Permex Petroleum Corporation (CSE:OIL) CEO Mehran Ehsan tells Proactive Investors the junior oiler has unveiled a major milestone in its development with the strategic acquisition of two producing assets in West Texas for around $1.95mln in cash.
The other major working interest partner on the field is international oil giant Occidental Petroleum Corporation (NYSE:OXY), which has a market cap of around US$65.19bn.
Permex will continue producing from the San Andres formation and review deeper prospects in the property.
