Vancouver, Canada, October 20th, 2025. 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 FY26 First Quarter Activities Report dated 20 October 2025.
The Company receives its GOR from Beach which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 – Standards of Disclosure for Oil and Gas Activities and the COGE Handbook, or other requirements of Canadian securities legislation.
Production
Highlights of the first quarter production from the Western Flank as reported by Beach are as follows:
Production from the Western Flank was 371 kboe, 16% below the prior quarter (Note: Western Flank includes the Company’s GOR licences ex PEL’s 91, 106, 107 and PRL 26, as well as licences ex PEL’s 92, 104 and 111, over which the Company does not have a GOR), mainly due the impacts of flooding and natural field decline.
Western Flank oil production of 247 kbbl was 18% below the prior quarter.
Gas and gas liquids production of 124 kboe was 13% below the prior quarter.
Beach report that flooding across the region continues to impact production from the Western Flank. Flood waters are slowly receding and Beach is progressively restoring production at affected wells. Flood impacts are expect to continue through Beach’s Q2 FY26.
Realized Gas & Oil Prices
The average realized price of oil was AUD$113/bbl, a 2% increase over the prior quarter.
The average realized price of gas was AUD$11.7 per GJ, an 8% increase over the prior quarter.
Beach report their average realized price across all products was AUD$79/boe, a 2% increase over the prior quarter.
Drilling Activities
Beach report that the 10-well oil appraisal and development campaign is proposed to commence in late-Q2 FY26, subject to flood waters subsiding and access roads reopening. The next phase of oil exploration drilling which may follow the appraisal and development campaign is also under consideration.
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 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 105,579,874 common shares issued and outstanding and approximately $2.7 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