Mr. Ian Rozier reports

BEACH ENERGY REPORT 21% INCREASE IN OIL PRODUCTION FROM WESTERN FLANK. EXPLORATION AND DEVELOPMENT CAMPAIGN TO BE INCREASED

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 (GOR). This information was reported by Beach Energy Ltd. in its FY (fiscal year) 2027 first quarter activities report dated Oct. 21, 2026.

Beach reports on the western flank, which include ex PELs (petroleum exploration licences) 91, 106 and 107, and PRL (petroleum retention licence) 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 first quarter production from the western flank was 15 per cent above the prior quarter. Oil production was 21 per cent above the prior quarter due to restoration of flood impacted oil wells and production from new well connections. At the quarter-end, eight of nine appraisal and development wells drilled in FY 2026 have been brought online and are cumulatively producing in line with initial expectations.

Drilling activities

Beach reported that shortly after the quarter-end, it commenced drilling the first of two oil development wells in early October. A nine-well exploration campaign is expected to follow (an increase from prior plans of eight) targeting expansion of existing play horizons and potentially unlocking new drilling opportunities. The drilling campaign is expected to conclude in Beach's Q3 (third quarter) FY 2027.

"The proposed increase in the exploration and development well campaign is encouraging, and we look forward to continued success," 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 that may not be equivalent to disclosure obligations under National Instrument 51-101, Standards of Disclosure for Oil and Gas Activities, and the COGE 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 (comprising cash, cash equivalents and short-term investments), and no debt.

We seek Safe Harbor.