News Releases

Permex Petroleum Corporation Postpones Listing on NYSE American

Dallas, Texas, November 16, 2022 (GLOBE  NEWSWIRE) -- Permex Petroleum Corporation  (CSE: OIL) (OTCQB: OILCD)  (FSE: 75P)  (“Permex” or the  “Company”), an  independent energy company  engaged  in  the  acquisition,  exploration,  development  and production of oil  and natural gas  properties on private,  state and  federal land in the United  States, today announced that it has decided to postpone its listing on the NYSE American, which was announced on November 10, 2022, due to market conditions. Permex will reassess the market conditions in the coming months and will keep the market informed.

 A registration statement relating to Permex’s securities has been filed with the U.S. Securities and Exchange Commission but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the  solicitation of an offer  to buy these securities, nor shall  there be any sale of  these securities in any state or jurisdiction in which such offer, solicitation  or sale would be unlawful prior to registration or  qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.

About Permex Petroleum Corporation

Permex Petroleum is  a uniquely  positioned junior  oil and  gas company  with assets and operations across the Permian Basin of West Texas and the  Delaware Sub-Basin of  New  Mexico.  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 states, and owns  and operates on private, state and  federal land. For more information, please visit www.permexpetroleum.com.

Forward-Looking Statements

Statements in this press release may constitute forward-looking statements for the purposes of the safe  harbor  provisions under the Private  Securities Litigation Reform  Act  of  1995  and other  federal  securities  laws as well as applicable Canadian securities laws.  These forward-looking statements are made on the basis of the current beliefs, expectations and assumptions of management, are not guarantees of  performance and are subject to significant  risks and uncertainty. These forward-looking statements should, therefore, be considered in  light of  various  important factors, including those  set forth in  Company’s reports that  it files  from time to time with the U.S. Securities and Exchange Commission and the Canadian securities regulators  which  you  should  review. When  used  in  this  press release,  words  such  as  “will,”  “could,”  “plan,”  “estimate”,   “expect”, “intend”, “may”, “potential”, “believe”, “should” and similar expressions, are forward-looking statements.  Forward-looking statements  may include,  without limitation,  statements   relating   to   the  Company’s   plans to list on  NYSE American, financial  condition   and  operating   results,  legal,   economic, business, competitive and/or regulatory factors affecting Permex’s businesses and any other statements regarding events or developments Permex believes or anticipates will or may occur in the future. These forward-looking  statements should not be  relied upon as  predictions of future events, and the Company cannot assure you that the events or circumstances discussed or reflected in these statements will be achieved or will occur. If such forward-looking statements prove to be inaccurate, the inaccuracy may be material. You should not regard these statements as a representation or warranty by the Company or any other  person  that  it will  achieve its  objectives and  plans  in  any specified timeframe, or at all. You are cautioned not to place undue reliance on these forward-looking statements, which speak  only as of the date of  this press release.  The Company disclaims any  obligation to  publicly update  or release any  revisions to  these  forward- looking  statements, whether  as  a result of new information, future events or otherwise, after the date of this press release or to reflect the occurrence of unanticipated events, except as required by law.

Contact Information

Permex Petroleum Corporation
Mehran Ehsan
President, Chief Executive Officer & Director
(469) 804-1306

Gregory Montgomery
CFO & Director
(469) 804-1306

Or for Investor Relations, please contact:

Dave Gentry
[email protected]

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