Last C$0.37 CAD
Change Today +0.03 / 8.82%
Volume 90.5K
NWX On Other Exchanges
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As of 3:58 PM 01/27/15 All times are local (Market data is delayed by at least 15 minutes).

newport exploration ltd (NWX) Snapshot

Open
C$0.36
Previous Close
C$0.34
Day High
C$0.37
Day Low
C$0.35
52 Week High
04/29/14 - C$0.70
52 Week Low
02/4/14 - C$0.09
Market Cap
29.3M
Average Volume 10 Days
136.4K
EPS TTM
C$0.12
Shares Outstanding
79.1M
EX-Date
--
P/E TM
3.1x
Dividend
--
Dividend Yield
--
Current Stock Chart for NEWPORT EXPLORATION LTD (NWX)

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newport exploration ltd (NWX) Details

Newport Exploration Ltd., an exploration stage company, engages in the acquisition and exploration of mineral properties in Canada. The company holds a 100% interest in the Chu Chua project, a sulphide deposit located north of Kamloops, British Columbia. It also has interest in petroleum exploration permits in Australia. The company was incorporated in 1979 and is headquartered in Vancouver, Canada.

Founded in 1979

newport exploration ltd (NWX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: C$180.0K
Chief Financial Officer, Director and Member ...
Total Annual Compensation: C$137.5K
Compensation as of Fiscal Year 2014.

newport exploration ltd (NWX) Key Developments

Newport Exploration Ltd. Provides an Update on Drill Results in the Cooper Basin, Australia

Newport Exploration Ltd. announced that to provide an update on drill results in the Cooper Basin, Australia, which are subject to the company's 2.5% gross overriding royalty. PRL's 151 to 172 (formerly PEL 91): As reported by the company (dated December 23, 2014), Bauer-18, the last well of six-well oil development campaign in the Bauer field, was completed in December. An additional 4.2m oil bearing gross interval of overlying McKinlay Member was also intersected. Bauer-18 was cased and suspended as a future Namur Sandstone producer. Beach reported that the six recently drilled Bauer development wells are all expected to be online in early 2015 and that an increase in 2P reserves is expected. The Hanson-2 oil development well was spudded on 29th December 2014 and has reached total depth. Beach reports that the well is currently being evaluated with initial indications of an 8.0m gross oil column in the McKinlay Member and Namur Sandstone reserves. PRL's 129 to 130 (formerly PEL 106): Beach reported that the four-well exploration and appraisal campaign, which is proximal to the existing Canunda field and gas pipeline to Middleton, was completed in December. The program targeted gas and gas liquids in the Patchawarra Formation and Tirrawarra Sandstone. The Canunda-2 well was cased and suspended in October 2014. Maupertuis-1, the second well in the program, was also cased and suspended. The Antechamber-1 and Danville-1 wells were drilled in December, with the wells being plugged and abandoned after failing to intersect commercial hydrocarbons. The company continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Drillsearch in order to keep current during an active period in the exploration and development of these permits.

Newport Exploration Ltd. Provides Further Update on Developments on PEL 91 in the Cooper Basin, Australia

Newport Exploration Ltd. provided a further update on developments on PEL 91 in the Cooper Basin, Australia which is subject to the company's 2.5% gross overriding royalty. Bauer-18: Drillsearch Energy Ltd. have reported that Bauer -18 has since been completed and has also been cased and suspended as a future producer. Balgowan Field 2P Reserves Estimation: The company advised that the Balgowan-1 exploration well in PEL 91 confirmed expectations of an oil fairway extension to the north-east of recent discoveries by intersecting a gross oil interval of approximately nine metres. Of this, 3.5 metres of net pay was encountered in the Namur Sandstone and two metres of net pay in the overlaying McKinlay Member. Based on these results, Balgowan-1 was cased and suspended as a future McKinlay Member /Namur Sandstone oil producer.Beach Energy Ltd. has subsequently reported estimated 2P gross reserves for the Balgowan field of 344,000 barrels of oil (kbbl). Beach also reported that commercial productivity of the McKinlay Member and Namur Sandstone reservoirs is proven in offset fields within PEL 91 and that the Balgowan field is analogous to commercially producing fields in PEL 91, including Bauer, Chiton, and Hanson. As such, Beach has a high degree of confidence in the commercial productivity of the McKinlay Member /Namur Sandstone reservoirs at Balgowan. Beach believes that the Balgowan field can be developed via a four kilometre flowline to transport formation fluid to the proposed Stunsail facility. Following processing at the Stunsail facility, oil will be transported via the proposed 19 km Stunsail to Bauer flowline, or trucked directly to the Lycium hub as required. The proposed Stunsail facility is expected on-line by July 2015, with the tie-in of Balgowan-1 expected at that time. Burners-1: On 15th October 2014, the company reported on the Burners-1 exploration discovery, which intersected one metre of net pay in the Namur Sandstone and a five metre oil bearing gross interval in the overlying McKinlay Member. Beach reported that a drill stem test over the McKinlay Member (1,411 metres to 1,418 metres) recovered 5.1 barrels of oil from a four hour flowing period. Due to the limited flow rate and net pay intersected in Burners-1, Beach report that the well is not scheduled for development this financial year. Burners-1 has been cased and suspended and will be considered for future tie-in to the proposed Stunsail production facility. The recent drilling campaign on PEL 91 has delivered six successful development wells at Bauer and two oil discoveries at Balgowan-1 and Burners-1.

Newport Exploration Ltd. Announces Update on Developments of PEL 91 and PEL 106 in the Cooper Basin, Australia

Newport Exploration Ltd. provided a further update on developments on PEL 91 and PEL 106 in the Cooper Basin, Australia both of which are subject to the company's 2.5% gross overriding royalty. Following the successful Bauer -19 development well, the Operator, Beach Energy Ltd, reported that three more wells are planned to be drilled at Bauer in the next 30 days. Beach also reported that with the discoveries at Stunsail-1, Balgowan-1 and Burrows-1 wells, the Namur play fairway has been extended to the northeast on PEL 91, and that planning is underway to further appraise the Bauer, Chiton, Stunsail and Pennington fields with new focus on untapped potential in the mid-Namur, Birkhead, Poolawana and Patchawarra formations. Beach reported that new pipelines from CKS (Congony-Kalladeina-Sceale), Stunsail and Pennington facilities will feed into a new hub to be a gateway for transportation of oil through a single pipeline to Bauer, with the Balgowan field expected to tie-in to the Stunsail facility and be on-line in April 2015. Planning is also underway for a Pennington facility which Beach expects to be on-line in June 2015. As previously reported by the company, the current 3D seismic program on PEL 91 is expected to generate additional targets, focusing on acreage to the north of Bauer; recording is 90% complete with processing and interpretation of data expected to take six months. The Canunda-2 appraisal well has been cased and suspended as a future producer of gas and condensate and the Maupertuis-1 well is currently being drilled with two further exploration wells, Antechamber-1 and Danville-1, planned for 2015. The company continues to strongly encourage shareholders and potential investors to access information released independently by Beach and Drillsearch Energy Ltd.

 

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