Business
NEWPORT RECEIVES AUD$365,030 (GROSS)/AUD$255,521 (NET) QUARTERLY ROYALTY PAYMENT
Newport Exploration Ltd ("Newport" or "the Company") reports the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the November 2025 – January 2026 quarter. Gross royalty income for the quarter was AUD$365,030. The AUD$255,521 payment received by Newport is net of 30% Australian withholding tax (AUD$109,509).
About this update from Newport Exploration Ltd
[{"type":"text","content":"Trading Symbol: NWX (TSX-V)","length":27,"tagName":"p"},{"type":"text","content":"VANCOUVER, BC, March 2, 2026 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") reports the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the November 2025 – January 2026 quarter. Gross royalty income for the quarter was AUD$365,030. The AUD$255,521 payment received by Newport is net of 30% Australian withholding tax (AUD$109,509).","length":450,"tagName":"p"},{"type":"image","alt":"Newport Exploration Ltd. Logo (CNW Group/Newport Exploration Ltd.)","displaySize":"","headline":null,"caption":"Newport Exploration Ltd. Logo (CNW Group/Newport Exploration Ltd.)","className":"","disableSlideshowImg":false,"size":{"original":{"width":400,"height":99,"url":"https://media.zenfs.com/en/cnwgroup.com/97870065ed343d71fd687bc14a956011"},"resized":{"url":"https://s.yimg.com/ny/api/res/1.2/0ejzmQ5j.bV9QjY7VDpVeQ--/YXBwaWQ9aGlnaGxhbmRlcjt3PTcwNTtoPTE3NDtjZj13ZWJw/https://media.zenfs.com/en/cnwgroup.com/97870065ed343d71fd687bc14a956011","width":400,"height":99}},"href":"https://mma.prnewswire.com/media/2924103/Newport_Exploration_Ltd__NEWPORT_RECEIVES_AUD_365_030__GROSS__AU.html","hrefExternal":true,"rel":"nofollow"},{"type":"text","content":"Company Financial Status","length":24,"tagName":"p"},{"type":"text","content":"Newport has approximately CDN$3.0 million in its Treasury, comprised of cash, cash equivalents and short-term investments, and has no debt.","length":139,"tagName":"p"},{"type":"text","content":"About Newport","length":13,"tagName":"p"},{"type":"text","content":"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.","length":192,"tagName":"p"},{"type":"text","content":"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 sub...