Newport Exploration Ltd ("Newport" or "the Company") announces that, effective September 22nd, 2023, Saturna Group, Chartered Professional Accountants LLP have been appointed as the Company's auditor until the next annual general meeting of the Company. Saturna Group replaces KPMG LLP as the Company's auditor.
Newport Exploration Ltd ("Newport" or "the Company") is pleased to report the receipt of its after tax 2.5% Gross Overriding Royalty ("GOR") payment from Beach Energy Ltd. ("Beach") for the May 2023 – July 2023 quarter. Gross royalty income for the quarter was AUD$1,279,749. The AUD$895,824 payment received by Newport is net of 30% Australian withholding tax (AUD$383,925).
Newport Exploration Ltd ("Newport" or "the Company") provides an update on operations and reserves for licences in the Cooper Basin, Australia, over which the Company has a 2.5% gross overriding royalty ("GOR"). This information was reported by Beach Energy Ltd ("Beach") (ASX: BPT) in its 2023 Annual Report and FY23 Results Presentation, both dated 14th August 2023.