NEWPORT RECEIVES AUD$753,663 (GROSS)/AUD$527,566 (NET) QUARTERLY ROYALTY PAYMENT
VANCOUVER, BC, June 2, 2025 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") is pleased to report the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the February – April 2025 quarter. Gross royalty income for the quarter was AUD$753,663. The AUD$527,566 payment received by Newport is net of 30% Australian withholding tax (AUD$226,097).
Company Financial Status
Newport has approximately CDN$2.7 million in its Treasury, comprised of cash, cash equivalents and short-term investments.
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 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, or other requirements of Canadian securities legislation.
The Company currently has 105,579,874 common shares issued and outstanding.
www.newport-exploration.com
www.beachenergy.com.au
www.santos.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this news release.
Cautionary Statement on Forward-Looking Information
This news release is intended to provide readers with a reasonable basis for assessing the future performance of the Company. The words "believe", "should", "could", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements may pertain to assumptions regarding Beach's drilling plans, the price of oil and fluctuations in currency markets (specifically the Australian dollar) and future dividend payments. Forward-looking statements are based upon a number of estimates and assumptions that, which are considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties and contingencies. Factors include, but are not limited to, the risk of fluctuations in the assumed prices of oil, the risk of changes in government legislation including the risk of obtaining necessary licences and permits, taxation, controls, regulations and political or economic developments in Canada, Australia or other countries in which the Company carries or may carry on business in the future, risks associated with developmental activities, the speculative nature of exploration and development, and assumed quantities or grades of reserves. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements.
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
© 2025 Newport Exploration Ltd.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Canada News.Net
32 minutes ago
- Canada News.Net
CANADA-SOFTWOOD LUMBER INDUSTRY-SUPPORTING MEASURES
(250806) -- RICHMOND, Aug. 6, 2025 (Xinhua) -- Floating logs are seen on the Fraser River in Richmond, British Columbia, Canada, Aug. 5, 2025. Canadian Prime Minister Mark Carney on Tuesday announced a series of new measures to help the softwood lumber industry transform and remain competitive. According to a news release on the prime minister's official website, the new financial measures include 700 million Canadian dollars (508 million U.S. dollars) in loan guarantees to address the immediate pressures facing the softwood lumber sector, and 500 million Canadian dollars to supercharge product and market diversification to make the industry more competitive for the long term. (Photo by Liang Sen/Xinhua)
Vancouver Sun
an hour ago
- Vancouver Sun
Mark Carney suggests he's considering rescinding Online News Act
OTTAWA — Prime Minister Mark Carney suggested Tuesday he is considering substituting or rescinding the Online News Act to ensure local news is disseminated wider and faster two years after Meta banned access to news on its platforms. Carney made the unexpected suggestion while announcing over $1 billion in loan guaranteed and long-term supports for the softwood lumber industry at a mill in West Kelowna, B.C. At the start of the news conference, Carney highlighted the brutal impact of wildfires this summer, including one that recently forced the evacuation of roughly 400 properties near West Kelowna. Stay on top of the latest real estate news and home design trends. By signing up you consent to receive the above newsletter from Postmedia Network Inc. A welcome email is on its way. If you don't see it, please check your junk folder. The next issue of Westcoast Homes will soon be in your inbox. Please try again Interested in more newsletters? Browse here. Asked if his government is considering an alternative to the Online News Act — previously known as C-18 — or simply rescinding it so that Web giant Meta would lift its ban on news articles being shared on its platforms, Carney suggested that was 'part of our thinking around' improving the reach of local media. 'This government is a big believer in the value of … local news and the importance of ensuring that that is disseminated as widely and as quickly as possible. So, we will look for all avenues to do that,' he said. The prime minister's office did not immediately respond to questions about which avenues specifically the government is considering to improve the dissemination of local news. Meta controversially banned news articles from its Canadian users two years ago in response to the federal government's Online News Act, which compels social media giants to negotiate revenue-sharing deals with news publishers for the use of their content. The bill specifically impacted Meta and Google, though both have taken diametrically opposing routes to get exempt from the Act. The former banned news content outright on its platforms when the bill became law, while the latter signed a $100 million annual deal with Canadian publishers last year. Meta has argued against the 'false premise' that it benefits from free online news articles and says that media companies are the ones that benefit from sharing their content to Facebook and Instagram audiences. Shortly after Meta barred Canadian news articles on Facebook and Instagram, then Prime Minister Justin Trudeau accused the web giant of 'putting corporate profits ahead of people's safety'. 'Instead of making sure that local journalists are fairly paid for keeping Canadians informed on things like wildfires, Facebook is blocking news from its sites,' he said in August 2023 . 'Right now in an emergency situation where up-to-date local information is more important than ever, Facebook's putting corporate profits ahead of people's safety, ahead of supporting quality local journalism,' he added. During his press conference, Carney also reiterated his government's campaign commitment to boost funding for CBC/Radio-Canada and change its governance so that it could provide 'unbiased, immediate, local information' during crises such the ongoing B.C. wildfires. During the campaign, Carney committed to boosting the public broadcaster's funding by $150 million yearly. Meta did not immediately respond to a request for comment. National Post cnardi@ Our website is the place for the latest breaking news, exclusive scoops, longreads and provocative commentary. Please bookmark and sign up for our politics newsletter, First Reading, here .
Calgary Herald
an hour ago
- Calgary Herald
Canada will look at opportunities to remove tariffs, Carney says
Prime Minister Mark Carney said Canada will look for opportunities to remove some counter-tariffs against the United States, despite winning an election in which he pledged to fight back against U.S. President Donald Trump 's trade war. Article content Carney said it's because he wants to maximize the impacts of retaliatory tariffs on the U.S. but minimize the pain for Canadian businesses. Article content Article content Article content 'We don't automatically adjust; we look at what we can do for our industry that's most effective,' Carney said in West Kelowna, British Columbia. 'In some cases, that will be to remove tariffs. We have removed some tariffs over time so that, for example, the auto industry can function more effectively. And we'll look at opportunities to do so.' Article content Article content To try and bolster the auto sector, in April Carney offered counter-tariff relief to carmakers — but only if they invest and produce vehicles in Canada. As recently as June, Carney said Canada would adjust its existing counter-tariffs on steel and aluminum based on discussions with the U.S. The U.S. has since raised some Canadian tariffs, but Canada has not retaliated. Article content Carney's latest comments underscore a politically awkward compromise as he seeks to minimize damage to domestic business and labor while standing firm against Trump. The president has not only imposed a broadside of tariffs but infuriated many Canadians by saying their country should be a 51st U.S. state. Article content Article content Carney narrowly won an election in April touting slogans like 'Canada Strong' and 'Elbows Up,' the latter phrase meant to evoke warding off belligerent opponents in the national sport of ice hockey. Article content Article content The remarks highlight the shift since Carney's predecessor Justin Trudeau backed the principle of 'dollar-for-dollar' reprisals and imposed counter-tariffs on $60 billion in U.S. goods in March. If Canadians expected other countries to follow suit, the months since have proved disappointing: Although the European Union and Mexico have discussed counter-measures, they have held off, leaving Canada and China the lone retaliators. Article content The White House cited Canada's counter-tariffs as part of its justification for increasing headline tariffs to 35 per cent from 25 per cent on some Canadian products last week. The majority of goods, however, remain exempt, covered by the U.S.-Mexico-Canada trade deal Trump signed during his first term in office.
