Newport Exploration Ltd V.NWX

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

[JayBanks]

Increased the dividend back to 2 cents, my question is how much will we see for an income number if it's covered or if we are still playing the game of pulling from the piggy bank?

If we see that we are covering with income I'll likely step back in.

I did expect a deeper and sharper impact of the dividend reduction rather than the small gradual step downs we saw the past several months. My expectation is still to bounce back and forth between 1-2 cent payouts unless the coverage gets very comfortable which may end up happening...

[jsnfernley]

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.

[JayBanks]

Well I'm staying out, that income number didn't come close to covering the payout... Conversion AUD-CAD 1,535,637 x .91 = 1,397,429.67 Last time I ran numbers it takes 1,055,798.74 to cover a 1 cent dividend, this payout covers just over 1.3 cents of a payout, not 2 cents. (I would have liked to seen 1.5 cents coverage atleast to keep my interest) June 1st 2021 the company had 7