Permex announces non-binding $25M MOU with Chisos for Permian Basin development

Permex Petroleum Corp

Non-binding MOU with Chisos Ltd. for up to US$25M development capital; initial US$10M tranche to drill 8 vertical wells on Breedlove asset.
Financing contingent on Permex matching funds dollar-for-dollar; definitive documentation still to be negotiated.
Chisos CEO James Perry Bryan, former Permex director, beneficially holds ~12.75% of Permex common shares on a partially diluted basis.
Entered intercreditor agreement equalizing lien priority between 2024 and 2025 debenture holders; waived July 2025 default under 2024 debentures.

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