Permex Petroleum Corp., trading under the ticker OTCMKTS:OILCF, is an independent exploration and production company focused on onshore oil and gas assets in Mexico. Since its incorporation in 1981, Permex has pursued a strategy of acquiring and operating mature fields with established infrastructure, aiming to optimize production and extend field life through enhanced recovery techniques. The company’s core business activities include the drilling of development wells, workovers on producing wells, and the deployment of waterflood and other secondary recovery methods to maximize hydrocarbon extraction from existing reservoirs.
Over the years, Permex has built a portfolio of assets primarily situated in northeastern Mexico, including interests in the Burgos Basin and the Tampico-Misantla Basin. These regions are known for their proven reserves of light oil and associated natural gas. By leveraging local partnerships and service agreements, Permex has streamlined its field operations and maintained compliance with Mexican regulatory requirements. The company’s technical team conducts regular reservoir studies and performance analyses to guide capital allocation and operational planning.
In addition to its production activities, Permex maintains a modest exploration program targeting satellite prospects adjacent to its core fields. This approach allows the company to capitalize on its existing infrastructure while limiting the geological and commercial risks associated with frontier exploration. Permex also explores opportunities to optimize midstream logistics and offtake arrangements, ensuring that produced hydrocarbons can be transported to market efficiently. Environmental stewardship and community engagement are integral to its operating philosophy, with Permex implementing measures to minimize surface disturbance and manage water resources responsibly.
Leadership at Permex Petroleum is headed by President and Chief Executive Officer Gary Wood, who brings over three decades of experience in the upstream sector. Under his tenure, the company has refined its asset portfolio and strengthened ties with both Mexican authorities and local industry partners. Supported by a compact management team, Permex continues to evaluate acquisition and joint‐venture prospects that align with its low‐risk, cash‐flow‐focused mandate. This disciplined approach aims to generate sustained value for shareholders while contributing to regional energy development.
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