Vancouver, Canada. October 4th, 2018. Newport Exploration Ltd (“Newport” or “the Company”) reports that it has received $215,000 from the exercise of 4,300,000 stock options which were set to expire on December 18, 2018.
The Company now has 96,629,874 common shares issued and outstanding and $8.1 million in cash, cash equivalents and short-term investments.
Newport holds a 2.5% gross overriding royalty on several oil and gas 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. Recent exploration and development on Ex PEL’s 91, 106, and 632 had several wells drilled and identified as future producers.
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 the exploration, development and production of these licences.
For further information contact:
Ian Rozier, Director and Chief Executive Officer
+1 604 685 6851
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