Newport Exploration Ltd V.NWX

Alternate Symbol(s): NWXPF

Metals & Mining Industrial Metals & Minerals

Newport Exploration Ltd. is a Canada-based company, which has royalty interests in producing oil and gas permits in the Cooper Basin, Australia, and a mining project in British Columbia, Canada. The Company holds a 2.5% gross overriding royalty (GOR) on several permits in Australia. These include permits being operated and explored by Beach Energy Ltd. (Beach) and Santos Ltd. (Santos), both Australian oil and gas producers. The Cooper Basin is an onshore oil and gas development area. The Company’s Chu Chua is located approximately 30 kilometers (km) north of Kamloops, British Columbia, with access and infrastructure. The deposit is a Cyprus-type volcanogenic massive sulfide body hosted in two steeply dipping lenses of massive pyrite-chalcopyrite and magnetite up to 40 meters (m) thick, with a strike length of 400 m and a known depth of 250 m.

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Newport Exploration Ltd

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Post by Ahkenahmed2on Jan 11, 2017 8:15am

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Post# 25692603

December drill report is out.

Find it here: Dec drill report

Excerpt:

Western Flank Gas – ex PEL 106 (Beach 100%) Canunda3 is the first well of a threewell gas exploration and appraisal campaign within Beach’s 100% owned ex PEL 106 permit area. The Canunda Field is located on the western edge of the Patchawarra Trough, approximately 45 kilometres northwest of the Moomba processing facility. Canunda3 targeted liquidsrich gas within a stratigraphic trap in the Patchawarra Formation and reached total depth of 2,811 metres on 31 December 2016. Subsequent to monthend, wireline evaluation of the primary Patchawarra target indicated 1.6 metres of net pay. A drill stem test of the primary target produced liquidsrich gas at a rate of 1.9 MMscf/d on a 16/64” choke and 1,302 psig flowing pressure. In addition, wireline evaluation of the secondary Patchawarra target indicated 1.2 metres of net pay. A drill stem test of the secondary target produced liquidsrich gas at a rate of 1.3 MMscf/d on a 16/64” choke and 730 psig flowing pressure. Canunda3 was cased and suspended as a future producer, with further testing required. Analysis of test results is expected to confirm that the primary and secondary targets of Canunda3 represent new discoveries which are not connected to existing reservoirs within the Canunda Field.

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