Newport Exploration (TSE:NWX) has released an update.
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Newport Exploration Ltd reports a 10% decline in oil production from the Western Flank during the third quarter, attributed to natural field decline and weather disruptions, with operations expected to be impacted for a month. Despite a decrease in oil prices, gas prices saw a 9% rise from the previous quarter. The company, which receives a gross overriding royalty from Beach Energy, awaits production forecasts for its GOR licences and notes ongoing planning for future exploration and appraisal activities.
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