Permex Petroleum Corp. · CSE:OIL
Permex Petroleum — Investor Presentation (March 2024)
19 slides from Permex Petroleum's investor presentation, March 2024
Slide 1: Conservative Plan – Aggressive Approach
CSE: OIL | OTCQB: OILCF Conservative Plan – Aggressive Approach Q1 2024
Slide 2: Forward Looking Statements
Forward Looking Statements This presentation includes certain statements that may be deemed forward - looking statements under applicable securities laws. All statements in this presentation, other than statements of historical facts, that address future events or developments that Permex Petroleum
Slide 3: Oil & Gas Disclosures
Oil & Gas Disclosures Oil Reserves Potential drilling opportunities have specifically been identified by management as an estimation of our All estimates of reserves and future net income contained in this presentation with respect to the experience in drilling activities based on evaluation of appl
Slide 4: Overview
Overview Permex Petroleum is a junior oil & gas company that Owns & Operates on Private, State & Federal Land in Texas & New Mexico TIMING GEOGRAPHY & GEOLOGY STRUCTURE § Acquired over 11,000+ acres § Permian Basin of West Texas & § 551,503 shares outstanding at discount during downcycle 1 Southeast
Slide 5: Overview
Overview Assets Owns and operates a portfolio of producing oil assets in Texas and New Mexico on private, state and federal land Scale Upside Horizontal leg conversion and lateral drilling programs in the San Andres formation Sustainable Upside Lower risk infill drilling and secondary recovery CSE:
Slide 6: Snapshot
Snapshot Summary of Assets Permex Petroleum (CSE: OIL; Net acres of held by production oil and gas assets in OTCQB: OILCD) 11,700+ Texas & New Mexico 1 Share Price USD $3.56 Basic Shares Outstanding 1 551,504 78+ Oil and gas wells owned and operated by corporation 2 Options (WAEP: USD $54.96) 20,313
Slide 7: Permian Basin Cross Sections
Permian Basin Cross Sections 2,000’ Central Basin Platform 3,000’ Yates 4,000’ Grayburg 5,000’ San Andres 6,000’ Delaware Basin Clearfork Midland Basin Wichita - Albany 7,000’ 8,000’ Wolfberry Bone Spring 9,000’ Wolfcamp 10,000’ CSE: OIL |OTCQB: OILCF |7
Slide 8: Demand for Permian Reserves
Demand for Permian Reserves Recent Transactions Announced in the Permian Basin October 11, 2023, Exxon Mobil (NYSE: XOM) to Acquire Pioneer Natural Resources (NYSE: PXD) in an all-stock transaction valued at $59.5 billion. 1 • “Transforms ExxonMobil’s upstream portfolio, more than doubling the compa
Slide 9: Martin County
Martin County Acquisition Nearly Triples Footprint of HBP Assets § Permex owns 7,800+ acres on the Breedlove field, Martin County, Texas § The properties are over 12 contiguous sections in the core of the Permian Basin, of which 98% is held by production (“HBP”) § 25 total vertical wells, including
Slide 10: Breedlove Property
Breedlove Property § Drilling commenced in September 2022 § Vertical test and completion January 2023 Logs show close to ~ 200 feet of pay in 3 separate zones CSE: OIL |OTCQB: OILCF |10
Slide 11: Management Team
Management Team Mehran Ehsan Greg Montgomery Barry Whelan President, CEO & Director CFO COO & Director § Has an impactful 14+ years of experience in the oil & gas § Experienced in the oil and gas industry § Experience as a geologist and engineer, initiating his industry, by leading numerous teams in
Slide 12: Directors & Advisory Board
Directors & Advisory Board J.P. Bryan Jay Lendrum Independent Director Independent Director § 50+ years experience in the oil and gas industry § Experienced in the oil and gas industry § Former President and CEO of Gulf Canada Resources Ltd. § Currently serves as Chairman of Nuevo Midstream Dos, § S
Slide 13: Reserves Summary
Reserves Summary SUMMARY OF PROVED (1P), PROBABLE (2P) RESERVES (As of Sep. 2023) PRE-TAX PRESENT $ Amounts in USD OIL (BBL) GAS (MCF) OPERATING INCOME 1 VALUE (10%) Proved 100%2 Developing Producing (PDP)3 363,490 231,950 $16,694,360.00 $8,618,370.00 Developed Non-Producing 705,580 571,020 $47,749,
Slide 14: NAV Analysis and Production Split
NAV Analysis1 and Production Split $287.75 3 1P Composition 7% $3.56 3 93% Basic and Diluted NAV / share Light and Medium Oil Natural Gas Current Share Price 1) Refer to appendix A. Fair market value of assets are derived from MKM reserve report dated 9/30/2023 and the company’s publicly filed Q3 20
Slide 15: Valuation - Peer Comps
Valuation - Peer Comps EV/1P EV/Flowing Enterprise Market Cap EV/EBITDA Debt/EBITDA Company3 Ticker Price ($) Standardized BOE per Commodity Production Split P/E (LTM) Value ($MM) ($MM) (LTM)4 (LTM) Measure1 day2 Battalion Oil Corporation BATL 5.86 320 96 0.2x $22,268 Gas: 29%, Oil: 49%, NGL: 22% 6.
Slide 16: Investment Highlights
Investment Highlights Targeted Oil & Gas Development and Producing Assets in the Trading at a Significant Discount to Industry Peers Permian Basin - Largest Petro Producing Basin in U.S. § Enterprise Value/Proved reserves (EV/1P) approx. 96% discount to § 11,700 net acres of held by production oil a
Slide 17: Contact Us
Contact Us Company Investor Relations [email protected] Renmark Financial (469) 804-1306 Communications Inc. Steve Hosein (416) 644-2020 or (212) 812-7680 [email protected] www.RenmarkFinancial.com VANCOUVER OFFICE DALLAS OFFICE NEW MEXICO OFFICE 666 Burrard Street 2911 Turtle Cre
Slide 18: Appendix A
Appendix A NAV Analysis for Permex Petroleum Total Proven Reserves $ 160,648,400 Long Term Debt & Working Capital (1,952,099) Hedging Gains 0.0 Total land, WC, hedging gains (1,952,099) Basic Net Asset Value 158,696,301 In-the-Money Options Proceeds - Fully Diluted Net Asset Value 158,696,301 Basic
Slide 19: Appendix B
Appendix B 1) Reserves report prepared by MKM engineering as of September 30,2023. Reports can be obtained on SEDAR website. CSE: OIL |OTCQB: OILCF |19
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