Private company

Permex Petroleum Corp

Permex Petroleum Corp is a Canadian drilling oil and gas wells company based in Houston.2

Last updated Oct 20, 2026.

Overview

  • IndustryDrilling Oil & Gas Wells2
  • HeadquartersDallas, United States2
  • Incorporated inBritish Columbia, Canada3
  • Business address2950 North Loop West, Suite 500, Houston, Tx 770923
  • Filer category, Emerging growth company3
  • Legal formCorporation2
  • LEI254900F2OHYKQB3G3C892
  • StatusActive2
  • LEI statusLapsed (not renewed)2
  • Registered address666 Burrard Street, V6C 2X8 Vancouver, Canada2
  • Registered withBC Registry Services, BC11161862

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Mcf of natural gas to one barrel of crude oil, condensate or natural gas liquids.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2024

-3012.6%Operating margin6
-3980.5%Net margin6
-84.9%Revenue growth, 20246
-97.2%Return on equity6

Where the money goes

Where each dollar of revenue went, fiscal 2024

  • Income tax100¢$373.0K

Out of $100.2K in revenue.6 The company lost money this year.

Financial statements

Revenue786$100.2K in 2024+115% since 2021
0$250.0K$500.0K$750.0K$1.0M2021: $46.7K$46.7K20212022: $815.4K$815.4K2022+1646%2023: $665.6K$665.6K2023−18%2024: $100.2K$100.2K2024−85%
Operating income786-$3.0M in 2024+144% since 2021
-$4.0M-$3.0M-$2.0M-$1.0M02021: -$1.2M-$1.2M20212022: -$2.9M-$2.9M2022+135%2023: -$4.0M-$4.0M2023+37%2024: -$3.0M-$3.0M2024−24%
Net income786-$4.0M in 2024+218% since 2021
-$4.0M-$3.0M-$2.0M-$1.0M02021: -$1.3M-$1.3M20212022: -$2.7M-$2.7M2022+117%2023: -$3.9M-$3.9M2023+45%2024: -$4.0M-$4.0M2024+1%
Fiscal year20202021202220232024
Revenue$46.7K7$815.4K8$665.6K6$100.2K6
Operating expenses$3.8M8$4.7M6$3.1M6
Operating income-$1.2M7-$2.9M8-$4.0M6-$3.0M6
Interest$13.5K7$9.4K8$1.2K12
Income tax-$137.0K7-$244.0K8-$290.0K6-$373.0K6
Net income-$1.3M7-$2.7M8-$3.9M6-$4.0M6
Earnings per share-$1.847-$7.048-$8.816-$7.236
Earnings per share (diluted)-$7.048-$8.816-$7.236
Shares (weighted, basic)385.8K shares8508.8K shares6551.5K shares6
Shares (weighted, diluted)385.8K shares8508.8K shares6551.5K shares6

Compare Permex Petroleum Corp with another company

Corporate structure

Permex Petroleum Corp sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Permex Petroleum Corp

  • Empery Asset Management, LP Filed SC 13G/A on Permex Petroleum Corp, latest Jan 8, 2024 (2 filings since Jan 12, 2023)
  • Permex Petroleum Corp Dallas, Texas, United States
    • Permex Petroleum US Corporation Subsidiary · New Mexico, United States

Built from parent and subsidiary links from GLEIF, the Global Legal Entity Identifier Foundation (CC0); subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Permex Petroleum Corp reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$10.3M6 Sep 30, 2024$10.4M6 Sep 30, 2023−0.8%
Operating-lease assets (leased space)$146.9K6 Sep 30, 2023$240.8K8 Sep 30, 2022−39.0%
Oil and gas properties$10.3M6 Sep 30, 2024$10.2M6 Sep 30, 2023+0.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$1.5M6 Sep 30, 2024$82.7K6 Sep 30, 2023+1729.4%

Properties, in its own words

Executive Office

Our executive office is located at 1700 Post Oak Boulevard, 2 Blvd Place Suite 600, Houston Texas, 77056 and consists of one office leased space. We believe our current office space is sufficient to meet our needs and that additional office space can be obtained if necessary.

The rest of Item 2

Oil and Gas Properties

Information concerning proved and probable reserves, production, wells, acreage and related matters are contained in Item 1. “Business.”

Item 2 of the 10-K filed Jan 14, 2025.5

Leadership

Who has led Permex Petroleum Corp, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mehran Ehsan2022
  2. Brad Taillon2024

President

  1. Mehran Ehsan2022
  2. Brad Taillon2024

Chief financial officer

  1. Gregory Montgomery2022

Chief operating officer

  1. Barry Leslie Francis Whelan2022
2025
Board members and other officers (12)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorEdward Odishaw named Apr 12, 202226

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Permex Petroleum US Corporation New Mexico4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Timeline

  1. Jun 25, 20268-K Debt or obligation accelerated; Other events27
  2. Feb 25, 20268-K Debt or obligation accelerated; Executive or director change; Other events28
  3. Sep 9, 20258-K Entered a material agreement; Other events29
  4. Sep 5, 20258-K Entered a material agreement; Other events30
  5. Aug 22, 20258-K Other events31
  6. Jul 17, 20258-K Entered a material agreement; New debt or obligation; Unregistered sale of shares32
  7. May 8, 20258-K Executive or director change; Other events33
  8. Jan 16, 20258-K Other events34
  9. Dec 30, 20248-K Executive or director change35
  10. Nov 7, 20248-K Entered a material agreement; New debt or obligation; Unregistered sale of shares36
  11. Oct 28, 20248-K Executive or director change37
  12. Sep 24, 20248-K Other events38
  13. May 1, 2024New chief executive Brad Taillon becomes CEO13
  14. Nov 10, 2022New chief executive Mehran Ehsan becomes CEO14

Calendar

When it reported results

  1. Aug 29, 2024Reported quarterly or annual results39
  2. Aug 12, 2024Reported quarterly or annual results40

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

144 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 34 major events, 17 insider forms, 2 large holders, 4 private raises, 74 other. The latest 20:

  1. Jun 25, 20268-K EDGAR
  2. Apr 30, 2026SEC STAFF ACTION EDGAR
  3. Feb 25, 20268-K EDGAR
  4. Sep 9, 20258-K EDGAR
  5. Sep 5, 20258-K EDGAR
  6. Aug 22, 20258-K EDGAR
  7. Aug 13, 202510-Q EDGAR
  8. Jul 17, 20258-K EDGAR
  9. May 15, 202510-Q EDGAR
  10. May 8, 20258-K EDGAR
  11. Mar 11, 2025424B3 EDGAR
  12. Mar 11, 2025S-1/A EDGAR
  13. Mar 10, 2025EFFECT EDGAR
  14. Mar 6, 2025CORRESP EDGAR
  15. Feb 25, 2025CORRESP EDGAR
  16. Feb 25, 2025S-1/A EDGAR
  17. Feb 25, 2025S-1/A EDGAR
  18. Feb 19, 2025UPLOAD EDGAR
  19. Feb 14, 202510-Q EDGAR
  20. Jan 29, 2025S-1 EDGAR

The 144 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Nov 1, 2024Raised $4.2 million in a private offering of securities Form D: $18.6 million offered in all Form D
  2. Apr 16, 2024Raised $500,000 in a private offering of debt Form D: 1 investor so far Form D
  3. Jun 30, 2023Raised $754,013 in a private offering of equity Form D: 11 investors so far Form D
  4. Mar 28, 2022Raised $4.3 million in a private offering of equity Form D: 21 investors so far Form D

SEC filer profile

How Permex Petroleum Corp is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARPermex Petroleum Corp1
  • CIK0001922639
  • Employer ID (EIN)98-13846825
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated inBritish Columbia, Canada5
  • Fiscal year endsSeptember 301
  • Industry code (SIC)1381 Drilling Oil & Gas Wells1
  • SEC reviewing officeOffice of Energy & Transportation, Division of Corporation Finance1
  • Business address2950 North Loop West, Suite 500, Houston, TX 770921
  • Phone713-730-77971
  • Shares outstanding551,503 as of Aug 13, 202511
  • Public float$1.8M as of Mar 28, 20245
  • AuditorMarcum LLP, Houston, Texas PCAOB ID 688; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceApr 12, 20221
  • Filings144 in all: 8-K (34), 424B3 (17), S-1/A (17), 3 (12), 10-Q (10), CORRESP (9), UPLOAD (7), NT 10-Q (6)1
    All 24 form types

    4 (4), D (4), S-1 (4), 10-K (3), EFFECT (3), NT 10-K (3), DRS (2), 4/A (1), 8-A12B (1), CERT (1), DRSLTR (1), NT 10-Q/A (1), S-8 (1), SC 13G (1), SC 13G/A (1), SEC STAFF ACTION (1)

  • Latest filingsAnnual report (10-K) Jan 14, 2025
    Quarterly report (10-Q) Aug 13, 2025
    Latest 8-K (8-K) Jun 25, 2026

Risk factors and legal proceedings

The risks Permex Petroleum Corp names in Item 1A of its 10-K filed Jan 14, 2025: 45 risks under these headings, as written.5

  • Risks Related to Our Financial Position and Need for Capital
  • If we fail to obtain the capital necessary to fund our operations, we will be unable to continue our operations and you will likely lose your entire investment.
  • Even if we can raise additional funding, we may be required to do so on terms that are dilutive to you.
  • We have a limited operating history.
  • Our independent registered public accounting firm has expressed substantial doubt about our ability to continue as a going concern, which may hinder our ability to obtain future financing.
  • Risks Related to Our Business
  • Oil and gas prices are volatile, and declines in prices may adversely affect our financial position, financial results, cash flows, access to capital and ability to grow.
  • The actual quantities and present value of our proved oil, gas, and NGL reserves may be less than we have estimated.
  • Our acquisition strategy may subject us to certain risks associated with the inherent uncertainty in evaluating properties.
  • We may be unable to successfully integrate any assets we may acquire in the future into our business or achieve the anticipated benefits of such acquisitions.
  • Drilling for and producing oil, natural gas and NGLs are high risk activities with many uncertainties that could adversely affect our financial condition or results of operations.
  • Our future success depends on our ability to replace reserves.
The other 35 risks
  • Our business depends on third-party transportation and processing facilities and other assets that are owned by third parties.
  • The development of our proved undeveloped reserves may take longer and may require higher levels of capital expenditures than we currently anticipate. Therefore, our undeveloped reserves may not be ultimately developed or produced.
  • Weather conditions, which could become more frequent or severe due to climate change, could adversely affect our ability to conduct drilling, completion and production activities in the areas where we operate.
  • We may incur losses as a result of title defects in the properties in which we invest.
  • We conduct business in a highly competitive industry.
  • Decommissioning costs are unknown and may be substantial. Unplanned costs could divert resources from other projects.
  • Fuel conservation measures, technological advances and negative shift in market perception towards the oil and natural gas industry could reduce demand for oil and natural gas.
  • Our operations are concentrated in the Permian and Delaware Basins, making us vulnerable to risks associated with operating in a limited geographic area.
  • Increasing scrutiny and changing expectations from investors, lenders and other market participants with respect to our Environmental, Social and Governance (“ESG”) policies may impose additional costs on us or expose us to additional risks.
  • Our business could be negatively affected by security threats, including cybersecurity threats and other disruptions.
  • The unavailability, high cost or shortages of rigs, equipment, raw materials, supplies or personnel may restrict or result in increased costs for operators related to developing and operating our properties.
  • If we are unable to acquire adequate supplies of water for our future drilling and operations or are unable to dispose of the water we use at a reasonable cost and pursuant to applicable environmental rules, our ability to produce oil and natural gas commercially and in commercial quantities could be impaired.
  • Risks Related to Legal and Regulatory Matters
  • Our business is highly regulated and governmental authorities can delay or deny permits and approvals or change legal requirements governing our operations, including well stimulation, enhanced production techniques and fluid injection or disposal, that could increase costs, restrict operations and delay our implementation of, or cause us to change, our business strategy.
  • Failure to comply with environmental laws and regulations could result in substantial penalties and adversely affect our business.
  • Certain U.S. federal income tax deductions currently available with respect to natural gas and oil exploration and development may be eliminated as a result of future legislation.
  • Our business involves the selling and shipping by rail of crude oil, which involves risks of derailment, accidents and liabilities associated with cleanup and damages, as well as potential regulatory changes that may adversely impact our business, financial condition or results of operations.
  • Federal and state legislative and regulatory initiatives could result in increased costs and additional operating restrictions or delays.
  • The adoption of climate change legislation or regulations restricting emissions of greenhouse gases could result in increased operating costs and reduced demand for the oil and natural gas we produce.
  • We may be involved in legal proceedings that could result in substantial liabilities.
  • Legislation or regulatory initiatives intended to address seismic activity could restrict our operators’ drilling and production activities, which could have a material adverse effect on our business.
  • Some of our properties are in areas that may have been partially depleted or drained by offset wells and certain of our wells may be adversely affected by actions we or other operators may take when drilling, completing, or operating wells that we or they own.
  • Risks Related to our Common Shares
  • The market price of our securities is volatile and may not accurately reflect the long term value of our Company.
  • There is currently a limited U.S. public market for our common shares, the stock price of our common shares may be volatile or may decline regardless of our operating performance and you may not be able to resell your common shares at or above the price you acquired such common shares.
  • The price of our common shares may be volatile, and you could lose all or part of your investment.
  • There is no assurance that an investment in our securities will earn any positive return.
  • We have never paid cash dividends and have no plans to pay cash dividends in the future.
  • We may need to raise additional funds to support our business operations or to finance future acquisitions, including through the issuance of equity or debt securities, which could have a material adverse effect on our ability to grow our business, and may dilute your ownership in us.
  • We have issued convertible debentures, options and warrants and may continue to issue additional securities in the future. The exercise or conversion of these securities and the sale of the common shares issuable thereunder may dilute your percentage ownership interest and may also result in downward pressure on the price of our common shares.
  • Our principal shareholders and management own a significant percentage of our shares and may be able to exert significant control over matters subject to shareholder approval.
  • We are a British Columbia company and it may be difficult for you to enforce judgments against us or certain of our directors or officers.
  • If securities or industry analysts do not publish research or publish inaccurate or unfavorable research about our business, our share price and trading volume could decline.
  • Unstable market and economic conditions and adverse developments with respect to financial institutions and associated liquidity risk may have serious adverse consequences on our business, financial condition and stock price.
  • General Risk Factors
  • We are an “emerging growth company” and a “smaller reporting company” and will be able to avail ourselves of reduced disclosure requirements applicable to emerging growth companies and/or smaller reporting companies, which could make our securities less attractive to investors.
  • Failure to maintain effective internal control over our financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could cause our financial reports to be inaccurate.
  • Financial reporting obligations of being a public company in the U.S. are expensive and time-consuming, and our management will be required to devote substantial time to compliance matters.

Legal proceedings

The Company from time to time may be involved with disputes, claims and litigation related to the conduct of its business. The following are the material legal proceedings pending to which the Company is a party or to which any of its property is subject.

1. Atlas Tubular, LLC filed a suit against the Company on October 10, 2023 in the 14th Judicial District Court of Dallas, County, Texas, seeking damages of at least $172,981 for unpaid invoices. This amount is included in the Company’s trade payables as at September 30, 2024. The Company made a payment of $100,000 to Atlas Tubular in June 2024 towards this alleged debt.

2. Foundation Energy Services, LLC filed a suit against the Company on September 7, 2023 in the 160th Judicial District Court, Dallas County, Texas, seeking damages of at least $66,074 for unpaid invoices. This amount is included in the Company’s trade payables as at September 30, 2024. Foundation Energy Services, LLC was awarded a judgment for the amount owed, plus attorney’s fees of $11,055, court costs of $485, 5% interest, and $10,000 in post judgment attorney’s fees for collection efforts.

3. Premier Energy Services, LLC filed a suit against the Company on August 7, 2023 in the 118th Judicial District Court of Martin County, Texas, seeking damages of at least $104,205 for unpaid invoices. Of this amount, $95,541 is included in the Company’s trade payables as at September 30, 2024. The Company disputes the remaining $8,664 of the claimed damages.

The opening of Item 3, Legal Proceedings.5

Sources

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    SEC EDGAROther events
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