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Newport Exploration Ltd V.NWX

Alternate Symbol(s):  NWXPF

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.


TSXV:NWX - Post by User

Comment by jsnfernleyon May 10, 2022 1:47pm
225 Views
Post# 34671144

RE:Well now there is some news I’ll accept as ‘positive’

RE:Well now there is some news I’ll accept as ‘positive’The rate of decline for oil production from quarter to quarter has slowed, but it still doesn't change the fact that Beach's Western Flank oil production is down 61% from its peak, and 37% from Q4 2020 production.

The high oil price is the only thing helping you at this point, but that will only last until the next recession.
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