Reported Earnings • Aug 14
Third quarter 2025 earnings released: US$1.74 loss per share (vs US$2.45 loss in 3Q 2024) Third quarter 2025 results: US$1.74 loss per share (improved from US$2.45 loss in 3Q 2024). Net loss: US$961.2k (loss narrowed 29% from 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has fallen by 43% per year, which means it is performing significantly worse than earnings. Reported Earnings • May 16
Second quarter 2025 earnings released: US$2.38 loss per share (vs US$0.75 loss in 2Q 2024) Second quarter 2025 results: US$2.38 loss per share (further deteriorated from US$0.75 loss in 2Q 2024). Net loss: US$1.31m (loss widened 216% from 2Q 2024). Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has fallen by 60% per year, which means it is performing significantly worse than earnings. Board Change • Mar 30
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. President, CEO & Director Brad Taillon is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Jan 16
Permex Petroleum Corporation Auditor Raises 'Going Concern' Doubt Permex Petroleum Corporation filed its 10-K on Jan 14, 2025 for the period ending Sep 30, 2024. In this report its auditor, Marcum LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern. Announcement • Jan 01
Permex Petroleum Corporation Announces Board Appointments Permex Petroleum Corporation announced that the Company's Board of Directors (the 'Board') has approved the appointment of BaShara (Bo) Crystelle Boyd to serve on the Board effective December 23rd, 2024. In addition, the Company has confirmed Richard Little as Non-Executive Chairman of the Board. Mr. Little is the current CEO of private operator, Fury Resources. Before Fury Resources, Mr. Little was the CEO of public operator Battalion Oil Company. He possesses more than a quarter century of industry experience, and has led successful ventures, including a $1.24 billion asset sale at Ajax Resources, LLC. His career journey spans roles such as VP of EP Energy's Southern Division and leadership positions at El Paso Exploration and Production. Mr. Little holds a Petroleum Engineering degree from Texas AM, is a licensed engineer (inactive), and is engaged with industry organizations like SPE, API, and IPAA. Ms. Boyd is a partner at Walker Eisenbraun, LLC., a corporate law firm located in Houston, Texas. Her practice covers an array of complex corporate, transactional, and governance matters, predominantly for clients in the energy sector. Ms. Boyd brings to the Board over twenty-five years of legal experience, having also worked as a corporate and securities lawyer at a national law firm, and as general counsel, senior vice president, and corporate secretary of the then largest publicly traded, independent oil and gas producer in the Gulf of Mexico, where she had sole responsibility for managing all of the company's legal affairs. Announcement • Dec 31
Permex Petroleum Corporation announced delayed annual 10-K filing On 12/30/2024, Permex Petroleum Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Board Change • Dec 27
High number of new and inexperienced directors There are 3 new directors who have joined the board in the last 3 years. The company's board is composed of: 3 new directors. No experienced directors. No highly experienced directors. President, CEO & Director Brad Taillon is the most experienced director on the board, commencing their role in 2024. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Announcement • Sep 27
Permex Petroleum Corporation announced delayed 10-Q filing On 09/26/2024, Permex Petroleum Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Sep 09
Permex Petroleum Corporation, Annual General Meeting, Nov 04, 2024 Permex Petroleum Corporation, Annual General Meeting, Nov 04, 2024. Announcement • Aug 16
Permex Petroleum Corporation announced delayed 10-Q filing On 08/15/2024, Permex Petroleum Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Apr 17
Permex Petroleum Corporation announced that it has received $0.5 million in funding On April 16, 2024, Permex Petroleum Corporation, closed the transaction. The company issued 500 units at a price of $1,000 per unit for the gross proceeds of $500,000 in the transaction. Each Unit will consist of one convertible debenture in the principal amount of $1,000 and one common share purchase warrant. All securities issued in the Offering are subject to resale restrictions imposed by applicable laws or regulation, including a statutory hold period expiring four months and one day from the date of closing of the offering. Announcement • Feb 29
Permex Petroleum Corporation announced that it expects to receive $20 million in funding Permex Petroleum Corporation announced a private placement of convertible debenture units for gross proceeds of up to $20,000,000 on February 28, 2024. Each Unit will consist of one convertible debenture in the principal amount of $1,000 and one common share purchase warrant. Each Warrant will be exercisable for a period of 24 months from the date of issuance for one common share of the company at an exercise price equal to 120% of the market price of the shares on the Canadian Securities Exchange at the time of issuance of the Units. The Debentures will mature on the earlier of one-year from the date of issuance or three-months from the date of issuance if the company does not enter into a securities exchange, unit purchase or merger agreement with a third party to the reasonable satisfaction of a majority of the holders of Debentures. The Debentures will bear simple interest at a rate of 10%, payable on the Maturity Date or the date on which all or any portion of the Debenture is repaid. Interest will be paid in cash or shares based on a conversion price of $3.41, subject to Exchange approval. At any time during the term, a holder of Debentures may elect to convert the outstanding principal and any accrued and unpaid interest thereon into shares at the conversion price. All securities issued pursuant to the Offering and underlying securities will be subject to a four-month hold period from the date of issuance pursuant to applicable Canadian securities laws, in addition to such other restrictions as may apply under applicable securities laws of jurisdictions outside of Canada. The units being offered in the Offering will be offered only to persons who either qualify as an accredited investor as defined in Rule 501(a) of Regulation D under the United States Securities Act of 1933, as amended. Announcement • Sep 15
Permex Petroleum Corp Announces Resignation of Scott Kelly as Director Permex Petroleum Corp. announced resignation of Scott Kelly as Director. Announcement • Aug 17
Permex Petroleum Corporation announced delayed 10-Q filing On 08/15/2023, Permex Petroleum Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Jul 18
Permex Petroleum Corporation announced that it has received $0.754013 million in funding On July 17, 2023, Permex Petroleum Corporation closed the transaction. The transaction included participation from 11 investors. Announcement • May 16
Permex Petroleum Corporation announced delayed 10-Q filing On 05/15/2023, Permex Petroleum Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Feb 18
Permex Petroleum Corporation, Annual General Meeting, Apr 24, 2023 Permex Petroleum Corporation, Annual General Meeting, Apr 24, 2023. Announcement • Feb 15
Permex Petroleum Corporation announced delayed 10-Q filing On 02/14/2023, Permex Petroleum Corporation announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Announcement • Dec 30
Permex Petroleum Corporation announced delayed annual 10-K filing On 12/29/2022, Permex Petroleum Corporation announced that they will be unable to file their next 10-K by the deadline required by the SEC. Breakeven Date Change • Nov 16
Forecast to breakeven in 2023 The 2 analysts covering Permex Petroleum expect the company to break even for the first time. New consensus forecast suggests the company will make a profit of US$869.9k in 2023. Average annual earnings growth of 170% is required to achieve expected profit on schedule. Announcement • Nov 03
Permex Petroleum Corporation Completes Drilling Phase of its First Breedlove Oilfield Well Permex Petroleum Corporation announced an update to its previous news release with respect to the drilling of the Eoff PPC #3 well on its Breedlove Oilfield located in Martin County, Texas. On September 28, 2022, Permex announced that drilling had commenced and that the well spudded on September 14, 2022. It is the first well drilled by Permex on the 7,780 gross acre Breedlove Oilfield. October 4, 2022, marked the final day of drilling of the Eoff PPC #3 well. The target depth of 8,100 ft (2468 meters) was achieved, and the casing was run to total depth. The electric wireline logging sequence of the wellbore was completed, and the results are positive and well-received by the Company. All indications from the drilling show to be favorable as multiple zones have been found which allows the Company to proceed with the next steps of perforation and completion. During the Eoff PPC #3 well’s operations, the Company successfully implemented environmentally safe practices. The fluids used are water-based and biodegradable mud. This method is environmentally safe, while also providing samples that are used to locate potential places for future drilling. The pits are lined to ensure no leakage into the surrounding ground. Currently, the well is positioned vertically but set up for a horizontal well should the Company decide to pursue. The Company believes that the results reveal a future of growth and development for Permex. Should the results from this drilling continue to be beneficial, the Company expects to replicate them across the 7,780 gross acres of the Breedlove Field. In addition, Permex plans to further expand into the Eoff PPC #3 well’s 40-acre spacing available to create additional drilling programs. Such additional wells are already permitted and expected to begin drilling operations in the near future. Since the beginning of 2022, the Company successfully recompleted five oil and gas wells, which came online at a combined initial production rate of 50 barrels of oil equivalent per day (BOEPD) and have stabilized at a rate of 35 BOEPD, increasing the Company’s total production to 71 BOEPD. The Company has access to an additional 62 shut-in oil, gas and saltwater disposal wells that the Company intends to also be brought online. Management believes that many of these wells have the potential to yield similar results, thereby increasing the Company’s total daily production solely by re-entering shut-in wells. Further updates will be available as stages continue and as the Company moves forward to the completion and production phases of the Eoff PPC #3 well. Announcement • Oct 27
Permex Petroleum Announces Appointment of Melissa Folz P.E. to Board of Directors Permex Petroleum Corporation announced the appointment of an additional member to the Company’s Board of Directors. Permex Petroleum is welcoming Melissa Folz P.E. as the newest member of their Board of Directors effective October 24, 2022. Melissa joins Permex with an extensive background from the oil and gas industry. Melissa currently serves as the Production Engineering and Optimization Director for Chord Energy, which was recently created as a merger between Oasis Petroleum and Whiting Petroleum. Prior to the merger, she was the Senior Production Manager of Oasis Petroleum. Melissa has served other positions in the past as Senior Production Engineer for Sabine Oil and Gas and Completions Engineer for Southwestern Energy Company. She is a licensed professional engineer in the state of Texas and holds a Bachelor of Science degree in Petroleum Engineering from Louisiana State University. Announcement • Sep 29
Permex Petroleum Commences Its Drilling Operations Permex Petroleum Corporation announced that the Company has started drilling on its Breedlove Field Prospect located in Martin County, Texas. The PPC Eoff #3 well, operated by Permex Petroleum, is the first well to be drilled on the 7,780 gross acre Breedlove oil field. Two initial wells have been permitted and are expected to be drilled and completed on the property in the short term. Drilling of the first well commenced on Wednesday, September 14, 2022, with a possible lateral conversion to follow upon successful mud logging and various zone tests. The drilling and completion of the vertical well will take approximately 60 days and for the horizontal well 90 days. Announcement • Aug 31
Permex Petroleum Reports Successful Recompletion of Wells on its New Mexico and Texas Properties Permex Petroleum Corporation announced results obtained from five recently recompleted oil and gas wells located in Eddy County, New Mexico and Martin County, Texas. In August, Permex continued its re-entry and stimulation program on its Henshaw Premier Unit and Oxy Yates propertiessituated in Eddy County New Mexico. The re-entry and stimulations involved targeting the Grayburg formation in the Henshaw well numbers 107, 2L, 3B, while targeting the Yates formation in Oxy yates 14-3 well. The Company also recompleted the Mabee Breedlove Clearfork Unit #12 ("MBCU") on its Breedlove field within the Clearfork formation located in Martin County. The recompletions were successful and came online at a combined initial production rate of 50 barrels of oil equivalent per day ("BOEPD") and have stabilized at a rate of 35 barrels of oil equivalent per day, increasing the Company's total production to 71 barrels of oil equivalent per day ("BOEPD"). The Company has an additional 62 shut-in oil, gas and salt water disposal wells remaining to be brought online. Management believes these wells will have the potential to yield similar results, increasing the Company's total daily production solely by re-entering shut-in wells. In addition to the re-entry and stimulation of the wells, management has started its extensive Enhanced Oil Recovery ("EOR")study on the Clearfork formation for its Martin County asset. This includes review of all injection wells, downhole pressure andcommunication between injectors and receiving wells. Management expects to have the study published within 30 days andincorporate the findings for enhanced oil recovery. Reported Earnings • Aug 30
Third quarter 2022 earnings released Third quarter 2022 results: Net loss: US$761.3k (loss widened 392% from 3Q 2021). Over the next year, revenue is forecast to grow 1,218%, compared to a 74% growth forecast for the Oil and Gas industry in Canada. Announcement • Aug 17
Permex Petroleum Corporation Receives Drilling Permit Approval for Its Texas Property Permex Petroleum Corporation received approval on its permit application for drilling on its property in Martin County, Texas. Permex Petroleum submitted the request for multiple assignment of acreage in the Spraberry zone under Statewide Rule 40 in July 2022. The Railroad Commission of Texas reviewed and approved the request for well development rights between depths of 0 ft. and 11,100 ft., allowing Permex to commence operations with a possibility of producing from multiple zones. Reported Earnings • Jun 02
Second quarter 2022 earnings released Second quarter 2022 results: Net loss: CA$189.4k (loss narrowed 25% from 2Q 2021). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 18% per year, which means it is well ahead of earnings. Board Change • May 13
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Jay Lendrum was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 06
Permex Petroleum Corporation Reports Successful Production from Second Recompleted Well on New Mexico Property Permex Petroleum Corporation announced the successful results obtained from the recompletion of a previously shut-in oil well on its West Henshaw property in Eddy County, New Mexico.The results are from well #6-10 on the West Henshaw property, which is one of the 69 shut-in wells Permex currently owns, and represent the second successful well recompletion by the Company this year. The Company's re-entry and re-stimulation programs involving Company's the wells on the West Henshaw property began in January 2022, and are targeting the Grayburg formation at a depth of 2,850 feet. The recompletion of well #6-10 was successful and came online at an initial rate of 15 barrels of oil per day and now has stabilized at 10 barrels of oil per day. Management believes the production rates from this mature, long-life well, will continue with less than 5% decline year on year. The remaining 67 shut-in wells that the Company plans to re-enter may have potential to yield similar results increasing the Company's total daily production solely by re-entering shut-in wells. Announcement • Mar 29
Permex Petroleum Corporation announced that it has received $7.54058 million in funding Permex Petroleum Corporation announced a brokered private placement of 47,128,625 units at a price of $0.16 per unit for gross proceeds of $7.54058 million on March 28, 2022. Each unit consists of one common share and one common share purchase warrant. Each warrant entitles the holder thereof to acquire one common share at an exercise price of $0.21 per share for a period of five years. The securities issued in the transaction are subject to hold period of four months and one day from the date of closing of the transaction. Reported Earnings • Mar 04
First quarter 2022 earnings: Revenues and EPS in line with analyst expectations First quarter 2022 results: CA$0.02 loss per share (down from CA$0.004 loss in 1Q 2021). Net loss: CA$1.04m (loss widened CA$872.7k from 1Q 2021). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Announcement • Feb 01
Permex Petroleum Corporation, Annual General Meeting, Apr 08, 2022 Permex Petroleum Corporation, Annual General Meeting, Apr 08, 2022. Reported Earnings • Jan 30
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: CA$0.04 loss per share (up from CA$0.042 loss in FY 2020). Net loss: CA$1.59m (loss narrowed 6.0% from FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 2% per year, which means it is significantly lagging earnings growth. Board Change • Oct 14
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Greg Montgomery was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Sep 14
Permex Petroleum Corporation (CNSX:OIL) entered into a non-binding Letter of Intent to acquire Rights, title, 3D seismic data and interests in oil and gas assets located in Martin County, Texas for $2 million. Permex Petroleum Corporation (CNSX:OIL) entered into a non-binding Letter of Intent to acquire Rights, title, 3D seismic data and interests in oil and gas assets located in Martin County, Texas for $2 million on September 13, 2021. Consideration will be paid in stocks of Permex Petroleum Corporation. Pursuant to the acquisition, Permex will acquire 100% Working Interest with an average 81.75% net revenue interest in 7,870.23 gross acres in the Permian basin of West Texas. A full disclosure of the assets, transaction and opportunity will be announced upon execution of the definitive agreement between the parties. Reported Earnings • Sep 02
Third quarter 2021 earnings released: CA$0.01 loss per share (vs CA$0.004 loss in 3Q 2020) Third quarter 2021 results: Net loss: CA$191.9k (loss widened 7.7% from 3Q 2020). Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 39% per year, which means it is significantly lagging earnings. Reported Earnings • Mar 04
First quarter 2021 earnings released The company reported a poor first quarter result with weaker earnings, revenues and control over costs. First quarter 2021 results: Revenue: CA$4.0k (down 99% from 1Q 2020). Net loss: CA$147.8k (down CA$151.9k from profit in 1Q 2020). Reported Earnings • Jan 31
Full year 2020 earnings released: CA$0.04 loss per share (vs CA$0.024 loss in FY 2019) The company reported a poor full year result with increased losses, weaker revenues and weaker control over costs. Full year 2020 results: Revenue: CA$917.7k (down 43% from FY 2019). Net loss: CA$1.69m (loss widened 91% from FY 2019). Announcement • Dec 23
An unknown buyer completed the acquisition of Central Basin Property from Permex Petroleum Corporation (CNSX:OIL). An unknown buyer entered into an agreement to acquire Central Basin Property from Permex Petroleum Corporation (CNSX:OIL) for $1.3 million on December 10, 2020. The consideration is paid in cash, prior to customary closing adjustments. The transaction is expected to close on December 18, 2020.
An unknown buyer completed the acquisition of Central Basin Property from Permex Petroleum Corporation (CNSX:OIL) on December 22, 2020. Permex will utilize the funds to strengthen its balance sheet, pay down its accounts payable while bringing its remaining properties back online since oil prices have shown stability. Announcement • Dec 12
An unknown buyer entered into an agreement to acquire Central Basin Property from Permex Petroleum Corporation (CNSX:OIL) for $1.3 million. An unknown buyer entered into an agreement to acquire Central Basin Property from Permex Petroleum Corporation (CNSX:OIL) for $1.3 million on December 10, 2020. The consideration is paid in cash, prior to customary closing adjustments. The transaction is expected to close on December 18, 2020. Announcement • Nov 14
Permex Petroleum Corporation, Annual General Meeting, Apr 09, 2021 Permex Petroleum Corporation, Annual General Meeting, Apr 09, 2021.