Amplitude Energy has provided an update on Annie-2 well drilling operations. Annie-2 reached a total depth of 2,253m MD1 on 28 October 2026.
The Annie-2 well has been successfully cased and completed with a sub-sea tree, and a clean-up of the well was undertaken on 9-10 November 2026. Data collected from Annie-2 to date confirms the excellent quality of the reservoir and indicates a significant improvement in permeability, porosity and deliverability compared to the initial discovery. Gas composition samples are consistent with the original Annie discovery.
The well is now being suspended, to be made ready for development as part of the East Coast Supply Project (ECSP).
The Annie-2 well programme is currently well ahead of schedule and budget. None of the general contingency budgeted for the ECSP drilling programme has been consumed to date.
Updated technical information required by ASX Listing Rule 5.30 is provided in the Appendix to this announcement.
Operations at Annie-2 are expected to complete this week, with the Transocean Equinox rig then moving to the Nestor exploration prospect to drill the final well in the ECSP drilling campaign.
Managing Director and CEO Jane Norman commented that 'It is exciting to see preliminary results from Annie indicate upside to our estimates from the initial discovery. Work on both Annie and Juliet Reserve estimates will continue over coming weeks, with results to date consistent with, or above, Amplitude Energy’s pre-drill volume expectations. This potentially provides an even stronger resource base for the ECSP, with further upside possible from success at the upcoming Nestor exploration well.
'It is also very pleasing to see excellent safety, environmental and cost performance during the drilling of Juliet and Annie. Costs to date are well below budget for both wells.'
Annie Background
Annie-2 is a development well located in permit VIC/L37 within Commonwealth waters, around 10km north of its planned tie-in point to the existing CHN pipeline. The Annie discovery was made in 2019, with the original Annie-1 well discovering a high-quality, gas-bearing Waarre C reservoir. Amplitude Energy has recorded a gross Contingent Resource of 65 PJ (32.4 PJ net to AEL) for Annie on a 2C basis2 . Amplitude Energy holds a 50% interest in VIC/L37, with the remaining 50% held by joint venture parter O.G. Energy.
Original announcement link
Source: Amplitude Energy
