Welcome to our dedicated page for Permex Petroleum news (Ticker: OILCF), a resource for investors and traders seeking the latest updates and insights on Permex Petroleum stock.
Permex Petroleum Corp. reports developments as a junior oil and gas exploration and production company with assets and operations across the Permian Basin, including West Texas and the Delaware Sub-Basin of New Mexico. Through Permex Petroleum US Corporation, the company is a licensed operator in Texas and New Mexico and owns and operates on private, state and federal land.
Recurring company updates cover development of Held by Production assets, Blue-Sky project activity, capital formation through convertible debentures and warrants, debenture obligations, financial-reporting status, leadership changes and responses to securities-market inquiries.
Permex Petroleum (OTC: OILCF) disclosed it received a Notice of Default from holders of secured convertible debentures issued November 1, 2024, with aggregate principal of $4,276,389 and 10% annual interest.
The company missed filing audited annual financial statements for year ended September 30, 2025, by the regulatory deadline of January 28, 2026. Debenture holders demand immediate payment and gave a deadline of February 18, 2026 for payment or alternative assurances before seeking enforcement, which may include repossession of collateral.
Permex Petroleum (OTC:OILCF) announced that President, CEO and interim CFO Brad Taillon resigned effective January 12, 2026. The company said Taillon intends to remain involved to help ensure a smooth leadership transition. The board appointed Chairman Richard Little as interim CEO and interim CFO while Permex evaluates strategic growth opportunities. Little has over 30 years of industry experience and has served on the board since October 2024. Management emphasized continuity and a focus on maximizing stakeholder value during the transition.
Permex Petroleum (CSE: OIL) has entered into a non-binding MOU with Chisos Ltd. for potential funding of up to $25 million USD in development capital. The agreement would allow Chisos to acquire up to 50% non-operating working interest in specific wells and leasehold operated by Permex.
The initial tranche targets $10 million to fund drilling of 8 vertical wells on Permex's Breedlove asset in the Permian Basin. The financing requires Permex to match funds dollar for dollar and is subject to definitive documentation. Notably, Chisos is owned by James Perry Bryan, a former Permex Director who currently holds approximately 12.75% of Permex shares on a partially diluted basis.
Permex Petroleum (CSE: OIL) has secured a 6-month option agreement to potentially acquire significant energy-producing assets for $3 million from Navidad Petroleum and TMR Exploration. The acquisition target includes over 50 producing wells, gathering facilities, and 20,000 net mineral acres of undeveloped leasehold interests.
The option, obtained for $75,000, requires a minimum cash payment of $1.75 million if exercised. The assets currently generate ~4 MW of power and align with Permex's strategy to co-develop hydrocarbon and Bitcoin mining operations. The company plans to collaborate with Bitcoin mining partner 360 Energy for potential mining deployment across current and future assets.
Permex Petroleum (CSE: OIL) has signed a non-binding Letter of Intent with 360 Energy to explore implementing In-Field Computing (IFC) technology for bitcoin mining operations powered by natural gas at Permex's oil and gas sites. The strategic collaboration aims to transform natural gas monetization by converting otherwise flared or stranded gas into electricity for on-site data centers.
The partnership could potentially enable Permex to achieve natural gas realizations of up to $10 per Mcf while reducing methane emissions. The IFC system requires no existing gas, electric, or network infrastructure, making it suitable for fringe basins with limited midstream access. The company plans to incorporate IFC technology into its asset evaluation and capital allocation strategy moving forward.
Permex Petroleum (CSE: OIL) has successfully closed a US$2,000,000 private placement of convertible debenture units. The offering consisted of 2,000 units sold to a single arm's length subscriber, Kent Lindemuth, with each unit comprising a US$1,000 convertible debenture and 393 common share purchase warrants.
The debentures feature a one-year maturity with a 10% simple interest rate and are convertible at US$2.54 per share. The warrants are exercisable for five years at the same price. Automatic conversion will trigger if the company completes a financing of at least US$7.5 million. Following this placement, Lindemuth's ownership represents 81.71% of shares on a partially-diluted basis.
Permex Petroleum (CSE: OIL) has announced a US$2,000,000 private placement of convertible debenture units to a single arm's length subscriber. Each unit consists of a US$1,000 convertible debenture and 393 warrants.
The debentures will mature in one year and carry a 10% simple interest rate, payable at maturity. The conversion price and warrant exercise price are set at US$2.54. The debentures will automatically convert if the company completes a financing of at least US$7.5 million. The proceeds will be used for general working capital purposes.
Permex Petroleum Corporation (CSE: OIL) has issued a statement in response to a request from the Canadian Investment Regulatory Organization (CIRO) regarding recent unusual market activity. The company confirms that management is unaware of any material changes in operations that would explain the recent increase in share price and trading volume.
The company states it continues to execute its previously announced business plans and will provide updates on any material developments as required by securities regulations.
Permex Petroleum Corporation (CSE: OIL) has successfully implemented its operating arrangement with a private oil and gas operator in the Permian Basin, initially announced on January 13th, 2025. The company reports that production has commenced on all wells under the arrangement, with initial production results meeting management's expectations.
The arrangement is expected to benefit shareholders as Permex will earn fees in a service provider capacity. The production base consists primarily of natural gas assets, whose performance is dependent on favorable gas prices. Additionally, the company announced the resignation of Gregory Montgomery as CFO and Corporate Secretary, effective May 2nd, 2025. Bradley Taillon, current President and CEO, will serve as Interim CFO and Corporate Secretary until a permanent replacement is appointed.
Permex Petroleum (CSE: OIL) (FSE: 75P) has secured an operating arrangement with a private oil and gas operator in the Permian Basin. Under the agreement, Permex gains operating rights over 19 wells in exchange for a monthly operating fee of up to $75,000 USD, with the actual amount varying based on production volumes and commodity prices.
The arrangement allows Permex to leverage its existing operations team to generate an immediate new revenue stream through field operations management for an offset operator. Company executives express optimism about the deal's potential impact on the company's bottom line.