Amplitude Energy Passes Key Milestone with ECSP Decision
Dow Jones
Yesterday
0136 GMT - Amplitude Energy's decision to move ahead with the East Coast Supply Project represents another positive step, says Euroz Hartleys. The final investment decision on the ECSP is "a major derisking milestone," analyst Declan Bonnick says. Amplitude has also provided greater visibility around the scope of the project, the development schedule and costs. First output of natural gas from the ECSP is forecast in 2028. "The A$190 million-A$210 million development cost remains consistent with prior capex expectations and appears in-line with consensus," Euroz Hartleys says. It has a buy call and A$2.80/share price target on Amplitude, which is down 1.8% at A$1.685.
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