finanzen.net
03.12.2019 20:16
Bewerten
(0)

Newport Receives AUD$2,200,918 Net Quarterly Royalty Payment

Trading Symbol: NWX (TSX-V)

VANCOUVER, Dec. 3, 2019 /CNW/ - Newport Exploration Ltd ("Newport" or "the Company") is pleased to report that it has received its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the three-month period August 2019 to October 2019. 

Newport Exploration Ltd. (CNW Group/Newport Exploration Ltd.)

Gross royalty income for the period was AUD$3,144,168. The AUD$2,200,918 payment received by Newport of is net of 30% Australian withholding taxes (AUD$943,250) in accordance with the Australian Tax Office. 

Newport has approximately CDN$5.3 million in the Treasury, comprised of cash, cash equivalents, and short-term investments.

In FY2020, Beach propose to invest AUD$250 million in their Western Flank operations with up to 77 oil wells to be drilled, comprising 36 exploration and appraisal wells and 41 development wells (including 17 horizontal wells).  Beach anticipate drilling over 300 wells in the Western Flank over the next 5 years. 

In the Cooper Basin, Beach propose to invest AUD$220 million in FY2020 with over 100 wells being planned with 4 rigs operating full time.  The completion of Bauer-39, with a lateral length of over 1,600 metres and net pay over 1,300 metres has confirmed a further extension to the south-east of the Bauer field.

With the continued drilling success and results to date, Beach's plan for exploration and development in FY2020, and the anticipated continuity of royalty payments over the long term, the Company is in the process of reviewing its dividend policy going forward.

The Company continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Santos Ltd to keep current during exploration, development and potential production of all the licenses subject to the Company's gross overriding royalty.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the accuracy or adequacy of this news release.

Cautionary Statement on Forward-Looking Information

This news release is intended to provide readers with a reasonable basis for assessing the future performance of the Company. The words "believe", "should", "could", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements may pertain to assumptions regarding Beach's drilling plans, the price of oil and fluctuations in currency markets (specifically the Australian dollar). Forward-looking statements are based upon a number of estimates and assumptions that, which are considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties and contingencies. Factors include, but are not limited to, the risk of fluctuations in the assumed prices of oil, the risk of changes in government legislation including the risk of obtaining necessary licences and permits, taxation, controls, regulations and political or economic developments in Canada, Australia or other countries in which the Company carries or may carry on business in the future, risks associated with developmental activities, the speculative nature of exploration and development, and assumed quantities or grades of reserves. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those acknowledged in such statements.

The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.

SOURCE Newport Exploration Ltd.

Werbung
Werbung
Börse Stuttgart Anlegerclub

Die richtige Strategie für die Börsenkrise

Stecken Sie nicht den Sand in den Kopf, sondern kaufen Sie die richtigen Aktien. Erfahren Sie im aktuellen Anlegermagazin mehr über attraktive Qualitätsaktien und zyklische Aktien
Kostenfrei registrieren und lesen!

Heute im Fokus

Wall Street wenig bewegt -- DAX unentschlossen -- VW-Finanzsparte stellt Rekordgewinn in Aussicht -- Bayer vergibt Milliardenauftrag -- Siltronic, Nike, Varta, Slack im Fokus

Defekte Takata-Airbags verursachen weitere Rückrufwelle. Britische Aufsicht untersucht Bestechungsverdacht bei Glencore. EU-Staaten behalten sich Recht auf Verbot von Libra und Co vor. FUCHS stärkt Präsenz in Afrika durch Joint Ventures. Fiat Chrysler weist italienische Steuerforderungen zurück.

Die 5 beliebtesten Top-Rankings

Diese Aktien hat Warren Buffett im Depot
Die Änderungen unter den Top-Positionen
Hohe Ausgaben
Die beliebtesten Weihnachtsgeschenke 2019
Das Schwarzbuch 2019
Wo 2019 sinnlos Steuern verbrannt wurden
Die wertvollsten Marken der Welt 2019
Diese Unternehmen sind vorne mit dabei
Die beliebtesten Arbeitgeber in Deutschland
Hier arbeiten die Deutschen am liebsten
mehr Top Rankings

Umfrage

Was wünschen Sie sich von der Großen Koalition?

Online Brokerage über finanzen.net

finanzen.net Brokerage
Handeln Sie für nur 5 Euro Orderprovision* pro Trade aus der Informationswelt von finanzen.net!

ETF-Sparplan

Oskar ist der einfache und intelligente ETF-Sparplan. Er übernimmt die ETF-Auswahl, ist steuersmart, transparent und kostengünstig.
Zur klassischen Ansicht wechseln
Kontakt - Impressum - Werben - Pressemehr anzeigen
Top News
Beliebte Suchen
DAX 30
Öl
Euro US-Dollar
Bitcoin
Goldpreis
Meistgesucht
Wirecard AG747206
Varta AGA0TGJ5
Daimler AG710000
NEL ASAA0B733
Deutsche Bank AG514000
Microsoft Corp.870747
EVOTEC SE566480
Amazon906866
Apple Inc.865985
Ballard Power Inc.A0RENB
Deutsche Telekom AG555750
BASFBASF11
Allianz840400
BayerBAY001
Siemens AG723610