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Permex Petroleum CEO explains shut-in wells stabilization, talks scaling operations

Permex Petroleum Corp (CSE:OIL) CEO Mehran Ehsan updates Proactive's Christine Corrado on operations, saying the junior oiler successfully re-entered and completed two shut-in wells, which will add to production.

The Texas and New Mexico wells came on line at an initial rate of 10 barrels of oil per day, but have now have stabilized at 5 barrels per day. In this interview, Ehsan explains this decline.

Ehsan also noted the company is in a position to bring online horizontal wells much sooner than anticipated, scaling company's operations and productions.

Quick facts: Permex Petroleum Corporation

Price: 0.075 CAD

CSE:OIL
Market: CSE
Market Cap: $3 m
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Fundamental Research targets Permex Petroleum at Buy ahead of growth plans

Permex Petroleum OIL (CNSX:OIL) CEO Mehran Ehsan tells Proactive Investors the junior oiler has had a 'buy' rating bestowed upon it by Fundamental Research. Permex’s current portfolio includes eight producing properties, including six in Texas, and two in New Mexico. In the past few...

on 19/7/18

2 min read