Newport Exploration Clarifies Cooper Basin Reserves and FY26 Plans

The latest update is out from Newport Exploration ( (TSE:NWX) ).

Newport Exploration Ltd announced clarifications on its previous report regarding operations and reserves in the Cooper Basin, Australia, where it holds a 2.5% gross overriding royalty. The report from Beach Energy indicated a 33% decrease in production due to natural field decline and flooding. Beach Energy plans a 10-well oil appraisal and development campaign in FY26, focusing on operating efficiencies and cost savings. Newport’s GOR assets contribute significantly to the reported reserves, with 40% of oil and 100% of gas reserves attributable to these licences.

Spark’s Take on TSE:NWX Stock

According to Spark, TipRanks’ AI Analyst, TSE:NWX is a Neutral.

Newport Exploration’s stock score is primarily affected by its stable balance sheet and attractive valuation, but it is weighed down by the critical absence of revenue. Positive technical indicators provide support for the stock’s upward momentum, while the high dividend yield offers significant investor returns despite the company’s revenue challenges.

To see Spark’s full report on TSE:NWX stock, click here.

More about Newport Exploration

Newport Exploration Ltd is involved in the oil and gas industry, holding a 2.5% Gross Overriding Royalty over permits in the Cooper Basin, Australia, operated by Beach Energy. The company does not have control over operating decisions and has no time limit or expiry date on its GOR assets.

Average Trading Volume: 55,577

Technical Sentiment Signal: Strong Sell

Current Market Cap: C$12.14M

See more insights into NWX stock on TipRanks’ Stock Analysis page.