Permex Petroleum Provides Clarification on a Prior News Release issued August 8, 2022
Permex Petroleum Corporation (CSE: OIL, OTCQB: OILCF) clarified details about its equity research coverage by Nobel Capital Markets in a recent press release.
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Rhea-AI Summary
Permex Petroleum Corporation (CSE: OIL, OTCQB: OILCF) clarified details about its equity research coverage by Nobel Capital Markets in a recent press release. The Company will pay Nobel Capital $50,000 annually, with the first payment of $12,500 made in June 2022. This compensation does not include any options to purchase Company securities. Permex is focused on growth through low-cost development in the Permian Basin and the Delaware Sub-Basin. Investors are reminded to perform due diligence before making investment decisions.
Positive
- Initiation of equity research coverage by Nobel Capital Markets could enhance investor interest.
- Focus on low-cost development and sustainable growth strategies may attract potential investors.
Negative
- The ongoing requirement to pay for sponsored research may raise concerns about the Company's financial commitments.
Details
News Market Reaction – OILCF
The recorded move for OILCF in the trading session of this news was -3.74%.
Data tracked by StockTitan Argus. Session date unavailable.
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VANCOUVER, British Columbia, Aug. 15, 2022 (GLOBE NEWSWIRE) -- Permex Petroleum Corporation (CSE: OIL) (OTCQB: OILCF) (FSE: 75P) (“Permex" or the “Company”) is issuing this news release at the request of IIROC to clarify the Company’s news release dated August 8, 2022 wherein the Company announced that Nobel Capital Markets had initiated equity research coverage on the Company (the “Report”), sponsored by the Company.
The Company wishes to clarify that the Company has agreed to pay Nobel Capital Markets US
Prior to making any investment decision, readers should conduct their own due diligence and seek advice from their advisor or an investment professional. Readers should not rely on the Report or any other research report when making an investment decision.
About Permex Petroleum Corporation
Permex Petroleum is a uniquely positioned junior oil & gas company with assets and operations across the Permian Basin of West Texas and the Delaware Sub-Basin of New Mexico. 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
Mehran Ehsan
President, Chief Executive Officer & Director
(214) 459-2782
Scott Kelly
Corporate Secretary & Director
(778) 373-5421
Or for Investor Relations, please contact:
Brooks Hamilton
OILCF@mzgroup.us
FAQ
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