PROPERTY AND EQUIPMENT

12 Months Ended

Sep. 30, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

5. PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	September 30, 2024			September 30, 2023
Oil and natural gas properties, at cost	$	10,600,489		$	10,501,244
Less: accumulated depletion		(330,036	)		(289,456	)
Oil and natural gas properties, net		10,270,453			10,211,788
Other property and equipment, at cost		18,505			205,315
Less: accumulated depreciation		(7,710	)		(55,684	)
Other property and equipment, net		10,795			149,631
Property and equipment, net	$	10,281,248		$	10,361,419

Depletion and depreciation expenses were $82,215 and $154,834 for the years ended September 30, 2024 and 2023, respectively. The Company also recorded write-offs of property and equipment of $62,046 and $nil for the years ended September 30, 2024 and 2023, respectively

PERMEX PETROLEUM CORPORATION

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

YEARS ENDED SEPTEMBER 30, 2024 AND 2023