OILCF Permex Petroleum Corporation (PK)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of earliest event reported): January 13, 2025

 

Permex Petroleum Corporation

(Exact name of registrant as specified in its charter)

 

British Columbia, Canada		001-41558		98-1384682
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

1700 Post Oak Blvd, 2 Blvd Place, Suite 600 Houston, Texas		77056
(Address of principal executive offices)		(Zip Code)

 

(346) 245-8981

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act: None

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 8.01 Other Events.

 

On January 13, 2025, Permex Petroleum Corporation (the “Company”) announced that the Company had entered into an arrangement with a private oil and gas operator concerning assets owned by such operator in the Permian Basin, which granted the Company operating rights over 19 wells in the Permian Basin in exchange for a monthly operating fee of up to $75,000 per month based on production volumes and commodity prices.

 

The Company issued a press release announcing the operating arrangement. A copy of such press release is attached hereto as Exhibit 99.1.

 

Item 9.01. Financial Statements and Exhibits

 

(d)

Exhibits.

 

Exhibit No.		Description
99.1		Press release dated January 13, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	Permex Petroleum Corporation
January 16, 2025	By:	/s/ Bradley Taillon
		Bradley Taillon
		Chief Executive Officer

 

 

 

Exhibit 99.1

 

 

PERMEX ENTERS OPERATING ARRANGEMENT WITH PRIVATE PERMIAN BASIN OPERATOR

 

Vancouver, British Columbia – January 13, 2025 – Permex Petroleum Corporation (CSE: OIL) (FSE: 75P) (“Permex” or the “Company”) is pleased to announce that the Company has entered into an arrangement with a private oil and gas operator concerning assets owned by such operator in the Permian Basin. This arrangement grants Permex operating rights over 19 wells in the Permian Basin in exchange for a monthly operating fee of up to $75,000 USD per month based on production volumes and commodity prices.

 

“Permex is very excited to enter into this arrangement,” said Brad Taillon, Permex’s President and Chief Executive Officer. Taillon went on to say, “I am excited that we have the opportunity to leverage our existing experienced operations team to create an immediate new revenue stream for the Company by taking over field operations for an offset operator.

 

Richard Little, Permex’s Chairman stated, “We are pleased with the arrangement that we have been able to negotiate allowing for a new source of income for the Company that should be impactful to the bottom line.

 

About Permex Petroleum Corporation

 

Permex Petroleum (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 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 Texas and New Mexico, and owns and operates on private, state and federal land. For more information, please visit www.permexpetroleum.com.

 

Contact Information

 

Permex Petroleum Corporation

Brad Taillon

President & Chief Executive Officer

(346) 245-8981

 

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 both “forward-looking statements” and “forward-looking information” within the meaning of applicable securities laws in both the United States and Canada that is intended to be covered by the safe harbours created by those laws. “Forward-looking information” and “forward-looking statements” each include statements that use forward-looking terminology such as “may”, “will”, “expect”, “anticipate”, “believe”, “continue”, “potential” or the negative thereof or other variations thereof or comparable terminology. Such forward-looking information and forward-looking statements include, without limitation, information regarding the Company’s operating plans and the impacts of the operating arrangement on the Company’s business.

 

Neither forward-looking information or forward-looking statements are a guarantee of future performance and each are based upon a number of estimates and assumptions of management at the date the statements are made, including without limitation, that the Company’s operations and business will benefit as a result of the operating arrangement, and that the Company will be able to act on its strategic business objectives as anticipated. Furthermore, such forward-looking information and forward-statement statements each 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 information or forward-looking statements, including without limitation: the Company may not have sufficient funds to proceed with its operating plan as currently anticipated by management, or at all; the operating arrangement may not have the anticipated effect on the Company’s operations and business; fluctuations in market prices for oil and gas commodities; recent market volatility; loss of key personnel; and the state of the financial markets for the Company’s securities.

 

Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements and forward-looking information. Readers are cautioned that reliance on such information may not be appropriate for other purposes. The Company does not undertake to update any forward-looking statement, forward-looking information or financial outlook that are incorporated by reference herein, except in accordance with applicable securities laws. We seek safe harbor.

 

v3.24.4

Cover	Jan. 13, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Jan. 13, 2025
Entity File Number	001-41558
Entity Registrant Name	Permex Petroleum Corporation
Entity Central Index Key	0001922639
Entity Tax Identification Number	98-1384682
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	1700 Post Oak Blvd
Entity Address, Address Line Two	2 Blvd Place
Entity Address, Address Line Three	Suite 600
Entity Address, City or Town	Houston
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	77056
City Area Code	(346)
Local Phone Number	245-8981
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

---