Permex Petroleum Corporation Announces Strategic Relationship with 360 Energy to Collaborate on In-Field Computing Infrastructure to Develop Hydrocarbons and Cryptocurrency
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) ha firmato una Letter of Intent non vincolante con 360 Energy per valutare l'implementazione della tecnologia In-Field Computing (IFC) per il mining di bitcoin alimentato a gas naturale presso i siti oil & gas di Permex. La collaborazione strategica punta a valorizzare il gas naturale trasformando il gas che altrimenti verrebbe bruciato o rimarrebbe inutilizzato in elettricità per data center on-site.
La partnership potrebbe consentire a Permex di raggiungere ricavi sul gas naturale fino a 10 USD per Mcf riducendo le emissioni di metano. Il sistema IFC non richiede infrastrutture preesistenti di gas, elettricità o rete, risultando adatto a bacini marginali con accesso midstream limitato. L'azienda intende integrare la tecnologia IFC nella valutazione degli asset e nella strategia di allocazione del capitale.
Permex Petroleum (CSE: OIL) ha firmado una carta de intenciones no vinculante con 360 Energy para evaluar la implementación de la tecnología In-Field Computing (IFC) para la minería de bitcoin alimentada por gas natural en los yacimientos de petróleo y gas de Permex. La colaboración estratégica busca monetizar el gas natural convirtiendo el gas que de otro modo se quemaría o quedaría sin aprovechar en electricidad para centros de datos in situ.
La asociación podría permitir a Permex alcanzar ingresos por gas natural de hasta 10 USD por Mcf mientras reduce las emisiones de metano. El sistema IFC no requiere infraestructura existente de gas, electricidad o red, por lo que es adecuado para cuencas marginales con acceso midstream limitado. La compañía planea incorporar la tecnología IFC en la evaluación de activos y en su estrategia de asignación de capital.
Permex Petroleum (CSE: OIL)는 360 Energy와 비구속적 의향서(LOI)를 체결하고 Permex의 유전·가스 현장에서 천연가스로 구동되는 비트코인 채굴을 위한 In-Field Computing(IFC) 기술 도입을 검토합니다. 이번 전략적 협력은 소각되거나 활용되지 못하는 가스를 현장 데이터센터 전력으로 전환해 천연가스의 수익화를 바꾸는 것을 목표로 합니다.
이 파트너십을 통해 Permex는 메탄 배출을 줄이면서 Mcf당 최대 10달러까지의 천연가스 실현 가치를 달성할 수 있을 것으로 보입니다. IFC 시스템은 기존의 가스·전력·네트워크 인프라를 필요로 하지 않아 미드스트림 접근이 제한된 변두리 분지에 적합합니다. 회사는 향후 자산 평가와 자본 배분 전략에 IFC 기술을 반영할 계획입니다.
Permex Petroleum (CSE: OIL) a signé une lettre d'intention non contraignante avec 360 Energy pour étudier la mise en œuvre de la technologie In-Field Computing (IFC) pour le minage de bitcoin alimenté au gaz naturel sur les sites pétroliers et gaziers de Permex. Cette collaboration stratégique vise à transformer la valorisation du gaz naturel en convertissant le gaz qui serait autrement brûlé ou inutilisé en électricité pour des centres de données sur site.
Le partenariat pourrait permettre à Permex d'atteindre des valorisations du gaz naturel jusqu'à 10 USD par Mcf tout en réduisant les émissions de méthane. Le système IFC ne nécessite pas d'infrastructures existantes de gaz, d'électricité ou de réseau, ce qui le rend adapté aux bassins marginaux avec un accès midstream limité. La société prévoit d'intégrer la technologie IFC dans l'évaluation des actifs et la stratégie d'allocation du capital.
Permex Petroleum (CSE: OIL) hat eine unverbindliche Absichtserklärung mit 360 Energy unterzeichnet, um die Einführung der In-Field Computing (IFC)-Technologie für Bitcoin-Mining mit Erdgas an Permex' Öl- und Gasstandorten zu prüfen. Die strategische Zusammenarbeit zielt darauf ab, die Monetarisierung von Erdgas zu verändern, indem sonst abgefackeltes oder nicht nutzbares Gas in Strom für vor Ort befindliche Rechenzentren umgewandelt wird.
Die Partnerschaft könnte es Permex ermöglichen, Erlöse aus Erdgas von bis zu 10 USD pro Mcf zu erzielen und gleichzeitig die Methanemissionen zu reduzieren. Das IFC-System benötigt keine vorhandene Gas-, Strom- oder Netz-Infrastruktur und ist somit für Randbecken mit eingeschränktem Midstream-Zugang geeignet. Das Unternehmen plant, die IFC-Technologie in die Asset-Bewertung und Kapitalallokationsstrategie zu integrieren.
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Parties looking to collaborate to bring modular bitcoin mining to Permex's oil & gas operations, potentially transforming the economics of natural gas monetization
Vancouver, British Columbia--(Newsfile Corp. - August 19, 2025) - Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) ("Permex" or the "Company"), a publicly traded oil and gas exploration and production company with assets in the Permian Basin, is pleased to announce it has entered into a non-binding Letter of Intent ("LOI") with Texas-based 360 Energy, Inc. ("360 Energy"). 360 Energy is a next-generation oilfield services provider, specializing in the delivery and operations of turnkey, mobile gas offtake solutions that capture and monetize natural gas at the source.
Pursuant to the terms of the LOI, Permex will work with 360 Energy to identify possible sites for the potential deployment of 360 Energy's In-Field Computing ("IFC") technology, an off-grid bitcoin mining operation powered solely by natural gas and requires no existing gas, electric, or network infrastructure. The IFC system is designed to convert produced natural gas directly into electricity to power 360 Energy's on-site data centers, which management believes has the potential to enable Permex to realize higher returns from natural gas volumes that would otherwise be flared, stranded, or sold at likely lower prices.
"We believe that a potential partnership with 360 Energy would allow Permex to move beyond traditional monetization models and embrace transformative technology that could enhance both asset value by capturing higher realizations on natural gas, as well as environmental performance by lowering methane emissions," said Bradley Taillon, Chief Executive Officer of Permex. "We believe 360 Energy's expertise in deploying scalable, pad-based computing systems could allow Permex to extract additional value from the Company's current and future gas production while positioning Permex at the forefront of innovation in the energy sector." continued Mr. Taillon. "This potential collaboration reflects a broader strategy by Permex to integrate disruptive technologies into the Company's core operations, and to rethink how oil and gas assets are valued, developed, and monetized in a rapidly changing energy landscape."
Permex intends to incorporate IFC technology into its asset evaluation process and capital allocation strategy moving forward and the parties are working towards entering a binding definitive agreement that is expected to be based on the terms outlined in the LOI. "We believe IFC technology has the potential to transform how hydrocarbons are valued, and Permex plans to be at the forefront of that transformation leading the way for how hydrocarbons and digital assets can be co-developed," said Mr. Taillon. "We currently estimate that the deployment of IFC units could capture natural gas realizations upwards of
The LOI is non-binding to either Permex or 360 Energy and there can be no assurances that Permex will enter into a definitive binding agreement with 360 Energy in any particular time period, or at all, or on terms similar to those set forth in the LOI.
About Permex Petroleum Corporation
Permex Petroleum Corporation (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 identifying Blue-Sky projects for scale growth. The Company, through its wholly owned subsidiary, Permex Petroleum U.S. Corporation, is a licensed operator in both Texas and New Mexico, and owns and operates on private, state and federal land. For more information, please visit www.permexpetroleum.com.
About 360 Energy
360 Energy, Inc. provides next-generation solutions for natural gas offtake and monetization in the oil and gas industry. Its proprietary In-Field Computing (IFC) platform captures stranded, flared or uneconomic natural gas and converts it into reliable power for energy-dense computing, directly at the source.. Deployable anywhere, IFC helps oil and gas operators capture stranded gas, maximize oil production, and monetize molecules that would otherwise be wasted. 360 Energy is at the forefront of integrating advanced computing with traditional energy production - on a mission to help operators earn more and flare less.
Contact Information
Permex Petroleum Corporation
Brad Taillon
President & Chief Executive Officer
(713) 730-7797
Renmark Financial Communications USA Inc.
Henri Perron, CPIR:
hperron@renmarkfinancial.com
Tel.: (416) 644-2020 or (212)-812-7680
www.renmarkfinancial.com
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 legislation (collectively, "forward-looking statements"). The forward-looking statements herein are made as of the date of this press release only, and the Company does not assume any obligation to update or revise them to reflect new information, estimates or opinions, future events or results or otherwise, except as required by applicable law. Often, but not always, forward-looking statements can be identified by the use of words such as "plans", "expects", "is expected", "budgets", "scheduled", "estimates", "forecasts", "predicts", "projects", "intends", "targets", "aims", "anticipates" or "believes" or variations (including negative variations) of such words and phrases or may be identified by statements to the effect that certain actions "may", "could", "should", "would", "might" or "will" be taken, occur or be achieved. These forward-looking statements include, among other things, statements relating to: the Company's operating plans; whether the Company will enter into a binding definitive agreement with 360 Energy; the benefits of the potential collaboration with 360 Energy to Permex's operations; the continued relationship with 360 Energy; whether the collaboration with 360 Energy will result in Permex's assets capturing higher realizations on natural gas and lowering emissions.
Such forward-looking statements are based on a number of assumptions of management, including, without limitation; that the anticipated impacts of the LOI and the collaboration with 360 Energy on the Company's business shall be realized; and that Permex and 360 Energy will enter a binding definitive agreement that is based on the terms outlined in the LOI;
Additionally, forward-looking statements involve a variety of known and unknown risks, uncertainties and other factors which may cause the actual plans, intentions, activities, results, performance or achievements of the Company to be materially different from any future plans, intentions, activities, results, performance or achievements expressed or implied by such forward-looking statements. Such risks include, without limitation: that the Company's operating plans will significantly change; that the anticipated impacts of the LOI and the collaboration with 360 Energy on the Company's business shall not be realized; and that Permex and 360 Energy will enter a binding definitive agreement that is based on the terms outlined in the LOI.
The forward-looking statements contained in this press release represent management's best judgment based on information currently available. No forward-looking statement can be guaranteed and actual future results may vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking statements. Neither the Company nor any of its representatives make any representation or warranty, express or implied, as to the accuracy, sufficiency or completeness of the information in this press release. Neither the Company nor any of its representatives shall have any liability whatsoever, under contract, tort, trust or otherwise, to you or any person resulting from the use of the information in this press release by you or any of your representatives or for omissions from the information in this press release.
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