Mr. Ian Rozier reports

BEACH ENERGY REPORT 100% SUCCESS RATE FROM NEW WELLS DRILLED

Newport Exploration Ltd. has provided an update for licences in the Cooper basin, Australia, over which the company has a 2.5-per-cent gross overriding royalty. This information was reported by Beach Energy Ltd. in its fourth quarter fiscal 2026 activities report dated July 22, 2026.

Beach reports on the Western flank, which includes ex-PELs 91, 106 and 107, and PRL 26, which are subject to the company's GOR, as well as licences ex-PELs 92, 104 and 111, over which the company does not have a GOR.

Production

Beach reported that fourth quarter production from the Western flank was in line with the prior quarter. Oil production was 11 per cent above the prior quarter due to restoration of flood-impacted oil wells and production from new well connections. The remaining flood-impacted wells are expected to be progressively restored in Beach's first half fiscal 2027.

Gas and gas liquids production was 18 per cent below the prior quarter, primarily due to a planned annual shutdown to perform maintenance activities at the Middleton gas plant.

Drilling activities

Beach reported that it continued its 12-well oil appraisal and development drilling campaign with three horizontal development wells drilled during the quarter, including the quad-lateral Bauer 70 well.

The Stunsail 7 DW1 well encountered oil in the primary McKinlay reservoir. The Bauer 70 well targeted the McKinlay reservoir, and the Spitfire 14 well (not on the company's GOR licences) encountered oil in the primary Birkhead reservoir. All wells were cased and suspended, with two wells brought on-line after quarter-end.

In its second quarter fiscal 2027, Beach plans to complete its exploration, appraisal and development campaign and plans to drill two oil development wells in the Bauer and Kalladeina fields, one contingent well, and eight oil exploration wells.

"The results from the recent drilling are very encouraging for future production from the licences that are subject to Newport's GOR, and we look forward to the results from the next drilling campaign," stated Ian Rozier, president and chief executive officer of Newport.

About Newport Exploration Ltd.

Newport has a 2.5-per-cent 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 National Instrument 51-101 (Standards of Disclosure for Oil and Gas Activities) and the Canadian oil and gas evaluation 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 (composed of cash, cash equivalents and short-term investments) and no debt.

We seek Safe Harbor.