Newport Exploration Ltd. provided an update on drill results and successful conversion of Exploration Licenses ("PEL's") to Production Licenses ("PRL's") in the Cooper Basin in Australia, which are subject to the company's 2.5% gross overriding royalty. Beach Energy Ltd. (Beach) reports that on PEL 91, twenty-two Production Retention Licenses have been granted with designation numbers PRL 151 to PRL 172 which secures tenure for this
Western Flank oil operation for up to 15 years. Beach also reports that on PEL 106, two PRL's have been granted with designations number PRL
129 and 130, which secures tenure for this Western Flank wet gas operations for up to 15 years. Beach reported that drilling continued during the December quarter on the PRLs 151 to 172 and PPLs 253 to 256, formerly known as PEL 91. Six new Bauer development wells, Bauer-14 to -19,
were all cased and suspended as future oil producers. As reported by Beach in their Quarterly Report ending December 31st 2014, and oil production increased 3.5% to 423 kbbl (net), mainly due to higher production from the Bauer field. The Bauer-16 to -19 wells are part of a broader full field development plan aimed at optimising production through the development of the highly productive Namur Sandstone reservoir. Following the success of the four-well pad drilling program in the December quarter, Beach has brought forward the drilling of an additional four development wells, with Bauer-20 to -23, starting in early 2015. Sales gas and LPG production increased 25% to 89 kboe (net), mainly due to limited downtime at the Moomba processing facility. Condensate production decreased 30% to 9.5 kboe due to reduced gas flow from Canunda-1.