/C O R R E C T I O N -- Newport Exploration Ltd./
Original announcement by tmx on
- Company
- Newport Exploration Ltd.
- Ticker
- NWX
- Exchange
- TSX
- Region
- Cooper Basin, Australia
- Primary commodity
- Oil
- Secondary commodities
- Gas
- Document categories
- Resource update, Production
- Extracted
- 2026-09-16 15:14:20 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Newport Exploration Ltd. issued a clarification regarding its royalty interest in the Cooper Basin, Australia, following Beach Energy's annual report. The update notes a 33% year-on-year production decline due to flooding and natural field decline, while providing updated 1P and 2P reserve figures for oil and gas.
Reasoning: The document is a correction/clarification of a previous release. While it provides updated reserve numbers for the royalty interest, the underlying production has declined significantly due to flooding and natural decline, and the reporting standards are non-compliant with Canadian NI 51-101.
Positive factors
- Updated reserve figures provided via Beach Energy report
Negative factors
- Production decrease of 33% due to field decline and flooding
- Reserves not prepared under NI 51-101 standards
- Issuer unable to confirm QP/CP status of the original auditor
Low confidence — this extraction should be reviewed alongside the original source.
Facts used in scoring: 5
Classification and evidence
Inferred Resourcenegative
Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.
Why it applies: The reserves are reported by a third party (Beach Energy) and the issuer notes they are not prepared in accordance with NI 51-101 standards, limiting geological confidence for the royalty holder.
Evidence · text
“the reserves are not prepared in accordance with NI 51-101- Standards of Disclosure for Oil and Gas Activities”
No QP/CP Disclosurenegative
No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.
Why it applies: The company explicitly states it cannot confirm if the reserves were prepared by a qualified reserves evaluator or auditor per NI 51-101.
Evidence · text
“The issuer is unable to confirm that the Reserves and Resources were prepared by a qualified reserves evaluator or auditor, in accordance with NI 51-101.”
Historical Estimate Onlynegative
Estimate pre-dates or does not comply with current JORC/NI 43-101 standards — requires verification drilling.
Why it applies: The data is sourced from Beach Energy's 2025 Annual Report dated August 4th, 2025, making this a restatement of third-party data.
Evidence · text
“This information was reported by Beach Energy Ltd ("Beach") (ASX: BPT) in its 2025 Annual Report and FY25 Results Presentation, both dated 4th August 2025.”
Extracted facts
Stored fact records: 4. Some facts used in scoring do not have a stored record.
Resource Estimates (4)
provenWestern Flank · oilTonnes: 4.7Contained Metal: 4.7Contained Unit: mmboeView all detailsHide details
Identity
- Project
- Western Flank
- Commodity
- oil
- Region
- australia
- Reported Region
- Cooper Basin, Australia
- Ticker
- NWX
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Resource group id
- resource:84f94bcc3f53a1d11904
- Ownership percent
- 40 %
- Resource basis
- attributable
Resource Data
- Category
- proven
- Tonnes
- 4.7
- Contained Metal
- 4.7
- Contained Unit
- mmboe
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-08-07T00:00:00.000Z
Reasoning: 1P (Proved) oil reserves reported by Beach Energy.
Negative factors
- Non-NI 51-101 compliant
- Third-party reported
Evidence · text
“Oil – 4.7 MMboe (40% is attributable to the Company's GOR licences)”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
provenWestern Flank · gasTonnes: 1.2Contained Metal: 1.2Contained Unit: mmboeView all detailsHide details
Identity
- Project
- Western Flank
- Commodity
- gas
- Region
- australia
- Reported Region
- Cooper Basin, Australia
- Ticker
- NWX
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Resource group id
- resource:8576d21b7e4568beb8f5
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- proven
- Tonnes
- 1.2
- Contained Metal
- 1.2
- Contained Unit
- mmboe
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-08-07T00:00:00.000Z
Reasoning: 1P (Proved) gas reserves reported by Beach Energy.
Negative factors
- Non-NI 51-101 compliant
Evidence · text
“Gas – 1.2 MMboe (100% is attributable to the Company's GOR licences)”
Tags used in scoring
Proven Reservepositive
Measured Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "proven"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
probableWestern Flank · oilTonnes: 11.6Contained Metal: 11.6Contained Unit: mmboeView all detailsHide details
Identity
- Project
- Western Flank
- Commodity
- oil
- Region
- australia
- Reported Region
- Cooper Basin, Australia
- Ticker
- NWX
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Resource group id
- resource:40a92ea1eb40d44f62c5
- Ownership percent
- 37 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 11.6
- Contained Metal
- 11.6
- Contained Unit
- mmboe
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-08-07T00:00:00.000Z
Reasoning: 2P (Proved and Probable) oil reserves reported by Beach Energy.
Negative factors
- Non-NI 51-101 compliant
Evidence · text
“Oil – 11.6 MMboe (37% is attributable to the Company's GOR licences)”
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
probableWestern Flank · gasTonnes: 1.5Contained Metal: 1.5Contained Unit: mmboeView all detailsHide details
Identity
- Project
- Western Flank
- Commodity
- gas
- Region
- australia
- Reported Region
- Cooper Basin, Australia
- Ticker
- NWX
Resource scope
- Estimate type
- reserve
- Effective date
- 2025-06-30T00:00:00.000Z
- Resource group id
- resource:35b283dfd7286b835855
- Ownership percent
- 100 %
- Resource basis
- attributable
Resource Data
- Category
- probable
- Tonnes
- 1.5
- Contained Metal
- 1.5
- Contained Unit
- mmboe
Prior Estimate
- Resource Date
- 2025-06-30
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2025-08-07T00:00:00.000Z
Reasoning: 2P (Proved and Probable) gas reserves reported by Beach Energy.
Negative factors
- Non-NI 51-101 compliant
Evidence · text
“Gas – 1.5 MMboe (100% is attributable to the Company's GOR licences)”
Tags used in scoring
Probable Reservepositive
Indicated Resource with demonstrated economic viability after applying modifying factors.
Why it applies: category is "probable"
Cut-off Undisclosednegative
High-grade interval reported without stating the cut-off grade used for compositing.
Why it applies: no cutoff_grade was stated
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.