GSAs signal strong confidence in the company's drilling program and resource base, and it remains positive on valuation.Euroz Hartleys kept a buy rating on Amplitude Energy with an under review price target of AU$3.25.Amplitude Energy's shares plunged 5% in recent Monday trade, while AGL Energy's shares shed 2%.

ASX:AELASX:AGL
Asia

Amplitude Could Achieve Record Fiscal Q4 Performance With Debottlenecking at Orbost, Increased Production from Otway/Cooper Basin, Euroz Hartleys Says

Amplitude Energy's (ASX:AEL) resumption of the East Coast Supply Project drilling will be the market's primary focus in the second half, and additional upside from further debottlenecking at Orbost and increased production from Otway/Cooper Basin should result in a record fiscal 2026 fourth quarter performance, Euroz Hartleys said in a Monday note.Amplitude reported fiscal third-quarter production of 6.9 petajoules equivalent, up from 6.1 petajoules equivalent in the year-ago period. It also reported a sales volume of 6.8 petajoules equivalent for the March quarter, up from 6 petajoules equivalent a year earlier, as well as "record quarterly revenue" of AU$74.1 million, compared with AU$63.4 million in the prior-year period.The revenue was around 10% below consensus, driven by softer spot market pricing during the quarter through lower residential demand in southern markets during the summer/autumn shoulder season and increased supply flows from Queensland.The investment firm retained its buy recommendation and its AU$3.25 price target on Amplitude Energy, but placed the price target under review.Amplitude Energy's shares plunged 5% in recent Monday trade.

ASX:AEL
Asia

Amplitude Energy Reports Higher Fiscal Q3 Production, Sales; Shares Down 4%

Amplitude Energy (ASX:AEL) reported fiscal third-quarter production of 6.9 petajoules equivalent, up from 6.1 petajoules equivalent in the year-ago period, according to a Monday filing with the Australian bourse.The company also reported a sales volume of 6.8 petajoules equivalent for the March quarter, up from 6 petajoules equivalent a year earlier, as well as "record quarterly revenue" of AU$74.1 million, compared with AU$63.4 million in the prior-year period.The production capacity for Amplitude's Orbost Gas processing plant in Victoria has increased with successful production trials above previous nameplate capacity, and further production improvement is expected in the fiscal fourth quarter, the company said.It has also completed maintenance at the Otway Basin and development work at the Cooper Basin, with additional gas and liquids production expected from those operations, respectively, per the filing.The company's shares were down nearly 4% in recent Monday trade.

ASX:AEL
Asia

AGL Energy Signs Gas Sales Deal With Amplitude Energy

AGL Energy (ASX:AGL) signed a foundation gas sales agreement with Amplitude Energy (AEL:ASX) for the supply of 20 petajoules of gas from the East Coast Supply Project in the offshore Otway Basin, Victoria, according to a Friday filing with the Australian bourse.The deal has an initial four-year term, with supply expected to start in the second half of 2028, the filing said.

ASX:AELASX:AGL