Permex Petroleum Corporation
Other OTCCapital Structure
•
in mil. unless spec.Working Capital
•
in mil. unless spec.Growth Rates
•
in mil. unless spec.Quarterly Revenue
•
in mil. unless spec.Quarterly Earnings Per Share
•
in mil. unless spec.Quarterly Dividends Per Share
•
in mil. unless spec.- CEO
- Mehran Ehsan
- Full Time Employees
- 2
- Sector
- Energy
- Industry
- Oil & Gas Exploration & Production
- Address
- Park Place Vancouver BC Canada V6C 2X8
- IPO Date
- Sep 20, 2018
- Website
- permexpetroleum.com
- Similar Companies
- Business
- Permex Petroleum Corporation (CSE: OIL; OTCQB: OILCF), a junior independent energy company, acquires, explores for, develops, and produces oil and natural gas properties on private, state, and federal lands primarily within the Permian Basin of West Texas and the Delaware Sub-Basin of Southeast New Mexico, encompassing the Midland Basin, Delaware Basin, and Central Basin Platform; the company focuses on low-cost development of held-by-production assets for sustainable cash flow through recompletions, re-entries, secondary recovery, and lower-risk infill drilling, alongside blue-sky exploration projects for scale growth, including over 60 drilling locations across its acreage and royalty interests from 73 producing wells that cover corporate operating costs. Through its wholly owned subsidiary Permex Petroleum US Corporation, a licensed operator in Texas and New Mexico, Permex owns and manages producing wells, gathering facilities, and undeveloped leasehold interests exceeding 11,000 acres net mineral acres in strategic formations suited for hydrocarbon production and emerging bitcoin mining powered by associated natural gas; target customers include energy sector partners seeking non-operated interests and field operations management services. Incorporated in 2017 and headquartered at 1700 Post Oak Boulevard, Suite 600, Houston, Texas, the company operates across the United States with a strategic emphasis on Permian Basin assets generating revenue from oil, natural gas, and innovative gas monetization strategies. Recent developments include a non-binding memorandum of understanding with Chisos Ltd. in September 2025 for up to US$25 million in development capital, requiring dollar-for-dollar matching funds to drill eight vertical wells on the Breedlove asset with Chisos acquiring up to 50% non-operating working interest; a six-month option agreement secured for US$75,000 to acquire over 50 producing wells, gathering facilities, and 20,000 net mineral acres from Navidad Petroleum and TMR Exploration for US$3 million to support bitcoin mining integration; a non-binding letter of intent with 360 Energy for in-field computing bitcoin mining using flared or stranded natural gas, potentially achieving US$10 per Mcf realizations; closure of a US$2 million convertible debenture private placement in 2025 bearing 10% interest with warrants; board appointments of Richard Little as Non-Executive Chairman and BaShara Crystelle Boyd as director; an operating arrangement managing 19 Permian Basin wells for monthly fees up to US$75,000; and approximately US$4.2 million in capital raised since April 2024 alongside resumption of Breedlove production and regulatory compliance restoration.
Permex Petroleum Announces Receipt of Notice of Default from Debentureholders and Failure to File Annual Audited Financial Statements
Permex Petroleum Announces Resignation of President and CEO, Brad Taillon; Chairman of the Board, Richard Little, to Step in as Interim CEO
Permex Petroleum Corporation Announces Entry into Option Agreement for Right to Acquire Energy Producing Assets in Connection with Bitcoin Mining Strategy
Permex Petroleum Corporation Announces Strategic Relationship with 360 Energy to Collaborate on In-Field Computing Infrastructure to Develop Hydrocarbons and Cryptocurrency
Permex Petroleum Announces Closing of US$2,000,000 Private Placement of Convertible Debentures
Permex Petroleum Announces US$2,000,000 Private Placement of Convertible Debentures
Permex Petroleum Provides Corporate Update
Permex Petroleum Announces Repayment of Outstanding Debentures and Closing of Private Placement
Permex Petroleum Announces Repricing of Previously Announced Private Placement
Permex Petroleum Announces Shares to Resume Trading on the Canadian Securities Exchange, Termination of Previously Announced Private Placement and Proposed New Private Placement