Vancouver, Canada, October 21st, 2026. Newport Exploration Ltd (“Newport” or “the Company”) provides an update for licences in the Cooper Basin, Australia, over which the Company has a 2.5% gross overriding royalty (“GOR”). This information was reported by Beach Energy Ltd (“Beach”) (ASX: BPT) in its FY27 First Quarter Activities Report dated 21 October 2026.
Beach reports on the Western Flank, which include ex PEL’s 91, 106 and 107, and PRL 26 which are subject to the Company’s GOR, as well as licences ex PEL’s 92, 104, and 111, over which the Company does not have a GOR.
Production
Beach reported that first quarter production from the Western Flank was 15% above the prior quarter. Oil production was 21% above the prior quarter due to restoration of flood impacted oil wells and production from new well connections. At quarter-end, eight of nine appraisal and development wells drilled in FY26 have been brought online and are cumulatively producing in line with initial expectations.
Drilling Activities
Beach reported that shortly after quarter-end, it commenced drilling the first of two oil development wells in early October. A nine-well exploration campaign is expected to follow (an increase from prior plans of eight) targeting expansion of existing play horizons and potentially unlocking new drilling opportunities. The drilling campaign is expected to conclude in Beach’s Q3 FY27.
“The proposed increase in the exploration and development well campaign is encouraging and we look forward to continued success”, stated Ian Rozier, president and CEO of Newport.
About Newport
Newport has a 2.5% GOR over licences in the Cooper Basin, Australia, operated by Beach. There is no time limit or expiry date on the GOR assets, and no cost to the Company to retain them.
Newport has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach’s operating plans going forward. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos Ltd to keep current during exploration, development and potential production of all the licences subject to the Company’s GOR. Readers are cautioned that Beach discloses production results in compliance with Australian public disclosure rules which may not be equivalent to disclosure obligations under NI 51-101 – Standards of Disclosure for Oil and Gas Activities and the COGE Handbook, or other requirements of Canadian securities legislation.
The Company currently has 105,579,874 common shares issued and outstanding and approximately $2.8 million in the Treasury (comprised of cash, cash equivalents and short-term investments), and no debt.
For further information contact;
Ian Rozier, M.Sc.,
P. Eng (Non-Practising)
Director and Chief Executive Officer
+1 604 685 6851