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Bullboard - Stock Discussion Forum Permex Petroleum Corp C.OIL

Alternate Symbol(s):  OILCF

Permex Petroleum Corp is a junior oil and gas company with assets and operations across the Permian Basin of West Texas and the Delaware SubBasin of New Mexico. The company through its wholly-owned subsidiary, Permex Petroleum US Corporation owns and operates on private, state, and federal land. The company has a single reportable segment i.e. acquisition, development, and production of oil and gas properties in the United States.

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New Press Release - Permex Petroleum Discusses The Future of The Oil and Gas Industry with The Stock Day Podcast

Phoenix, Arizona--(Newsfile Corp. - June 23, 2022) - The Stock Day Podcast welcomed Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) ("the Company"), a uniquely positioned junior oil & gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin...read article.

RE:RE:West Texas Internediate hits $145 CAD per Barrel

Oil  Stocks were up again today. Good progress towards a senior US listing. Onwards and upwards..  rate and reply

New Press Release - Permex Petroleum Reports Second Quarter Fiscal Year 2022 Financial Results

VANCOUVER, British Columbia, May 31, 2022 (GLOBE NEWSWIRE) -- Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) (FSE: 75P) ("Permex" or the "Company"), a uniquely-positioned junior oil and gas company, is pleased to report financial results for the three and six-months ended March 31, 2022...read article.

RE:West Texas Internediate hits $145 CAD per Barrel

Management continued its optimization, stimulation and rework of its shut-in wells located in both Texas and New Mexico. Currently the Henshaw Premier Unit and Oxy Yates properties are being...read more

West Texas Internediate hits $145 CAD per Barrel

West Texas Intermediate crude for July delivery added 98 cents to $115.07 on the New York Merc, while Brent for July added $2.03 to $119.43 (all figures in this para U.S.). Western Canadian Select...read more

Just need Volume

The story line is very easy to tell and outcome metrics are obvious. US listing is coming so volume will pick up very quickly..  rate and reply

Peer Cash flow Based Valuation

Based on permutations of  exit 2022 oil production @$100 US oil = $125 in CAD , 55 % of gross cash flow margin and 7.5 times annualized cash flow.. Annualized Production      ...read more

2P Reserves of 24.3 million barrels..NPV $295 million

2021 RESERVES SUMMARY SUMMARY OF PROVED, PROBABLE (2P) RESERVES (As of September 2021) $ Amounts in USD   OIL (BBL) GAS (MCF) FUTURE NET ...read more

Oil at $140 CAD

Let's get those workovers and drills goin..  rate and reply

RE:RE:Problem with Drill Permit.

They are in the process of obtaining a Rule 37/38 towards the Permit, which would then be approved and move forward with drilling. So, no problem..  rate and reply

RE:Problem with Drill Permit.

Depth severance/ double assignment  is not a uncommon problem and modifications have been made to the regulations . This link will provide a detailed understanding .. https://oilandgaslawdigest...read more

Problem with Drill Permit.

probably nothing, but this stands out to me: Your filing has been identified with possible SWR 40 double assignment of acreage problems. Please review your filing. If you have any questions concerning...read more

News,.Upgrading the BOD for US Senior listing

  Permex Petroleum appoints Montgomery as CFO, secretary   2022-05-10 16:08 ET - News Release   Mr. Mehran Ehsan reports PERMEX PETROLEUM APPOINTS GREG MONTGOMERY AS CHIEF...read more

RE:RE:RE:RE:11000' drilling permit!

Yes, at that depth depending on where in the Strayberry Trend the well is drilled, IP will vary from 75 bod to 150 bpd, so 100 bpd seems a reasonable estimated. Again, depending on where in the...read more

RE:RE:RE:11000' drilling permit!

yeah, this is amazing. the fact that this is traded on CSX/OTC is the only reason it's cheap right now. that's the opportunity. I'm trying to discover what to expect from a conventional...read more

RE:RE:11000' drilling permit!

Thank you  That is huge informartion The Sprayberry is located in the southern Midland Basin and is a major oil-producing formation, accounting for more than 700 million barrels of oil as...read more

RE:11000' drilling permit!

https://webapps.rrc.texas.gov/dpimages/img/6200000-6299999//PR0006282116_0001.pdf  rate and reply

11000' drilling permit!

https://webapps2.rrc.state.tx.us/EWA/drillingPermitDetailAction.do?methodToCall=searchByUniversalDocNo&universalDocNo=495071397&rrcActionMan=H4sIAAAAAAAAAL1RS2vDMAz...read more

RE:comparable to Houston American

Thank you. I have been looking for proxies on the NYSE but found none. Husa is an excellent proxy which shows the tremendous upside here. I think we have an excellent investment here..  rate and reply

comparable to Houston American

best comparable as far as company size, where it operates, etc. I think is Houston American Energy, HUSA: both primarily operate in the Permian. Husa has 4 wells producing ~10 bopd. Permex will have...read more