Permex Petroleum Corp. Files 2023 10-K

TL;DR

Permex Petroleum Corp. filed its 2023 10-K. Financials for FY23, FY22, FY21 included.

AI Summary

Permex Petroleum Corp. filed its 10-K for the fiscal year ending September 30, 2023. The company, operating in oil and gas well drilling, is headquartered in Dallas, Texas. The filing covers the period from October 1, 2022, to September 30, 2023, and includes financial data for the fiscal years ending September 30, 2023, 2022, and 2021.

Why It Matters

This 10-K filing provides a comprehensive overview of Permex Petroleum Corp.'s financial performance and operational status for the fiscal year 2023, crucial for investors and stakeholders to assess the company's health and future prospects.

Risk Assessment

Risk Level: medium — As an oil and gas drilling company, Permex Petroleum Corp. is subject to inherent industry risks including commodity price volatility and regulatory changes.

Key Numbers

• FY 2023 — Fiscal Year End (Reporting period for the 10-K)
• FY 2022 — Previous Fiscal Year End (Comparative financial data)
• FY 2021 — Prior Fiscal Year End (Comparative financial data)

Key Players & Entities

• Permex Petroleum Corp. (company) — Filer of the 10-K
• 20230930 (date) — Fiscal year end
• 20240729 (date) — Filing date
• Dallas, TX (location) — Company headquarters
• 1381 (industry_code) — Standard Industrial Classification for Drilling Oil & Gas Wells

FAQ

Key Financial Figures

• $1.25 million — ntly anticipates spending approximately $1.25 million in capital expenditures towards develop

Filing Documents

• form10-k.htm (10-K) — 1686KB
• ex4-2.htm (EX-4.2) — 7KB
• ex21-1.htm (EX-21.1) — 4KB
• ex23-1.htm (EX-23.1) — 7KB
• ex31-1.htm (EX-31.1) — 14KB
• ex31-2.htm (EX-31.2) — 14KB
• ex32-1.htm (EX-32.1) — 7KB
• ex32-2.htm (EX-32.2) — 7KB
• ex99-1.htm (EX-99.1) — 61KB
• ex4-2_001.jpg (GRAPHIC) — 276KB
• ex4-2_002.jpg (GRAPHIC) — 78KB
• 0001493152-24-029338.txt ( ) — 7765KB
• oilcf-20230930.xsd (EX-101.SCH) — 52KB
• oilcf-20230930_cal.xml (EX-101.CAL) — 74KB
• oilcf-20230930_def.xml (EX-101.DEF) — 156KB
• oilcf-20230930_lab.xml (EX-101.LAB) — 442KB
• oilcf-20230930_pre.xml (EX-101.PRE) — 328KB
• form10-k_htm.xml (XML) — 959KB

Business

Business 6 Item 1A

Risk Factors

Risk Factors 19 Item 1B Unresolved Staff Comments 33 Item 2

Properties

Properties 34 Item 3

Legal Proceedings

Legal Proceedings 34 Item 4 Mine Safety Disclosures 34 PART II Item 5 Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6

Selected Financial Data

Selected Financial Data 36 Item 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 36 Item 7A

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 42 Item 8

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data F-1 Item 9 Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 43 Item 9A

Controls and Procedures

Controls and Procedures 43 Item 9B Other Information 43 PART III Item 10 Directors, Executive Officers and Corporate Governance 44 Item 11

Executive Compensation

Executive Compensation 47 Item 12

Security Ownership of Certain Beneficial Ownersand Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Ownersand Management and Related Stockholder Matters 53 Item 13 Certain Relationships and Related Transactions, and Director Independence 55 Item 14 Principal Accounting Fees and Services 56 Item 15 Exhibits, Financial Statement Schedules 57 2 PERMEX PETROLEUM CORPORATION FORM 10-K As used in this Annual Report on Form 10-K, references to "Permex," "the Company," "we," "us" and "our" are to Permex Petroleum Corporation, a corporation organized under the laws of British Columbia, Canada, individually, or as the context requires, collectively with its subsidiaries. Certain operational terms used in this Annual Report are defined in the "Glossary of Terms" section below. All references to "U.S. Dollars," "USD" or "$" are to the legal currency of the United States, and all references to "CAD$" and "C$" are to the legal currency of Canada. All references to "M$" are in thousands of dollars. GLOSSARY OF TERMS Unless otherwise indicated in this Annual Report, natural gas volumes are stated at the legal pressure base of the state or geographic area in which the reserves are located at 60 degrees Fahrenheit. Crude oil and natural gas equivalents are determined using the ratio of six Mcf of natural gas to one barrel of crude oil, condensate or natural gas liquids. The following definitions shall apply to the technical terms used in this Annual Report. Terms used to describe quantities of crude oil and natural gas: " Bbl ." One stock tank barrel, of 42 U.S. gallons liquid volume, used herein in reference to crude oil, condensate or NGLs. " Boe ." A barrel of oil equivalent and is a standard convention used to express crude oil, NGL and natural gas volumes on a comparable crude oil equivalent basis. Gas equivalents are determined under the relative energy content method by using the ratio of 6.0 Mcf of natural gas to 1.0 Bbl of crude oil or NGL. " MBbl ." One thousand barrels of crude oil, condensate or

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View this 10-K filing on SEC EDGAR