Newport Exploration Ltd V.NWX

Alternate Symbol(s): NWXPF

Metals & Mining Industrial Metals & Minerals

Newport Exploration Ltd is a Canada-based natural resource company. The Company is engaged in the acquisition and exploration of resource properties. In addition, the Company holds a 2.5% gross overriding royalty interest (the Royalty) on any hydrocarbons produced on certain petroleum exploration and production licenses in Australia. These include licenses being operated and explored by Beach Energy Ltd. (Beach) and Santos Ltd. (Santos), both major Australian oil and gas producers. The Company’s mineral exploration project is the Chu Chua Copper Gold Deposit (Chu Chua), which is located approximately 30 kilometers north of Kamloops, British Columbia. 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 known strike length of 400 m and a known depth of 250 m.

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Newport Exploration Ltd > A little analysis on the Income Statement

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Comment by jsnfernleyon Sep 18, 2021 2:47am

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Post# 33882710

RE:RE:RE:A little analysis on the Income Statement

Can I? Yes. Will I? No.

You can do a search for Beach Energy. Find it and look under ASX Accouncements under Investor Centre. Find the 4th quarter reports (Quarterly Report for the period ended...) for the last two years, this will give you the last Q and FY numbers.

Here are some production numbers:

Western Flank Oil:
FY19 Q1 1,120 kkbl
FY19 Q4 1,459 kkbl
FY19 FY 5,210 kkbl 34 wells drilled

FY20 Q4 2,005 kkbl
FY20 FY 7,488 kkbl 75 wells drilled

FY21 Q1 1,916 kkbl
FY21 Q2 1,741 kkbl
FY21 Q3 1,425 kkbl
FY21 Q4 1,251 kkbl
FY21 FY 6,333 kkbl 21 wells drilled

130 wells drilled over 3 years, production rose and declined. They're only starting out with 3 oil wells in FY22. Beach hasn't shown the production split between properties since 2018, they only show Western Flank Oil.

The Cooper JV numbers are not quite as bad, but is in decline after +200 wells drilled from FY19 through FY21.

Santos Energy only reports half years instead of quarterly, but total mmboe production is flat from FY19 H1 through FY21 H1 after +200 wells drilled over that time frame.

I'm seeing a pattern here.

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