In a statement yesterday, the Perth-headquartered company said the expansion would see it farm-in to four new projects in the Gulf Coast area, in well-established play trends and with the potential for deeper exploration.

“We hope to significantly increase our existing reserves base in both oil and gas,” Amadeus managing director Geoffrey Towner said.

“Amadeus’ previous success rate gives us the encouragement and confidence in our exploration approach.”

The company said it planned to fund the expanded exploration program through cash flow and cash reserves.

Amadeus plans to take varying working interests, of between 25% and 50%, in the new projects.