Fund Manager Summary
The fund managers believe that there is a significant upside potential in Amplitude Energy Ltd, particularly with the upcoming announcement of a new JV partner for their Otway Basin gas growth project. In their opinion, this strategic move could enhance the company's market position and drive future growth. The recent increase in shareholding by Ryder Capital, coinciding with the share price at approximately $0.21, reflects their confidence in the company’s long-term prospects. Overall, the fund managers view this investment as a promising opportunity within the energy sector.
Source: Trading View
Commentary From The Managers
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Balmoral Investors
4 Dec 2025
$2.84
Summary
- Balmoral Investors sees significant potential in Amplitude Energy Ltd due to its catalyst-rich environment.
- As an east coast gas producer, Amplitude is well-positioned to benefit from rising gas prices.
- The company is involved in exploration in the Otway and is experiencing improving volumes from its Orbost gas plant.
- There is a growing recognition among regulators and politicians that gas is a crucial fuel for the economy, beyond just a transition fuel.
- With existing gas fields depleting and a lack of investment, Amplitude could face much higher gas prices.
- Amplitude holds strategic value in its existing gas plants in Victoria, especially given the difficulty in obtaining approvals for new infrastructure.
- The current Otway drill program by ConocoPhillips shows promise, though processing options are limited, highlighting the value of Amplitude's Athena gas plant.
- Amplitude Energy has a strong management team that has successfully turned the business around and reset its cash-generating base.
- A recent capital raising has positioned the company favorably for future growth.
- The stock is viewed as attractively priced, with contracted volumes and potential upside to gas prices.
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Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
Commentary From The Managers
Balmoral Investors
4 Dec 2025
$2.84
- Balmoral Investors sees significant potential in Amplitude Energy Ltd due to its catalyst-rich environment.
- As an east coast gas producer, Amplitude is well-positioned to benefit from rising gas prices.
- The company is involved in exploration in the Otway and is experiencing improving volumes from its Orbost gas plant.
- There is a growing recognition among regulators and politicians that gas is a crucial fuel for the economy, beyond just a transition fuel.
- With existing gas fields depleting and a lack of investment, Amplitude could face much higher gas prices.
- Amplitude holds strategic value in its existing gas plants in Victoria, especially given the difficulty in obtaining approvals for new infrastructure.
- The current Otway drill program by ConocoPhillips shows promise, though processing options are limited, highlighting the value of Amplitude's Athena gas plant.
- Amplitude Energy has a strong management team that has successfully turned the business around and reset its cash-generating base.
- A recent capital raising has positioned the company favorably for future growth.
- The stock is viewed as attractively priced, with contracted volumes and potential upside to gas prices.
Summary
Firetrail Investments
31 July 2025
$0.26
- Amplitude Energy has shown strong performance recently, particularly after a quarterly report.
- The report indicated strong underlying cash generation and production levels.
- Firetrail Investments notes a supportive macro environment for gas, with policymakers acknowledging its importance.
- The Clean Energy Council has adopted a more pragmatic approach regarding the role of gas in energy policy.
- Firetrail Investments continues to hold its position in Amplitude Energy due to these favorable developments.
Summary
Cadence Capital
31 July 2025
$0.26
- Amplitude Energy shares showed strong performance in July, following record quarterly production of 77.1 TJ/day in Q4.
- This production drove FY25 production to the upper end of the company’s guidance range.
- FY25 guidance has been increased twice, reflecting positive operational performance.
- Revenue for the full year reached $268m, which is 22% above the previous year, driven by increased production and higher gas prices.
- The East Coast Supply Project presents significant growth opportunities, targeting up to 90 TJ/day of additional gas by 2028.
- Amplitude Energy is currently valued at an FY26 PE of 12x with a PEG ratio of 0.6.
Summary
SG Hiscock & Company
31 July 2025
$0.26
- Amplitude Energy reported a 21.4% increase in operating results for the June quarter.
- Record production achieved at the Orbust gas plant, resolving longstanding operational issues.
- The plant is now operating at nameplate capacity, with potential for further improvement through de-bottling initiatives.
- Opportunity to resell sulphur to farmers, reducing waste treatment costs.
- Progress is being made to revive the Patricia Baleen field in the Gippsland Basin for tail gas production.
- Utilization of petroleum resource rent tax (PRRT) credits is a potential advantage.
- A planned exploration campaign in the Otway basin is set to begin in late 2025, focusing on the Elanora field.
- This exploration is viewed as relatively low risk with potential for resource upside.
- SG Hiscock & Company continues to hold shares in Amplitude Energy due to these positive developments.
Summary
Ryder Capital
31 Mar 2025
$0.21
- Ryder Capital has increased its holdings in Amplitude Energy.
- Investment was made in anticipation of a significant announcement regarding a new JV partner.
- This development is focused on the Otway Basin gas growth project.
- Continued optimism surrounds the potential impact of this partnership.
Summary
Please note: The completeness, accuracy or current status of the investments referenced are not guaranteed.
ANALYST INSIGHT
Equity Research Analyst
"With the buzz surrounding a potential JV partner for the Otway Basin gas project, it seems Amplitude Energy could be on the brink of a transformative leap, making our recent investment feel like a timely bet on the future."
Last Updated: 31 Jul 2025
Query The Data
Frequently Asked Questions
Who is investing in Amplitude Energy Ltd (ASX:AEL)?
Fund managers including Ryder Capital, Firetrail Investments , SG Hiscock & Company and Cadence Capital have invested in Amplitude Energy Ltd (ASX:AEL).
Why do fund managers invest in Amplitude Energy Ltd?
Fund managers are investing in Amplitude Energy Ltd due to the company's strategic developments, particularly the upcoming announcement of a new joint venture partner for its Otway Basin gas growth project, which is expected to enhance growth potential and drive shareholder value.
What happened to Amplitude Energy Ltd (ASX:AEL)?
Fund managers are investing in Amplitude Energy Ltd due to its strong quarterly performance, highlighted by record production levels and significant cash generation. The company's operational improvements at the Orbust gas plant and upcoming exploration initiatives in the Otway basin present low-risk growth opportunities. Additionally, supportive government policies for gas and increased revenue projections further enhance its investment appeal.