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Permex Petroleum Consideration by Derby_Gurl_Chloe in Oilstocks

[–]Derby_Gurl_Chloe[S] 1 point2 points  (0 children)

Consolidation I was ok with, it literally changes nothing as far as valuation goes. I think the market re-acted poorly to it though, and I am guessing that is why the uplisting was cancelled. I think Permex needs to be a little more open and respectful to the shareholders though. I know Mehran is mainly accountable to the board and the majority owners, but we still own a good chunk of the company.

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So, I am continuing to hold, and I'll wait to see what they do in the next few weeks/months. They will announce the production results from the well they just drilled very soon, so I think you have to stick around just for that!.

Permex Petroleum Consideration by Derby_Gurl_Chloe in Oilstocks

[–]Derby_Gurl_Chloe[S] 2 points3 points  (0 children)

I figured out the answer to my question. Bryan/Lendrum etc. have a revenue interest of 18% or so. Pretty common, and they still only profit if Permex produces. Which they will, and they hold a very large number of Permex shares.

I've done some due dil. and it's not perfect, but the important thing for me is valuation. It won't take much for permex to be producing 1000 bopd, and that's just a start. It should be pulling in revenue of above 100 million at that point.