# /C O R R E C T I O N -- Newport Exploration Ltd./

Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f

Original source: https://money.tmx.com/en/quote/NWX/news/7994814794434133/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd

Publisher: tmx

Original announcement: 2025-08-07T17:09:00.000Z

Analysis by Minestarters Atlas

Atlas analysis published: Unknown date

Atlas analysis updated: Unknown date

- Company: Newport Exploration Ltd.

- Ticker: NWX

- Exchange: TSX

- Region: Cooper Basin, Australia

- Primary commodity: Oil

- Secondary commodities: Gas

- Document categories: Resource update, Production

- Extracted: 2026-08-24 02:50:29 UTC

Narrative sentiment: -0.40 · Bearish

## Minestarters Atlas summary

Newport Exploration Ltd. issued a correction regarding its royalty interests in the Cooper Basin, reporting a 33% year-on-year production decrease for the Western Flank due to natural decline and flooding. The company also clarified Western Flank reserve figures for oil and gas, while noting that these reserves are not prepared under NI 51-101 standards.

Reasoning: The announcement is a correction to a previous release, reporting a significant production decline \(33%\) and highlighting that the reserves \(reported by a third party, Beach Energy\) do not meet Canadian NI 51-101 reporting standards.

- Negative factor: 33% decrease in production due to field decline and flooding

- Negative factor: Reserves not prepared in accordance with NI 51-101 standards

- Negative factor: Company unable to confirm if reserves were prepared by a qualified evaluator

Low confidence — this extraction should be reviewed alongside the original source.

Facts used in scoring: 5

## Classification and evidence

**Inferred Resource**

Polarity: negative

Definition: Speculative category — limited drilling, geological continuity assumed but not confirmed. Cannot support economic studies alone.

Why it applies: The reserves are reported by a third party and the company explicitly states they are not prepared in accordance with NI 51-101 standards.

Evidence · text

> the reserves are not prepared in accordance with NI 51-101- Standards of Disclosure for Oil and Gas Activities

**No QP/CP Disclosure**

Polarity: negative

Definition: No Qualified Person or Competent Person named — lower credibility for the estimate. A QP/CP should be a member of a recognized professional association with relevant experience.

Why it applies: The issuer is unable to confirm if the reserves were prepared by a qualified reserves evaluator or auditor in accordance with NI 51-101.

Evidence · text

> The issuer is unable to confirm that the Reserves and Resources were prepared by a qualified reserves evaluator or auditor, in accordance with NI 51-101.

## Extracted facts

Stored fact records: 5. Some facts used in scoring do not have a stored record.

## Resource Estimates (5)

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f#fact-resource-facts-0)

oil

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: oil
- Ticker: NWX

#### Resource Data

- Category: proven
- Tonnes: 188000
- Contained Metal: 188000
- Contained Unit: boe

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-08-06T00:00:00.000Z

#### Dates

- Event date: 2025-08-07T00:00:00.000Z

Reasoning: 1P Oil reserves \(40% of 4.7 MMboe\) reported by Beach Energy.

- Negative factor: Not NI 51-101 compliant

Evidence · text

> Oil – 4.7 MMboe \(40% is attributable to the Company's GOR licences\)

### proven

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f#fact-resource-facts-1)

gas

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: gas
- Ticker: NWX

#### Resource Data

- Category: proven
- Tonnes: 1200000
- Contained Metal: 1200000
- Contained Unit: boe

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-08-06T00:00:00.000Z

#### Dates

- Event date: 2025-08-07T00:00:00.000Z

Reasoning: 1P Gas reserves \(100% of 1.2 MMboe\) reported by Beach Energy.

- Negative factor: Not NI 51-101 compliant

Evidence · text

> Gas – 1.2 MMboe \(100% is attributable to the Company's GOR licences\)

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f#fact-resource-facts-2)

oil

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: oil
- Ticker: NWX

#### Resource Data

- Category: probable
- Tonnes: 4292000
- Contained Metal: 4292000
- Contained Unit: boe

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-08-06T00:00:00.000Z

#### Dates

- Event date: 2025-08-07T00:00:00.000Z

Reasoning: 2P Oil reserves \(37% of 11.6 MMboe\) reported by Beach Energy.

- Negative factor: Not NI 51-101 compliant

Evidence · text

> Oil – 11.6 MMboe \(37% is attributable to the Company's GOR licences\)

### probable

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f#fact-resource-facts-3)

gas

Historical result

Needs review: historical\_restatement

#### Identity

- Commodity: gas
- Ticker: NWX

#### Resource Data

- Category: probable
- Tonnes: 1500000
- Contained Metal: 1500000
- Contained Unit: boe

#### Review

- Needs Review: Yes
- Review Reason: historical\_restatement
- Historical: Yes
- Historical Source Date: 2025-08-06T00:00:00.000Z

#### Dates

- Event date: 2025-08-07T00:00:00.000Z

Reasoning: 2P Gas reserves \(100% of 1.5 MMboe\) reported by Beach Energy.

- Negative factor: Not NI 51-101 compliant

Evidence · text

> Gas – 1.5 MMboe \(100% is attributable to the Company's GOR licences\)

### Fact 5

[Link to this fact](https://atlas-staging.minestarters.com/news/c-o-r-r-e-c-t-i-o-n-newport-exploration-ltd--ed537f40-7010-4cfa-a9f2-f0d782b1da5f#fact-resource-facts-4)

oil

#### Identity

- Commodity: oil
- Ticker: NWX

#### Review

- Needs Review: No
- Historical: No

#### Dates

- Event date: 2025-08-07T00:00:00.000Z

Reasoning: Total Western Flank production was 2.3 MMboe, a 33% decrease.

- Negative factor: 33% decrease from prior year

- Negative factor: production interruptions from flooding

Evidence · text

> total Western Flank production for the year was 2.3 MMboe, a decrease of 33% from the prior year.

## How Atlas produces this analysis

Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.