Azzet reports on three stocks with price moving updates today.
Amplitude Energy rises on promising prelim-drilling ~
Shares in Amplitude Energy (ASX: AEL) defied the sea of red dominating all sectors today by trading 2.1% higher by 2:20 pm AEDT (3:20 am GMT) after the Australian gas producer reported highly promising preliminary drilling and formation evaluation results from the Isabella prospect in the offshore Otway Basin, where it operates and holds a 50% interest alongside O.G. Energy.
It’s hoped that flow testing at its Isabella prospect (VIC/L24) following the ST-1 sidetrack will determine commercial viability after preliminary wireline data indicated high deliverability and low CO2 content.
Preliminary wireline data from the Waarre C reservoir suggest high deliverability and a low CO2 content of around 5 mol%.
Expected to take around two weeks, the flow test is expected to quantify the minimum gas volume and reservoir pressure at Isabella, aiming to de-risk its commercial potential.
Flow test results will determine if the results are commercially viable; if not, the well will be plugged and abandoned.
Early March, Amplitude secured a four-year gas sales agreement (GSA) with EnergyAustralia, which committed to purchasing 30 petajoules of gas, at a rate of 7.5 petajoules annually, from the Amplitude-led East Coast Supply Project (ECSP).
This project is expected to cost over $400 million and bolster gas supply off the Victorian coast.
Amplitude Energy is focused on developing gas supply projects, while O.G. Energy is its project partner.
While deliveries from the ECSP are expected to commence in 2H FY28, the agreed price for the gas is fixed, subject to annual CPI escalation.
Investors should note that this GSA depends on the successful drilling of the ECSP and a Final Investment Decision for the project's development.
Given that Amplitude's immediate future rests on the outcome of the Isabella prospect's flow testing, investors should watch closely for updates on it commercial viability.
Amplitude Energy has a market cap of $809 million; the share price is up 21% in one year down 10% in the last month.
The stock’s shares appear to be in a near-term uptrend confirmed by the relationship between the 5 and 20-day moving averages.
Consensus is Strong Buy.
Dyno Nobel falls after completing exit from fertiliser business
Shares in Dyno Nobel (ASX: DNL) were trading around 11.1% lower on revelations that the global explosives company has offloaded its Phosphate Hill fertiliser business to privately held Australian energy and resources company, Mayfair Australia, for nominal consideration of $1.
Admittedly, the stock’s share price has clearly been dragged down by today’s wholesale market carnage, with the ASX200 down 4% - however, investors have clearly reacted negatively to management’s final exit from fertilisers to refocus core earnings on explosives, which is expected to simplify the business.
Under a binding agreement to sell its Phosphate Hill fertiliser business to Australian energy and resources group Mayfair, Dyno Nobel could end up receiving up to $100 million in deferred payments depending on future performance conditions.
Last year, Dyno Nobel flagged to the market plans to cease operations at its Phosphate Hill plant in September 2026 if a buyer was unable to be secured by March.
While Mayfair - which takes on the economic risk of running the operation from 1 April 2026 - will assume responsibility for the operational and environmental liabilities associated with the asset from completion - Dyno Nobel will contribute $125.9 million in funding to support future rehabilitation obligations at the North Queensland site.
It’s understood that these provisions have already been recognised on its balance sheet.
Today’s share price fall defies management’s reassurance that its explosives business remains on track to meet FY26 earnings guidance of $460 million to $500 million.
Commenting on today’s update, Dyno Nobel's CEO Mauro Neves told the market that the sale of Phosphate Hill to Mayfair is an important milestone that delivers the certainty that allows it to fully focus on its future as a global explosives leader.
" With this announcement, Dyno Nobel is well positioned to continue executing on our transformation strategy and delivering further value for our shareholders,” he said.
Dyno Nobel has a market cap of $5.2 billion; the share price is up around 10% over one year and down 10% in the last week.
The stock appears to be in a long-term uptrend confirmed by multiple indicators.
Consensus is Moderate Buy.
Catapult Sports slides on exit from ASX200
Shares in Catapult Sports (ASX: CAT) were trading around 9.2% lower this afternoon following revelations that S&P Dow Jones Indices has removed the sports technology company from the S&P/ASX 200 as part of a quarterly rebalance, effective from March 23.
Removal from the S&P/ASX 200 typically causes share prices to fall due to index-tracking ETFs and passive funds that are forced to sell their holdings to mirror the benchmark.
Removal from the SX200 also reduces liquidity and visibility to institutional investors, and often results in a lower, less prestigious market perception.
Today’s rebalancing news, plus sharp market falls today – reflecting intense geopolitical tensions in the Middle East and surging oil prices – has overlooked revelations that Morgans has retained their buy rating and $6.25 price target and updated its forecasts to incorporate the Impect and IsoLynx transactions.
A long-term supporter of Catapult, Morgans believes the company is well-placed to grow its top line by 20% per annum over the next three years to reach US$180 million by FY28.
Assuming the broker is right, Catapult appears to be trading ($3.59) at a significant discount to future upside.
At the half-year ended September 30, 2025, delivered annualised contract value (ACV) of US$115.8 million, up 19% year on year, while operating profit increased to US$9.7 million, up 50% year on year.
Commenting on the result, Bob Cruickshank, told the market that Catapult’s key SaaS metrics continue to exhibit the profile of a world-class subscription business model, reflecting its industry leadership position and the ability to sustain our future growth.
Shares in the company have slid almost 15% since the start of the year and 50% from its peak in October.
Catapult Sports has a market cap of around $1.1 billion; the share price is down 4.8% in one year and up 4% in the last month.
The stock’s shares appear to be in a long-term bearish trend, confirmed by multiple indicators.
Consensus is Strong Buy.
This article does not constitute financial or product advice. You should consider independent advice before making financial decisions.
