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Permex Petroleum Corp C.OIL

Alternate Symbol(s):  OILCF

Permex Petroleum Corporation is a junior oil and gas company. The Company is engaged in the acquisition, exploration, development and production of oil and gas properties in the United States. It has assets and operations in the Permian Basin which includes the Midland Basin and Delaware Basin. The Breedlove B Clearfork properties are situated in Martin County, Texas. The Pittcock Leases are situated in Stonewall County in Northwest Texas, located in the central part of the North Central Plains and consists of the Pittcock North property, the Pittcock South property and the Windy Jones Property. The Mary Bullard Property is located in Stonewall County. The West Henshaw Property is located in Eddy County, New Mexico, 12 miles northeast of Loco Hills in the Delaware basin. The Oxy Yates Property is located in Eddy County. It holds royalty interests in 73 producing oil and gas wells and five permitted wells across 3,800 acres within the Permian Basin of Texas and southeast New Mexico.


CSE:OIL - Post by User

Comment by Bigshortieon Oct 27, 2022 7:47pm
234 Views
Post# 35054706

RE:RE:RE:RE:RE:RE:RE:Drilling started

RE:RE:RE:RE:RE:RE:RE:Drilling startedthat's what they're using to drill the two wells. They will issue more shares at that point too, I believe there's warrants just for that reason around the $0.20 - $0.25 mark. Once the ball is rolling cashflow from operations will fund the rest. It will be a bumpy ride but in a few years time Permex will be 10-20k bopd. look at two directors, JP Bryan and Lendrum. Bryan was CEO of Gulf Canada and Lendrum was or is at Nuevo midstream. Both are billionaires and heavily invested. Then look at the lady they appointed yesterday, holds a very senior position at o&g company valued at $6 billion. production engineer. Nuevo midstream literally borders the spot they are drilling. most infrastructure already in place. low cost and access to market. you're right that the challenge initially is raising cash, hopefully positive news about these wells sends the stock way up. should be soon. I have a bunch more info and was thinking of writing up a thesis so let me know if you're interested.
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