CONCENTRATION OF CREDIT RISK	6 Months Ended
Mar. 31, 2025
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT RISK	4. CONCENTRATION OF CREDIT RISK The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash and trade receivables. The Company’s cash balances sometimes exceed the United States’ Federal Deposit Insurance Corporation insurance limits. The Company mitigates this risk by placing its cash with high credit quality financial institutions and attempts to limit the amount of credit exposure with any one institution. To date, the Company has not recognized any losses caused by uninsured balances. Trade receivables included in the Company’s receivable balance were $208,499 as of March 31, 2025 (September 30, 2024 - $26,873). For the three months ended March 31, 2025 and 2024, two purchasers accounted for approximately 97% and 100% of the Company’s revenue, respectively. For the six months ended March 31, 2025 and 2024, two purchasers accounted for approximately 97% and 100% of the Company’s revenue, respectively. The Company routinely assesses the financial strength of its purchasers. The non-trade receivable balance as of March 31, 2025 consists of goods and services tax (“GST”) recoverable of $18,739 (September 30, 2024 - $18,060). GST recoverable is due from the Canadian Government. It is management’s opinion that the Company is not exposed to significant credit risk. During the three months ended March 31, 2025, the Company recognized $nil (2024 - $nil) in credit losses on its receivables. During the six months ended March 31, 2025, the Company recognized $nil (2024 - $9,587) in credit losses on its receivables. PERMEX PETROLEUM CORPORATION NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2025 (UNAUDITED)

CONCENTRATION OF CREDIT RISK

6 Months Ended

Mar. 31, 2025

4. CONCENTRATION OF CREDIT RISK

The Company’s financial instruments that are exposed to concentrations of credit risk consist primarily of its cash and trade receivables. The Company’s cash balances sometimes exceed the United States’ Federal Deposit Insurance Corporation insurance limits. The Company mitigates this risk by placing its cash with high credit quality financial institutions and attempts to limit the amount of credit exposure with any one institution. To date, the Company has not recognized any losses caused by uninsured balances.

Trade receivables included in the Company’s receivable balance were $208,499 as of March 31, 2025 (September 30, 2024 - $26,873). For the three months ended March 31, 2025 and 2024, two purchasers accounted for approximately 97% and 100% of the Company’s revenue, respectively. For the six months ended March 31, 2025 and 2024, two purchasers accounted for approximately 97% and 100% of the Company’s revenue, respectively. The Company routinely assesses the financial strength of its purchasers. The non-trade receivable balance as of March 31, 2025 consists of goods and services tax (“GST”) recoverable of $18,739 (September 30, 2024 - $18,060). GST recoverable is due from the Canadian Government. It is management’s opinion that the Company is not exposed to significant credit risk. During the three months ended March 31, 2025, the Company recognized $nil (2024 - $nil) in credit losses on its receivables. During the six months ended March 31, 2025, the Company recognized $nil (2024 - $9,587) in credit losses on its receivables.

PERMEX PETROLEUM CORPORATION

NOTES TO CONDENSED INTERIM CONSOLIDATED FINANCIAL STATEMENTS

SIX MONTHS ENDED MARCH 31, 2025

(UNAUDITED)