Trading Symbol: NWX (TSX-V)
Annual Dividend and 2021 Share Price Performance
The
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
Guidance
The Company has an advantageous business model with a 2.5% GOR over permits in the
As reported in a Company News Release dated
Beach updated their FY21 guidance with their half year results on
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
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 (
About Newport
Newport holds a 2.5% GOR on several oil and gas licences and permits in the
The Company receives its GOR from Beach which is not a reporting issuer in
The Company currently has 105,579,874 common shares issued and outstanding, and after this dividend to shareholders has approximately
Neither the
Cautionary Statement on Forward-Looking Information
This news release is intended to provide readers with a reasonable basis for assessing the future performance of the Company. The words "believe", "should", "could", "expect", "anticipate", "contemplate", "target", "plan", "intends", "continue", "budget", "estimate", "may", "will", "schedule" and similar expressions identify forward-looking statements. Forward-looking statements may pertain to assumptions regarding Beach's drilling plans, the price of oil, fluctuations in currency markets (specifically the Australian dollar) and future dividend payments. Forward-looking statements are based upon a number of estimates and assumptions that, which are considered reasonable by the Company, are inherently subject to business, economic and competitive uncertainties and contingencies. Factors include, but are not limited to, the risk of fluctuations in the assumed prices of oil, the risk of changes in government legislation including the risk of obtaining necessary licences and permits, taxation, controls, regulations and political or economic developments in
The Company disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except to the extent required by applicable laws.
SOURCE
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