Permex Petroleum Announces Resignation of President and CEO, Brad Taillon; Chairman of the Board, Richard Little, to Step in as Interim CEO

Rhea-AI Summary

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.

Positive

• Chairman Richard Little named Interim CEO and Interim CFO effective Jan 12, 2026
• Interim CEO Little has over 30 years industry experience
• Outgoing CEO Brad Taillon will remain involved to support a smooth transition

Negative

• President and CEO resignation effective Jan 12, 2026
• Interim leader assuming both CEO and CFO roles concentrates executive responsibility

Vancouver, British Columbia--(Newsfile Corp. - January 12, 2026) - Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) ("Permex" or the "Company") is announcing the resignation of its President, CEO and Interim Chief Financial Officer, Brad Taillon, effective as of January 12^th, 2026. Brad intends to remain involved with the Company to help ensure a smooth leadership transition process. The Company's Chairman, Richard Little, will replace Brad as Interim CEO and CFO as the Company continues to evaluate strategic growth opportunities.

"I am very thankful for the opportunity to lead Permex over the past couple of years. I appreciate the support of the Permex stakeholders and for Rich and the rest of the Permex Board for its support of myself and of what we are trying to accomplish here. I wish nothing but the best for Permex and will do everything I can to help the company during this time and going forward," stated Brad Taillon.

Little has over 30 years of industry experience and a deep familiarity of the Company having served on its board since October 2024. Little commented "During this transition period, we will remain focused on maximizing the value of Permex and delivering for our stakeholders. On behalf of the entire board, I want to thank Brad for all his hard work and contributions to the Company over the last two years and wish him well with his future endeavors."

About Permex Petroleum Corporation

Permex Petroleum (CSE: OIL) (FSE: 75P) is a uniquely positioned junior oil & gas company with assets and operations across the Permian Basin. The Company focuses on combining its low-cost development of Held by Production assets for sustainable growth with its current and future Blue-Sky projects for scale growth. The Company, through its wholly owned subsidiary, Permex Petroleum US Corporation, is a licensed operator in both states, and owns and operates on private, state and federal land. For more information, please visit www.permexpetroleum.com.

Contact Information

Permex Petroleum Corporation
Richard Little
Interim President & Chief Executive Officer
(713) 730-7797

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements

This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws in Canada and the United States and it is intended that this press release is to be covered by the safe harbors created by those laws. "Forward-looking information" and "forward-looking statements" each include statements that use forward-looking terminology such as "may", "will", "expect", "anticipate", "believe", "continue", "potential" or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information and forward-looking statements each include, without limitation, information regarding Mr. Taillon's future involvement with the Company. Neither forward-looking information nor forward-looking statements are a guarantee of future performance and are each based upon a number of estimates and assumptions of management at the date the statements made. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement or any forward-looking information that is included herein, except in accordance with applicable securities laws. We seek safe harbor.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/280149

FAQ

What happened to Brad Taillon at Permex (OILCF)?

Brad Taillon resigned as President, CEO and interim CFO, effective January 12, 2026, and will remain involved to assist the transition.

Who is serving as interim CEO and CFO of Permex (OILCF)?

Permex appointed Chairman Richard Little as Interim CEO and Interim CFO while the company evaluates strategic opportunities.

When did Richard Little join the Permex board (OILCF)?

Richard Little has served on the Permex board since October 2024.

Why is Permex (OILCF) naming an interim CEO?

The board named an interim CEO to maintain continuity while the company evaluates strategic growth opportunities.

Is there a timeline for a permanent CEO at Permex (OILCF)?

No specific timeline was provided; the company said it is evaluating strategic growth opportunities during the transition.