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Enter Symbol
or Name
USA
CA



Newport Exploration Ltd
Symbol NWX
Shares Issued 79,279,874
Close 2015-03-31 C$ 0.40
Market Cap C$ 31,711,950
Recent Sedar Documents

ORIGINAL: Newport operator intersects 6.8 m oil pay in Bauer-23

2015-04-01 13:32 ET - News Release

Received by email:

File: NWX NR 04012015 FINAL.docx

NEWS RELEASE

Trading Symbol: NWX (TSX-V)

BAUER FIELD SECOND PAD DRILLING RESULTS EXPECTED TO ADD TO 2P RESERVES AND SUPPORT CURRENT PRODUCTION LEVELS

Vancouver, British Columbia, April 1st, 2015. Newport Exploration Ltd. ("Newport" or "the Company") is pleased to prov
--->ide an update on recent drill results from PRLs 151 to 172 (formerly PEL 91) in the Cooper Basin in Australia, which a
--->re subject to the Company's 2.5% gross overriding royalty.

In a news release dated April 1st 2015 Beach Energy Ltd ("Beach") reported the results from the second four-well pad d
--->rilling campaign (Bauer-20 to -23) that was completed in the Bauer Field targeting the highly productive Namur sandsto
--->ne reservoir and the overlaying McKinlay Member. The Bauer-20 to -23 pad wells were drilled approximately 10 metres ap
--->art at surface, with directional drilling commencing from depths of approximately 700 metres to reach target zones. Re
--->sults from the program were in line with Beach's pre-drill expectations with Bauer-23 producing an upside result after
---> intersecting a 6.8 metre Namur sandstone oil column. Beach's preliminary assessment of well results is summarized bel
--->ow.

Well
 High / (Low) to
Prognosis
(metres)
 Namur Sandstone
Oil Pay
(net; metres)
 McKinlay Member
Interval
(gross: metres)
 
 Bauer-20
 (2.0)
 2.8
 4.2
 
 Bauer-21
 0.3
 5.5
 4.2
 
 Bauer-22
 0.9
 5.3
 4.6
 
 Bauer-23
 3.1
 6.8
 4.0
 
 

Beach reports that when combined with the results from the first pad drilling program (Bauer-16 to -19), the second pa
--->d wells are expected to add 2P reserves and support current production levels. ("Reserves and Resources Disclosure Rul
--->es For Mining and Oil and Gas Companies" as required by the Australian Securities Exchange Rules and in compliance wit
--->h the Petroleum Resources Management System ("SPE-PRMS") definitions and guidelines-an internationally recognized Rese
--->rve Classification System for Oil and Gas Properties). 

The Longbottoms-1 exploration well in PRL 171 (centrally located between the Stunsail and Kalledeina oil fields) encou
--->ntered approximately one metre of net pay in the Namur sandstone and was plugged and abandoned due to the result being
---> sub-commercial.

The Company continues to strongly encourage shareholders and potential investors to access information released indepe
--->ndently by Beach and Drillsearch Energy Limited in order to keep current during an active period in the exploration an
--->d development of these licences. 

For further information contact:

Ian Rozier, Director and Chief Executive Officer 
+1 604 685 6851 

info@newport{‐ ‐}exploration.com
www.newport-exploration.com 
www.beachenergy.com.au
www.drillsearch.com
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, which contains certain forward-looking statements, is intended to provide readers with a reasonable
---> basis for assessing the financial performance of the Company. All statements, other than statements of historical fac
--->t, are forward-looking statements.  The words "believe", "should", "could", "expect", "anticipate", "contemplate", "ta
--->rget", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify
---> forward-looking statements.  These forward-looking statements pertain to assumptions regarding the price of oil, fluc
--->tuations in currency markets (specifically the Australian dollar and the U.S. dollar), the future funding of the Compa
--->ny's projects, and the future development of the Company's projects.  Forward-looking statements are necessarily based
---> upon a number of estimates and assumptions that, which considered reasonable by the Company, are inherently subject t
--->o significant business, economic and competitive uncertainties and contingencies. Known and unknown factors could caus
--->e actual results to differ materially from those projected in the forward-looking statements.  Such factors include, b
--->ut are not limited to, the risk of fluctuations in the assumed exchange rates of currencies that directly impact the C
--->ompany, such as the Canadian dollar, Australian dollar and U.S. dollar, the risk of fluctuations in the assumed prices
---> of oil, the risk of changes in government legislation, taxation, controls, regulations and political or economic deve
--->lopments in Canada, the United States, Australia or other countries in which the Company carries or may carry on busin
--->ess in the future, risks associated with developmental activities, the speculative nature of exploration and developme
--->nt, including the risk of obtaining necessary licences and permits, and assumed quantities or grades of reserves. Many
---> of these uncertainties and contingencies can affect the Company's actual results and could cause actual results to di
--->ffer materially from those expressed or implied in any forward-looking statements made by, or on behalf of, the Compan
--->y. Readers are cautioned that forward-looking statements are not guarantees of future performance. There can be no ass
--->urance that such statements will prove to be accurate and actual results and future events could differ materially fro
--->m those acknowledged in such statements. 

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




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