DRILLING PROGRAM UNDERWAY WITH 100% SUCCESS RATE
Vancouver, Canada, February 5th, 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 FY26 Half Year Results Presentation, FY26 half year results, and Interim Report for the Half Year Ended 31 December 2025, all dated February 5th, 2026.
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.
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’s First Half FY26 production from the Western Flank was 0.8MMboe, 41% below the prior corresponding period. Western Flank oil production was 0.5MMbbl, 45% below the prior corresponding period. The decrease in production was mainly due to flooding in the Cooper Basin and natural field decline.
Drilling Activities
As reported in the Company’s news release dated January 21, 2026, Beach commenced a 12-well oil appraisal and development drilling campaign with three oil development wells drilled during the first half of Beach’s FY26. All three wells were cased and completed with connection in Q3 FY26 targeted. This will be followed by a 10-well oil exploration campaign, which will commence in late FY26 and continue into FY27.
“Restoration of road access enabled us to commence a 12-well oil appraisal and development campaign in the Western Flank, the first campaign in the flank in more than two-and-a-half-years. The team achieved early success with the first three wells drilled in the Callawonga field, and our 100% success rate has continued following the end of the half. One well has been brought online and is now producing, with the remaining wells to be drilled and connected in H2 FY26. This will be followed by a 10-well oil exploration campaign which has the potential to unlock new reserves and further drilling opportunities in the Basin”, per Brett Woods, Managing Director and CEO of Beach.
“Newport is pleased that the first drilling campaign in more than two and a half years is underway and congratulates Beach on its 100% success rate on the first six wells drilled to date”, 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 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 $2.9 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