Welcome to our dedicated page for Permex Petroleum Corporation news (Ticker: OILCF), a resource for investors and traders seeking the latest updates and insights on Permex Petroleum Corporation stock.
Permex Petroleum Corporation (OILCF) is a junior oil & gas operator driving low-cost production in the Permian Basin while advancing strategic Blue-Sky exploration projects. This page aggregates all official news releases and verified updates about the company's operational developments, financial milestones, and regulatory progress.
Investors and industry observers will find comprehensive coverage of Permex's dual focus: maintaining steady output through its Held by Production assets while pursuing growth via targeted drilling initiatives. The curated news stream includes updates on capital management strategies, regulatory filings, and operational efficiency achievements.
Key content categories include quarterly financial disclosures, asset development announcements, compliance updates, and strategic partnership news. All materials are sourced directly from company filings and verified industry reports to ensure accuracy.
Bookmark this page for streamlined access to Permex Petroleum's latest developments in one of North America's most strategic energy regions. Check regularly for updates on how the company balances cost-effective production with long-term resource development.
Permex Petroleum Corporation (CSE: OIL, OTCQB: OILCF) will present at the Gravitas 6th Annual Growth Conference on March 2, 2023, at the Fairmont Pacific Rim Hotel, Vancouver. CEO Mehran Ehsan is set to present at 11:30 AM PST, engage with investors, and participate in a panel discussion.
The conference features industry leaders and investors from Canada, the U.S., and beyond, offering opportunities for presentations, Q&A, and individual meetings. Interested participants can visit the registration link for details.
Permex Petroleum Corporation (CSE: OIL) has announced an updated independent reserve evaluation, effective November 21, 2022. The report estimates a net present value (NPV) of future revenues from proved and probable reserves at $428 million, equating to $221.53 per share. Key findings include:
- 93% of reserves are light oil; 7% are natural gas.
- Total proved reserves increased by 51% year-over-year to 9.2 million BOE.
- Total probable reserves increased by 46% year-over-year to 17.8 million BOE.
- Total proved and probable reserves reached 27.0 million BOE, a 48% increase.
The company aims to focus on drilling and utilizing cash flow for growth.
Permex Petroleum Corporation, an independent energy company, provided a shareholder update on February 15, 2023. The company focuses on oil and natural gas properties in the U.S., emphasizing sustainable production through low-cost recompletions. They are targeting the recompletion of about 30 wells, with a successful stabilization of seven wells at 71 barrels of oil equivalent per day. Following a $7.5 million private placement, their cash reserves increased significantly, ending the fiscal year with $3.3 million. The company is optimistic about its drilling projects in Texas and New Mexico, amid recovering oil prices supported by OPEC+ production cuts.
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