Amplitude Energy’s $150M Raise Sets High Stakes for Project Execution

Equity Raising Completion Marks a Strategic Milestone

Amplitude Energy Limited (ASX – AEL) has announced the successful completion of its fully underwritten $150 million equity raising, a significant capital injection aimed at accelerating growth initiatives. The retail entitlement offer component alone raised approximately $19 million, closing on October 9, 2025. This milestone follows the earlier institutional placement and entitlement offer, collectively underscoring strong investor confidence in Amplitude’s strategic direction.

Fueling Expansion of the East Coast Supply Project

The proceeds from this equity raising will primarily support the expansion of the East Coast Supply Project (ECSP), with a particular focus on advancing the Nestor prospect. This move aligns with Amplitude Energy’s broader ambition to enhance its footprint in the Southeast Australian gas market, leveraging existing offshore gas fields and onshore processing infrastructure. The ECSP expansion is expected to bolster the company’s supply capabilities and market position amid tightening domestic gas demand.

Restarting Patricia Baleen – A Growth Opportunity

Beyond the ECSP, the capital raise also targets other accretive growth opportunities, notably the potential restart of the Patricia Baleen project. This initiative reflects Amplitude’s strategy to maximise value from its portfolio by reactivating assets that can contribute to near-term production and revenue. The company’s Managing Director and CEO, Jane Norman, emphasized that these projects are central to driving shareholder value and operational momentum.

Share Issuance and Market Impact

Settlement of the retail entitlement offer is scheduled for October 15, with new shares expected to be issued on October 16 and commence trading on the ASX from October 17. Eligible shareholders who participated in the retail offer, including those applying for additional shares under the oversubscription facility, will see their allocations reflected shortly. The new shares will rank equally with existing ordinary shares, maintaining shareholder equity balance.

Advisory and Underwriting Support

Euroz Hartleys Limited and Macquarie Capital (Australia) Limited acted as joint lead managers and underwriters, while Rothschild & Co provided financial advisory services. Legal counsel was provided by Ashurst. Their involvement highlights the complexity and scale of the transaction, ensuring robust execution and market confidence.