Vancouver, Canada. February 10th, 2020. Newport Exploration Ltd (“Newport” or “the Company”) is pleased to announce, its first quarterly cash dividend (“the Dividend”) of $0.01 per share to its shareholders of record at the close of business on February 24th, 2020. The Dividend payment date is March 9th, 2020.  

The Dividend, fully approved by the Board of Directors, is not subject to any changes and has been designated as an “eligible dividend” for Canadian income tax purposes.

Management believes that based on Beach Energy Ltd.’s (“Beach”) recent exploration success and development of the licenses in the Cooper Basin over which the Company has its 2.5% Gross Overriding Royalty (“GOR”), shareholders should be rewarded with dividend continuity, potential dividend growth, as well as capital appreciation. Also, the Company’s strong balance sheet ensures that Newport has the ability to maintain regular quarterly dividend payments with a reduced likelihood that the quarterly dividend payout would be cut during any sector downturn. 

About Newport

Newport holds a 2.5% GOR on several oil and gas licences and permits in the Cooper Basin in Australia. These permits are currently being operated and explored by Beach and Santos Ltd. (“Santos”), both major Australian oil and gas producers. 

Newport’s dividend payout ratio, being the cash dividends per share of common stock divided by the earnings per share of common stock, compares favorably with that of other yield stocks and the Company has paid out more than 85% of after tax royalty receipts in dividends. Furthermore, the dividend payments have been covered by free cash flow with no dilution, incurring no debt, and without selling any assets. Investors are cautioned that historical results are no guarantee of future performance. 

The Company continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Santos in order to keep current during exploration, development and potential production of all the licences subject to the Company’s GOR.

The Company currently has 104,429,874 common shares issued and outstanding and $5.1 million in the Treasury, comprised of cash, cash equivalents and investments.

For further information contact:
Ian Rozier, Director and Chief Executive Officer 
+1 604 685 6851

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