Newport Exploration (TSE:NWX) has released an update.
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Newport Exploration Ltd. provided an operational update, revealing a 12% decline in annual production from the Western Flank, attributed to natural declines and weather-induced interruptions. However, reserves remain substantial with 5.9 MMboe of oil and 1.9 MMboe of gas in proven reserves, and plans for FY25 are focused on countering the natural decline.
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