# /C O R R E C T I O N -- Newport Exploration Ltd./ Canonical Atlas analysis: https://atlas-extractions.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--08e47be6-6e40-4c02-b62e-d2f4b92a9b6c Original source: https://money.tmx.com/en/quote/NWX/news/7994814794434133/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd Publisher: tmx Original announcement: 2025-08-07T17:09:00.000Z Analysis by Minestarters Atlas Atlas analysis published: Unknown date Atlas analysis updated: Unknown date - 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 Narrative sentiment: -0.20 · Bearish ## Minestarters Atlas 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 factor: Updated reserve figures provided via Beach Energy report - Negative factor: Production decrease of 33% due to field decline and flooding - Negative factor: Reserves not prepared under NI 51-101 standards - Negative factor: 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 Resource** Polarity: negative Definition: 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 Disclosure** Polarity: negative Definition: 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 Only** Polarity: negative Definition: 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) ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--08e47be6-6e40-4c02-b62e-d2f4b92a9b6c#fact-resource-facts-1) Western Flank · oil #### 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 factor: Non-NI 51-101 compliant - Negative factor: Third-party reported Evidence · text > Oil – 4.7 MMboe \(40% is attributable to the Company's GOR licences\) #### Tags used in scoring **Proven Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### proven [Link to this fact](https://atlas-extractions.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--08e47be6-6e40-4c02-b62e-d2f4b92a9b6c#fact-resource-facts-2) Western Flank · gas #### 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 factor: 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 Reserve** Polarity: positive Definition: Measured Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "proven" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--08e47be6-6e40-4c02-b62e-d2f4b92a9b6c#fact-resource-facts-3) Western Flank · oil #### 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 factor: 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 Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated ### probable [Link to this fact](https://atlas-extractions.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--08e47be6-6e40-4c02-b62e-d2f4b92a9b6c#fact-resource-facts-4) Western Flank · gas #### 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 factor: 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 Reserve** Polarity: positive Definition: Indicated Resource with demonstrated economic viability after applying modifying factors. Why it applies: category is "probable" **Cut-off Undisclosed** Polarity: negative Definition: 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.