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Permex Petroleum CEO confident shareholders will 'reap the benefit' of planned IPO

Published: 09:18 02 May 2018 EDT

Permex Petroleum CEO Mehran Ehsan tells Proactive Investors the junior oil and gas company plans to close the book on May 17 and be live on the Canadian Securities Exchange under the ticker "OIL" starting May 21.

Ehsan says the company plans to use the funds raised to acquire new assets at a discount, re-stimulate 46 oil and gas wells with small-asset-formula programs, bring online 33 shut-in oil and gas wells, as well as water flood five of the seven oil fields the company owns.

Ehsan says Permex will continue growth by scaling up land reserve and production per day.

Permex Petroleum closes 7.5 million brokered private placement

Permex Petroleum CEO Mehran Ehsan joined Steve Darling from Proactive to share news the company has announced the closing of a brokered private placement amounting to 7.5 million U.S. dollars. Ehsan telling Proactive funds will be used for drilling and completion of oil & gas wells, rework,...

on 04/01/2022