Newport Exploration cites three wells drilled by Beach

Mr. Ian Rozier reports BEACH ENERGY'S Q3 ACTIVITIES REPORT 100% SUCCESS RATE FROM NEW WELLS DRILLED AT STUNSAIL WEST, KANGAROO 5 AND KANGAROO 6 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. (Australian Securities Exchange: BPT) in its FY26 third quarter activities report dated April 28, 2026. Beach reports on the Western Flank, which include ex PEL's 91, 106 and 107, and PRL 26 which are subject to the company's GOR, as well as licences ex PEL's 92, 104 and 111, over which the company does not have a GOR. Production Beach reported that third quarter production from the Western Flank was 8 per cent below the prior quarter due to extensive rainfall in operational areas. As a result of the heavy rainfall in February and March, Western Flank oil production was 16 per cent below the prior quarter. Gas and gas liquids production was 9 per cent above the prior quarter. Drilling activities Beach reported that it continued its 12-well oil appraisal and development drilling campaign with one oil exploration well and two oil appraisal wells drilled during the quarter. Drilling activities were delayed as of mid-February with severe rainfall impacting road access, impeding drilling activity for the remainder of the quarter. The appraisal and development campaign was recommenced in mid-April after road access was restored. Beach also reported that the Stunsail West 1 exploration well was drilled and encountered oil in the primary Namur and secondary McKinlay and Birkhead reservoirs. An oil-water contact in the Namur reservoir was consistent with the Stunsail field approximately one kilometre to the west, suggesting a continuous oil accumulation between the fields. Follow-up appraisal activity is being assessed to derisk a greater Stunsail development campaign. The Kangaroo 5 oil appraisal well targeted the Birkhead reservoir approximately 700 metres north of Kangaroo 1. The well proved communication with the offset oil producer, Kangaroo 1. Kangaroo 5 is to be fracture stimulated and completed as a water injection well to maximize field recovery. Kangaroo 6 targeted the Birkhead reservoir. The well was cased and suspended and is planned to be completed and connected in Beach's Q4 FY26. The remainder of Beach's campaign includes six oil development wells in the Bauer, Kalladeina, Spitfire and Stunsail fields, and one contingent Kalladeina oil well. Due to the weather delays experienced in the quarter, Beach expects four of the remaining six wells will be drilled in Beach's FY26, with the remaining two wells to be drilled in Beach's FY27 followed by an oil exploration campaign. Beach continues to manage its operations to minimize weather related impacts on production, infrastructure and well development. "A difficult operating environment during the recent quarter was more than offset by the successful drilling campaign with a 100-per-cent success rate to date from the Stunsail West, Kangaroo 5 and Kangaroo 1 west wells. We believe the continuity between the recently drilled wells and the existing producing wells is very encouraging for future production from the licences that are subject to Newport's GOR," 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 which 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 (comprises cash, cash equivalents and short-term investments), and no debt. We seek Safe Harbor.