Permex Petroleum Corporation received approval on its permit application for drilling on its property in Martin County, Texas. Permex Petroleum submitted the request for multiple assignment of acreage in the Spraberry zone under Statewide Rule 40 in July 2022. The Railroad Commission of Texas reviewed and approved the request for well development rights between depths of 0 ft.

and 11,100 ft., allowing Permex to commence operations with a possibility of producing from multiple zones.