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    OIL   CA71422P1053

PERMEX PETROLEUM CORPORATION

(OIL)
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Permex Petroleum Corporation Publishes Annual CEO Letter to Shareholders

01/30/2020 | 07:25am EDT

Vancouver, British Columbia--(Newsfile Corp. - January 30, 2020) - Permex Petroleum Corporation, (CSE: OIL) (OTCQB: OILCF) (the "Corporation") announces that it has published its Annual Letter to Shareholders from CEO, Mehran Ehsan, on the Company's website at: http://www.permexpetroleum.com/news/news/.

About Permex Petroleum Corporation - www.permexpetroleum.com

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.

CONTACT INFORMATION

Permex Petroleum Corporation
Mehran Ehsan
President, Chief Executive Officer & Director
(604) 259-2525

Scott Kelly
CFO, Corporate Secretary & Director
(604) 259-2525

Or for Investor Relations, please contact:
admin@permexpetroleum.com

CAUTIONARY DISCLAIMER STATEMENT: The Canadian Securities Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

Forward-Looking Statements
Information set forth in this news release may involve forward-looking statements under applicable securities laws. The forward-looking statements contained herein are expressly qualified in their entirety by this cautionary statement. The forward-looking statements included in this document are made as of the date of this document and the Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable securities legislation. Although Management believes that the expectations represented in such forward-looking statements are reasonable, there can be no assurance that such expectations will prove to be correct. This news release does not constitute an offer to sell or solicitation of an offer to buy any of the securities described herein and accordingly undue reliance should not be put on such. Neither CSE, OTC Markets nor their Regulation Services Providers (as that term is defined in the policies of either exchange) accepts responsibility for the adequacy or accuracy of this release
.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51937


© Newsfilecorp 2020
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Financials
Sales 2020 0,92 M 0,74 M 0,74 M
Net income 2020 -1,69 M -1,36 M -1,36 M
Net Debt 2020 0,30 M 0,24 M 0,24 M
P/E ratio 2020 -1,19x
Yield 2020 -
Capitalization 9,47 M 7,67 M 7,65 M
EV / Sales 2019 1,54x
EV / Sales 2020 2,50x
Nbr of Employees -
Free-Float 85,1%
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Managers and Directors
Mehran Ehsan Chairman, President & Chief Executive Officer
Scott Sheldon Kelly Chief Financial Officer, Secretary & Director
Barry L. Whelan Chief Operating Officer & Director
Edward A. Odishaw Independent Director
Douglas C. Urch Independent Director
Sector and Competitors