The Australian Music Prize (AMP) awards offer credibility and actual cash reward rather than little pointy doorstops and have quickly become the mark of critical success on our shores.

A week out from the announcement of the AMP winner, Oh Mercy has snaffled the AMP Red Bull Award in recognition of their “outstanding potential”.

The $15,000 prize will help the band fund their second album, which they are currently writing. Privileged Woes, the debut album from the Melbourne four piece was recorded in a spare room, the size of a single bed, with the mattress against the wall during recording. Hopefully the win will at least upgrade them to a king sized, or at least double, room for the recording of the follow up record.

Oh Mercy will be performing live at The Amp awards ceremony in Sydney on 12 March at Sydney Museum of Contemporary Art with two artists who have 2010 albums hotly tipped to make the next AMP shortlist – the previously shortlisted Perry Keyes and Washington whose debut album is slated for June.

They’re also joined by gyrating musician turned spinning politician Peter Garrett, who will present the winner of the AMP, which provides the winner with $30,000 in cash and $30,000 worth of media coverage.

The 2009 Australian Music Prizes nominees are:

Oh Mercy – Privileged Woes
Black Cab – Call Signs
Kid Sam – Kid Sam
Lisa Mitchell – Wonder
Sarah Blasko – As Day Follows Night
Bertie Blackman – Secrets & Lies
Lucie Thorne – Black Across The Field
Urthboy – Spitshine
The Mess Hall – For The Birds