Mr. Ian Rozier reports
NEWPORT RECEIVES AUD$385,012 (GROSS)/AUD$269,510 (NET) QUARTERLY ROYALTY PAYMENT
Newport Exploration Ltd. has received its after-tax 2.5-per-cent gross overriding royalty payment from Beach Energy Ltd. for the May to July, 2026, quarter. Gross royalty income for the quarter was $385,012 (Australian). The $269,510 (Australian) payment received by Newport is net of 30-per-cent Australian withholding tax ($115,502 (Australian)).
Company financial status
Newport has approximately $2.9-million (Canadian) in its treasury, composed of cash, cash equivalents and short-term investments, and has no debt.
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), 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.
We seek Safe Harbor.
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