Newport says Beach produces 2.3MMboe in F2025 @ Western

Executive Summary

• Newport Exploration clarifies Beach Energy’s 2025 annual production results for the Western flank of the Cooper Basin, noting a 33 % decline to 2.3 MMboe due primarily to natural field decline and flood‑related interruptions.
• Updated reserves as of 30 June 2025 show 1P oil reserves of 4.7 MMboe (40 % attributable to Newport’s GOR) and 1P gas reserves of 1.2 MMboe (100 % attributable), with 2P oil reserves of 11.6 MMboe and 2P gas reserves of 1.5 MMboe.
• Beach Energy plans a FY26 10‑well oil appraisal and development campaign targeting undeveloped McKinlay/Birkhead reserves, pending flood recovery and final approvals.

Key Details

• Production: Western flank total production for 2025 = 2.3 MMboe, down 33 % YoY; decline attributed to natural field depletion and flooding‑related interruptions.
• Reserves – 1P (Proved):
• Oil: 4.7 MMboe (40 % attributable to Newport’s 2.5 % GOR licences).
• Gas: 1.2 MMboe (100 % attributable to Newport’s GOR licences).
• Reserves – 2P (Proved + Probable):
• Oil: 11.6 MMboe (37 % attributable to Newport’s GOR licences).
• Gas: 1.5 MMboe (100 % attributable to Newport’s GOR licences).
• Reserves were independently audited by Netherland, Sewell and Associates Inc. per PRMS/SPE standards; not prepared under NI 51‑101.
• FY26 Drilling Program: Planned commencement of a 10‑well oil appraisal & development campaign in the second half of FY26 targeting undeveloped McKinlay/Birkhead reserves across Bauer, Callawonga, Kalladeina and Snatcher fields; contingent on flood recovery and final approvals.
• Operational Focus: Emphasis on operating efficiencies and cost savings before a final investment decision for subsequent exploration campaigns.
• Company Position: Newport holds a 2.5 % gross overriding royalty (GOR) over the licences, with no expiry or cost to retain; has no control over Beach’s operational decisions.
• Financial Snapshot: 105,579,874 common shares outstanding; approximately $2.5 million in treasury cash/equivalents; no debt.

Notable Quotes

(No direct quotes were provided in the release.)