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OFFON
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  5. Permex Petroleum Corporation
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    OIL   CA71422P1053

PERMEX PETROLEUM CORPORATION

(OIL)
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Permex Petroleum Corporation entered into a non-binding Letter of Intent to acquire Rights, title, 3D seismic data and interests in oil and gas assets located in Martin County, Texas from Pratt Oil Company, LLC, Rockport Permian, LLC and Petro America Resources, LLC for $2 million.

09/13/2021 EST

Permex Petroleum Corporation (CNSX:OIL) entered into a non-binding Letter of Intent to acquire Rights, title, 3D seismic data and interests in oil and gas assets located in Martin County, Texas from Pratt Oil Company, LLC, Rockport Permian, LLC and Petro America Resources, LLC for $2 million on September 13, 2021. Permex Petroleum Corporation entered into a definitive Purchase and Sale Agreement to acquire rights, title and interest in the Mabee Breedlove Clearfork Unit, Mallard Breedlove lease, Carter Clearfork lease and Erwin Eoff lease (the "Assets") located in Martin County, Texas from from Pratt Oil Company, LLC, Rockport Permian, LLC and Petro America Resources, LLC on October 4, 2021. Consideration will be paid in stocks of Permex Petroleum Corporation. Pursuant to the acquisition, Permex will acquire 100% Working Interest with an average 81.75% net revenue interest in 7,870.23 gross acres in the Permian basin of West Texas. A full disclosure of the assets, transaction and opportunity will be announced upon execution of the definitive agreement between the parties.


© S&P Capital IQ 2021
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Financials
Sales 2020 0,92 M 0,72 M 0,72 M
Net income 2020 -1,69 M -1,33 M -1,33 M
Net Debt 2020 0,30 M 0,23 M 0,23 M
P/E ratio 2020 -1,19x
Yield 2020 -
Capitalization 13,4 M 10,5 M 10,5 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