Permex Petroleum Corp. Files for IPO

TL;DR

Permex Petroleum files S-1, gearing up for public trading. Oil & Gas.

AI Summary

Permex Petroleum Corp. filed an S-1 form on January 29, 2025, indicating its intention to go public. The company, operating in the oil and gas drilling sector, is based in Dallas, Texas, with its fiscal year ending on September 30. The filing details its financial structure, including share capital and retained earnings for the fiscal years ending September 30, 2022, 2023, and 2024.

Why It Matters

This S-1 filing signals Permex Petroleum Corp.'s move towards becoming a publicly traded company, which could provide it with capital for expansion and increase its visibility in the oil and gas industry.

Risk Assessment

Risk Level: medium — As an oil and gas company, Permex Petroleum is subject to the inherent volatility and regulatory risks associated with the energy sector.

Key Numbers

• 2022-09-30 — Fiscal Year End (Financial data reported for this period)
• 2023-09-30 — Fiscal Year End (Financial data reported for this period)
• 2024-09-30 — Fiscal Year End (Financial data reported for this period)

Key Players & Entities

• Permex Petroleum Corp. (company) — Filer of the S-1 registration statement
• 20250129 (date) — Date of filing
• Dallas, TX (location) — Company's business and mailing address
• 0930 (date) — Fiscal year end

FAQ

Key Financial Figures

• $4,276,389 — current outstanding principal amount of $4,276,389 plus twelve (12) months of interest on
• $1.91 — issuance at a fixed conversion price of $1.91 (the "Conversion Shares") issued by the
• $4.3 million — gregate gross proceeds of approximately $4.3 million. However, we cannot predict when and in
• $4.10 — the Canadian Securities Exchange was CAD$4.10 per Common Share. The CAD$ price per Co
• $2.86 — equivalent to a price of approximately $2.86 per Common Share, after giving effect t
• $1.00 — dollar/U.S. dollar exchange rate of CAD$1.00 to $0.697788 which was the noon buying
• $0.697788 — .S. dollar exchange rate of CAD$1.00 to $0.697788 which was the noon buying rate of the F
• $228.856 m — plus probable reserves is estimated at $228.856 million, or $414.97 per outstanding share
• $414.97 — es is estimated at $228.856 million, or $414.97 per outstanding share (basis). In parti
• $36.137 million — were 1,885 MBoe and had a PV10 value of $36.137 million; Our total probable reserves were 14,
• $192.719 million — ere 14,879 MBoe and had a PV10 value of $192.719 million; and Our total proved and probable re
• $228.256 million — es were 16,764 MBoe and a PV10 value of $228.256 million. The following is a summary of our ne

Filing Documents

• forms-1.htm (S-1) — 2181KB
• ex5-1.htm (EX-5.1) — 51KB
• ex5-2.htm (EX-5.2) — 23KB
• ex23-1.htm (EX-23.1) — 4KB
• ex23-4.htm (EX-23.4) — 7KB
• ex107.htm (EX-FILING FEES) — 15KB
• forms-1_001.jpg (GRAPHIC) — 16KB
• forms-1_002.jpg (GRAPHIC) — 95KB
• ex5-1_001.jpg (GRAPHIC) — 14KB
• ex5-2_001.jpg (GRAPHIC) — 13KB
• 0001493152-25-004169.txt ( ) — 8173KB
• oilcf-20240930.xsd (EX-101.SCH) — 55KB
• oilcf-20240930_cal.xml (EX-101.CAL) — 73KB
• oilcf-20240930_def.xml (EX-101.DEF) — 197KB
• oilcf-20240930_lab.xml (EX-101.LAB) — 456KB
• oilcf-20240930_pre.xml (EX-101.PRE) — 341KB
• forms-1_htm.xml (XML) — 927KB

RISK FACTORS

RISK FACTORS 14 CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS 32 MARKET FOR OUR COMMON SHARES AND RELATED STOCKHOLDER MATTERS 33 NOVEMBER 2024 CONVERTIBLE DEBENTURE AND WARRANT FINANCING 34 SELLING SHAREHOLDERS 35

USE OF PROCEEDS

USE OF PROCEEDS 37 DIVIDEND POLICY 37 CAPITALIZATION 37

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 38

BUSINESS

BUSINESS 47 MANAGEMENT 62

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 66

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT 77 CERTAIN RELATIONSHIPS AND RELATED PARTY TRANSACTIONS 78 DESCRIPTION OF SHARE CAPITAL 79 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 80 TAX CONSIDERATIONS 81 CAUTIONARY STATEMENT ON SERVICE OF PROCESS AND THE ENFORCEMENT OF CIVIL LIABILITIES 85 PLAN OF DISTRIBUTION 86 LEGAL MATTERS 87 EXPERTS 87 WHERE YOU CAN FIND ADDITIONAL INFORMATION 88 ABOUT THIS PROSPECTUS 88 INDEX TO CONSOLIDATED FINANCIAL STATEMENTS F-1 We and the selling shareholders have not authorized anyone to provide any information or to make any representations other than those contained in or incorporated by reference in this prospectus or in any free writing prospectuses prepared by or on behalf of us or to which we have referred you. We take no responsibility for, and can provide no assurance as to the reliability of, any other information that others may give you. This prospectus is an offer to sell only the securities offered hereby, but only under circumstances and in jurisdictions where it is lawful to do so. The information contained in or incorporated by reference in this prospectus is accurate only as of its date regardless of the time of delivery of this prospectus or of any sale of securities . To the extent there is a conflict between the information contained in this prospectus, on the one hand, and the information contained in any document incorporated by reference filed with the U.S. Securities and Exchange Commission (the "SEC") before the date of this prospectus, on the other hand, you should rely on the information in this prospectus. If any statement in a document incorporated by reference is inconsistent with a statement in another document incorporated by reference having a later date, the statement in the document having the later date modifies or supersedes the earlier statement. Neither we nor the selling shareholders have

View Full Filing

View this S-1 filing on SEC EDGAR