Permex Petroleum Corporation C.OIL

Alternate Symbol(s): OILCF

Energy Oil & Gas E&P

Permex Petroleum Corporation, an independent energy company, acquires, explores for, develops, and produces oil and gas properties on private, state, and federal land in the United States. Its oil and natural gas properties located within the Permian Basin region of West Texas and Southeast New Mexico that includes the Midland and Delaware Basins, as well as the Central Basin Platform. Permex Petroleum Corporation was incorporated in 2017 and is headquartered in Houston, Texas.

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Permex Petroleum Corporation

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Comment by nozzpackon May 10, 2022 2:19pm

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Post# 34671331

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 Strayberry the location is, recoverable reserves per well is in the 100,000 to 150,000 barrels which @ $100 US per barrel , recoverable oil per well will be in the $10 million to $15 million US range.

So a very high ROC per well...

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Micron is getting out of the consumer business when it is needed the most