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Newport Exploration ( (TSE:NWX) ) just unveiled an announcement.
Newport Exploration Ltd has announced the receipt of a net royalty payment of AUD$523,706 for the quarter ending January 2025, derived from its 2.5% Gross Overriding Royalty from Beach Energy Ltd’s operations in the Cooper Basin. This payment contributes to Newport’s financial stability, with the company holding approximately CDN$2.6 million in cash and investments, although it remains dependent on Beach’s operational decisions and market conditions in the oil and gas sector.
More about Newport Exploration
Newport Exploration Ltd is a company operating in the oil and gas industry, primarily focused on receiving royalties from its 2.5% Gross Overriding Royalty over licenses in the Cooper Basin, Australia, operated by Beach Energy Ltd. The company has no control over the operations of these licenses and advises stakeholders to refer to Beach and Santos Ltd for operational updates.
Average Trading Volume: 64,131
Technical Sentiment Consensus Rating: Buy
Current Market Cap: C$8.45M
For a thorough assessment of NWX stock, go to TipRanks’ Stock Analysis page.