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Newport Exploration Ltd. (NWX.V)

TSXV - TSXV Real Time Price. Currency in CAD
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0.4500-0.0050 (-1.10%)
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  • K
    Kenneth
    We broke out of our 0.40 - 0.445 Wall! Let's see what Monday brings!

    In the future I can see people regretting they didn't get in early enough. Own only 958 shares but that gives me a nice $18 Quarterly which is insane!

    See yall tomorrow morning!
  • F
    Fayssal
    Why is it not movin?
  • D
    Derek James Trapp
    Just found this and I’m very intrigued.

    If I were to buy $40 worth at 0.40 a share that would get me 100 shares.

    100 x 0.02 is $2 a quarter for $8 annual.

    If you held for 5 years it would pay off investment just on dividend payments never mind stock growth!
    Bullish
  • L
    Levent
    I collect 3 -1 - 2 cents C$ divident so far. I have 61.500 shares. My av.cost C$ 0.51, I don't think
    I should sell ever. I really don't care about daily share prices. I am buying other shares with this dividents, they called organic growth for portfolio.Lol.
  • S
    Sharby
    I couldn’t find anything wrong… please correct me if I’m wrong but this is a hidden gem. 18% dividend yield on current price. I’m in $50,000 CDN.
    Bullish
  • S
    Sharby
    Oil keeps going up… let’s see that “3” cents dividend!
    Bullish
  • S
    Sharby
    We hit $0.45 per share. Moving up in the world… I hope it doesn’t go higher I want to keep loading up
    Bullish
  • L
    Levent
    Crude Oil WTI $74.00 this morning, Brent Oil $76.12.
    Australia using Brent Oil prices for trades.
    Some analiysts says " we will see $100 for WTI by the and of the year."
    If so, this wouldn't be dream regular C$ 0.02 divident each quarter.
  • C
    Candle_66
    Any idea if this going to head towards .50 I have 18500 shares at .4250 avg and love the divi but looking to see if i can get some capital appreciation at same time
  • F
    Fayssal
    Who got paid?
  • S
    Sharby
    How is this company so cheap?
    Bullish
  • A
    Andrew
    why the sudden drop today?
  • L
    Levent
    Brent Petrol price $ 68.44 USD, I believe 02 cent divident will be paid rest of the quarters.
  • m
    max
    what is the real dividend in%
  • H
    Harold
    PR TODAY GIVES UPDATE ON THE COMPANY AND ANNOUNCES NEXT DIVIDEND PAYMENT FOR JUNE. ALL GOOD NEWS.

    " Newport Exploration Ltd ("Newport" or "the Company") is pleased to announce the payment of its first quarterly cash dividend ("the Dividend") in 2021 of $0.01/share to its shareholders of record at the close of business on February 25th, 2021. As previously disclosed, the Company proposes to continue with the payment of quarterly dividend distributions, with the next payment scheduled for June, 2021

    Annual Dividend and 2021 Share Price Performance

    The $0.01/share dividend paid on September 10th, 2020, the $0.03/share dividend paid on December 11th, 2020 and the first quarterly dividend payment in 2021 of $0.01/share dividend paid on March 12th, 2021, along with the dividend to be paid in June, 2021, will be recorded in the Financial Year ended July 31, 2021. The Company's ability to return cash to shareholders is attributed to the recurring free cash flow generated by its 2.5% Gross Overriding Royalty ("GOR") from licences in the Cooper Basin, Australia, operated by Beach Energy Ltd ("Beach").

    Since 2015 the Company has paid an average Annual Yield of 21%. With Beach's exploration success, reported oil reserves and low production costs, Management is confident that shareholders of the Company should continue to be rewarded with dividend continuity.

    Investors are cautioned that historical results are no guarantee of future performance.

    Management Strategy

    As reported in a Company News Release dated February 10th, 2021, Management's dividend strategy has enabled the Company to retain a margin of safety to maintain dividend distributions despite the sector downturn in 2020, with the option of increasing the quarterly dividend at any time, as it did in December, 2020 with the tripling of the scheduled quarterly dividend amount.

    Guidance

    The Company has an advantageous business model with a 2.5% GOR over permits in the Cooper Basin, Australia, with strong technical fundamentals and excellent operators in Beach and Santos Ltd ("Santos"). Beach is Australia's largest onshore oil producer with a core focus on oil exploration and development activities in the Cooper Basin. Newport has built in exposure to significant potential growth at zero risk to shareholders as there is no time limit or expiry date on the GOR assets, and no cost to the Company to retain or operate them.

    As reported in a Company News Release dated January 28th, 2021, Beach continue to achieve extraordinary exploration success (particularly in oil fields on ex-PEL 91). Accordingly, Management is confident that shareholders of the Company should continue to be rewarded with dividend continuity.

    Beach updated their FY21 guidance with their half year results on February 15th, 2021, and these were summarized in a Company News Release dated February 17th, 2021.

    The deficit between supply and demand that had reached 2.3 million barrels a day in the fourth quarter of 2020, and the large projected draws in 2021 and 2022 are positive for oil prices. The recent increase in the price of Brent oil is encouraging. Also, as noted in previous Company news releases, shareholders are reminded that Beach's oil products command a premium price to the Brent oil price.

    "The supply and demand dynamic as indicated by the declines in US oil inventories, along with a global economic recovery from the Covid pandemic all play out in the form of higher oil prices, as is happening, and this should be reflected in our royalty payments, and in turn, the dividends paid to shareholders.", stated Ian Rozier, President and CEO of Newport.

    Newport has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach's current financial status and/or operating plans going forward. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR. Beach's results and performance are also subject to regular research reports by J.P. Morgan (Asia Pacific Equity Research) and by RBC Capital Markets.

    About Newport

    Newport holds a 2.5% GOR on several oil and gas licences and permits in the Cooper Basin in Australia. These licences and permits are currently being operated and explored by Beach and Santos both major Australian oil and gas producers.

    The Company receives its GOR from Beach which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.

    The Company currently has 105,579,874 common shares issued and outstanding, and after this dividend to shareholders has approximately $6.1 million in the Treasury (compri
    Bullish
  • H
    Harold
    UPDATE FROM MANAGEMENT QUITE POSITIVE. THEY HAVE BEEN QUITE CLEAR REGARDING DIVIDENDS. QUARTERLY .01 TO BE INCREASED IF REVENUE STREAMS PROVIDE EXCESS. THUS SOME QUARTERS MAY BE HIGHER. BUT THEY ARE REALISTIC ENOUGH NOT TO OVER STRESS THE MONETARY DRAW DOWN.
    "("Newport" or "the Company") is pleased to provide additional Guidance as provided by Beach Energy Ltd ("Beach") for future production targets, expenditures and Life of Assets on the Western Flank of the Cooper Basin, Australia. (Note: Western Flank includes the Company's GOR licences ex-PEL's 91, 106, 107 and PRL 26, as well as ex-PEL's 92, 104 and 111, over which the Company does not have a GOR)
    Slightly lower oil production from the Western Flank was reported in a Company News Release dated January 28th, 2021. The Company anticipates that this will be offset by higher oil prices in the current quarter.
    In a News Release dated January 28th, 2021, the Company made reference to Beach's FY21 Second Quarter Activities Report (the "Report") for the period ended 31st December, 2020. Highlights of the Report were:

    A total of eight new wells were brought online during that quarter, with seven horizontal producers and one vertical producer.

    Beach reported that four vertical oil producers were to be brought online in their Q3 FY21.

    Beach reported that a further four horizontal wells were also to be brought online in their Q3 FY21.
    In their Half Year Results reported on February 15th, 2021, and in their Management Call, Beach provided further guidance relevant to the Company's GOR Licences. Highlights are:

    Beach report that well interference from McKinlay drilling on the existing Namur and McKinlay producers has resulted in faster than estimated decline rates. Beach have not made any adjustments to reserves as a result of this.

    The eight wells referenced in the Report are soon to be connected.

    Beach have a further six horizontal wells planned for H2 FY21 in the Bauer Field.

    Forecast Capital Expenditure for the Western Flank is AUD$800M-AUD$1B

    Beach are targeting production of 20,000 boed and are currently at 18,000boed.

    Beach plan to maintain production rates at between 15 and 20kboed.

    Beach estimate that Life of Assets on the Western Flank is greater than 15 years.
    "With Beach continuing to replace reserves, bringing several new wells online, their targeted production volumes, budgeted expenditures and particularly their estimated Life of Assets, all provide very positive guidance for Newport and our shareholders.", stated Ian Rozier President and CEO of Newport.

    Newport has no control over operating decisions by Beach. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos Ltd ("Santos") in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR. Beach's results and performance are also subject to regular research reports by J.P. Morgan (Asia Pacific Equity Research) and by RBC Capital Markets.

    About Newport

    Newport holds a 2.5% GOR on several oil and gas licences and permits in the Cooper Basin in Australia. These permits are currently being operated and explored by Beach and Santos, both major Australian oil and gas producers. The Company receives its GOR from Beach which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.

    The Company currently has 105,579,874 common shares issued and outstanding"
    Bullish
  • H
    Harold
    and the monies keep coming in!!
    Royalies from Australia continue to flow to the treasury of NWX so dividends to shareholders are properly funded.
    "("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 November 2020-January 2021 quarter. Gross royalty income for the quarter was AUD$2,568,598. The AUD$1,798,019 payment received by Newport is net of 30% Australian withholding taxes (AUD$770,57

    Newport has approximately CDN$7.1 million in its Treasury, comprised of cash, cash equivalents and short-term investments, with no debt. As announced on February 10th, 2021, Newport's first quarterly dividend payment date for 2021 is March 12th, 2021. After the dividend payment, the Company will have approximately CDN$6 million in its Treasury.

    The Company has a strong balance sheet and management is confident in its ability to maintain regular quarterly dividend payments as committed to in the News Release dated December 10th, 2019.

    Newport's Dividend Performance, Annual Yields and Earnings Per Share since 2015 were documented in a Company News Release dated November 12th, 2020. Investors are cautioned that historical results are no guarantee of future performance.

    Management Strategy

    The Company's management Strategy was summarized in a Company News Release dated February 10th, 2021.

    Newport proposes to maintain regular dividend payments to shareholders with the option of increasing quarterly payments at any time.

    Guidance

    Up-to-date Guidance for shareholders was reported in a Company News Release dated February 17th, 2021.

    With the success of the drilling programs conducted by Beach over which the Company holds its 2.5% GOR, Beach's low cost of oil production and the projected Life of Assets of over 15 years (as reported in a Company News Release dated February 17th, 2021), the Company anticipates continuity of production, associated royalty revenues and dividends.

    Newport has no control over operating decisions made by Beach. Accordingly, this prevents the Company from commenting on Beach's operating plans going forward. The Company recommends that shareholders and potential investors access material information relevant to the Company as released independently by Beach and Santos Ltd ("Santos") in order to keep current during exploration, development and potential production of all the licences subject to the Company's GOR. Beach's results and performance are also subject to regular research reports by J.P. Morgan (Asia Pacific Equity Research) and by RBC Capital Markets.

    "Brent Oil recently hitting a 13-month high marks the oil markets rebound since the Covid pandemic destroyed demand for most of 2020. As the global economy recovers oil demand is expected to continue to increase, and along with Beach's plans to bring eight producers online and to drill six more horizontal wells, this is all very positive for Newport and its shareholders.", stated Ian Rozier, president and CEO of Newport.

    About Newport

    Newport holds a 2.5% GOR on several oil and gas licences and permits in the Cooper Basin in Australia. These permits are currently being operated and explored by Beach and Santos, both major Australian oil and gas producers. The Company receives its GOR from Beach which is not a reporting issuer in Canada, therefore Newport is not able to confirm if the disclosure satisfies the requirements of NI 51-101 - Standards of Disclosure for Oil and Gas Activities, or other requirements of Canadian securities legislation.

    The Company currently has 105,579,874 common shares issued and outstanding.
    Bullish
  • H
    Harold
    NEXT DIVIDEND COMING! MANagement gives encouraging outlook for continued revenue stream

    "[/("Newport" or "the Company") is pleased to announce its first quarterly cash dividend ("the Dividend") in 2021 of $0.01 per share to its shareholders of record at the close of business on February 25th, 2021. The Dividend payment date is March 12th, 2021. The Dividend, fully approved by the Board of Directors, is not subject to any changes and has been designated as an "eligible dividend" for Canadian income tax purposes.

    The $0.01/share dividend paid in September 2020, the $0.03/share dividend paid in December 2020 and the $0.01/share dividend to be paid in March 2021 will be recorded in the Financial Year ended July 31, 2021.

    The Company's Dividend Performance, Annual Yields and Earnings per Share since 2015 were documented in a Company News Release dated November 12th, 2020. Newport's dividend payout ratio, being the cash dividends per share of common stock divided by the earnings per share of common stock, compares favorably with that of other yield stocks, particularly those in the energy sector. Investors are cautioned that historical results are no guarantee of future performance.

    Management Strategy

    Management has received overwhelming support from shareholders for its dividend policy, and many shareholders have expressed the sentiment that paying out a regular dividend at this time is a priority. The dividend strategy has enabled the Company to retain a margin of safety to maintain dividend distributions despite the sector downturn in 2020, with the option of increasing the quarterly dividend at any time.

    The Company has an advantageous business model with a 2.5% Gross Overriding Royalty ("GOR") over permits in the Cooper Basin, Australia, with strong technical fundamentals and with excellent operators in Beach Energy ("Beach") and Santos Ltd ("Santos"). Beach is Australia's largest onshore oil producer with a core focus on oil exploration and development activities in the Cooper Basin. Newport has built in exposure to significant potential growth at zero risk to shareholders as there is no time limit or expiry date on the GOR assets, and no cost to the Company to retain them.

    Guidance

    As reported in a Company News Release dated January 28th, 2021, Beach continue to achieve extraordinary exploration success (particularly in oil fields on ex-PEL 91), and have maintained very low production costs. In doing so, Beach has achieved both reserve replacement and positive cash flow. Also, Beach's exploration success, reported oil reserves, and low production costs have allowed it to limit spending without threatening future output from licenses in the Cooper Basin, over which the Company has its GOR.

    Although Beach's production from ex-PEL 91 for their December 2020 quarter was below the previous quarter, Beach has made no changes to full year production guidance. Accordingly, Management is confident that shareholders of the Company should continue to be rewarded with dividend continuity. Beach plans to update their FY21 guidance with their half year results on February 15th, 2021."
    Bullish
  • H
    Harold
    I will commend management for properly handling today's news regarding Beach's report of decreased oil projections.
    It's not a major imminent problem with oil prices rising but has to adjust the life of the production.
    Reserve Update

    Beach report that a review of 2P reserves across the Western Flank oil and gas fields, including the Bauer oil field on ex-PEL 91, was undertaken following recent declines in oil production. This review has resulted in a net downgrade to 2P reserves across their Western Flank assets. (Note: Western Flank includes the Company's GOR licences ex-PEL's 91,106,107 and PRL 26, as well as ex-PEL's 92,104 and 111, over which the Company does not have a GOR).

    With respect to the GOR licences;

    oil reserves in the Bauer oil field in ex-PEL 91 have been downgraded by 6.0 MMboe
    oil reserves in four other fields in ex-PEL 91 have been downgraded by 8.2 MMboe
    reserves in ex-PEL 106 gas fields have been downgraded by 7.2 MMboe
    Production Update

    Beach have not provided a specific production update for the GOR licences. However, Beach forecast FY21 production of 8.6MMboe for the Western Flank assets. Beach estimate that FY22 Western Flank oil production is expected to be 4.0-5.0 MMbbls below their previous estimates.

    The Company will update shareholders as soon as it is in receipt of any specific production forecasts for the GOR licences.

    Drilling Update

    Drilling of the FY21 wells was completed in March 2021 and they are being progressively connected and completed on pump. This activity will continue into Beach's FY22.

    The FY22 drilling program will focus on;

    infill drilling within existing oil fields
    exploration of Namur targets
    exploration of over 100 targets and leads already identified and prioritized
    Guidance

    Beach updated their FY21 Guidance with their Half Year results on February 15th, 2021, and this was summarized in a Company News Release dated February 17th, 2021. Beach report that since the FY21 Half Year Results, additional production data from Bauer oil wells drilled throughout the FY21 drilling campaign confirmed production decline. In addition, Beach report that recent results from oil wells drilled outside of the Bauer oil field, including the Balgowan, Chiton, Hanson and Kalladeina fields have "come in at the low end of expectation".

    Beach report that as a result of continuing variability to the business, which include adjustments because of the Covid-19 pandemic, and reductions in Western Flank oil and gas production, it has withdrawn, and will no longer provide, a five-year outlook in its current form.

    "Obviously we are pleased with the recent increase in the oil price and this should offset the effects on the GOR of a possible decrease in production for the current quarter, but the downgrading of reserves is disappointing for the long term." stated Ian Rozier, President and CEO of the Company.

    Because of the time-zone difference, disclosure of information contained in this news release and as provided by Beach was available in Australia on Thursday April 29, 2021 after market hours in Canada. Because of the uncertainty in being able to disseminate this news release in a timely manner on Friday April 30, 2021 the Company took advice from its legal counsel and asked for trading in the Company's shares to be halted pending dissemination such that shareholders and potential investors unaware of the Beach ASX announcement made late on Thursday April 29, 2021 PST, would not be disadvantaged.
    Neutral
  • L
    Levent
    2021-01-28 13:52 ET - News Release

    Mr. Ian Rozier reports

    NEWPORT REPORTS ON BEACH'S SECOND QUARTER 2021 PRODUCTION; CONTINUED DRILLING SUCCESS ON BAUER FIELD IN EX-PEL 91; EIGHT NEW WELLS TO COME ONLINE

    Newport Exploration Ltd. has provided an update on production and drilling activities on licences in the Cooper basin, Australia, over which the company has a 2.5-per-cent gross overriding royalty (GOR). This information was reported by Beach Energy Ltd ("Beach") (ASX: BPT) in its FY21 Second Quarter Activities Report for the period ended 31st December, 2020 ("Beach Quarter Report").

    PRODUCTION

    Highlights of the second quarter production from the Cooper Basin and Western Flank reported by Beach were:

    Production from the Western Flank was 2.3MMboe, down 4% on the prior quarter, with higher gas and gas liquids offsetting lower oil production. (Note: Western Flank includes the Company's GOR licences ex-PEL's 91, 106,107 and PRL 26, as well as licenses ex-PEL's 92, 104 and 111, over which the Company does not have a GOR).

    Western Flank gas and gas liquids was 586 kboe, up 15% on the previous quarter.

    Gross average daily oil production from ex-PEL 91 was 16.9kbbl/day, down 10% on the previous quarter.

    Beach report their average realized price across all products was AUD$53.4/boe, a 3% increase over the prior quarter.

    The average realized price of oil was AUD$65.3/bbl, up 1% on the previous quarter.

    A total of eight new wells were brought online during the quarter, with seven horizontal producers and one vertical producer.

    Four vertical oil producers will be brought online in Beach's Q3 FY21.

    A further four horizontal wells will also be brought online in Beach's Q3 FY21.

    Ex-PEL 91 continues to make a major contribution to Beach's operated oil production.

    DRILLING

    Highlights of the second quarter drilling by Beach on ex-PEL 91 were:

    Beach achieved a 100% success rate on ex-PEL 91 with the Bauer 67 and 68, Chiton 12, Kalladeina 12, 13 and 14, and Balgowan 5 and 6 wells, all being cased and suspended as future producers.

    Also on ex-PEL 91, Bauer 69 is drilling ahead at quarter-end.

    These very positive drilling results follow Beach's successful drilling and development results in the Bauer Field as reported in the Company News release dated October 26th, 2020.
    Bullish