Newport Exploration Ltd ("Newport" or "the Company") provides an update on guidance for licences in the Cooper Basin, Australia, over which the Company has a 2.5% gross overriding royalty ("GOR"). This guidance was reported by Beach Energy Ltd ("Beach") (ASX:BPT) in its FY21 Fourth Quarter Activities Report dated 21 July 2021.
Newport Exploration Ltd ("Newport" or "the Company") is pleased to announce the payment of its second quarterly cash dividend ("the Dividend") in 2021 of $0.02/share, to its shareholders of record at the close of business on May 26th, 2021. As previously disclosed, the Company proposes to continue with the payment of quarterly dividend distributions, with the next payment scheduled for September, 2021.
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 February 2021 – April 2021 quarter. Gross royalty income for the quarter was AUD$2,761,395. The AUD$1,932,977 payment received by Newport is net of 30% Australian withholding taxes (AUD$828,418).