Permex Petroleum (OILCF) S-1/A 10 Feb 23 IPO registration (amended) Financial data

Cover

Cover	9 Months Ended
	Jun. 30, 2022
Cover [Abstract]
Document Type	S-1/A
Amendment Flag	true
Amendment Description	AMENDMENT NO. 2
Entity Registrant Name	PERMEX PETROLEUM CORPORATION
Entity Central Index Key	0001922639
Entity Primary SIC Number	1381
Entity Tax Identification Number	98-1384682
Entity Incorporation, State or Country Code	A1
Entity Address, Address Line One	2911 Turtle Creek Blvd
Entity Address, Address Line Two	Suite 925
Entity Address, City or Town	Dallas
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75219
City Area Code	(469)
Local Phone Number	804-1306
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Elected Not To Use the Extended Transition Period	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited)	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)
Current assets
Cash	$ 5,366,789	$ 6,727,758	$ 25,806	$ 5,517
Trade and other receivables	186,740	146,403	12,984	44,702
Prepaid expenses and deposits	878,119	81,236	46,151	15,603
Assets held for sale				2,714,341
Total current assets	6,431,648	6,955,397	84,941	2,780,163
Non-current assets
Reclamation deposits	145,052	145,000	144,847	194,750
Property and equipment	6,703,910	6,639,233	6,638,975	3,248,550
Right of use asset	37,522	49,195	72,539	49,870
Total assets	13,318,132	13,788,825	6,941,302	6,273,333
Current liabilities
Trade and other payables	1,123,635	581,772	402,979	699,592
Amounts due to related party	8,687	2,290	16,628	165,457
Convertible debentures	77,600	80,000	78,500	75,000
Lease liability – current portion	39,493	47,559	51,963	21,202
Liabilities held for sale				1,591,097
Total current liabilities	1,249,415	711,621	550,070	2,552,348
Non-current liabilities
Asset retirement obligations	577,308	569,070	552,594	271,402
Convertible debentures				75,000
Lease liability	3,313	8,414	26,986	31,926
Loan payable		32,000	31,400	30,000
Warrant liability	49,140	121,978
Total liabilities	1,879,176	1,443,083	1,161,050	2,960,676
Equity
Common stock	14,338,233	14,356,535	8,976,747	6,453,039
Additional paid-in capital	4,571,720	4,571,535	2,476,717	1,422,477
Accumulated other comprehensive loss	(127,413)	(127,413)	(127,413)	(270,302)
Deficit	(7,343,584)	(6,454,915)	(5,545,799)	(4,292,557)
Total equity	11,438,956	12,345,742	5,780,252	3,312,657
Total liabilities and equity	$ 13,318,132	$ 13,788,825	$ 6,941,302	$ 6,273,333

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	3 Months Ended	6 Months Ended	9 Months Ended			12 Months Ended
	Mar. 31, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Common stock, par value	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0	$ 0
Common stock, shares authorized	Unlimited	Unlimited	Unlimited	Unlimited	Unlimited	Unlimited	Unlimited
Common stock, shares outstanding	1,932,604	1,932,604	1,932,604	1,103,010	667,073	1,103,010	667,073
Common stock, shares issued	1,932,604	1,932,604		1,103,010	667,073	1,103,010	667,073
Previously Reported [Member]
Common stock, shares outstanding				1,103,010	667,073	1,103,010	667,073
Common stock, shares issued				1,103,010	667,073	1,103,010	667,073

Condensed Consolidated Statemen

Condensed Consolidated Statements of Loss and Comprehensive Loss (Unaudited)	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($) $ / shares	Mar. 31, 2021 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2020 USD ($) $ / shares
Revenue
Total revenue	$ 276,722	$ 241,886	$ 34,298	$ 40	$ 348,335	$ 3,094	$ 625,057	$ 37,392	$ 84,625	$ 682,786
Expenses
Production	135,467	115,000	11,179	9,949	196,879	10,213	332,346	21,392	59,671	557,624
General and administrative	1,053,070	204,366	145,150	115,037	1,013,972	197,791	2,067,042	342,941	496,381	412,594
Depletion and depreciation	73,093	56,884	12,717	2,077	88,895	9,238	161,988	21,955	60,479	37,291
Accretion on asset retirement obligations	8,238	8,223	2,987	2,931	16,476	5,805	24,714	8,792	19,907	49,700
Foreign exchange gain (loss)	(22,337)	3,644	14,195	10,476	8,614	27,152	(13,723)	41,347	24,301	(5,402)
Gain on settlement of asset retirement obligations										(10,415)
Forfeiture of reclamation deposit			(318)	50,483		50,483		50,165	50,165
Loss on disposal of property and equipment									613,457	879,070
Total operating expenses	(1,247,531)	(388,117)	(185,910)	(190,953)	(1,324,836)	(300,682)	(2,572,367)	(486,592)	(1,324,361)	(1,920,462)
Operating loss	(970,809)	(146,231)	(151,612)	(190,913)	(976,501)	(297,588)	(1,947,310)	(449,200)	(1,239,736)	(1,237,676)
Other income (expense)
Interest income		2			2		2			50
Other income	4,000	12,000			12,000		16,000
Forgiveness of loan payable	7,900						7,900
Finance expense	(2,598)	(1,180)	(1,348)	(5,110)	(24,648)	(9,768)	(27,246)	(11,116)	(13,506)	(15,905)
Change in fair value of warrant liability	72,838	(22,519)			80,031		152,869
Total other income (expense)	82,140	(11,697)	(1,348)	(5,110)	67,385	(9,768)	149,525	(11,116)	(13,506)	(15,855)
Net loss	(888,669)	(157,928)	(152,960)	(196,023)	(909,116)	(307,356)	(1,797,785)	(460,316)	(1,253,242)	(1,253,531)
Other comprehensive income
Foreign currency translation adjustment			49,419	40,389		196,182		245,969	142,889	(30,706)
Comprehensive loss	$ (888,669)	$ (157,928)	$ (103,541)	$ (155,634)	$ (909,116)	$ (111,173)	$ (1,797,785)	$ (214,347)	$ (1,110,353)	$ (1,284,237)
Basic and diluted loss per common share | $ / shares	$ (0.46)	$ (0.13)	$ (0.23)	$ (0.29)	$ (0.79)	$ (0.46)	$ (1.27)	$ (0.68)	$ (1.84)	$ (1.88)
Oil and Gas [Member]
Revenue
Total revenue	$ 258,757	$ 228,497	$ 34,298	$ 40	$ 318,487	$ 3,094	$ 577,244	$ 37,392	$ 46,703	$ 682,786
Royalty [Member]
Revenue
Total revenue	$ 17,965	$ 13,389			$ 29,848		$ 47,813		$ 37,922

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Equity (Unaudited) - USD ($)		Total	Previously Reported [Member]	Share Capital [Member]		Share Capital [Member] Previously Reported [Member]	[1]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Retained Earnings [Member] Previously Reported [Member]
Balance at Sep. 30, 2019		$ 4,592,720		$ 6,453,039				$ 1,418,302	$ (239,595)	$ (3,039,026)	$ (3,047,470)
Balance, shares at Sep. 30, 2019	[1]			667,073
Share-based payments		4,175						4,175
Net loss		(1,253,531)	$ (1,249,202)							(1,253,531)
Other comprehensive income		(30,707)	(39,084)						(30,707)
Balance at Sep. 30, 2020		3,312,657	3,308,609	$ 6,453,039				1,422,477	(270,302)	(4,292,557)	(4,096,774)
Balance, shares at Sep. 30, 2020				667,073	[2]	667,073
Share-based payments		1,915						1,915
Shares issued for services		20,108		$ 20,108
Balance, shares	[2]			10,938
Net loss		(307,356)								(307,356)
Other comprehensive income		196,550							196,550
Balance at Mar. 31, 2021		3,223,874		$ 6,473,147				1,424,392	(73,752)	(4,599,913)
Balance, shares at Mar. 31, 2021	[3]			678,011
Balance at Sep. 30, 2020		3,312,657	3,308,609	$ 6,453,039				1,422,477	(270,302)	(4,292,557)	(4,096,774)
Balance, shares at Sep. 30, 2020				667,073	[2]	667,073
Share-based payments		2,401						2,401
Shares issued for services		54,958		$ 54,958
Balance, shares				19,271
Net loss		(460,316)								(460,316)
Other comprehensive income		245,969							245,969
Balance at Jun. 30, 2021		3,155,669		$ 6,507,997				1,424,878	(24,333)	(4,752,873)
Balance, shares at Jun. 30, 2021				686,344
Balance at Sep. 30, 2020		3,312,657	3,308,609	$ 6,453,039				1,422,477	(270,302)	(4,292,557)	(4,096,774)
Balance, shares at Sep. 30, 2020				667,073	[2]	667,073
Share-based payments		2,870						2,870
Net loss		(1,253,242)	(1,245,057)							(1,253,242)
Other comprehensive income		142,889	141,703						142,889
Acquisition of property		2,468,750		$ 2,468,750
Acquisition of property, shares	[1]			416,666
Acquisition of property - warrants		1,051,370	1,180,718					1,051,370
Share issuance costs		54,958		$ 54,958
Shares issued for service, shares	[1]			19,271
Balance at Sep. 30, 2021		5,780,252		$ 8,976,747				2,476,717	(127,413)	(5,545,799)	(5,318,769)
Balance, shares at Sep. 30, 2021				1,103,010	[2]	1,103,010
Balance at Dec. 31, 2020		3,378,593		$ 6,473,147				1,423,477	(114,141)	(4,403,890)
Balance, shares at Dec. 31, 2020	[3]			678,011
Share-based payments		915						915
Net loss		(196,023)								(196,023)
Other comprehensive income		40,389							40,389
Balance at Mar. 31, 2021		3,223,874		$ 6,473,147				1,424,392	(73,752)	(4,599,913)
Balance, shares at Mar. 31, 2021	[3]			678,011
Share-based payments		486						486
Shares issued for services		34,850		$ 34,850
Balance, shares				8,333
Net loss		(152,960)								(152,960)
Other comprehensive income		49,419							49,419
Balance at Jun. 30, 2021		3,155,669		$ 6,507,997				1,424,878	(24,333)	(4,752,873)
Balance, shares at Jun. 30, 2021				686,344
Balance at Sep. 30, 2021		5,780,252		$ 8,976,747				2,476,717	(127,413)	(5,545,799)	(5,318,769)
Balance, shares at Sep. 30, 2021				1,103,010	[2]	1,103,010
Share-based payments		604,676						604,676
Private placements		7,910,331		$ 7,303,161				607,170
Private placements, shares	[2]			829,594
Net loss		(909,116)	(967,709)							(909,116)
Share issuance costs		(1,040,401)		(1,923,373)				882,972
Balance at Mar. 31, 2022		12,345,742		$ 14,356,535				4,571,535	(127,413)	(6,454,915)
Balance, shares at Mar. 31, 2022	[3]			1,932,604
Balance at Sep. 30, 2021		5,780,252		$ 8,976,747				2,476,717	(127,413)	(5,545,799)	$ (5,318,769)
Balance, shares at Sep. 30, 2021				1,103,010	[2]	1,103,010
Share-based payments		604,861						604,861
Private placements		7,910,331		$ 7,303,161				745,116
Private placements, shares				829,594
Net loss		(1,797,785)	(1,729,012)							(1,797,785)
Share issuance costs		(1,058,703)		(1,941,675)				882,972
Balance at Jun. 30, 2022		11,438,956		$ 14,338,233				4,571,720	(127,413)	(7,343,584)
Balance, shares at Jun. 30, 2022				1,932,604
Balance at Dec. 31, 2021		5,991,833		$ 9,307,648				3,108,585	(127,413)	(6,296,987)
Balance, shares at Dec. 31, 2021	[3]			1,147,127
Share-based payments		(2,649)						(2,649)
Private placements		7,540,580		$ 6,933,410				607,170
Private placements, shares	[3]			785,477
Net loss		(157,928)	(144,953)							(157,928)
Share issuance costs		(1,026,093)		(1,884,522)				858,429
Balance at Mar. 31, 2022		12,345,742		$ 14,356,535				4,571,535	(127,413)	(6,454,915)
Balance, shares at Mar. 31, 2022	[3]			1,932,604
Share-based payments		185						185
Net loss		(888,669)	$ (761,303)							(888,669)
Share issuance costs		(18,302)		(18,302)
Balance at Jun. 30, 2022		$ 11,438,956		$ 14,338,233				$ 4,571,720	$ (127,413)	$ (7,343,584)
Balance, shares at Jun. 30, 2022				1,932,604
[1]The number of shares has been restated to reflect the 60:1 share consolidation (Note 1).[2]The number of shares has been restated to reflect the 60:1 share consolidation (Note 1)[3]The number of shares has been restated to reflect the 60:1 share consolidation (Note 1)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited)	6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (909,116)	$ (307,356)	$ (1,797,785)	$ (460,316)	$ (1,253,242)	$ (1,253,531)
Adjustments to reconcile net loss to net cash from operating activities:
Accretion on asset retirement obligations	16,476	5,805	24,714	8,792	19,907	49,700
Depletion and depreciation	88,895	9,238	161,988	21,955	60,479	37,291
Foreign exchange loss (gain)	2,710	87,814	(1,062)	109,102	87,747	(2,209)
Forfeiture of reclamation bond		49,530		50,165	50,165
Change in fair value of warrant liability	(80,031)		(152,869)
Forgiveness of loan payable			(7,900)
Finance expense	12,359	8,642	14,956	11,116	13,506	15,905
Gain on settlement of decommissioning obligations						(10,415)
Settlement of trade payables		(7,572)		(9,683)	(9,682)	(23,329)
Proceeds from redemption of credit card deposit						18,600
Share-based payments	604,676	1,915	604,861	2,401	2,870	4,175
Shares issued for services		16,696		54,958	54,958
Loss on disposal of property and equipment					613,457	879,070
Changes in operating assets and liabilities:
Trade and other receivables	(133,419)	43,009	(173,756)	35,414	34,092	58,169
Prepaid expenses and deposits	(35,085)	(19,013)	(831,968)	(21,336)	(29,977)	40,218
Trade and other payables	179,859	(286,934)	695,431	(293,869)	(234,475)	82,876
Amounts due to related parties	(18,960)	(162,477)	(10,618)	(164,560)	(162,598)	102,052
Right of use asset and lease liability	(261)	1,528	(930)	2,476	3,010	3,232
Net cash used in operating activities	(271,897)	(559,175)	(1,474,938)	(653,385)	(749,783)	1,804
CASH FLOWS FROM INVESTING ACTIVITIES
Capital expenditures on property and equipment	(90,219)	(195,419)	(201,698)	(283,298)	(265,717)	(128,752)
Proceeds from sale of oil and gas interests		1,123,244		1,123,244	1,123,244
Net cash provided by (used in) investing activities	(90,219)	927,825	(201,698)	839,946	857,527	(128,752)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of share capital	8,112,340		8,112,340
Share issuance costs	(1,049,072)		(1,067,374)
Convertible debenture repayment		(2,730)		(79,000)
Loan repayment			(23,700)
Convertible debentures					(79,000)	148,800
Loan proceeds						29,760
Loan from related party			(3,647)	(6,329)	(8,455)	(48,793)
Loan from related party	800	(78,000)
Net cash provided by (used in) financing activities	7,064,068	(80,730)	7,017,619	(85,329)	(87,455)	129,767
Change in cash during the period	6,701,952	287,920	5,340,983	101,232	20,289	2,819
Cash, beginning of the period	25,806	5,517	25,806	5,517	5,517	2,698
Cash, end of the period	6,727,758	293,437	5,366,789	106,749	25,806	5,517
Supplemental disclosures of non-cash investing and financing activities:
Common stock issued in connection with property acquisition agreement					2,468,750
Common stock purchase warrants issued in connection with property acquisition agreement					1,051,370
Trade and other payables related to property and equipment	82,054	76,855	93,960	69,262	68,735	157,240
Share issued for services included in prepaid		3,413
Share purchase warrants issued in connection with private placement	1,692,151		1,692,151
Adjustments to decommissioning liabilities					376,647	(116,191)
Supplemental cash flow disclosures:
Interest paid	$ 18,960	$ 13,090	$ 18,960	$ 13,090	$ 13,090

BACKGROUND

BACKGROUND	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND	1. BACKGROUND Permex Petroleum Corporation (the “Company”) was incorporated on April 24, 2017 th On October 26, 2022, the Company’s board of directors approved a reverse stock split of the Company’s issued and outstanding common stock at a 1 for 60 ratio, which was effective November 2, 2022. The par value and authorized shares of common stock were not adjusted as a result of the reverse stock split. All issued and outstanding common stock, options, and warrants to purchase common stock and per share amounts contained in the financial statements have been retroactively adjusted to reflect the reverse stock split for all periods presented.	1. BACKGROUND Permex Petroleum Corporation (the “Company”) was incorporated on April 24, 2017 under the laws of British Columbia, Canada and maintains its head office at Suite 700, 100 Crescent Court, Dallas, Texas, 75201. Its registered office is located at 10 th On October 26, 2022, the Company’s board of directors approved a reverse stock split of the Company’s issued and outstanding common stock at a 1 for 60 ratio	1. BACKGROUND Permex Petroleum Corporation (the “Company”) was incorporated on April 24, 2017 under the laws of British Columbia, Canada and maintains its head office at Suite 500, 666 Burrard Street, Vancouver, British Columbia, Canada, V6C 2X8 and its US office at Suite 700, 100 Crescent Court, Dallas, Texas, 75201. Its registered office is located at 10 th On October 26, 2022, the Company’s board of directors approved a reverse stock split of the Company’s issued and outstanding common stock at a 1 for 60 ratio, which was effective November 2, 2022. The par value and authorized shares of common stock were not adjusted as a result of the reverse stock split. All issued and outstanding common stock, options, and warrants to purchase common stock and per share amounts contained in the financial statements have been retroactively adjusted to reflect the reverse stock split for all periods presented.

SIGNIFICANT ACCOUNTING POLICIES

SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
SIGNIFICANT ACCOUNTING POLICIES	2. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s amended Form S-1 for the fiscal year ended September 30, 2021 filed with the SEC on February 10, 2023. There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the fiscal 2021 financial statements, except as noted below. Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 2. Significant Accounting Policies (cont’d…) Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. Foreign Currency These consolidated financial statements are presented in United States dollars (“U.S. dollar”). The functional currency of the Company and the subsidiary of the Company is the U.S. dollar. The Company changed its functional currency from Canadian dollars (“CAD”) to the U.S. dollars as at October 1, 2021. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. Management determined that the Company’s functional currency had changed based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity financings and the primary economic environment are now in the U.S. as well as the expectation of the majority of the Company’s expenses will be denominated in U.S. dollars. Moreover, the Company’s place of business and management are now located in the United States. Recently adopted accounting pronouncement None.	2. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s amended Form S-1 for the fiscal year ended September 30, 2021 filed with the SEC on February 10, 2023. There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the fiscal 2021 financial statements, except as noted below. Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 2. Significant Accounting Policies Foreign Currency These consolidated financial statements are presented in United States dollars (“U.S. dollar”). The functional currency of the Company and the subsidiary of the Company is the U.S. dollar. The Company changed its functional currency from Canadian dollars (“CAD”) to the U.S. dollars as at October 1, 2021. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. Management determined that the Company’s functional currency had changed based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity financings and the primary economic environment are now in the U.S. as well as the expectation of the majority of the Company’s expenses will be denominated in U.S. dollars. Moreover, the Company’s place of business and management are now located in the United States. Recently adopted accounting pronouncement None.	2. SIGNIFICANT ACCOUNTING POLICIES Basis of presentation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Permex Petroleum US Corporation and have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). These consolidated financial statements are presented in United States dollars (“USD”). The functional currency of the Company is the Canadian dollar (“CAD”). The functional currency for the subsidiary of the Company is the United States dollar (“USD”). Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. Cash The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash and cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. Significant Accounting Policies Trade and other receivables Trade and other receivables are stated at net realizable value. The majority of customers are not extended credit and therefore time to maturity for receivables is short. On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance or if any accounts should be written off based on a past history of write-offs, collections, and current credit conditions. A receivable is considered past due if the Company has not received payments based on agreed-upon terms. Given the nature and balances of the Company’s receivables the Company has no material loss allowance as at September 30, 2021 and September 30, 2020. Property and equipment The Company follows the successful efforts method of accounting for its oil and gas properties. All costs for development wells along with related acquisition costs, the costs of drilling development wells, and related asset retirement obligation (ARO) assets are capitalized. Exploration costs, such as exploratory geological and geophysical costs, and costs associated with non-productive exploratory wells, delay rentals and exploration overhead are expensed. Costs of drilling exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project. The Company groups its oil and gas properties with a common geological structure or stratigraphic condition (“common operating field”) for purposes of computing depletion expenses, assessing proved property impairments and accounting for asset dispositions. Capitalized costs of proved oil and gas properties are depleted by individual field using a unit-of-production method based on proved and probable developed reserves. Proved reserves are estimated using reserve engineer reports and represent the estimated quantities of crude oil, natural gas and natural gas liquids, which geological, geophysical and engineering data demonstrate with a specified degree of certainty to be recoverable in future years from known reservoirs and which are considered commercially producible. Proved oil and natural gas properties are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast or carbon costs), significant change in the extent or manner of use of or a physical change in an asset, and a more-likely-than-not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved oil and natural gas properties, the Company performs impairment reviews on a field basis, annually or as appropriate. Other corporate equipment consist primarily of leasehold improvements and computer equipment and are stated at cost less accumulated depreciation. The capitalized costs are generally depreciated on a straight line basis over their estimated useful lives as follows: SCHEDULE OF ESTIMATED USEFUL LIVES Computer equipment 2 years Leasehold improvements 5 years PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Property and equipment For property dispositions, measurement is at fair value, unless the transaction lacks commercial substance or fair value cannot be reliably measured. Where the exchange is measured at fair value, a gain or loss is recognized in net income. Any deferred consideration recorded on property dispositions are recognized as revenue in the statement of loss and comprehensive loss over the reserve life. Gains or losses are recorded for sales or dispositions of oil and gas properties which constitute an entire common operating field or which result in a significant alteration of the common operating field’s depletion rate. These gains and losses are classified as asset dispositions in the accompanying consolidated statements of loss and comprehensive loss. Partial common operating field sales or dispositions deemed not to significantly alter the depletion rates are generally accounted for as adjustments to capitalized costs with no gain or loss recognized. Impairment of long-lived assets The Company assesses long-lived assets for impairment in accordance with the provisions of Financial Accounting Standards Board ASC 360, Property, Plant and Equipment Asset retirement obligations The Company’s activities give rise to dismantling, decommissioning, and site disturbance remediation activities. A provision is made for the estimated cost of site restoration and capitalized in the relevant asset category. Asset retirement obligations are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the reporting date. Changes in the present value of the estimated expenditure are reflected as an adjustment to the provision and the relevant asset. The unwinding of the discount on the asset retirement obligations is recognized as an accretion expense. Actual costs incurred upon settlement of the asset retirement obligations are charged against the provision to the extent the provision was recognized. Asset retirement obligations require the use of management’s best estimates of future remediation expenditures, expected timing of expenditures and future inflation rates. A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the liability. Provisions are not recognized for future operating losses. Provisions for retirement associated with the Company’s oil and gas operations are based on current legal and constructive requirements, technology, price levels and expected plans for remediation. Actual costs and cash outflows may differ from estimates due to changes in laws and regulations, public expectations, prices, discovery and analysis of site conditions and changes in clean up technology. Estimates are made using internal and external information. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Fair value measurement Fair value accounting is applied for all assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and expands disclosures about fair value measurements. The Company categorizes its assets and liabilities measured at fair value into a three-level hierarchy based on the priority of the inputs to the valuation technique used to determine fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement. Assets and liabilities valued at fair value are categorized based on the inputs to the valuation techniques as follows: Level 1 Level 2 Level 3 The financial statements as of and for the years ended September 30, 2021 and 2020, do not include any recurring or nonrecurring fair value measurements relating to assets or liabilities. Subsequent to initial recognition, the Company may re-measure the carrying value of assets and liabilities measured on a nonrecurring basis to fair value. Adjustments to fair value usually result when certain assets are impaired. Such assets are written down from their carrying amounts to their fair value. Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Company has not elected to measure any existing financial instruments at fair value. However, it may elect to measure newly acquired financial instruments at fair value in the future. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Leases At inception of a contract, the Company assesses whether a contract is, or contains a lease based on whether the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. The Company recognizes a right-of-use asset and a lease obligation at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date. The lease obligation is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease obligation. The lease obligation is subsequently measured at amortized cost using the effective interest rate method. Share capital The Company records proceeds from the issuance of its common shares as equity. Incremental costs directly attributable to the issue of new common shares are shown in equity as a deduction, net of tax, from the proceeds. Common shares issued for consideration other than cash are valued based on their market value at the date that the shares are issued. Warrants issued with private placement units are classified as equity and initially recorded at fair value with no subsequent remeasurement. Proceeds from the issuance of private placement units are allocated between the private placement warrants and common shares on a relative fair value basis. Earnings (loss) per share Basic earnings (loss) per share (“EPS”) is calculated by dividing the EPS attributable to common shareholders by the weighted average number of common shares outstanding in the period. The diluted EPS reflects all dilutive potential common share equivalents, in the weighted average number of common shares outstanding during the period, if dilutive. All of the outstanding convertible securities, stock options and warrants were anti-dilutive for the years ended September 30, 2021 and 2020. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Share-based payments The Company issues stock options and other share-based compensation to directors, employees and others service providers. Equity awards including stock options and share purchase warrants are measured at grant date at the fair value of the instruments issued and amortized over the vesting periods using a graded approach. The amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Each tranche in an award is considered a separate grant with a different vesting date and fair value and is accounted for on that basis. The offset to the recorded cost is to share-based payments reserve. The number of options expected to vest is reviewed and adjusted at the end of each reporting period such that the amount ultimately recognized as an expense is based on the number of options that eventually vest. Consideration received on the exercise of stock options is recorded as share capital and the related share-based payments reserve is transferred to share capital. The fair value of the equity awards is determined using the Black-Scholes option pricing model. Measurement inputs include share price on measurement date, exercise price of the instrument, expected volatility (based on weighted average historic volatility), weighted average expected life of the instruments (based on historical experience), expected dividends, and the risk-free interest rate (based on government bonds). Revenue In accordance with ASC 606, Revenue from Contracts with Customers, For natural gas, this is generally at the time product enters the pipeline. For crude oil, this is generally at the time the product reaches a trucking terminal. For natural gas liquids, this is generally at the time the product reaches a gas plant. Revenue is measured net of discounts, customs duties, royalties and withholding tax. Royalty income represents net revenue interests from the sale of crude oil and natural gas and is recognized upon the operators of the properties completing the sale of crude oil and natural gas. The Company records revenue in the month production is delivered to the purchaser. However, production statements for oil and gas sales may not be received until the following month end after the products are purchased, and as a result, the Company is required to estimate the amount of revenue to be received. The Company records the differences between its estimates and the actual amounts received for revenue in the month that payment is received from the customer. Identified differences between the Company’s revenue estimates and actual revenue received historically have not been significant. The Company believes that the pricing provisions of its oil, natural gas and natural gas liquids contracts are customary in the industry. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the revenue related to sales volumes and prices for those good sold are estimated and recorded. The Company does not have any contract assets or liabilities, or capitalized contract costs. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Foreign currencies Foreign currency transactions are translated into the functional currency using exchange rates prevailing at the dates of the transactions. At the end of each reporting period, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. Non-monetary assets and liabilities that are stated at fair value are translated using the historical rate on the date that the fair value was determined. All gains and losses on translation of these foreign currency transactions are charged to profit or loss. Financial statements of the parent company prepared under their functional currencies are translated into United States dollars for consolidation purposes as follows: assets and liabilities are translated using the exchange rate prevailing at the reporting date; revenue and expenses are translated using the average rates of exchange for the period. Gains and losses resulting from translation adjustments are recorded to other comprehensive income (loss) and accumulated as a separate component of shareholders’ equity, described as foreign currency translation adjustment. Income taxes Current taxes receivable or payable are estimated on taxable income or loss for the current year at the statutory tax rates enacted or substantively enacted at the reporting date. Deferred income tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax assets and liabilities are measured at the tax rates that have been enacted or substantially enacted at the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets also result from unused loss carry forwards, resource related pools and other deductions. At the end of each reporting year the Company reassesses unrecognized deferred tax assets. Deferred income tax assets are recognized for unused tax losses, tax credits and deductible temporary differences, only to the extent that it is probable that future taxable profit will be available against which they can be utilized. Deferred income tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to offset current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES New accounting standards In August 2020, the FASB issued ASU No. 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In June 2016, the FASB issued ASU No. 2016-13 (Topic 326), Financial Instruments — Credit Losses – Measurement of Credit Losses on Financial Instruments Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)

IMMATERIAL CORRECTION TO PRIOR

IMMATERIAL CORRECTION TO PRIOR PERIODS	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
IMMATERIAL CORRECTION TO PRIOR PERIODS	3. IMMATERIAL CORRECTION TO PRIOR PERIODS The Company changed the functional currency from Canadian dollars (“CAD”) to U.S. dollars in fiscal 2022. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. The Company’s interim financial statements previously filed for quarter two and three of fiscal 2022 were based on Canadian dollars as its functional currency. The tables below represent the balances of the affected accounts for the effect of the change in functional currency as well as the adjustments of 2021 that affect 2022 on the Consolidated Balance Sheet as of March 31, 2022 and the Condensed Consolidated Statement of Loss and Comprehensive Loss for the three and six months ended March 31, 2022. Certain of the prior period figures have been reclassified to conform to the current financial statement presentation. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Balance Sheet as of March 31, 2022 SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Previously reported Adjustments As Revised Balance as March 31, 2022 Previously reported Adjustments As Revised Cash $ 6,727,758 $ - $ 6,727,758 Trade and other receivables 146,403 146,403 Prepaid expenses and deposits 81,236 81,236 Reclamation deposits 145,000 145,000 Property and equipment, net 7,967,249 (1,077,822 )(a) 6,639,233 (129,348 )(b) (120,846 )(c) Right of use asset 49,736 (541 )(c) 49,195 Total assets 15,117,382 (1,328,557 ) 13,788,825 Trade and other payables 581,772 581,772 Amounts due to related party 2,290 2,290 Convertible debentures 80,000 80,000 Lease liability 55,973 55,973 Loan payable 32,000 32,000 Warrant liability - 121,978 (c) 121,978 Asset retirement obligations 1,655,428 (1,074,871 )(a) 569,070 (11,487 )(c) Total liabilities 2,407,463 (964,380 ) 1,443,083 Common stock 14,399,373 (42,838 )(c) 14,356,535 Additional paid-in capital 4,615,869 (129,348 )(a) 4,571,535 222,960 (d) (137,946 )(c) Accumulated other comprehensive income (18,845 ) (108,568 )(c) (127,413 ) Deficit (6,286,478 ) (4,070 )(a) (6,454,915 ) (222,960 )(b) 58,593 (c) Total equity 12,709,919 (364,177 ) 12,345,742 Total liabilities and equity $ 15,117,382 $ (1,328,557 ) $ 13,788,825 Consolidated Statements of Loss and Comprehensive Loss for the three and six months ended March 31, 2022 For the three months ended For the six months ended March 31, 2022 March 31, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised Revenue $ 241,886 - $ 241,886 $ 348,335 $ 348,335 Operating expenses $ (391,241 ) 3,124 $ (388,117 ) $ (1,324,358 ) (478 )(c) $ (1,324,836 ) Other income (expense) $ 4,402 (16,099 )(c) $ (11,697 ) $ 8,314 $ 59,071 (c) $ 67,385 Net Loss $ (144,953 ) (12,975 ) $ (157,928 ) $ (967,709 ) $ 58,593 $ (909,116 ) Foreign currency translation adjustment $ 82,825 $ (82,825 )(c) $ - $ 109,687 $ (109,687 )(c) $ - Comprehensive loss $ (62,128 ) $ (95,800 ) $ (157,928 ) $ (858,022 ) (51,094 ) $ (909,116 ) Loss Per Share- basic and diluted $ (0.12 ) $ (0.01 ) $ (0.13 ) $ (0.84 ) $ 0.05 $ (0.79 ) (a) Adjustment of decommissioning liability (b) Adjustment for correction of warrant fair value (c) Adjustment for functional currency change (d) Adjustment for reclassification of option cancellation PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statements of Cash Flows Previously reported Adjustments As Revised For the six months ended March 31, 2022 Previously reported Adjustments As Revised Net loss $ (967,709 ) $ 58,593 $ (909,116 ) Net cash provided by (used in) operating activities $ (231,131 ) $ (40,766 ) $ (271,897 ) Net cash provided by (used in) investing activities $ (90,657 ) $ 438 $ (90,219 ) Net cash provided by (used in) financing activities $ 7,023,740 $ 40,328 $ 7,064,068 Change in cash during the period $ 6,701,952 $ - $ 6,701,952 Cash, beginning of the period $ 25,806 $ - $ 25,806 Cash, end of the period $ 6,727,758 $ - $ 6,727,758	3. IMMATERIAL CORRECTION TO PRIOR PERIODS The Company changed the functional currency from Canadian dollars (“CAD”) to U.S. dollars in fiscal 2022. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. The Company’s interim financial statements previously filed for quarter two and three of fiscal 2022 were based on Canadian dollars as its functional currency. The tables below represent the balances of the affected accounts for the effect of the change in functional currency as well as the adjustments of 2021 that affect 2022 on the Consolidated Balance Sheets as of June 30, 2022 and the Condensed Consolidated Statements of Loss and Comprehensive Loss for the three and nine months ended June 30, 2022. Certain of the prior period figures have been reclassified to conform to the current financial statement presentation. Consolidated Balance Sheet as of June 30, 2022 SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Previously reported Adjustments As Revised Balance as June 30, 2022 Previously reported Adjustments As Revised Cash $ 5,366,789 $ - $ 5,366,789 Trade and other receivables 186,740 186,740 Prepaid expenses and deposits 878,119 878,119 Reclamation deposits 145,052 145,052 Property and equipment, net 7,838,520 (1,077,822 )(a) 6,703,910 (129,348 )(b) 72,560 (c) Right of use asset 37,369 153 (c) 37,522 Total assets 14,452,589 (1,134,457 ) 13,318,132 Trade and other payables 1,123,635 1,123,635 Amounts due to related party 8,687 8,687 Convertible debentures 77,600 77,600 Lease liability 42,806 42,806 Warrant liability - 49,140 (c) 49,140 Asset retirement obligations 1,645,171 (1,074,871 )(a) 577,308 7,008 (c) Total liabilities 2,897,899 (1,018,723 ) 1,879,176 Common stock 14,381,071 (42,838 )(c) 14,338,233 Additional paid-in capital 4,616,054 (129,348 )(a) 4,571,720 222,960 (d) (137,946) (c) Accumulated other comprehensive income (394,654 ) 267,241 (c) (127,413 ) Deficit (7,047,781 ) (4,070 )(a) (7,343,584 ) (222,960 )(b) (68,773 )(c) Total equity 11,554,690 (115,734 ) 11,438,956 Total liabilities and equity $ 14,452,589 $ (1,134,457 ) $ 13,318,132 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statements of Loss and Comprehensive Loss for the three and nine months ended June 30, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised For the three months ended For the nine months ended June 30, 2022 June 30, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised Revenue $ 276,722 - $ 276,722 $ 625,057 $ 625,057 Operating expenses $ (1,053,115 ) $ (194,416 )(c) $ (1,247,531 ) $ (2,371,686 ) $ (200,681 )(c) $ (2,572,367 ) Other income (expense) $ 15,090 67,050 (c) $ 82,140 $ 17,617 $ 131,908 (c) $ 149,525 Net Loss $ (761,303 ) (127,366 ) $ (888,669 ) $ (1,729,012 ) $ (68,773 ) $ (1,797,785 ) Foreign currency translation adjustment $ (375,809 ) $ 375,809 (c) $ - $ (266,122 ) $ 266,122 (c) $ - Comprehensive loss $ (1,137,112 ) $ 248,443 $ (888,669 ) $ (1,995,134 ) 197,349 $ (1,797,785 ) Loss Per Share- basic and diluted $ (0.36 ) $ (0.10 ) $ (0.46 ) $ (1.22 ) $ (0.05 ) $ (1.27 ) (a) Adjustment of decommissioning liability (b) Adjustment for correction of warrant fair value (c) Adjustment for functional currency change (d) Adjustment for reclassification of option cancellation Consolidated Statements of Cash Flows Previously reported Adjustments As Revised For the nine months ended June 30, 2022 Previously reported Adjustments As Revised Net loss $ (1,729,012 ) $ (68,773 ) $ (1,797,785 ) Net cash provided by (used in) operating activities $ (1,420,285 ) $ (54,653 ) $ (1,474,938 ) Net cash provided by (used in) investing activities $ (202,136 ) $ 438 $ (201,698 ) Net cash provided by (used in) financing activities $ 6,963,404 $ 54,215 $ 7,017,619 Change in cash during the period $ 5,340,983 $ - $ 5,340,983 Cash, beginning of the period $ 25,806 $ - $ 25,806 Cash, end of the period $ 5,366,789 $ - $ 5,366,789	3. IMMATERIAL CORRECTION TO PRIOR PERIODS During fiscal 2022, The Company has discovered errors in prior years financial statements. The errors are as follows: (a) The Company had previously used the US Treasury bond rate in calculating its asset retirement obligations rather than an appropriate credit adjusted risk free rate. This caused the asset retirement obligations and related oil and gas properties in prior years to be overstated. (b) During fiscal 2021, the Company issued warrants for the acquisition of the Breedlove property. An incorrect volatility was used in the calculation of the fair value of the warrants causing an overstatement of oil and gas properties and equity. (c) The Company incorrectly reduced reserves and reduced accumulated deficit for cancellations of stock options on fully vested share-based compensation awards. (d) During 2021, payments on operating leases were accounted for as financing cash flows. These payments should have been operating cash flows. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS The table below represents the balances of the affected accounts on the Consolidated Balance Sheet as of September 30, 2021, the Consolidated Statement of Loss and Comprehensive Loss for the year ended September 30, 2021, Consolidated Statement of Equity, and the Consolidated Statement of Cash Flows for the year ended September 30, 2021. Certain of the prior year figures have been reclassified to conform to the current financial statement presentation . Consolidated Balance Sheet SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Balance as reported on September 30, 2021 Adjustment of asset retirement obligations Adjustment for correction of warrant fair value Adjustment for reclassification of option cancellation Total Adjustments Balance as revised at September 30, 2021 Cash $ 25,806 $ 25,806 Trade and other receivables $ 12,984 $ 12,984 Prepaid expenses and deposits $ 46,151 $ 46,151 Reclamation deposits $ 144,847 $ 144,847 Property and equipment, net $ 7,846,145 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,638,975 Right of use asset $ 72,539 $ 72,539 Total assets $ 8,148,472 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,941,302 Trade and other payables $ 402,979 $ 402,979 Amounts due to related party $ 16,628 $ 16,628 Convertible debentures $ 78,500 $ 78,500 Lease liability $ 78,949 $ 78,949 Loan payable 31,400 $ 31,400 Asset retirement obligations $ 1,627,465 $ (1,074,871 ) $ (1,074,871 ) $ 552,594 Total liabilities $ 2,235,921 $ (1,074,871 ) $ (1,074,871 ) $ 1,161,050 Common stock $ 8,976,747 $ 8,976,747 Additional paid-in capital $ 2,383,105 $ (129,348 ) $ 222,960 $ 93,612 $ 2,476,717 Accumulated other comprehensive loss $ (128,532 ) 1,119 $ 1,119 $ (127,413) Deficit $ (5,318,769 ) $ (4,070 ) (222,960 ) $ (227,030 ) $ (5,545,799) Total equity $ 5,912,551 $ (2,951 ) $ (129,348 ) $ (132,299 ) $ 5,780,252 Total liabilities and equity $ 8,148,472 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,941,302 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statement of Loss and Comprehensive Loss For the year ended September 30, 2021 Previously reported Adjustments As Revised Revenue $ 84,625 $ - $ 84,625 Operating expenses $ (661,632 ) $ (8,185 ) $ (669,817 ) Other income (expense) $ (668,050 ) $ - $ (668,050 ) Net Loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Foreign currency translation adjustment $ 141,703 $ 1,186 $ 142,889 Comprehensive loss $ (1,102,709 ) $ (6,999 ) $ (1,109,708 ) Loss Per Share- basic and diluted $ (1.83 ) $ (0.01 ) $ (1.84 ) Consolidated Statement of Equity For the year ended September 30, 2021 Previously reported Adjustments As Revised Deficit at September 30, 2020 $ (4,096,774 ) $ (195,783 ) $ (4,292,557 ) Adjustment on cancelation of stock options $ (23,062 ) $ 23,062 $ - Deficit at September 30, 2021 $ (5,318,769 ) $ (227,030 ) $ (5,545,799 ) Reserve at September 30, 2020 $ 1,192,123 $ 199,898 $ 1,392,021 Acquisition of property - warrants $ 1,180,718 $ (129,348 ) $ 1,051,370 Reserve at September 30, 2021 $ 2,383,105 $ 93,612 $ 2,446,261 Net Loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Accumulated other comprehensive income at September 30, 2020 $ (270,235 ) $ (67 ) $ (270,302 ) Other comprehensive loss $ 141,703 $ 1,186 $ 142,889 Accumulated other comprehensive income at September 30, 2021 $ (128,532 ) $ 1,119 $ (127,413 ) Consolidated Statement of Cash Flows For the year ended September 30, 2021 Previously reported Adjustments As Revised Net loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Net cash provided by (used in) operating activities $ (705,851 ) $ (35,747 ) $ (749,783 ) Net cash provided by (used in) investing activities $ 857,527 $ - $ 857,527 Net cash provided by (used in) financing activities $ (131,387 ) $ 43,932 $ (87,455 ) Change in cash during the year $ 20,289 $ - $ 20,289 Cash, beginning of the year $ 5,517 $ - $ 5,517 Cash, end of the year $ 25,806 $ - $ 25,806 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS The table below represents the balances of the affected accounts on the Consolidated Balance Sheet as of September 30, 2020, the Consolidated Statement of Loss and Comprehensive Loss for the year ended September 30, 2020, Consolidated Statement of Equity, and the Consolidated Statement of Cash Flows for the year ended September 30, 2020. Certain of the prior year figures have been reclassified to conform to the current financial statement presentation . Consolidated Balance Sheet Balance as reported on September 30, 2020 Adjustment of asset retirement obligations Adjustment for correction of warrant fair value Adjustment for reclassification of option cancellation Total Adjustments Balance as revised at September 30, 2020 Cash $ 5,517 $ 5,517 Trade and other receivables $ 44,702 $ 44,702 Prepaid expenses and deposits $ 15,603 - $ 15,603 Assets held for sale $ 2,924,465 $ (210,124 ) $ (210,124 ) $ 2,714,341 Reclamation deposits $ 194,750 $ 194,750 Property and equipment, net $ 3,765,914 $ (517,364 ) $ (517,364 ) $ 3,248,550 Right of use asset $ 49,870 $ 49,870 Total assets $ 7,000,821 $ (727,488 ) - $ (727,488 ) $ 6,273,333 Trade and other payables $ 713,696 $ 713,696 Amounts due to related party $ 151,353 $ 151,353 Convertible debentures $ 150,000 $ 150,000 Liabilities held for sale $ 1,801,221 $ (210,124 ) $ (210,124 ) $ 1,591,097 Lease liability $ 53,128 $ 53,128 Loan payable 30,000 $ 30,000 Asset retirement obligations $ 792,814 $ (521,412 ) $ (521,412 ) $ 271,402 Total liabilities $ 3,692,212 $ (731,536 ) - $ (731,536 ) $ 2,960,676 Common stock $ 6,453,039 $ 6,453,039 Additional paid-in capital $ 1,222,579 $ 199,898 $ 199,898 $ 1,422,477 Accumulated other comprehensive loss $ (270,235 ) (67 ) $ (67 ) $ (270,302) Deficit $ (4,096,774 ) $ 4,115 - (199,898 ) $ (195,783 ) $ (4,292,557) Total equity $ 3,308,609 $ 4,048 - $ 4,048 $ 3,312,657 Total liabilities and equity $ 7,000,821 $ (727,488 ) - $ (727,488 ) $ 6,273,333 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statement of Loss and Comprehensive Loss For the year ended September 30, 2020 Previously reported Adjustments As Revised Revenue $ 682,786 $ - $ 682,786 Operating expenses $ (1,101,747 ) $ (4,329 ) $ (1,106,076 ) Other income (expense) $ (830,241 ) $ - $ (830,241 ) Net Loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Foreign currency translation adjustment $ (39,084 ) $ 8,377 $ (30,707 ) Comprehensive loss $ (270,235 ) $ (67 ) $ (270,302 ) Loss Per Share- basic and diluted $ (1.87 ) $ (0.01 ) $ (1.88 ) Consolidated Statement of Equity For the year ended September 30, 2020 Previously reported Adjustments As Revised Deficit at September 30, 2019 $ (3,047,470 ) $ 8,444 $ (3,039,026 ) Adjustment on cancelation of stock options $ (199,898 ) $ 199,898 $ - Deficit at September 30, 2020 $ (4,096,774 ) $ (195,783 ) $ (4,292,557 ) Reserve at September 30, 2020 $ 1,192,123 $ 199,898 $ 1,392,021 Net Loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Accumulated other comprehensive income at September 30, 2019 $ (231,151 ) $ (8,444 ) $ (239,595 ) Other comprehensive loss $ (39,084 ) $ 8,377 $ (30,707 ) Accumulated other comprehensive income at September 30, 2020 $ (270,235 ) $ (67 ) $ (270,302 ) Consolidated Statement of Cash Flows For the year ended September 30, 2020 Previously reported Adjustments As Revised Net loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Net cash provided by (used in) operating activities $ 22,766 $ (20,962 ) $ 1,804 Net cash provided by (used in) investing activities $ (128,752 ) $ - $ (128,752 ) Net cash provided by (used in) financing activities $ 108,805 $ 20,962 $ 129,767 Change in cash during the year $ 2,819 $ - $ 2,819 Cash, beginning of the year $ 2,698 $ - $ 2,698 Cash, end of the year $ 5,517 $ - $ 5,517 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020

CONCENTRATION OF CREDIT RISK

CONCENTRATION OF CREDIT RISK	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Risks and Uncertainties [Abstract]
CONCENTRATION OF CREDIT RISK	4. CONCENTRATION OF CREDIT RISK 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 and cash equivalents 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. During the six months ended March 31, 2022, the Company generated 75 100 55,255 40 2,927 26	4. CONCENTRATION OF CREDIT RISK 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 and cash equivalents 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. During the nine months ended June 30, 2022, the Company generated 54 % of total revenue from one customer (2021 - 100 %). As at June 30, 2022, one customer represented $ 107,738 ( 71 %) of the trade receivable balance (September 30, 2021 - $ 2,927 ( 26 %)). It is in management’s opinion that the Company is not exposed to significant credit risk.	4. CONCENTRATION OF CREDIT RISK 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 and cash equivalents 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. During the year ended September 30, 2021, the Company generated 49 % of total revenue from one customer (2020 - 45 %). As at September 30, 2021, one customer represented $ 2,927 ( 26 %) of the trade receivable balance (2020 - one customer represented $ 38,465 ( 95 %)). It is in management’s opinion that the Company is not exposed to significant credit risk.

NON-CURRENT ASSETS

NON-CURRENT ASSETS	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Non-current Assets
NON-CURRENT ASSETS	5. NON-CURRENT ASSETS The Company is engaged in the exploration for, and the development of, petroleum and natural gas projects in the United States. The Company holds 100% 71.9% 81.75% Property and equipment Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT March 31, 2022 September 30, 2021 Oil and natural gas properties, at cost $ 6,812,931 $ 6,723,778 Less: accumulated depreciation (173,698 ) (84,803 ) Property, net $ 6,639,233 $ 6,638,975 Depreciation expense was $ 88,895 9,238 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 5. NON-CURRENT ASSETS Acquisition During the year ended September 30, 2021, the Company and its wholly owned subsidiary, Permex Petroleum US Corporation, acquired a 100% Working Interest and a 81.75% Net Revenue Interest in the Breedlove “B” Clearfork leases located in Martin County, Texas. The Company issued 416,666 common shares and 208,333 share purchase warrants as consideration for this acquisition. The Company valued the 416,666 common shares issued at a fair value of $ 2,468,750 . The share purchase warrants were valued at $ 1,051,370 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 1.51% , an expected life of 10 -years, annualized volatility of 96.56 0% ). The warrants have an exercise price $ 8.76 per share (CAD$ 12.00 ) and are exercisable until September 30, 2031. Disposition During the year ended September 30, 2021, the Company sold its interests in the Peavy leases together with reclamation obligations for $ 10,000 604,687 8,770 Reclamation bonds As of March 31, 2022, the Company held reclamation bonds of $ 145,000 144,847 50,165	5. NON-CURRENT ASSETS The Company is engaged in the exploration for, and the development of, petroleum and natural gas projects in the United States. The Company holds 100 % working interests and 71.9 % to 81.75 % net revenue interests and certain royalty interests in the various oil and gas properties located in Texas and New Mexico. Property and equipment Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT June 30, September 30, Oil and natural gas properties, at cost $ 6,886,783 $ 6,723,778 Vehicle, at cost 63,918 - Less: accumulated depletion and depreciation (246,791 ) (84,803 ) Property and equipment, net $ 6,703,910 $ 6,638,975 Depletion and depreciation expense was $ 161,988 and $ 21,955 for the nine month periods ended June 30, 2022 and 2021, respectively. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 5. NON-CURRENT ASSETS Acquisition During the year ended September 30, 2021, the Company and its wholly owned subsidiary, Permex Petroleum US Corporation , acquired a 100 % Working Interest and a 81.75 % Net Revenue Interest in the Breedlove “B” Clearfork leases located in Martin County, Texas. The Company issued 416,666 common shares and 208,333 share purchase warrants as consideration for this acquisition. The Company valued the 416,666 common shares issued at a fair value of $ 2,468,750 . The share purchase warrants were valued at $ 1,051,370 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 1.51 %, an expected life of 10 -years, annualized volatility of 96.56 % and a dividend rate of 0 %). The warrants have an exercise price $ 8.76 per share (CAD$ 12.00 ) and are exercisable until September 30, 2031. Disposition During the year ended September 30, 2021, the Company sold its interests in the Peavy leases together with reclamation obligations for $ 10,000 604,687 8,770 Reclamation bonds As of June 30, 2022, the Company held reclamation bonds of $ 145,052 144,847 ), which are expected to be released after all reclamation work has been completed with regard to its oil and natural gas interests. During the year ended September 30, 2021, the Company wrote off $ 50,165 of reclamation deposit forfeited by the Texas State government due to violation on a previous owned property.	5. NON-CURRENT ASSETS The Company is engaged in the exploration for, and the development of, petroleum and natural gas projects in the United States. The Company holds 100 % working interests and 71.9 % to 81.75 % net revenue interests and certain royalty interests in the various oil and gas properties located in Texas and New Mexico. Reclamation bonds As of September 30, 2021, the Company held reclamation bonds of $ 144,847 (2020 - $ 194,750 ), which are expected to be released after all reclamation work has been completed with regard to its oil and natural gas interests. During the year ended September 30, 2021, the Company wrote off $ 50,165 of reclamation deposit forfeited by the Texas State government due to violation on a previous owned property. Property and equipment Property and equipment as of September 30, 2021 and 2020 consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT 2021 2020 Oil and natural gas properties $ 6,723,778 $ 3,336,906 Corporate assets - 42,436 Property and equipment, at cost 6,723,778 3,379,342 Less: accumulated depreciation and depletion (84,803 ) (130,792 ) Property and equipment, net $ 6,638,975 $ 3,248,550 Depreciation and depletion expense was $ 60,479 and $ 37,291 for the years ended September 30, 2021 and 2020, respectively. Acquisition During the year ended September 30, 2021, the Company, through its wholly owned subsidiary, Permex Petroleum US Corporation, acquired a 100 % Working Interest and a 81.75 % Net Revenue Interest in the Breedlove “B” Clearfork leases located in Martin County, Texas. The Company issued 416,666 common shares and 208,333 share purchase warrants as consideration for this acquisition. The Company valued the 416,666 common shares issued at a fair value of $ 2,468,750 . The share purchase warrants were valued at $ 1,051,370 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 1.51 %, an expected life of 10 -years, annualized volatility of 96.56% and a dividend rate of 0 %). The warrants have an exercise price $ 9.42 per share (CAD$ 12.00) and are exercisable until September 30, 2031. Dispositions During the year ended September 30, 2021, the Company sold its interests in the Peavy leases together with reclamation obligations for $ 10,000 and recognized a loss of $ 604,687 from the sale. The Company also recognized a loss of $ 8,770 from the disposal of equipment. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 5. NON-CURRENT ASSETS Assets held for sale During the year ended September 30, 2020, the Company initiated a plan to dispose of its interest in certain oil and gas leases. As a result, the carrying costs of the related assets and its associated decommissioning liabilities were included in a disposal group and classified as assets held for sale and liabilities held for sale, respectively, at September 30, 2020. The disposal group classified as held for sale were measured at the fair value less costs to sell and an impairment loss of $ 879,070 was recognized in the profit and loss during the year ended September 30, 2020. The Company believes the disposal group is not a separate major line of business; therefore, disclosure of discontinued operation is not being presented. The recoverable amount of the disposal group as of September 30, 2020 is as follows. SCHEDULE OF RECOVERABLE AMOUNT Assets held for sale Oil and gas properties $ 2,714,341 Liabilities held for sale Decommissioning liabilities $ 1,591,097 During the year ended September 30, 2021, the Company sold its interest in the oil and gas leases classified in assets and liabilities held for sale for $ 1,123,244 .

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT OBLIGATIONS	6. ASSET RETIREMENT The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS March 31, 2022 September 30, 2021 Asset retirement obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 16,476 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 569,070 $ 552,594 During the year ended September 30, 2021, the Company derecognized $ 125,511 112,317 13,194 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED)	6. ASSET RETIREMENT OBLIGATIONS The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS June 30, September 30, Decommissioning obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 24,714 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 577,308 $ 552,594 During the year ended September 30, 2021, the Company derecognized $ 125,511 in decommissioning obligations as a result of an assignment of certain oil and gas interests. The decommissioning obligations were offset by the decommissioning provision of $ 112,317 and a gain of $ 13,194 was netted against the loss realized from the sale of properties. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED)	6. ASSET RETIREMENT OBLIGATIONS The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS 2021 2020 Asset retirement obligations, beginning of the year $ 271,402 $ 1,942,075 Obligations acquired 258,726 - Obligations derecognized (125,511 ) (116,192 ) Change in estimates 117,921 - Accretion expense 19,907 49,700 Reclassification to liabilities held for sale - (1,591,097 ) Foreign exchange movement 10,149 (13,084 ) $ 552,594 $ 271,402 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 6. ASSET RETIREMENT OBLIGATIONS During the year ended September 30, 2021, the Company derecognized $ 125,511 (2020 - $ 116,192 ) in asset retirement obligations as a result of an assignment of certain oil and gas interests. The asset retirement obligations were offset by the asset retirement provision of $ 112,317 (2020 - $ 105,777 ) and a gain of $ 13,194 was netted against the loss realized from the sale of properties (2020 - a gain of $ 10,415 realized).

DEBT

DEBT	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Debt Disclosure [Abstract]
DEBT	7. DEBT Convertible debentures The Company issued a total of $ 157,000 200,000 maturity date of September 30, 2021 and February 20, 2022 12% 7.20 9.00 three years 9.60 12.00 80,000 100,000 78,500 nil 15,176 During the six months ended March 31, 2022 and 2021, the Company recorded interest of $ 3,688 9,768 79,000 100,000 13,090 18,960 13,090 Loan payable In May 2020, the Company opened a Canada Emergency Business Account (“CEBA”) and received a loan of $ 32,000 40,000 The CEBA program was established to provide interest-free loans of up to CAD$ 60,000 The loan is unsecured and non-interest bearing with an original repayment deadline of December 31, 2022. In January 2022, the Canadian government extended the repayment deadline to December 31, 2023 in order for the loan to be considered for partial forgiveness of up to one-third of the balance. Any loans not repaid by December 31, 2023 convert to two-year term 5%	7. DEBT Convertible debentures The Company issued a total of $ 157,000 (CAD$ 200,000 ) in convertible debentures to the CEO and a director of the Company on October 17, 2019 and February 21, 2020 for cash. The debentures are secured by an interest in all of the Company’s right, title, and interest in all of its oil and gas assets, had a maturity date of September 30, 2021 and February 20, 2022 , and bear interest at a rate of 12 % per annum, payable on maturity. The debentures are convertible at the holder’s option into units of the Company at $ 7.20 (CAD$ 9.00 ) per unit. Each unit will be comprised of one common share of the Company and one share purchase warrant; each warrant entitles the holder to acquire one additional common share for a period of three years at an exercise price of $ 9.60 (CAD$ 12.00 ). As of June 30, 2022, $ 77,600 (CAD$ 100,000 ) (September 30, 2021 - $ 78,500 ) of the debenture loan remained outstanding and the interest accrued on the loan was $ 4,241 (September 30, 2021 - $ 15,176 ). During the nine months ended June 30, 2022 and 2021, the Company recorded interest of $ 6,285 and $ 11,116 , respectively, and is included within amounts due to related party on the consolidated balance sheets. During the year ended September 30, 2021, the Company repaid $ 79,000 (CAD$ 100,000 ) of the convertible debenture together with accrued interest of $ 13,090 . During the nine months ended June 30, 2022, the Company paid interest of $ 18,960 (2021 - $ 13,090 ) accrued on the debentures. Loan payable In May 2020, the Company opened a Canada Emergency Business Account (“CEBA”) and received a loan of $ 32,000 (CAD$ 40,000 ) from the Canadian Government. The CEBA program was established to provide interest-free loans of up to CAD$ 60,000 to small businesses and not-for-profits to help them cover operating costs during the COVID-19 pandemic. The loan was unsecured and non-interest bearing with an original repayment deadline of December 31, 2022. In January 2022, the Canadian government extended the repayment deadline to December 31, 2023 in order for the loan to be considered for partial forgiveness of up to one-third of the balance. Any loans not repaid by December 31, 2023 convert to two-year term loans bearing interest at an annual rate of 5 % starting January 1, 2024, with loans fully due by December 31, 2025. During the nine months ended June 30, 2022, the Company repaid the loan balance of $ 23,700 (CAD$ 30,000 ) and recognized a gain of $ 7,900 (CAD$ 10,000 ) on the forgiven amount.	7. DEBT Convertible debentures The Company issued a total of $ 150,000 (CAD$ 200,000 ) in convertible debentures to the CEO and a director of the Company on October 17, 2019 and February 21, 2020 for cash. The debentures are secured by an interest in all of the Company’s right, title, and interest in all of its oil and gas assets, have a maturity date of September 30, 2021 and February 20, 2022 , and bear interest at a rate of 12 % per annum, payable on maturity. The debentures are convertible at the holder’s option into units of the Company at $ 7.20 (CAD$ 9.00 ) per unit. Each unit will be comprised of one common share of the Company and one share purchase warrant; each warrant entitles the holder to acquire one additional common share for a period of three years at an exercise price of $ 9.60 (CAD$ 12.00 ). During the year ended September 30, 2021 and 2020, the Company accrued interest of $ 13,506 and $ 13,991 , respectively, and is included within amounts due to related party on the consolidated balance sheets. During the year ended September 30, 2021, the Company repaid $ 79,000 (CAD$ 100,000 ) of the convertible debenture together with accrued interest of $ 13,090 . Loan payable In May 2020, the Company opened a Canada Emergency Business Account (“CEBA”) and received a loan of $ 30,000 40,000 ) from the Canadian Government. The CEBA program was established to provide interest-free loans of up to CAD$ 60,000 to small businesses and not-for-profits to help them cover operating costs during the COVID-19 pandemic. The loan is unsecured and non-interest bearing with an original repayment deadline of December 31, 2022. In January 2022, the Canadian government extended the repayment deadline to December 31, 2023 in order for the loan to be considered for partial forgiveness of up to one-third of the balance. Any loans not repaid by December 31, 2023 convert to two-year term loans bearing interest at an annual rate of 5 % starting January 1, 2024, with loans fully due by December 31, 2025.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	8. COMMITMENTS AND CONTINGENCIES Lease Liability The Company has entered into office lease agreements for its office premises for terms ending in 2023. As of March 31, 2022, the Company’s lease had a weighted-average remaining term of 1.16 SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 27,921 2023 32,288 Total lease payments $ 60,209 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 8. COMMITMENTS AND CONTINGENCIES The components of lease expense for the six month periods ended March 31 were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2022 2021 Fixed lease expense $ 27,774 $ 16,389 Variable lease expense 5,744 3,747 Total $ 33,518 $ 20,136 The following is a continuity schedule of the lease liability: SCHEDULE OF LEASE LIABILITY March 31, 2022 September 30, 2021 Balance, beginning of the year $ 78,949 $ 53,128 Addition - 57,357 Interest expense 4,169 9,812 Lease payments (27,145 ) (43,932 ) Foreign exchange movement - 2,584 Balance, end of the year $ 55,973 $ 78,949 Current liability $ 47,559 $ 51,963 Long-term liability $ 8,414 $ 26,986	8. COMMITMENTS AND CONTINGENCIES Lease Liability The Company has entered into office lease agreements for its office premises for terms ending in 2023. As of June 30, 2022, the Company’s lease had a weighted-average remaining term of 0.93 year. The undiscounted future lease payments as of June 30, 2022 are as follows: SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 13,785 2023 31,643 Total lease payments $ 45,428 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 8. COMMITMENTS AND CONTINGENCIES The components of lease expense for the nine month periods ended June 30 were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2022 2021 Fixed lease expense $ 41,661 $ 30,194 Variable lease expense 13,246 4,597 Total $ 54,907 $ 34,791 The following is a continuity schedule of the lease liability: SCHEDULE OF LEASE LIABILITY June 30, September 30, Balance, beginning of the year $ 78,949 $ 53,128 Addition - 57,357 Interest expense 5,714 9,812 Lease payments (41,857 ) (43,932 ) Foreign exchange movement - 2,584 Balance, end of the year $ 42,806 $ 78,949 Current liability $ 39,493 $ 51,963 Long-term liability $ 3,313 $ 26,986	8. COMMITMENTS AND CONTINGENCIES Lease Liability The Company has entered into office lease agreements for its office premises for terms ending in 2023. As of September 30, 2021, the Company’s lease had a weighted-average remaining term of 1.6 years. The undiscounted future lease payments as of September 30, 2021 are as follows: SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 55,402 2023 31,885 Total lease payments $ 87,287 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 8. COMMITMENTS AND CONTINGENCIES Lease Liability The components of lease expense were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2021 2020 Fixed lease expense $ 43,932 $ 20,962 Variable lease expense 10,404 6,048 Total $ 54,336 $ 27,010 The following is a continuity schedule of lease liability: SCHEDULE OF LEASE LIABILITY 2021 2020 Balance, beginning of the year $ 53,128 $ - Addition 57,357 66,432 Interest expense 9,812 7,233 Lease payments (43,932 ) (20,962 ) Foreign exchange movement 2,584 425 Balance, end of the year $ 78,949 $ 53,128 Current liability $ 51,963 $ 21,202 Long-term liability $ 26,986 $ 31,926

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	9. RELATED PARTY TRANSACTIONS During the year ended September 30, 2020, the Company issued a total of $ 157,000 (CAD$ 200,000 ) in convertible debentures to the CEO and a director of the Company for cash. During the year ended September 30, 2021, the Company repaid $ 79,000 (CAD$ 100,000 ) of the convertible debenture due to a director of the Company together with accrued interest of $ 13,090 . As of March 31, 2022, $ 80,000 (CAD$ 100,000 ) (September 30, 2021 - $ 78,500 ) of the debenture loan remained outstanding and the interest accrued on the loan was $ nil (September 30, 2021 - $ 15,176 ). During the six months ended March 31, 2022, the Company incurred management fees of $ 109,773 75,116 Subsequent to March 31, 2022, the Company amended the employment agreement with the CEO of the Company for an annual base salary of $ 250,000 , with no specified term. The CEO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to three years of base salary and a bonus equal to 20% of the annual base salary. Subsequent to March 31, 2022, the Company entered into an employment agreement with the CFO of the Company for an annual base salary of $ 50,000 , with no specified term. The CFO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to two months of base salary. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED)	9. RELATED PARTY TRANSACTIONS During the year ended September 30, 2020, the Company issued a total of $ 157,000 (CAD$ 200,000 ) in convertible debentures to the CEO and a director of the Company for cash. During the year ended September 30, 2021, the Company repaid $ 79,000 (CAD$ 100,000 ) of the convertible debenture due to a director of the Company together with accrued interest of $ 13,090 . As of June 30, 2022, $ 77,600 (CAD$ 100,000 ) (September 30, 2021 - $ 78,500 ) of debenture loan remained outstanding and the interest accrued on the loan was $ 4,241 (September 30, 2021 - $ 15,176 ). During the nine months ended June 30, 2022, the Company incurred management fees of $ 176,989 (2021 - $ 112,478 ) to the CEO of the Company. The Company considers this a related party transaction, as it relates to key management personnel and entities over which it has control or significant influence. On May 1, 2022, the Company amended the employment agreement with the CEO of the Company for an annual base salary of $ 250,000 , with no specified term. The CEO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to three years of base salary and a bonus equal to 20% of the annual base salary. On May 1, 2022, the Company entered into an employment agreement with the CFO of the Company for an annual base salary of $ 50,000 , with no specified term. The CFO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to two months of base salary. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED)	9. RELATED PARTY TRANSACTIONS During the year ended September 30, 2020, the Company issued a total of $ 150,000 (CAD$ 200,000 ) in convertible debentures to the CEO and a director of the Company for cash (Note 6). During the year ended September 30, 2021, the Company repaid $ 79,000 (CAD$ 100,000 ) of the convertible debenture due to a director of the Company together with accrued interest of $ 13,090 . As of September 30, 2021, $ 78,500 (CAD$ 100,000 ) of the debenture loan remained outstanding and the accrued interest of $ 15,176 (2020 - $ 14,104 ) was included in amounts due to related parties. During the year ended September 30, 2021, the Company incurred management fees of $ 149,806 (2020 - $ 144,288 ) to a company controlled by the CEO of the Company. The Company considers this a related party transaction, as it relates to key management personnel and entities over which it has control or significant influence. Included in amounts due to related parties are $ 1,321 145,063 131 6,290 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020

EQUITY

EQUITY	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Equity [Abstract]
EQUITY	10. EQUITY Common stock The Company has authorized an unlimited number of common shares with no par value. At March 31, 2022 and September 30, 2021, the Company had 1,932,604 and 1,103,010 common shares issued and outstanding, respectively. During the six months ended March 31, 2022, the Company: a) Completed a non-brokered private placement of 44,117 units at a price of $ 12.96 (CAD$ 16.20 ) per unit for gross proceeds of $ 571,760 (CAD$ 714,700 ). Each unit is comprised of one common share and one half of one share purchase warrant; each whole warrant entitles the holder to acquire one additional common share for a period of 24 months at an exercise price of $ 25.80 (CAD$ 32.40 ). $ 202,009 of the proceeds was allocated to the warrants and recorded as a warrant liability. The Company paid $ 34,733 and issued 2,680 agent’s warrants as a finders’ fee. The finder’s warrants have the same terms as the warrants issued under the private placement. The finder’s warrants were valued at $ 24,543 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 0.98% , an expected life of 2 years, annualized volatility of 153.02% and a dividend rate of 0% ). The Company also incurred filing and other expenses of $ 800 in connection with the private placement. $ 8,671 of issuance costs related to the warrants was recorded in the statement of loss and comprehensive loss. b) Completed a brokered private placement of 785,477 9.60 7,540,580 5 607,170 754,058 78,548 131,560 858,429 2.45% 5 134.66% 0% 140,475 During the year ended September 30, 2021, the Company: a) Issued 19,271 common shares of the Company with a fair value of $ 54,958 pursuant to service agreements. b) Issued 416,666 2,468,750 Share-based payments Stock options The Company has a stock option plan (the “Plan”) in place under which it is authorized to grant options to executive officers and directors, employees and consultants. Pursuant to the Plan, the Company may issue aggregate stock options totaling up to 10% 10 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 10. EQUITY Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Granted 55,000 10.51 Balance, March 31, 2022 92,917 $ 15.00 Exercisable at March 31, 2022 92,917 $ 15.00 Weighted average fair value of options granted $ 11.40 (2021 - $ nil The aggregate intrinsic value of options outstanding and exercisable as at March 31, 2022 was $ nil nil The options outstanding as of March 31, 2022 equalled 92,917 2.40 24 8.13 11.40 During the six month periods ended March 31, 2022 and 2021, the Company recognized share-based payment expense of $ 604,676 1,915 SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2022 2021 Risk-free interest rate 1.50 % - Expected life of options 10 - Expected annualized volatility 96.56 % - Dividend rate Nil - As at March 31, 2022, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 21.90 December 4, 2027 5,000 $ 13.14 November 1, 2028 5,000 $ 2.19 March 16, 2030 55,000 $ 10.51 October 6, 2031 92,917 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 10. EQUITY Warrants Warrants are measured at fair value on the date of the grant as determined using the Black-Scholes option pricing model. Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Balance, September 30, 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42 Granted 888,763 12.91 Balance, March 31, 2022 1,097,096 $ 12.12 As at March 31, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096 22,059 202,009 80,031 The following weighted average assumptions were used for the Black-Scholes valuation of warrants as at March 31, 2022 and November 4, 2021: SCHEDULE OF VALUATION OF WARRANTS March 31, 2022 November 4, 2021 Risk-free interest rate 2.27 % 0.98 % Expected life of options 1.5 2 Expected annualized volatility 143.52 % 153,02 % Dividend rate Nil Nil Weighted average fair value of options granted $ 6.91 $ 11.45 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED)	10. EQUITY Common stock The Company has authorized an unlimited number of common shares with no par value. At June 30, 2022 and September 30, 2021, the Company had 1,932,604 and 1,103,010 common shares issued and outstanding, respectively. During the nine months ended June 30, 2022, the Company: a) Completed a non-brokered private placement of 44,117 units at a price of $ 12.96 (CAD$ 16.20 ) per unit for gross proceeds of $ 571,760 (CAD$ 714,700 ). Each unit is comprised of one common share and one half of one share purchase warrant; each whole warrant entitles the holder to acquire one additional common share for a period of 24 months at an exercise price of $ 25.80 (CAD$ 32.40). $ 202,009 of the proceeds was allocated to the warrants and recorded as a warrant liability. The Company paid $ 34,733 and issued 2,680 agent’s warrants as a finders’ fee. The finder’s warrants have the same terms as the warrants issued under the private placement. The finder’s warrants were valued at $ 24,543 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 0.98 %, an expected life of 2 years, annualized volatility of 153.02 % and a dividend rate of 0 %). The Company also incurred filing and other expenses of $ 800 in connection with the private placement. $8,671 of issuance costs related to the warrants was recorded in the statement of loss and comprehensive loss. b) Completed a brokered private placement of 785,477 units at a price of $ 9.60 per unit for gross proceeds of $ 7,540,580 . Each unit is comprised of one common share and one common share purchase warrant; each warrant entitles the holder to acquire one additional common share for a period of 5 years at an exercise price of $ 12.60 . $ 607,170 of the proceeds was allocated to the warrants. ThinkEquity LLC acted as sole placement agent for the private placement. In connection with the private placement, ThinkEquity received a cash commission of $ 754,058 , 78,548 broker warrants and expense reimbursement of $ 131,560 . The broker’s warrants have the same terms as the warrants issued under the private placement. The broker’s warrants were valued at $ 858,429 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 2.45 %, an expected life of 5 years, annualized volatility of 134.66 % and a dividend rate of 0 %). The Company also incurred filing and other expenses of $ 158,777 in connection with the private placement. During the year ended September 30, 2021, the Company: a) Issued 19,271 common shares of the Company with a fair value of $ 54,958 pursuant to service agreements. b) Issued 416,666 common shares of the Company with a value of $ 2,468,750 pursuant to a property acquisition agreement. Share-based payments Stock options The Company has a stock option plan (the “Plan”) in place under which it is authorized to grant options to executive officers and directors, employees and consultants. Pursuant to the Plan, the Company may issue aggregate stock options totaling up to 10 % of the issued and outstanding common stock of the Company. Further, the Plan calls for the exercise price of each option to be equal to the market price of the Company’s stock as calculated on the date of grant. The options can be granted for a maximum term of 10 years and vest at the discretion of the Board of Directors at the time of grant. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 10. EQUITY Share-based payments Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Price Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Granted 55,000 10.51 Balance, June 30, 2022 92,917 $ 15.00 Exercisable at June 30, 2022 92,917 $ 15.00 Weighted average fair value of options granted $ 11.40 (2021 - $ nil ) The aggregate intrinsic value of options outstanding and exercisable as at June 30, 2022 was $ nil (2021 - $ nil ). The options outstanding as of June 30, 2022 equalled 92,917 shares, and have exercise prices in the range of $ 2.40 to $ 23.40 and 7.88 years. The weighted average fair value of options granted during the nine months ended June 30, 2022 was $ 11.40 . There were no options granted during the year ended September 30, 2021. During the nine month periods ended June 30, 2022 and 2021, the Company recognized share-based payment expense of $ 604,861 and $ 2,401 , respectively, for the portion of stock options that vested during the period. The following weighted average assumptions were used for the Black-Scholes valuation of stock options granted: SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2022 2021 Risk-free interest rate 1.50 % - Expected life of options 10 Years - Expected annualized volatility 96.56 % - Dividend rate Nil - As at June 30, 2022, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 21.90 December 4, 2027 5,000 $ 13.14 November 1, 2028 5,000 $ 2.19 March 16, 2030 55,000 $ 10.51 October 6, 2031 92,917 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 10. EQUITY Warrants Warrants are measured at fair value on the date of the grant as determined using the Black-Scholes option pricing model. Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Average Price Balance, September 30, 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42 Granted 888,763 12.91 Balance, June 30, 2022 1,097,096 $ 12.12 As at June 30, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096 22,059 202,009 152,869 The following weighted average assumptions were used for the Black-Scholes valuation of warrants as at June 30, 2022 and November 4, 2021: SCHEDULE OF VALUATION OF WARRANTS June 30, November 4, Risk-free interest rate 3.10 % 0.98 % Expected life of options 1.25 2 Expected annualized volatility 137.67 % 153,02 % Dividend rate Nil Nil Weighted average fair value of options granted $ 2.88 $ 11.45 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED)	10. EQUITY Common stock The Company has authorized an unlimited number of common shares with no par value. At September 30, 2021 and 2020, the Company had 1,103,010 and 667,073 a) 19,271 common shares of the Company with a fair value of $ 54,958 pursuant to service agreements. b) 416,666 common shares of the Company with a value of $ 2,468,750 pursuant to a property acquisition agreement (Note 5). There were no common shares issued during the year ended September 30, 2020. Share-based payments Stock options The Company has a stock option plan (the “Plan”) in place under which it is authorized to grant options to executive officers and directors, employees and consultants. Pursuant to the Plan, the Company may issue aggregate stock options totaling up to 10 % of the issued and outstanding common stock of the Company. Further, the Plan calls for the exercise price of each option to be equal to the market price of the Company’s stock as calculated on the date of grant. The options can be granted for a maximum term of 10 years and vest at the discretion of the Board of Directors at the time of grant. Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Balance, September 30, 2019 42,336 $ 21.58 Granted 5,000 2.23 Cancelled (8,333 ) 22.32 Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Exercisable at September 30, 2021 35,417 $ 20.72 Weighted average fair value of options granted during the year $ nil (2020 - $ 1.69 ) The aggregate intrinsic value of options outstanding and exercisable as at September 30, 2021 was $ nil (2020 - $ nil ). PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 10. EQUITY Share-based payments The options outstanding as of September 30, 2021 equalled 37,917 shares, and have exercise prices in the range of $ 2.36 to $ 23.55 and a weighted average remaining contractual life of 6.60 years. The weighted average fair value of options granted during the year ended September 30, 2020 was $ 1.69 . There were no options granted during the year ended September 30, 2021. During the years ended September 30, 2021 and 2020, the Company recognized share-based payment expense of $ 2,870 and $ 4,175 , respectively, for the portion of stock options that vested during the year. The following weighted average assumptions were used for the Black-Scholes valuation of stock options granted: SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2021 2020 Risk-free interest rate - 0.78 % Expected life of options - 10 Years Expected annualized volatility - 120 % Dividend rate - Nil As at September 30, 2021, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 23.55 December 4, 2027 5,000 $ 14.13 November 1, 2028 5,000 $ 2.36 March 16, 2030 37,917 Warrants Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Balance, September 30, 2019 and 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42 The 208,333 warrants outstanding at September 30, 2021 have an exercise price of $ 9.42 and expire on September 30, 2031. As at June 30, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020

LOSS PER SHARE

LOSS PER SHARE	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
LOSS PER SHARE	11. LOSS PER SHARE The calculation of basic and diluted loss per share for the six month periods ended March 31, 2022 and 2021 was based on the losses attributable to common shareholders. The following table sets forth the computation of basic and diluted loss per share: SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2022 2021 Net loss $ (909,116 ) $ (307,356 ) Weighted average common shares outstanding 1,151,301 675,062 Basic and diluted loss per share $ (0.79 ) $ (0.46 ) As of March 31, 2022, $ 80,000 100,000 11,111 92,917 39,003 1,097,096 80,087	11. LOSS PER SHARE The calculation of basic and diluted loss per share for the nine month periods ended June 30, 2022 and 2021 was based on the losses attributable to common shareholders. The following table sets forth the computation of basic and diluted loss per share: SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2022 2021 Net loss $ (1,797,785 ) $ (460,316 ) Weighted average common shares outstanding 1,411,734 676,474 Basic and diluted loss per share $ (1.27 ) $ (0.68 ) As of June 30, 2022, $ 77,600 (CAD$ 100,000 ) of convertible debentures convertible into 11,111 common shares, 92,917 (2021 - 39,003 ) stock options and 1,097,096 (2021 - 80,087 ) warrants were excluded from the diluted weighted average number of common shares calculation as their effect would have been anti-dilutive.	11. LOSS PER SHARE The calculation of basic and diluted loss per share for the years ended September 30, 2021 and 2020 was based on the losses attributable to common shareholders. The following table sets forth the computation of basic and diluted loss per share: SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2021 2020 Net loss $ (1,253,242 ) $ (1,253,531 ) Weighted average common shares outstanding 678,958 667,069 Basic and diluted loss per share $ (1.84 ) $ (1.88 ) As of September 30, 2021, $ 78,500 (CAD$ 100,000 ) of convertible debentures convertible into 11,111 common shares, 37,917 (2020 - 39,003 ) stock options and 208,333 (2020 - 80,087 ) warrants were excluded from the diluted weighted average number of common shares calculation as their effect would have been anti-dilutive.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	12. INCOME TAXES A reconciliation of income taxes at statutory rates with the reported taxes is as follows: SCHEDULE OF RECONCILIATION OF INCOME TAX 2021 2020 Loss before income taxes $ (1,253,242 ) $ (1,253,531 ) Expected income tax recovery at statutory rates $ (338,000 ) $ (338,000 ) Change in statutory, foreign tax, foreign exchange rates and other (53,000 ) 50,000 Permanent differences 1,000 2,000 Adjustment to prior years provision versus statutory tax returns (11,000 ) (13,000 ) Unrecognized temporary differences 401,000 299,000 Deferred income tax recovery $ - $ - The significant components of the Company’s deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 Non-capital losses available for future periods $ 780,000 $ 571,000 Property and equipment (9,000 ) (233,000 ) Financing fees 38,000 70,000 Total gross deferred tax assets 809,000 408,000 Unrecognized deferred income tax assets (809,000 ) (408,000 ) Net deferred income tax assets $ - $ - The significant components of the Company’s temporary differences include financing fees and non-capital losses available for future periods. For the years ended September 30, 2021 and 2020, the Company had financing fees of $ 140,000 and $ 254,000 , respectively, with expiration dates between 2041 and 2043 . The Company also had non-capital losses available for future periods in both Canada and the United States. For the years ended September 30, 2021 and 2020, the Canada losses totaled $ 2,707,000 and $ 1,130,000 respectively, with expiration dates ranging from 2037 to 2041 and 2037 to 2040 , respectively. The United States non-capital losses for the years ended September 30, 2021 and 2020 totaled $ 213,000 and $ 106,000 , respectively, and had no expiration dates PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020

SEGMENTED INFORMATION

SEGMENTED INFORMATION	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Segment Reporting [Abstract]
SEGMENTED INFORMATION	12. SEGMENTED INFORMATION Operating segments The Company operates in a single reportable segment – the acquisition, development and production of oil and gas properties in the United States.	12. SEGMENTED INFORMATION Operating segments The Company operates in a single reportable segment – the acquisition, development and production of oil and gas properties in the United States.	13. SEGMENTED INFORMATION Operating segments The Company operates in a single reportable segment – the acquisition, development and production of oil and gas properties in the United States.

EVENTS AFTER THE REPORTING PERI

EVENTS AFTER THE REPORTING PERIOD	12 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
EVENTS AFTER THE REPORTING PERIOD	14. EVENTS AFTER THE REPORTING PERIOD Subsequent to September 30, 2021, The Company i) Completed a non-brokered private placement of 44,117 units at a price of $ 13.20 (CAD$ 16.20 ) per unit for gross proceeds of $ 571,760 (CAD$ 714,700 ). Each unit is comprised of one common share and one half of one share purchase warrant; each whole warrant entitles the holder to acquire one additional common share for a period of 24 months at an exercise price of $ 25.80 (CAD$ 32.40 ). $ 137,946 of the proceeds was allocated to the warrants. The Company paid $ 34,733 and issued 2,680 agent’s warrants as a finders’ fee. The finder’s warrants have the same terms as the warrants issued under the private placement. The finder’s warrants were valued at $ 24,543 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 0.98 %, an expected life of 2 years, annualized volatility of 153.02 % and a dividend rate of 0 %). The Company also incurred filing and other expenses of $ 800 in connection with the private placement. ii) Completed a brokered private placement of 785,477 units at a price of $ 9.60 per unit for gross proceeds of $ 7,540,580 . Each unit is comprised of one common share and one common share purchase warrant; each warrant entitles the holder to acquire one additional common share for a period of 5 years at an exercise price of $ 12.60 . $ 607,170 of the proceeds was allocated to the warrants. ThinkEquity LLC acted as sole placement agent for the private placement. In connection with the private placement, ThinkEquity received a cash commission of $ 754,058 , broker warrants of 78,548 and expense reimbursement of $ 131,560 . The broker’s warrants have the same terms as the warrants issued under the private placement. The broker’s warrants were valued at $ 858,429 using the Black-Scholes option pricing model (assuming a risk-free interest rate of 2.45 %, an expected life of 5 years, annualized volatility of 134.66 % and a dividend rate of 0 %). The Company also incurred filing and other expenses of $ 140,475 in connection with the private placement. iii) Granted stock options to directors and consultants of the Company to purchase 55,000 common shares at an exercise price of $ 11.40 (CAD$ 14.40 ) per share for a period of 10 years. iv) Amended the employment with the CEO of the Company for an annual base salary of $ 250,000 , with no specified term. The CEO is also eligible on an annual basis for a cash bonus of up to 100 % of annual salary. The employment agreement may be terminated with a termination payment equal to three years of base salary and a bonus equal to 20 % of the annual base salary. v) Entered into an employment with the CFO of the Company for an annual base salary of $ 50,000 , with no specified term. The CFO is also eligible on an annual basis for a cash bonus of up to 100 % of annual salary. The employment agreement may be terminated with a termination payment equal to two months of base salary. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020

SUPPLEMENTAL INFORMATION ON OIL

SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED)	12 Months Ended
	Sep. 30, 2021
Supplemental Information On Oil And Gas Operations
SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED)	SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED) Supplemental unaudited information regarding Permex’s oil and gas activities is presented in this note. All of Permex’s reserves are located within the U.S. Costs Incurred in Oil and Gas Producing Activities SCHEDULE OF COST INCURRED IN OIL AND GAS PRODUCING ACTIVITIES 12 Months Ended 12 Months Ended September 30, 2021 September 30, 2020 Acquisition of proved properties $ 3,699,215 $ — Acquisition of unproved properties — — Development costs 9,403 254,299 Exploration costs — — Total costs incurred $ 3,708,618 $ 254,299 Results of Operations from Oil and Gas Producing Activities SCHEDULE OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES 12 Months Ended 12 Months Ended September 30, 2021 September 30, 2020 Oil and gas revenues $ 46,703 $ 682,786 Production costs (59,671 ) (557,624 ) Exploration expenses — — Depletion, depreciation and amortization (52,439 ) (28,660 ) Impairment of oil and gas properties — — Result of oil and gas producing operations before income taxes (65,407 ) 96,502 Provision for income taxes — — Results of oil and gas producing activities $ (65,407 ) $ 96,502 Proved Reserves The Company’s proved oil and natural gas reserves have been estimated by the certified independent engineering firm, MKM Engineering. Proved reserves are the estimated quantities that geologic and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic and operating conditions. Proved developed reserves are the quantities expected to be recovered through existing wells with existing equipment and operating methods when the estimates were made. Due to the inherent uncertainties and the limited nature of reservoir data, such estimates are subject to change as additional information becomes available. The reserves actually recovered and the timing of production of these reserves may be substantially different from the original estimate. Revisions result primarily from new information obtained from development drilling and production history; acquisitions of oil and natural gas properties; and changes in economic factors. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 15. SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED) Our proved reserves are summarized in the table below: SCHEDULE OF PROVED RESERVES Oil (Barrels) Natural Gas (Mcf) BOE (Barrels) Proved developed and undeveloped reserves: September 30, 2019 3,992,240 498,180 4,075,270 Revisions(1) 440,160 251,196 482,026 Discoveries and extensions — — — Sale of reserves(2) (709,800 ) — (709,800 ) Production (16,240 ) (9,196 ) (17,773 ) September 30, 2020 3,706,360 740,180 3,829,723 Revisions (88,263 ) 38,640 (81,823 ) Purchase of proved reserves(3) 5,408,560 2,859,590 5,885,158 Sale reserves(4) (2,826,290 ) (618,650 ) (2,929,398 ) Production (947 ) (1,410 ) (1,182 ) September 30, 2021 6,199,420 3,018,350 6,702,478 Proved developed reserves: September 30, 2019 921,410 104,000 938,743 September 30, 2020 549,390 82,430 563,128 September 30, 2021 587,450 411,910 656,102 Proved undeveloped reserves: September 30, 2019 3,070,830 394,180 3,136,527 September 30, 2020 3,156,970 657,750 3,266,595 September 30, 2021 5,611,970 2,606,440 6,046,377 (1) Revisions in 2020 included 120,850 bbls additional proved undeveloped reserves due to economic conditions and approximately 373,000 bbls of oil and 242,000 mcf of natural gas added to the ODC Gaines County property due to two additional productive zones evaluated and included in proved reserves. (2) During 2020, the Company sold their McMurtry-Loving property. (3) Revisions in 2021 included 120,850 bbls in proved undeveloped reserves being classified as probable in the 2021 reserve report, net of other immaterial revisions in several properties. (4) During 2021, the Company purchased 1,246 net acres in Martin County, Texas. (5) During 2021, the Company sold ODC and Taylor properties. Standardized Measure of Discounted Future Net Cash Flows Relating to Proved Oil and Gas Reserves The following information is based on the Company’s best estimate of the required data for the Standardized Measure of Discounted Future Net Cash Flows as of September 30, 2021 and September 30, 2020 in accordance with ASC 932, “Extractive Activities – Oil and Gas” which requires the use of a 10% discount rate. This information is not the fair market value, nor does it represent the expected present value of future cash flows of the Company’s proved oil and gas reserves. Future cash inflows for the years ended September 30, 2021 and September 30, 2020 were estimated as specified by the SEC through calculation of an average price based on the 12-month unweighted arithmetic average of the first-day-of-the-month price for the period from October through September during each respective fiscal year. The resulting net cash flow are reduced to present value by applying a 10% discount factor. SCHEDULE OF NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES 12 Months Ended September 30, 2021 September 30, 2020 Future cash inflows $ 355,958,000 $ 150,694,000 Future production costs(1) (69,683,000 ) (50,268,000 ) Future development costs (71,700,000 ) (26,263,000 ) Future income tax expenses (57,206,000 ) (19,689,000 ) Future net cash flows 157,369,000 54,474,000 10% annual discount for estimated timing of cash flows (84,100,000 ) (33,677,000 ) Standardized measure of discounted future net cash flows at the end of the fiscal year $ 73,269,000 $ 20,797,000 (1) Production costs include crude oil and natural gas operations expense, production ad valorem taxes, transportation costs and G&A expense supporting the Company’s crude oil and natural gas operations. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 15. SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED) Average hydrocarbon prices are set forth in the table below. SCHEDULE OF AVERAGE HYDROCARBON PRICES Average Price Natural Crude Oil (Bbl) Gas (Mcf) Year ended September 30, 2019 (1) $ 53.60 $ 2.51 Year ended September 30, 2020 (1) $ 40.30 $ 1.77 Year ended September 30, 2021 (1) $ 55.98 $ 2.95 (1) Average prices were based on 12-month unweighted arithmetic average of the first-day-of-the-month prices for the period from October through September during each respective fiscal year. Future production and development costs, which include dismantlement and restoration expense, are computed by estimating the expenditures to be incurred in developing and producing the Company’s proved crude oil and natural gas reserves at the end of the year, based on year-end costs, and assuming continuation of existing economic conditions. Sources of Changes in Discounted Future Net Cash Flows Principal changes in the aggregate standardized measure of discounted future net cash flows attributable to the Company’s proved crude oil and natural gas reserves, as required by ASC 932, at fiscal year-end are set forth in the table below. SCHEDULE OF CHANGES IN DISCOUNTED FUTURE NET CASH FLOWS 12 Months Ended September 30, 2021 September 30, 2020 Standardized measure of discounted future net cash flows at the beginning of the year $ 20,797,000 $ 40,833,000 Extensions, discoveries and improved recovery, less related costs — — Sales of minerals in place (62,682,000 ) (7,509,000 ) Purchase of minerals in place 125,927,000 — Revisions of previous quantity estimates (1,751,000 ) 5,099,000 Net changes in prices and production costs 32,573,000 (21,863,000 ) Accretion of discount 1,498,000 3,416,000 Sales of oil produced, net of production costs 13,000 (125,000 ) Changes in future development costs (21,339,000 ) (919,000 ) Changes in timing of future production (2,580,000 ) (5,562,000 ) Net changes in income taxes (19,187,000 ) 7,427,000 Standardized measure of discounted future net cash flows at the end of the year $ 73,269,000 $ 20,797,000

ASSET RETIREMENT

ASSET RETIREMENT	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
ASSET RETIREMENT	6. ASSET RETIREMENT The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS March 31, 2022 September 30, 2021 Asset retirement obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 16,476 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 569,070 $ 552,594 During the year ended September 30, 2021, the Company derecognized $ 125,511 112,317 13,194 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED)	6. ASSET RETIREMENT OBLIGATIONS The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS June 30, September 30, Decommissioning obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 24,714 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 577,308 $ 552,594 During the year ended September 30, 2021, the Company derecognized $ 125,511 in decommissioning obligations as a result of an assignment of certain oil and gas interests. The decommissioning obligations were offset by the decommissioning provision of $ 112,317 and a gain of $ 13,194 was netted against the loss realized from the sale of properties. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED)	6. ASSET RETIREMENT OBLIGATIONS The total future asset retirement obligations are based on the Company’s net ownership in wells and facilities, estimated costs to reclaim and abandon the wells and facilities, and the estimated timing of the costs to be incurred in future periods. Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS 2021 2020 Asset retirement obligations, beginning of the year $ 271,402 $ 1,942,075 Obligations acquired 258,726 - Obligations derecognized (125,511 ) (116,192 ) Change in estimates 117,921 - Accretion expense 19,907 49,700 Reclassification to liabilities held for sale - (1,591,097 ) Foreign exchange movement 10,149 (13,084 ) $ 552,594 $ 271,402 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 6. ASSET RETIREMENT OBLIGATIONS During the year ended September 30, 2021, the Company derecognized $ 125,511 (2020 - $ 116,192 ) in asset retirement obligations as a result of an assignment of certain oil and gas interests. The asset retirement obligations were offset by the asset retirement provision of $ 112,317 (2020 - $ 105,777 ) and a gain of $ 13,194 was netted against the loss realized from the sale of properties (2020 - a gain of $ 10,415 realized).

SIGNIFICANT ACCOUNTING POLICI_2

SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s amended Form S-1 for the fiscal year ended September 30, 2021 filed with the SEC on February 10, 2023. There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the fiscal 2021 financial statements, except as noted below.	Basis of presentation The unaudited condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“US GAAP”) and applicable rules and regulations of the United States Securities and Exchange Commission (“SEC”) regarding interim financial reporting. Certain information and note disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, the condensed consolidated financial statements include all adjustments necessary, which are of a normal and recurring nature, for the fair presentation of the Company’s financial position and of the results of operations and cash flows for the periods presented. These interim results are not necessarily indicative of the results to be expected for the fiscal year ending September 30, 2022 or for any other interim period or for any other future fiscal year. These condensed consolidated financial statements should be read in conjunction with the Company’s audited financial statements and notes thereto included in the Company’s amended Form S-1 for the fiscal year ended September 30, 2021 filed with the SEC on February 10, 2023. There have been no material changes in the Company’s significant accounting policies from those that were disclosed in the fiscal 2021 financial statements, except as noted below.	Basis of presentation These consolidated financial statements include the accounts of the Company and its wholly owned subsidiary, Permex Petroleum US Corporation and have been prepared in accordance with generally accepted accounting principles in the United States of America (“US GAAP”). These consolidated financial statements are presented in United States dollars (“USD”). The functional currency of the Company is the Canadian dollar (“CAD”). The functional currency for the subsidiary of the Company is the United States dollar (“USD”).
Principles of Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 2. Significant Accounting Policies (cont’d…)	Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.	Principles of Consolidation The accompanying consolidated financial statements include the assets, liabilities, revenue and expenses of all wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates.	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates. PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 2. Significant Accounting Policies	Use of Estimates The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amount of assets and liabilities at the date of the financial statements and the reported amount of revenue and expenses during the reporting period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. Significant estimates have been used by management in conjunction with the following: (i) amounts subject to allowances and returns; (ii) the fair value of assets when determining the existence of impairment factors and the amount of impairment, if any; (iii) the costs of site restoration when determining asset retirement obligations; (iv) income taxes receivable or payable; (v) the useful lives of assets for the purposes of depreciation; (vi) petroleum and natural gas reserves; and (vii) share-based payments. Management evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors, including the current economic environment, and makes adjustments when facts and circumstances dictate. These estimates are based on information available as of the date of the financial statements; therefore, actual results could differ from those estimates.
Cash			Cash The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash and cash equivalents. Cash and cash equivalents are recorded at cost, which approximates fair value. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. Significant Accounting Policies
Trade and other receivables			Trade and other receivables Trade and other receivables are stated at net realizable value. The majority of customers are not extended credit and therefore time to maturity for receivables is short. On a periodic basis, management evaluates its accounts receivable and determines whether to provide an allowance or if any accounts should be written off based on a past history of write-offs, collections, and current credit conditions. A receivable is considered past due if the Company has not received payments based on agreed-upon terms. Given the nature and balances of the Company’s receivables the Company has no material loss allowance as at September 30, 2021 and September 30, 2020.
Property and equipment			Property and equipment The Company follows the successful efforts method of accounting for its oil and gas properties. All costs for development wells along with related acquisition costs, the costs of drilling development wells, and related asset retirement obligation (ARO) assets are capitalized. Exploration costs, such as exploratory geological and geophysical costs, and costs associated with non-productive exploratory wells, delay rentals and exploration overhead are expensed. Costs of drilling exploratory wells are capitalized pending determination of whether the wells found proved reserves. Costs of wells that are assigned proved reserves remain capitalized. Costs also are capitalized for exploratory wells that have found crude oil and natural gas reserves even if the reserves cannot be classified as proved when the drilling is completed, provided the exploratory well has found a sufficient quantity of reserves to justify its completion as a producing well and the Company is making sufficient progress assessing the reserves and the economic and operating viability of the project. The Company groups its oil and gas properties with a common geological structure or stratigraphic condition (“common operating field”) for purposes of computing depletion expenses, assessing proved property impairments and accounting for asset dispositions. Capitalized costs of proved oil and gas properties are depleted by individual field using a unit-of-production method based on proved and probable developed reserves. Proved reserves are estimated using reserve engineer reports and represent the estimated quantities of crude oil, natural gas and natural gas liquids, which geological, geophysical and engineering data demonstrate with a specified degree of certainty to be recoverable in future years from known reservoirs and which are considered commercially producible. Proved oil and natural gas properties are assessed for possible impairment by comparing their carrying values with their associated undiscounted, future net cash flows. Events that can trigger assessments for possible impairments include write-downs of proved reserves based on field performance, significant decreases in the market value of an asset (including changes to the commodity price forecast or carbon costs), significant change in the extent or manner of use of or a physical change in an asset, and a more-likely-than-not expectation that a long-lived asset or asset group will be sold or otherwise disposed of significantly sooner than the end of its previously estimated useful life. Impaired assets are written down to their estimated fair values, generally their discounted, future net cash flows. For proved oil and natural gas properties, the Company performs impairment reviews on a field basis, annually or as appropriate. Other corporate equipment consist primarily of leasehold improvements and computer equipment and are stated at cost less accumulated depreciation. The capitalized costs are generally depreciated on a straight line basis over their estimated useful lives as follows: SCHEDULE OF ESTIMATED USEFUL LIVES Computer equipment 2 years Leasehold improvements 5 years PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES Property and equipment For property dispositions, measurement is at fair value, unless the transaction lacks commercial substance or fair value cannot be reliably measured. Where the exchange is measured at fair value, a gain or loss is recognized in net income. Any deferred consideration recorded on property dispositions are recognized as revenue in the statement of loss and comprehensive loss over the reserve life. Gains or losses are recorded for sales or dispositions of oil and gas properties which constitute an entire common operating field or which result in a significant alteration of the common operating field’s depletion rate. These gains and losses are classified as asset dispositions in the accompanying consolidated statements of loss and comprehensive loss. Partial common operating field sales or dispositions deemed not to significantly alter the depletion rates are generally accounted for as adjustments to capitalized costs with no gain or loss recognized.
Impairment of long-lived assets			Impairment of long-lived assets The Company assesses long-lived assets for impairment in accordance with the provisions of Financial Accounting Standards Board ASC 360, Property, Plant and Equipment
Asset retirement obligations			Asset retirement obligations The Company’s activities give rise to dismantling, decommissioning, and site disturbance remediation activities. A provision is made for the estimated cost of site restoration and capitalized in the relevant asset category. Asset retirement obligations are measured at the present value of management’s best estimate of the expenditure required to settle the present obligation at the reporting date. Changes in the present value of the estimated expenditure are reflected as an adjustment to the provision and the relevant asset. The unwinding of the discount on the asset retirement obligations is recognized as an accretion expense. Actual costs incurred upon settlement of the asset retirement obligations are charged against the provision to the extent the provision was recognized. Asset retirement obligations require the use of management’s best estimates of future remediation expenditures, expected timing of expenditures and future inflation rates. A provision is recognized if, as a result of a past event, the Company has a present legal or constructive obligation that can be estimated reliably, and it is probable that an outflow of economic benefits will be required to settle the obligation. Provisions are determined by discounting the expected future cash flows at a pre-tax rate that reflects current market assessments of the time value of money and the risk specific to the liability. Provisions are not recognized for future operating losses. Provisions for retirement associated with the Company’s oil and gas operations are based on current legal and constructive requirements, technology, price levels and expected plans for remediation. Actual costs and cash outflows may differ from estimates due to changes in laws and regulations, public expectations, prices, discovery and analysis of site conditions and changes in clean up technology. Estimates are made using internal and external information. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES
Fair value measurement			Fair value measurement Fair value accounting is applied for all assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis (at least annually). Fair value is defined as the exchange price that would be received for an asset or an exit price that would be paid to transfer a liability in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company follows the established framework for measuring fair value and expands disclosures about fair value measurements. The Company categorizes its assets and liabilities measured at fair value into a three-level hierarchy based on the priority of the inputs to the valuation technique used to determine fair value. The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). If the inputs used in the determination of the fair value measurement fall within different levels of the hierarchy, the categorization is based on the lowest level input that is significant to the fair value measurement. Assets and liabilities valued at fair value are categorized based on the inputs to the valuation techniques as follows: Level 1 Level 2 Level 3 The financial statements as of and for the years ended September 30, 2021 and 2020, do not include any recurring or nonrecurring fair value measurements relating to assets or liabilities. Subsequent to initial recognition, the Company may re-measure the carrying value of assets and liabilities measured on a nonrecurring basis to fair value. Adjustments to fair value usually result when certain assets are impaired. Such assets are written down from their carrying amounts to their fair value. Professional standards allow entities the irrevocable option to elect to measure certain financial instruments and other items at fair value for the initial and subsequent measurement on an instrument-by-instrument basis. The Company has not elected to measure any existing financial instruments at fair value. However, it may elect to measure newly acquired financial instruments at fair value in the future. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES
Leases			Leases At inception of a contract, the Company assesses whether a contract is, or contains a lease based on whether the contract conveys the right to control the use of an identified asset for a period in exchange for consideration. The Company recognizes a right-of-use asset and a lease obligation at the lease commencement date. The right-of-use asset is initially measured based on the initial amount of the lease obligation adjusted for any lease payments made at or before the commencement date. The lease obligation is initially measured at the present value of the lease payments that are not paid at the commencement date, discounted using the interest rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. Generally, the Company uses its incremental borrowing rate as the discount rate. Variable lease payments that do not depend on an index or rate are not included in the measurement of the lease obligation. The lease obligation is subsequently measured at amortized cost using the effective interest rate method.
Share capital			Share capital The Company records proceeds from the issuance of its common shares as equity. Incremental costs directly attributable to the issue of new common shares are shown in equity as a deduction, net of tax, from the proceeds. Common shares issued for consideration other than cash are valued based on their market value at the date that the shares are issued. Warrants issued with private placement units are classified as equity and initially recorded at fair value with no subsequent remeasurement. Proceeds from the issuance of private placement units are allocated between the private placement warrants and common shares on a relative fair value basis.
Earnings (loss) per share			Earnings (loss) per share Basic earnings (loss) per share (“EPS”) is calculated by dividing the EPS attributable to common shareholders by the weighted average number of common shares outstanding in the period. The diluted EPS reflects all dilutive potential common share equivalents, in the weighted average number of common shares outstanding during the period, if dilutive. All of the outstanding convertible securities, stock options and warrants were anti-dilutive for the years ended September 30, 2021 and 2020. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES
Share-based payments			Share-based payments The Company issues stock options and other share-based compensation to directors, employees and others service providers. Equity awards including stock options and share purchase warrants are measured at grant date at the fair value of the instruments issued and amortized over the vesting periods using a graded approach. The amount recognized as an expense is adjusted to reflect the actual number of share options that are expected to vest. Each tranche in an award is considered a separate grant with a different vesting date and fair value and is accounted for on that basis. The offset to the recorded cost is to share-based payments reserve. The number of options expected to vest is reviewed and adjusted at the end of each reporting period such that the amount ultimately recognized as an expense is based on the number of options that eventually vest. Consideration received on the exercise of stock options is recorded as share capital and the related share-based payments reserve is transferred to share capital. The fair value of the equity awards is determined using the Black-Scholes option pricing model. Measurement inputs include share price on measurement date, exercise price of the instrument, expected volatility (based on weighted average historic volatility), weighted average expected life of the instruments (based on historical experience), expected dividends, and the risk-free interest rate (based on government bonds).
Revenue			Revenue In accordance with ASC 606, Revenue from Contracts with Customers, For natural gas, this is generally at the time product enters the pipeline. For crude oil, this is generally at the time the product reaches a trucking terminal. For natural gas liquids, this is generally at the time the product reaches a gas plant. Revenue is measured net of discounts, customs duties, royalties and withholding tax. Royalty income represents net revenue interests from the sale of crude oil and natural gas and is recognized upon the operators of the properties completing the sale of crude oil and natural gas. The Company records revenue in the month production is delivered to the purchaser. However, production statements for oil and gas sales may not be received until the following month end after the products are purchased, and as a result, the Company is required to estimate the amount of revenue to be received. The Company records the differences between its estimates and the actual amounts received for revenue in the month that payment is received from the customer. Identified differences between the Company’s revenue estimates and actual revenue received historically have not been significant. The Company believes that the pricing provisions of its oil, natural gas and natural gas liquids contracts are customary in the industry. To the extent actual volumes and prices of oil and natural gas sales are unavailable for a given reporting period because of timing or information not received from third parties, the revenue related to sales volumes and prices for those good sold are estimated and recorded. The Company does not have any contract assets or liabilities, or capitalized contract costs. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES
Foreign Currency	Foreign Currency These consolidated financial statements are presented in United States dollars (“U.S. dollar”). The functional currency of the Company and the subsidiary of the Company is the U.S. dollar. The Company changed its functional currency from Canadian dollars (“CAD”) to the U.S. dollars as at October 1, 2021. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. Management determined that the Company’s functional currency had changed based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity financings and the primary economic environment are now in the U.S. as well as the expectation of the majority of the Company’s expenses will be denominated in U.S. dollars. Moreover, the Company’s place of business and management are now located in the United States.	Foreign Currency These consolidated financial statements are presented in United States dollars (“U.S. dollar”). The functional currency of the Company and the subsidiary of the Company is the U.S. dollar. The Company changed its functional currency from Canadian dollars (“CAD”) to the U.S. dollars as at October 1, 2021. The change in functional currency from Canadian dollars to U.S. dollars is accounted for prospectively from October 1, 2021. Management determined that the Company’s functional currency had changed based on the assessment related to significant changes of the Company’s economic facts and circumstances. These significant changes included the fact that the Company’s equity financings and the primary economic environment are now in the U.S. as well as the expectation of the majority of the Company’s expenses will be denominated in U.S. dollars. Moreover, the Company’s place of business and management are now located in the United States.	Foreign currencies Foreign currency transactions are translated into the functional currency using exchange rates prevailing at the dates of the transactions. At the end of each reporting period, monetary assets and liabilities that are denominated in foreign currencies are translated at the rates prevailing at that date. Non-monetary assets and liabilities are translated using the historical rate on the date of the transaction. Non-monetary assets and liabilities that are stated at fair value are translated using the historical rate on the date that the fair value was determined. All gains and losses on translation of these foreign currency transactions are charged to profit or loss. Financial statements of the parent company prepared under their functional currencies are translated into United States dollars for consolidation purposes as follows: assets and liabilities are translated using the exchange rate prevailing at the reporting date; revenue and expenses are translated using the average rates of exchange for the period. Gains and losses resulting from translation adjustments are recorded to other comprehensive income (loss) and accumulated as a separate component of shareholders’ equity, described as foreign currency translation adjustment.
Income taxes			Income taxes Current taxes receivable or payable are estimated on taxable income or loss for the current year at the statutory tax rates enacted or substantively enacted at the reporting date. Deferred income tax is recognized on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred income tax assets and liabilities are measured at the tax rates that have been enacted or substantially enacted at the end of the reporting period and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets also result from unused loss carry forwards, resource related pools and other deductions. At the end of each reporting year the Company reassesses unrecognized deferred tax assets. Deferred income tax assets are recognized for unused tax losses, tax credits and deductible temporary differences, only to the extent that it is probable that future taxable profit will be available against which they can be utilized. Deferred income tax assets and deferred income tax liabilities are offset if a legally enforceable right exists to offset current tax assets against current tax liabilities and the deferred tax assets and liabilities relate to income taxes levied by the same taxation authority. PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 2. SIGNIFICANT ACCOUNTING POLICIES
Recently adopted accounting pronouncement	Recently adopted accounting pronouncement None.	Recently adopted accounting pronouncement None.	New accounting standards In August 2020, the FASB issued ASU No. 2020-06, Debt — Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging — Contracts in Entity’s Own Equity (Subtopic 815-40) – Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity In June 2016, the FASB issued ASU No. 2016-13 (Topic 326), Financial Instruments — Credit Losses – Measurement of Credit Losses on Financial Instruments Financial Instruments — Credit Losses (Topic 326), Derivatives and Hedging (Topic 815), and Leases (Topic 842)

SIGNIFICANT ACCOUNTING POLICI_3

SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
SCHEDULE OF ESTIMATED USEFUL LIVES	SCHEDULE OF ESTIMATED USEFUL LIVES Computer equipment 2 years Leasehold improvements 5 years

IMMATERIAL CORRECTION TO PRIO_2

IMMATERIAL CORRECTION TO PRIOR PERIODS (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS	SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Previously reported Adjustments As Revised Balance as March 31, 2022 Previously reported Adjustments As Revised Cash $ 6,727,758 $ - $ 6,727,758 Trade and other receivables 146,403 146,403 Prepaid expenses and deposits 81,236 81,236 Reclamation deposits 145,000 145,000 Property and equipment, net 7,967,249 (1,077,822 )(a) 6,639,233 (129,348 )(b) (120,846 )(c) Right of use asset 49,736 (541 )(c) 49,195 Total assets 15,117,382 (1,328,557 ) 13,788,825 Trade and other payables 581,772 581,772 Amounts due to related party 2,290 2,290 Convertible debentures 80,000 80,000 Lease liability 55,973 55,973 Loan payable 32,000 32,000 Warrant liability - 121,978 (c) 121,978 Asset retirement obligations 1,655,428 (1,074,871 )(a) 569,070 (11,487 )(c) Total liabilities 2,407,463 (964,380 ) 1,443,083 Common stock 14,399,373 (42,838 )(c) 14,356,535 Additional paid-in capital 4,615,869 (129,348 )(a) 4,571,535 222,960 (d) (137,946 )(c) Accumulated other comprehensive income (18,845 ) (108,568 )(c) (127,413 ) Deficit (6,286,478 ) (4,070 )(a) (6,454,915 ) (222,960 )(b) 58,593 (c) Total equity 12,709,919 (364,177 ) 12,345,742 Total liabilities and equity $ 15,117,382 $ (1,328,557 ) $ 13,788,825 Consolidated Statements of Loss and Comprehensive Loss for the three and six months ended March 31, 2022 For the three months ended For the six months ended March 31, 2022 March 31, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised Revenue $ 241,886 - $ 241,886 $ 348,335 $ 348,335 Operating expenses $ (391,241 ) 3,124 $ (388,117 ) $ (1,324,358 ) (478 )(c) $ (1,324,836 ) Other income (expense) $ 4,402 (16,099 )(c) $ (11,697 ) $ 8,314 $ 59,071 (c) $ 67,385 Net Loss $ (144,953 ) (12,975 ) $ (157,928 ) $ (967,709 ) $ 58,593 $ (909,116 ) Foreign currency translation adjustment $ 82,825 $ (82,825 )(c) $ - $ 109,687 $ (109,687 )(c) $ - Comprehensive loss $ (62,128 ) $ (95,800 ) $ (157,928 ) $ (858,022 ) (51,094 ) $ (909,116 ) Loss Per Share- basic and diluted $ (0.12 ) $ (0.01 ) $ (0.13 ) $ (0.84 ) $ 0.05 $ (0.79 ) (a) Adjustment of decommissioning liability (b) Adjustment for correction of warrant fair value (c) Adjustment for functional currency change (d) Adjustment for reclassification of option cancellation PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS SIX MONTHS ENDED MARCH 31, 2022 (UNAUDITED) 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statements of Cash Flows Previously reported Adjustments As Revised For the six months ended March 31, 2022 Previously reported Adjustments As Revised Net loss $ (967,709 ) $ 58,593 $ (909,116 ) Net cash provided by (used in) operating activities $ (231,131 ) $ (40,766 ) $ (271,897 ) Net cash provided by (used in) investing activities $ (90,657 ) $ 438 $ (90,219 ) Net cash provided by (used in) financing activities $ 7,023,740 $ 40,328 $ 7,064,068 Change in cash during the period $ 6,701,952 $ - $ 6,701,952 Cash, beginning of the period $ 25,806 $ - $ 25,806 Cash, end of the period $ 6,727,758 $ - $ 6,727,758	SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Previously reported Adjustments As Revised Balance as June 30, 2022 Previously reported Adjustments As Revised Cash $ 5,366,789 $ - $ 5,366,789 Trade and other receivables 186,740 186,740 Prepaid expenses and deposits 878,119 878,119 Reclamation deposits 145,052 145,052 Property and equipment, net 7,838,520 (1,077,822 )(a) 6,703,910 (129,348 )(b) 72,560 (c) Right of use asset 37,369 153 (c) 37,522 Total assets 14,452,589 (1,134,457 ) 13,318,132 Trade and other payables 1,123,635 1,123,635 Amounts due to related party 8,687 8,687 Convertible debentures 77,600 77,600 Lease liability 42,806 42,806 Warrant liability - 49,140 (c) 49,140 Asset retirement obligations 1,645,171 (1,074,871 )(a) 577,308 7,008 (c) Total liabilities 2,897,899 (1,018,723 ) 1,879,176 Common stock 14,381,071 (42,838 )(c) 14,338,233 Additional paid-in capital 4,616,054 (129,348 )(a) 4,571,720 222,960 (d) (137,946) (c) Accumulated other comprehensive income (394,654 ) 267,241 (c) (127,413 ) Deficit (7,047,781 ) (4,070 )(a) (7,343,584 ) (222,960 )(b) (68,773 )(c) Total equity 11,554,690 (115,734 ) 11,438,956 Total liabilities and equity $ 14,452,589 $ (1,134,457 ) $ 13,318,132 PERMEX PETROLEUM CORPORATION NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS NINE MONTHS ENDED JUNE 30, 2022 (UNAUDITED) 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statements of Loss and Comprehensive Loss for the three and nine months ended June 30, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised For the three months ended For the nine months ended June 30, 2022 June 30, 2022 Previously reported Adjustments As revised Previously reported Adjustments As revised Revenue $ 276,722 - $ 276,722 $ 625,057 $ 625,057 Operating expenses $ (1,053,115 ) $ (194,416 )(c) $ (1,247,531 ) $ (2,371,686 ) $ (200,681 )(c) $ (2,572,367 ) Other income (expense) $ 15,090 67,050 (c) $ 82,140 $ 17,617 $ 131,908 (c) $ 149,525 Net Loss $ (761,303 ) (127,366 ) $ (888,669 ) $ (1,729,012 ) $ (68,773 ) $ (1,797,785 ) Foreign currency translation adjustment $ (375,809 ) $ 375,809 (c) $ - $ (266,122 ) $ 266,122 (c) $ - Comprehensive loss $ (1,137,112 ) $ 248,443 $ (888,669 ) $ (1,995,134 ) 197,349 $ (1,797,785 ) Loss Per Share- basic and diluted $ (0.36 ) $ (0.10 ) $ (0.46 ) $ (1.22 ) $ (0.05 ) $ (1.27 ) (a) Adjustment of decommissioning liability (b) Adjustment for correction of warrant fair value (c) Adjustment for functional currency change (d) Adjustment for reclassification of option cancellation Consolidated Statements of Cash Flows Previously reported Adjustments As Revised For the nine months ended June 30, 2022 Previously reported Adjustments As Revised Net loss $ (1,729,012 ) $ (68,773 ) $ (1,797,785 ) Net cash provided by (used in) operating activities $ (1,420,285 ) $ (54,653 ) $ (1,474,938 ) Net cash provided by (used in) investing activities $ (202,136 ) $ 438 $ (201,698 ) Net cash provided by (used in) financing activities $ 6,963,404 $ 54,215 $ 7,017,619 Change in cash during the period $ 5,340,983 $ - $ 5,340,983 Cash, beginning of the period $ 25,806 $ - $ 25,806 Cash, end of the period $ 5,366,789 $ - $ 5,366,789	SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS Balance as reported on September 30, 2021 Adjustment of asset retirement obligations Adjustment for correction of warrant fair value Adjustment for reclassification of option cancellation Total Adjustments Balance as revised at September 30, 2021 Cash $ 25,806 $ 25,806 Trade and other receivables $ 12,984 $ 12,984 Prepaid expenses and deposits $ 46,151 $ 46,151 Reclamation deposits $ 144,847 $ 144,847 Property and equipment, net $ 7,846,145 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,638,975 Right of use asset $ 72,539 $ 72,539 Total assets $ 8,148,472 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,941,302 Trade and other payables $ 402,979 $ 402,979 Amounts due to related party $ 16,628 $ 16,628 Convertible debentures $ 78,500 $ 78,500 Lease liability $ 78,949 $ 78,949 Loan payable 31,400 $ 31,400 Asset retirement obligations $ 1,627,465 $ (1,074,871 ) $ (1,074,871 ) $ 552,594 Total liabilities $ 2,235,921 $ (1,074,871 ) $ (1,074,871 ) $ 1,161,050 Common stock $ 8,976,747 $ 8,976,747 Additional paid-in capital $ 2,383,105 $ (129,348 ) $ 222,960 $ 93,612 $ 2,476,717 Accumulated other comprehensive loss $ (128,532 ) 1,119 $ 1,119 $ (127,413) Deficit $ (5,318,769 ) $ (4,070 ) (222,960 ) $ (227,030 ) $ (5,545,799) Total equity $ 5,912,551 $ (2,951 ) $ (129,348 ) $ (132,299 ) $ 5,780,252 Total liabilities and equity $ 8,148,472 $ (1,077,822 ) $ (129,348 ) $ (1,207,170 ) $ 6,941,302 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statement of Loss and Comprehensive Loss For the year ended September 30, 2021 Previously reported Adjustments As Revised Revenue $ 84,625 $ - $ 84,625 Operating expenses $ (661,632 ) $ (8,185 ) $ (669,817 ) Other income (expense) $ (668,050 ) $ - $ (668,050 ) Net Loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Foreign currency translation adjustment $ 141,703 $ 1,186 $ 142,889 Comprehensive loss $ (1,102,709 ) $ (6,999 ) $ (1,109,708 ) Loss Per Share- basic and diluted $ (1.83 ) $ (0.01 ) $ (1.84 ) Consolidated Statement of Equity For the year ended September 30, 2021 Previously reported Adjustments As Revised Deficit at September 30, 2020 $ (4,096,774 ) $ (195,783 ) $ (4,292,557 ) Adjustment on cancelation of stock options $ (23,062 ) $ 23,062 $ - Deficit at September 30, 2021 $ (5,318,769 ) $ (227,030 ) $ (5,545,799 ) Reserve at September 30, 2020 $ 1,192,123 $ 199,898 $ 1,392,021 Acquisition of property - warrants $ 1,180,718 $ (129,348 ) $ 1,051,370 Reserve at September 30, 2021 $ 2,383,105 $ 93,612 $ 2,446,261 Net Loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Accumulated other comprehensive income at September 30, 2020 $ (270,235 ) $ (67 ) $ (270,302 ) Other comprehensive loss $ 141,703 $ 1,186 $ 142,889 Accumulated other comprehensive income at September 30, 2021 $ (128,532 ) $ 1,119 $ (127,413 ) Consolidated Statement of Cash Flows For the year ended September 30, 2021 Previously reported Adjustments As Revised Net loss $ (1,245,057 ) $ (8,185 ) $ (1,253,242 ) Net cash provided by (used in) operating activities $ (705,851 ) $ (35,747 ) $ (749,783 ) Net cash provided by (used in) investing activities $ 857,527 $ - $ 857,527 Net cash provided by (used in) financing activities $ (131,387 ) $ 43,932 $ (87,455 ) Change in cash during the year $ 20,289 $ - $ 20,289 Cash, beginning of the year $ 5,517 $ - $ 5,517 Cash, end of the year $ 25,806 $ - $ 25,806 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS The table below represents the balances of the affected accounts on the Consolidated Balance Sheet as of September 30, 2020, the Consolidated Statement of Loss and Comprehensive Loss for the year ended September 30, 2020, Consolidated Statement of Equity, and the Consolidated Statement of Cash Flows for the year ended September 30, 2020. Certain of the prior year figures have been reclassified to conform to the current financial statement presentation . Consolidated Balance Sheet Balance as reported on September 30, 2020 Adjustment of asset retirement obligations Adjustment for correction of warrant fair value Adjustment for reclassification of option cancellation Total Adjustments Balance as revised at September 30, 2020 Cash $ 5,517 $ 5,517 Trade and other receivables $ 44,702 $ 44,702 Prepaid expenses and deposits $ 15,603 - $ 15,603 Assets held for sale $ 2,924,465 $ (210,124 ) $ (210,124 ) $ 2,714,341 Reclamation deposits $ 194,750 $ 194,750 Property and equipment, net $ 3,765,914 $ (517,364 ) $ (517,364 ) $ 3,248,550 Right of use asset $ 49,870 $ 49,870 Total assets $ 7,000,821 $ (727,488 ) - $ (727,488 ) $ 6,273,333 Trade and other payables $ 713,696 $ 713,696 Amounts due to related party $ 151,353 $ 151,353 Convertible debentures $ 150,000 $ 150,000 Liabilities held for sale $ 1,801,221 $ (210,124 ) $ (210,124 ) $ 1,591,097 Lease liability $ 53,128 $ 53,128 Loan payable 30,000 $ 30,000 Asset retirement obligations $ 792,814 $ (521,412 ) $ (521,412 ) $ 271,402 Total liabilities $ 3,692,212 $ (731,536 ) - $ (731,536 ) $ 2,960,676 Common stock $ 6,453,039 $ 6,453,039 Additional paid-in capital $ 1,222,579 $ 199,898 $ 199,898 $ 1,422,477 Accumulated other comprehensive loss $ (270,235 ) (67 ) $ (67 ) $ (270,302) Deficit $ (4,096,774 ) $ 4,115 - (199,898 ) $ (195,783 ) $ (4,292,557) Total equity $ 3,308,609 $ 4,048 - $ 4,048 $ 3,312,657 Total liabilities and equity $ 7,000,821 $ (727,488 ) - $ (727,488 ) $ 6,273,333 PERMEX PETROLEUM CORPORATION NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS YEARS ENDED SEPTEMBER 30, 2021 AND 2020 3. IMMATERIAL CORRECTION TO PRIOR PERIODS Consolidated Statement of Loss and Comprehensive Loss For the year ended September 30, 2020 Previously reported Adjustments As Revised Revenue $ 682,786 $ - $ 682,786 Operating expenses $ (1,101,747 ) $ (4,329 ) $ (1,106,076 ) Other income (expense) $ (830,241 ) $ - $ (830,241 ) Net Loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Foreign currency translation adjustment $ (39,084 ) $ 8,377 $ (30,707 ) Comprehensive loss $ (270,235 ) $ (67 ) $ (270,302 ) Loss Per Share- basic and diluted $ (1.87 ) $ (0.01 ) $ (1.88 ) Consolidated Statement of Equity For the year ended September 30, 2020 Previously reported Adjustments As Revised Deficit at September 30, 2019 $ (3,047,470 ) $ 8,444 $ (3,039,026 ) Adjustment on cancelation of stock options $ (199,898 ) $ 199,898 $ - Deficit at September 30, 2020 $ (4,096,774 ) $ (195,783 ) $ (4,292,557 ) Reserve at September 30, 2020 $ 1,192,123 $ 199,898 $ 1,392,021 Net Loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Accumulated other comprehensive income at September 30, 2019 $ (231,151 ) $ (8,444 ) $ (239,595 ) Other comprehensive loss $ (39,084 ) $ 8,377 $ (30,707 ) Accumulated other comprehensive income at September 30, 2020 $ (270,235 ) $ (67 ) $ (270,302 ) Consolidated Statement of Cash Flows For the year ended September 30, 2020 Previously reported Adjustments As Revised Net loss $ (1,249,202 ) $ (4,329 ) $ (1,253,531 ) Net cash provided by (used in) operating activities $ 22,766 $ (20,962 ) $ 1,804 Net cash provided by (used in) investing activities $ (128,752 ) $ - $ (128,752 ) Net cash provided by (used in) financing activities $ 108,805 $ 20,962 $ 129,767 Change in cash during the year $ 2,819 $ - $ 2,819 Cash, beginning of the year $ 2,698 $ - $ 2,698 Cash, end of the year $ 5,517 $ - $ 5,517

NON-CURRENT ASSETS (Tables)

NON-CURRENT ASSETS (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Non-current Assets
SCHEDULE OF PROPERTY AND EQUIPMENT	Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT March 31, 2022 September 30, 2021 Oil and natural gas properties, at cost $ 6,812,931 $ 6,723,778 Less: accumulated depreciation (173,698 ) (84,803 ) Property, net $ 6,639,233 $ 6,638,975	Property and equipment consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT June 30, September 30, Oil and natural gas properties, at cost $ 6,886,783 $ 6,723,778 Vehicle, at cost 63,918 - Less: accumulated depletion and depreciation (246,791 ) (84,803 ) Property and equipment, net $ 6,703,910 $ 6,638,975	Property and equipment as of September 30, 2021 and 2020 consisted of the following: SCHEDULE OF PROPERTY AND EQUIPMENT 2021 2020 Oil and natural gas properties $ 6,723,778 $ 3,336,906 Corporate assets - 42,436 Property and equipment, at cost 6,723,778 3,379,342 Less: accumulated depreciation and depletion (84,803 ) (130,792 ) Property and equipment, net $ 6,638,975 $ 3,248,550
SCHEDULE OF RECOVERABLE AMOUNT			The recoverable amount of the disposal group as of September 30, 2020 is as follows. SCHEDULE OF RECOVERABLE AMOUNT Assets held for sale Oil and gas properties $ 2,714,341 Liabilities held for sale Decommissioning liabilities $ 1,591,097

ASSET RETIREMENT OBLIGATIONS (T

ASSET RETIREMENT OBLIGATIONS (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
SCHEDULE OF DECOMMISSIONING OBLIGATIONS	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS March 31, 2022 September 30, 2021 Asset retirement obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 16,476 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 569,070 $ 552,594	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS June 30, September 30, Decommissioning obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 24,714 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 577,308 $ 552,594	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS 2021 2020 Asset retirement obligations, beginning of the year $ 271,402 $ 1,942,075 Obligations acquired 258,726 - Obligations derecognized (125,511 ) (116,192 ) Change in estimates 117,921 - Accretion expense 19,907 49,700 Reclassification to liabilities held for sale - (1,591,097 ) Foreign exchange movement 10,149 (13,084 ) $ 552,594 $ 271,402

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS	SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 27,921 2023 32,288 Total lease payments $ 60,209	SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 13,785 2023 31,643 Total lease payments $ 45,428	SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS 2022 $ 55,402 2023 31,885 Total lease payments $ 87,287
SCHEDULE OF COMPONENTS OF LEASE EXPENSE	The components of lease expense for the six month periods ended March 31 were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2022 2021 Fixed lease expense $ 27,774 $ 16,389 Variable lease expense 5,744 3,747 Total $ 33,518 $ 20,136	The components of lease expense for the nine month periods ended June 30 were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2022 2021 Fixed lease expense $ 41,661 $ 30,194 Variable lease expense 13,246 4,597 Total $ 54,907 $ 34,791	The components of lease expense were as follows: SCHEDULE OF COMPONENTS OF LEASE EXPENSE 2021 2020 Fixed lease expense $ 43,932 $ 20,962 Variable lease expense 10,404 6,048 Total $ 54,336 $ 27,010
SCHEDULE OF LEASE LIABILITY	The following is a continuity schedule of the lease liability: SCHEDULE OF LEASE LIABILITY March 31, 2022 September 30, 2021 Balance, beginning of the year $ 78,949 $ 53,128 Addition - 57,357 Interest expense 4,169 9,812 Lease payments (27,145 ) (43,932 ) Foreign exchange movement - 2,584 Balance, end of the year $ 55,973 $ 78,949 Current liability $ 47,559 $ 51,963 Long-term liability $ 8,414 $ 26,986	The following is a continuity schedule of the lease liability: SCHEDULE OF LEASE LIABILITY June 30, September 30, Balance, beginning of the year $ 78,949 $ 53,128 Addition - 57,357 Interest expense 5,714 9,812 Lease payments (41,857 ) (43,932 ) Foreign exchange movement - 2,584 Balance, end of the year $ 42,806 $ 78,949 Current liability $ 39,493 $ 51,963 Long-term liability $ 3,313 $ 26,986	The following is a continuity schedule of lease liability: SCHEDULE OF LEASE LIABILITY 2021 2020 Balance, beginning of the year $ 53,128 $ - Addition 57,357 66,432 Interest expense 9,812 7,233 Lease payments (43,932 ) (20,962 ) Foreign exchange movement 2,584 425 Balance, end of the year $ 78,949 $ 53,128 Current liability $ 51,963 $ 21,202 Long-term liability $ 26,986 $ 31,926

EQUITY (Tables)

EQUITY (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Equity [Abstract]
SCHEDULE OF STOCK OPTION TRANSACTIONS	Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Granted 55,000 10.51 Balance, March 31, 2022 92,917 $ 15.00 Exercisable at March 31, 2022 92,917 $ 15.00 Weighted average fair value of options granted $ 11.40 (2021 - $ nil	Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Price Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Granted 55,000 10.51 Balance, June 30, 2022 92,917 $ 15.00 Exercisable at June 30, 2022 92,917 $ 15.00 Weighted average fair value of options granted $ 11.40 (2021 - $ nil )	Stock option transactions are summarized as follows: SCHEDULE OF STOCK OPTION TRANSACTIONS Number Weighted Balance, September 30, 2019 42,336 $ 21.58 Granted 5,000 2.23 Cancelled (8,333 ) 22.32 Balance, September 30, 2020 39,003 $ 18.75 Cancelled (1,086 ) 23.70 Balance, September 30, 2021 37,917 $ 19.51 Exercisable at September 30, 2021 35,417 $ 20.72 Weighted average fair value of options granted during the year $ nil (2020 - $ 1.69 )
SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE	SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2022 2021 Risk-free interest rate 1.50 % - Expected life of options 10 - Expected annualized volatility 96.56 % - Dividend rate Nil -	SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2022 2021 Risk-free interest rate 1.50 % - Expected life of options 10 Years - Expected annualized volatility 96.56 % - Dividend rate Nil -	SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE 2021 2020 Risk-free interest rate - 0.78 % Expected life of options - 10 Years Expected annualized volatility - 120 % Dividend rate - Nil
SCHEDULE OF STOCK OPTIONS OUTSTANDING	As at March 31, 2022, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 21.90 December 4, 2027 5,000 $ 13.14 November 1, 2028 5,000 $ 2.19 March 16, 2030 55,000 $ 10.51 October 6, 2031 92,917	As at June 30, 2022, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 21.90 December 4, 2027 5,000 $ 13.14 November 1, 2028 5,000 $ 2.19 March 16, 2030 55,000 $ 10.51 October 6, 2031 92,917	As at September 30, 2021, the following stock options were outstanding: SCHEDULE OF STOCK OPTIONS OUTSTANDING Number Exercise Price Expiry Date 27,917 $ 23.55 December 4, 2027 5,000 $ 14.13 November 1, 2028 5,000 $ 2.36 March 16, 2030 37,917
SCHEDULE OF WARRANTS TRANSACTIONS	Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Balance, September 30, 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42 Granted 888,763 12.91 Balance, March 31, 2022 1,097,096 $ 12.12	Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Average Price Balance, September 30, 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42 Granted 888,763 12.91 Balance, June 30, 2022 1,097,096 $ 12.12	Warrant transactions are summarized as follows: SCHEDULE OF WARRANTS TRANSACTIONS Number Weighted Balance, September 30, 2019 and 2020 80,087 $ 12.77 Granted 208,333 9.48 Warrants expired (80,087 ) 13.46 Balance, September 30, 2021 208,333 $ 9.42
SCHEDULE OF WARRANTS OUTSTANDING	As at March 31, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096	As at June 30, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096	As at June 30, 2022, the following warrants were outstanding: SCHEDULE OF WARRANTS OUTSTANDING Number Exercise Price Expiry Date 24,739 $ 23.65 November 4, 2023 864,024 $ 12.60 March 29, 2027 208,333 $ 8.76 September 30, 2031 1,097,096
SCHEDULE OF VALUATION OF WARRANTS	The following weighted average assumptions were used for the Black-Scholes valuation of warrants as at March 31, 2022 and November 4, 2021: SCHEDULE OF VALUATION OF WARRANTS March 31, 2022 November 4, 2021 Risk-free interest rate 2.27 % 0.98 % Expected life of options 1.5 2 Expected annualized volatility 143.52 % 153,02 % Dividend rate Nil Nil Weighted average fair value of options granted $ 6.91 $ 11.45	The following weighted average assumptions were used for the Black-Scholes valuation of warrants as at June 30, 2022 and November 4, 2021: SCHEDULE OF VALUATION OF WARRANTS June 30, November 4, Risk-free interest rate 3.10 % 0.98 % Expected life of options 1.25 2 Expected annualized volatility 137.67 % 153,02 % Dividend rate Nil Nil Weighted average fair value of options granted $ 2.88 $ 11.45

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE	SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2022 2021 Net loss $ (909,116 ) $ (307,356 ) Weighted average common shares outstanding 1,151,301 675,062 Basic and diluted loss per share $ (0.79 ) $ (0.46 )	SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2022 2021 Net loss $ (1,797,785 ) $ (460,316 ) Weighted average common shares outstanding 1,411,734 676,474 Basic and diluted loss per share $ (1.27 ) $ (0.68 )	SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE 2021 2020 Net loss $ (1,253,242 ) $ (1,253,531 ) Weighted average common shares outstanding 678,958 667,069 Basic and diluted loss per share $ (1.84 ) $ (1.88 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
SCHEDULE OF RECONCILIATION OF INCOME TAX	A reconciliation of income taxes at statutory rates with the reported taxes is as follows: SCHEDULE OF RECONCILIATION OF INCOME TAX 2021 2020 Loss before income taxes $ (1,253,242 ) $ (1,253,531 ) Expected income tax recovery at statutory rates $ (338,000 ) $ (338,000 ) Change in statutory, foreign tax, foreign exchange rates and other (53,000 ) 50,000 Permanent differences 1,000 2,000 Adjustment to prior years provision versus statutory tax returns (11,000 ) (13,000 ) Unrecognized temporary differences 401,000 299,000 Deferred income tax recovery $ - $ -
SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES	The significant components of the Company’s deferred tax assets and liabilities are as follows: SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES 2021 2020 Non-capital losses available for future periods $ 780,000 $ 571,000 Property and equipment (9,000 ) (233,000 ) Financing fees 38,000 70,000 Total gross deferred tax assets 809,000 408,000 Unrecognized deferred income tax assets (809,000 ) (408,000 ) Net deferred income tax assets $ - $ -

SUPPLEMENTAL INFORMATION ON O_2

SUPPLEMENTAL INFORMATION ON OIL AND GAS OPERATIONS (UNAUDITED) (Tables)	12 Months Ended
	Sep. 30, 2021
Supplemental Information On Oil And Gas Operations
SCHEDULE OF COST INCURRED IN OIL AND GAS PRODUCING ACTIVITIES	SCHEDULE OF COST INCURRED IN OIL AND GAS PRODUCING ACTIVITIES 12 Months Ended 12 Months Ended September 30, 2021 September 30, 2020 Acquisition of proved properties $ 3,699,215 $ — Acquisition of unproved properties — — Development costs 9,403 254,299 Exploration costs — — Total costs incurred $ 3,708,618 $ 254,299
SCHEDULE OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES	Results of Operations from Oil and Gas Producing Activities SCHEDULE OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES 12 Months Ended 12 Months Ended September 30, 2021 September 30, 2020 Oil and gas revenues $ 46,703 $ 682,786 Production costs (59,671 ) (557,624 ) Exploration expenses — — Depletion, depreciation and amortization (52,439 ) (28,660 ) Impairment of oil and gas properties — — Result of oil and gas producing operations before income taxes (65,407 ) 96,502 Provision for income taxes — — Results of oil and gas producing activities $ (65,407 ) $ 96,502
SCHEDULE OF PROVED RESERVES	Our proved reserves are summarized in the table below: SCHEDULE OF PROVED RESERVES Oil (Barrels) Natural Gas (Mcf) BOE (Barrels) Proved developed and undeveloped reserves: September 30, 2019 3,992,240 498,180 4,075,270 Revisions(1) 440,160 251,196 482,026 Discoveries and extensions — — — Sale of reserves(2) (709,800 ) — (709,800 ) Production (16,240 ) (9,196 ) (17,773 ) September 30, 2020 3,706,360 740,180 3,829,723 Revisions (88,263 ) 38,640 (81,823 ) Purchase of proved reserves(3) 5,408,560 2,859,590 5,885,158 Sale reserves(4) (2,826,290 ) (618,650 ) (2,929,398 ) Production (947 ) (1,410 ) (1,182 ) September 30, 2021 6,199,420 3,018,350 6,702,478 Proved developed reserves: September 30, 2019 921,410 104,000 938,743 September 30, 2020 549,390 82,430 563,128 September 30, 2021 587,450 411,910 656,102 Proved undeveloped reserves: September 30, 2019 3,070,830 394,180 3,136,527 September 30, 2020 3,156,970 657,750 3,266,595 September 30, 2021 5,611,970 2,606,440 6,046,377 (1) Revisions in 2020 included 120,850 bbls additional proved undeveloped reserves due to economic conditions and approximately 373,000 bbls of oil and 242,000 mcf of natural gas added to the ODC Gaines County property due to two additional productive zones evaluated and included in proved reserves. (2) During 2020, the Company sold their McMurtry-Loving property. (3) Revisions in 2021 included 120,850 bbls in proved undeveloped reserves being classified as probable in the 2021 reserve report, net of other immaterial revisions in several properties. (4) During 2021, the Company purchased 1,246 net acres in Martin County, Texas. (5) During 2021, the Company sold ODC and Taylor properties.
SCHEDULE OF NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES	SCHEDULE OF NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES 12 Months Ended September 30, 2021 September 30, 2020 Future cash inflows $ 355,958,000 $ 150,694,000 Future production costs(1) (69,683,000 ) (50,268,000 ) Future development costs (71,700,000 ) (26,263,000 ) Future income tax expenses (57,206,000 ) (19,689,000 ) Future net cash flows 157,369,000 54,474,000 10% annual discount for estimated timing of cash flows (84,100,000 ) (33,677,000 ) Standardized measure of discounted future net cash flows at the end of the fiscal year $ 73,269,000 $ 20,797,000 (1) Production costs include crude oil and natural gas operations expense, production ad valorem taxes, transportation costs and G&A expense supporting the Company’s crude oil and natural gas operations.
SCHEDULE OF AVERAGE HYDROCARBON PRICES	Average hydrocarbon prices are set forth in the table below. SCHEDULE OF AVERAGE HYDROCARBON PRICES Average Price Natural Crude Oil (Bbl) Gas (Mcf) Year ended September 30, 2019 (1) $ 53.60 $ 2.51 Year ended September 30, 2020 (1) $ 40.30 $ 1.77 Year ended September 30, 2021 (1) $ 55.98 $ 2.95 (1) Average prices were based on 12-month unweighted arithmetic average of the first-day-of-the-month prices for the period from October through September during each respective fiscal year.
SCHEDULE OF CHANGES IN DISCOUNTED FUTURE NET CASH FLOWS	SCHEDULE OF CHANGES IN DISCOUNTED FUTURE NET CASH FLOWS 12 Months Ended September 30, 2021 September 30, 2020 Standardized measure of discounted future net cash flows at the beginning of the year $ 20,797,000 $ 40,833,000 Extensions, discoveries and improved recovery, less related costs — — Sales of minerals in place (62,682,000 ) (7,509,000 ) Purchase of minerals in place 125,927,000 — Revisions of previous quantity estimates (1,751,000 ) 5,099,000 Net changes in prices and production costs 32,573,000 (21,863,000 ) Accretion of discount 1,498,000 3,416,000 Sales of oil produced, net of production costs 13,000 (125,000 ) Changes in future development costs (21,339,000 ) (919,000 ) Changes in timing of future production (2,580,000 ) (5,562,000 ) Net changes in income taxes (19,187,000 ) 7,427,000 Standardized measure of discounted future net cash flows at the end of the year $ 73,269,000 $ 20,797,000

ASSET RETIREMENT (Tables)

ASSET RETIREMENT (Tables)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Asset Retirement Obligation Disclosure [Abstract]
SCHEDULE OF DECOMMISSIONING OBLIGATIONS	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS March 31, 2022 September 30, 2021 Asset retirement obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 16,476 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 569,070 $ 552,594	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS June 30, September 30, Decommissioning obligations, beginning of the year $ 552,594 $ 271,402 Obligations acquired - 258,726 Obligations derecognized - (125,511 ) Change in estimates - 117,921 Accretion expense 24,714 19,907 Foreign exchange movement - 10,149 Decommissioning obligation $ 577,308 $ 552,594	Changes to the asset retirement obligations are as follows: SCHEDULE OF DECOMMISSIONING OBLIGATIONS 2021 2020 Asset retirement obligations, beginning of the year $ 271,402 $ 1,942,075 Obligations acquired 258,726 - Obligations derecognized (125,511 ) (116,192 ) Change in estimates 117,921 - Accretion expense 19,907 49,700 Reclassification to liabilities held for sale - (1,591,097 ) Foreign exchange movement 10,149 (13,084 ) $ 552,594 $ 271,402

BACKGROUND (Details Narrative)

BACKGROUND (Details Narrative)		6 Months Ended	9 Months Ended	12 Months Ended
	Oct. 26, 2022	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Subsequent Event [Line Items]
Date of incorporation		Apr. 24, 2017	Apr. 24, 2017	Apr. 24, 2017
Subsequent Event [Member]
Subsequent Event [Line Items]
Stockholders' Equity, Reverse Stock Split	1 for 60 ratio

SCHEDULE OF ESTIMATED USEFUL LI

SCHEDULE OF ESTIMATED USEFUL LIVES (Details)	12 Months Ended
	Sep. 30, 2021
Computer Equipment [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	2 years
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property plant and equipment useful life	5 years

SCHEDULE OF ERROR CORRECTIONS A

SCHEDULE OF ERROR CORRECTIONS AND PRIOR PERIOD ADJUSTMENTS OF CONSOLIDATED FINANCIAL STATEMENTS (Details)		3 Months Ended						6 Months Ended			9 Months Ended			12 Months Ended
		Jun. 30, 2022 USD ($) $ / shares		Mar. 31, 2022 USD ($) $ / shares		Jun. 30, 2021 USD ($) $ / shares	Mar. 31, 2021 USD ($) $ / shares	Mar. 31, 2022 USD ($) $ / shares		Mar. 31, 2021 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares		Jun. 30, 2021 USD ($) $ / shares	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2020 USD ($) $ / shares	Jun. 30, 2022 CAD ($)	Mar. 31, 2022 CAD ($)	Sep. 30, 2021 CAD ($)	Sep. 30, 2019 USD ($)
Cash		$ 5,366,789		$ 6,727,758				$ 6,727,758			$ 5,366,789			$ 25,806	$ 5,517
Trade and other receivables		186,740		146,403				146,403			186,740			12,984	44,702
Prepaid expenses and deposits		878,119		81,236				81,236			878,119			46,151	15,603
Reclamation deposits		145,052		145,000				145,000			145,052			144,847	194,750
Property and equipment, net		6,703,910		6,639,233				6,639,233			6,703,910			6,638,975	3,248,550
Right of use asset		37,522		49,195				49,195			37,522			72,539	49,870
Total assets		13,318,132		13,788,825				13,788,825			13,318,132			6,941,302	6,273,333
Trade and other payables		1,123,635		581,772				581,772			1,123,635			402,979	699,592
Amounts due to related party		8,687		2,290				2,290			8,687			16,628	165,457
Convertible debentures		77,600		80,000				80,000			77,600			78,500	75,000	$ 100,000	$ 100,000	$ 100,000
Lease liability		42,806		55,973				55,973			42,806			78,949	53,128
Loan payable				32,000				32,000						31,400	30,000
Asset retirement obligations		577,308		569,070				569,070			577,308			552,594	271,402				1,942,075
Total liabilities		1,879,176		1,443,083				1,443,083			1,879,176			1,161,050	2,960,676
Common stock		14,338,233		14,356,535				14,356,535			14,338,233			8,976,747	6,453,039
Additional paid-in capital		4,571,720		4,571,535				4,571,535			4,571,720			2,476,717	1,422,477
Accumulated other comprehensive income		(127,413)		(127,413)				(127,413)			(127,413)			(127,413)	(270,302)
Deficit		(7,343,584)		(6,454,915)				(6,454,915)			(7,343,584)			(5,545,799)	(4,292,557)
Total equity		11,438,956		12,345,742		$ 3,155,669	$ 3,223,874	12,345,742		$ 3,223,874	11,438,956		$ 3,155,669	5,780,252	3,312,657				4,592,720
Total liabilities and equity		13,318,132		13,788,825				13,788,825			13,318,132			6,941,302	6,273,333
Revenue		276,722		241,886		34,298	40	348,335		3,094	625,057		37,392	84,625	682,786
Total operating expenses		(1,247,531)		(388,117)		(185,910)	(190,953)	(1,324,836)		(300,682)	(2,572,367)		(486,592)	(1,324,361)	(1,920,462)
Other income (expense)		82,140		(11,697)		(1,348)	(5,110)	67,385		(9,768)	149,525		(11,116)	(13,506)	(15,855)
Net loss		(888,669)		(157,928)		(152,960)	(196,023)	(909,116)		(307,356)	(1,797,785)		(460,316)	(1,253,242)	(1,253,531)
Foreign currency translation adjustment						49,419	40,389			196,182			245,969	142,889	(30,706)
Comprehensive loss		$ (888,669)		$ (157,928)		$ (103,541)	$ (155,634)	$ (909,116)		$ (111,173)	$ (1,797,785)		$ (214,347)	$ (1,110,353)	$ (1,284,237)
Loss Per Share- basic and diluted | $ / shares		$ (0.46)		$ (0.13)		$ (0.23)	$ (0.29)	$ (0.79)		$ (0.46)	$ (1.27)		$ (0.68)	$ (1.84)	$ (1.88)
Balance		$ 12,345,742		$ 5,991,833		$ 3,223,874	$ 3,378,593	$ 5,780,252		$ 3,312,657	$ 5,780,252		$ 3,312,657	$ 3,312,657	$ 4,592,720
Balance		11,438,956		12,345,742		3,155,669	3,223,874	12,345,742		3,223,874	11,438,956		3,155,669	5,780,252	3,312,657
Acquisition of property - warrants														1,051,370
Net loss		(888,669)		(157,928)		(152,960)	(196,023)	(909,116)		(307,356)	(1,797,785)		(460,316)	(1,253,242)	(1,253,531)
Accumulated other comprehensive income, Beginning balance		(127,413)						(127,413)		(270,302)	(127,413)		(270,302)	(270,302)
Other comprehensive loss						49,419	40,389			196,550			245,969	142,889	(30,707)
Accumulated other comprehensive income, Ending balance		(127,413)		(127,413)				(127,413)			(127,413)			(127,413)	(270,302)
Net cash provided by (used in) operating activities								(271,897)		(559,175)	(1,474,938)		(653,385)	(749,783)	1,804
Net cash provided by (used in) investing activities								(90,219)		927,825	(201,698)		839,946	857,527	(128,752)
Net cash provided by (used in) financing activities								7,064,068		(80,730)	7,017,619		(85,329)	(87,455)	129,767
Change in cash during the period								6,701,952		287,920	5,340,983		101,232	20,289	2,819
Cash, beginning of the period		6,727,758				293,437		25,806		5,517	25,806		5,517	5,517	2,698
Cash, end of the period		5,366,789		6,727,758		106,749	293,437	6,727,758		293,437	5,366,789		106,749	25,806	5,517
Assets held for sale															2,714,341
Liabilities held for sale															1,591,097
Warrant liability		49,140		121,978				121,978			49,140
Property and equipment, net		577,308		569,070				569,070			577,308			552,594	271,402
Adjustment for Functional Currency Change [Member]
Accumulated other comprehensive income	[1]	267,241									267,241
Accumulated other comprehensive income, Ending balance	[1]	267,241									267,241
Retained Earnings [Member]
Total equity		(7,343,584)		(6,454,915)		(4,752,873)	(4,599,913)	(6,454,915)		(4,599,913)	(7,343,584)		(4,752,873)	(5,545,799)	(4,292,557)				(3,039,026)
Net loss		(888,669)		(157,928)		(152,960)	(196,023)	(909,116)		(307,356)	(1,797,785)		(460,316)	(1,253,242)	(1,253,531)
Balance		(6,454,915)		(6,296,987)		(4,599,913)	(4,403,890)	(5,545,799)		(4,292,557)	(5,545,799)		(4,292,557)	(4,292,557)	(3,039,026)
Balance		(7,343,584)		(6,454,915)		(4,752,873)	(4,599,913)	(6,454,915)		(4,599,913)	(7,343,584)		(4,752,873)	(5,545,799)	(4,292,557)
Acquisition of property - warrants
Net loss		(888,669)		(157,928)		(152,960)	(196,023)	(909,116)		(307,356)	(1,797,785)		(460,316)	(1,253,242)	(1,253,531)
Other comprehensive loss
Adjustment of Asset Retirement Obligations [Member]
Property and equipment, net														(1,077,822)	(517,364)
Total assets														(1,077,822)	(727,488)
Asset retirement obligations														(1,074,871)	(521,412)
Total liabilities														(1,074,871)	(731,536)
Accumulated other comprehensive income														1,119	(67)
Deficit														(4,070)	4,115
Total equity														(2,951)	4,048
Total liabilities and equity														(1,077,822)	(727,488)
Balance								(2,951)		4,048	(2,951)		4,048	4,048
Balance														(2,951)	4,048
Accumulated other comprehensive income, Beginning balance								1,119		(67)	1,119		(67)	(67)
Accumulated other comprehensive income, Ending balance														1,119	(67)
Assets held for sale															(210,124)
Liabilities held for sale															(210,124)
Adjustment For Correction of Warrant Fair Value [Member]
Prepaid expenses and deposits
Property and equipment, net														(129,348)
Total assets														(129,348)
Total liabilities
Additional paid-in capital														(129,348)
Deficit
Total equity														(129,348)
Total liabilities and equity														(129,348)
Balance								(129,348)			(129,348)
Balance														(129,348)
Adjustment For Reclassification of Option Cancellation [Member]
Additional paid-in capital														222,960	199,898
Deficit														(222,960)	(199,898)
Revision of Prior Period, Adjustment [Member]
Cash
Property and equipment, net		(1,077,822)		(1,077,822)				(1,077,822)			(1,077,822)			(1,207,170)	(517,364)
Right of use asset		153		(541)				(541)			153
Total assets		(1,134,457)		(1,328,557)				(1,328,557)			(1,134,457)			(1,207,170)	(727,488)
Asset retirement obligations														(1,074,871)	(521,412)
Total liabilities		(1,018,723)		(964,380)				(964,380)			(1,018,723)			(1,074,871)	(731,536)
Common stock		(42,838)		(42,838)				(42,838)			(42,838)
Additional paid-in capital				(129,348)				(129,348)						93,612	199,898
Accumulated other comprehensive income		267,241		(108,568)				(108,568)			267,241			1,119	(67)				(8,444)
Deficit		(4,070)		(4,070)				(4,070)			(4,070)			(227,030)	(195,783)
Total equity		(115,734)		(364,177)				(364,177)			(115,734)			(132,299)	4,048
Total liabilities and equity		(1,134,457)		(1,328,557)				(1,328,557)			(1,134,457)			(1,207,170)	(727,488)
Revenue
Total operating expenses		(194,416)		3,124				(478)			(200,681)			(8,185)	(4,329)
Other income (expense)		67,050		(16,099)				59,071			131,908
Net loss		(127,366)		(12,975)				58,593			(68,773)			(8,185)	(4,329)
Foreign currency translation adjustment		375,809		(82,825)				(109,687)			266,122	[1]		1,186	8,377
Comprehensive loss		$ 248,443		$ (95,800)				$ (51,094)			$ 197,349			$ (6,999)	$ (67)
Loss Per Share- basic and diluted | $ / shares		$ (0.10)		$ (0.01)				$ 0.05			$ (0.05)			$ (0.01)	$ (0.01)
Balance		$ (364,177)						$ (132,299)		4,048	$ (132,299)		4,048	$ 4,048
Adjustment on cancelation of stock options														23,062	$ 199,898
Balance		(115,734)		$ (364,177)				(364,177)			(115,734)			(132,299)	4,048
Reserves, Beginning balance								93,612		199,898	93,612		199,898	199,898
Acquisition of property - warrants														(129,348)
Reserves, Ending balance		(129,348)									(129,348)			93,612	199,898
Net loss		(127,366)		(12,975)				58,593			(68,773)			(8,185)	(4,329)
Accumulated other comprehensive income, Beginning balance		(108,568)						1,119		(67)	1,119		(67)	(67)	(8,444)
Other comprehensive loss														1,186	8,377
Accumulated other comprehensive income, Ending balance		267,241		(108,568)				(108,568)			267,241			1,119	(67)
Net cash provided by (used in) operating activities								(40,766)			(54,653)			(35,747)	(20,962)
Net cash provided by (used in) investing activities								438			438
Net cash provided by (used in) financing activities								40,328			54,215			43,932	20,962
Change in cash during the period
Cash, beginning of the period
Cash, end of the period
Assets held for sale															(210,124)
Liabilities held for sale															(210,124)
Warrant liability				121,978				121,978
Property and equipment, net				(1,074,871)				(1,074,871)
Reserves		(129,348)									(129,348)			93,612	199,898
Revision of Prior Period, Adjustment [Member] | Adjustment of Decommissioning Liability [Member]
Property and equipment, net		(1,077,822)	[2]	(1,077,822)	[3]			(1,077,822)	[3]		(1,077,822)	[2]
Common stock	[4]			(42,838)				(42,838)
Additional paid-in capital	[3]			(129,348)				(129,348)
Deficit		(4,070)	[2]	(4,070)	[4]			(4,070)	[4]		(4,070)	[2]
Other income (expense)		67,050	[2]	(16,099)	[3]			59,071	[3]
Foreign currency translation adjustment	[3]			(82,825)				(109,687)
Reserves, Ending balance	[2]	(129,348)									(129,348)
Warrant liability	[4]			121,978				121,978
Property and equipment, net	[3]			(1,074,871)				(1,074,871)
Reserves	[2]	(129,348)									(129,348)
Revision of Prior Period, Adjustment [Member] | Adjustment For Correction of Warrant Fair Value [Member]
Property and equipment, net		(129,348)	[5]	(129,348)	[6]			(129,348)	[6]		(129,348)	[5]
Deficit		(222,960)	[5]	(222,960)	[6]			(222,960)	[6]		(222,960)	[5]
Revision of Prior Period, Adjustment [Member] | Adjustment for Functional Currency Change [Member]
Property and equipment, net		72,560		(120,846)	[4]			(120,846)	[4]		72,560
Right of use asset		153	[1]	(541)	[4]			(541)	[4]		153	[1]
Additional paid-in capital		(137,946)	[1]	(137,946)	[4]			(137,946)	[4]		(137,946)	[1]
Accumulated other comprehensive income	[4]			(108,568)				(108,568)
Deficit		(68,773)	[1]	58,593	[4]			58,593	[4]		(68,773)	[1]
Accumulated other comprehensive income, Beginning balance	[4]	(108,568)
Accumulated other comprehensive income, Ending balance	[4]			(108,568)				(108,568)
Property and equipment, net		7,008	[1]	(11,487)	[4]			(11,487)	[4]		7,008	[1]
Revision of Prior Period, Adjustment [Member] | Adjustment For Reclassification of Option Cancellation [Member]
Additional paid-in capital	[7]			222,960				222,960
Other income (expense)	[2]										131,908
Foreign currency translation adjustment	[2]	375,809									266,122
Reserves, Ending balance	[8]	222,960									222,960
Reserves	[8]	222,960									222,960
Revision of Prior Period, Adjustment [Member] | Retained Earnings [Member]
Total equity														(227,030)	(195,783)				8,444
Balance								(227,030)		(195,783)	(227,030)		(195,783)	(195,783)	8,444
Balance														(227,030)	(195,783)
Restatement Revised [Member]
Cash		5,366,789		6,727,758				6,727,758			5,366,789			25,806	5,517
Trade and other receivables		186,740		146,403				146,403			186,740			12,984	44,702
Prepaid expenses and deposits		878,119		81,236				81,236			878,119			46,151	15,603
Reclamation deposits		145,052		145,000				145,000			145,052			144,847	194,750
Property and equipment, net		6,703,910		6,639,233				6,639,233			6,703,910			6,638,975	3,248,550
Right of use asset		37,522		49,195				49,195			37,522			72,539	49,870
Total assets		13,318,132		13,788,825				13,788,825			13,318,132			6,941,302	6,273,333
Trade and other payables		1,123,635		581,772				581,772			1,123,635			402,979	713,696
Amounts due to related party		8,687		2,290				2,290			8,687			16,628	151,353
Convertible debentures		77,600		80,000				80,000			77,600			78,500	150,000
Lease liability		42,806		55,973				55,973			42,806			78,949	53,128
Loan payable				32,000				32,000						31,400	30,000
Asset retirement obligations														552,594	271,402
Total liabilities		1,879,176		1,443,083				1,443,083			1,879,176			1,161,050	2,960,676
Common stock		14,338,233		14,356,535				14,356,535			14,338,233			8,976,747	6,453,039
Additional paid-in capital				4,571,535				4,571,535						2,476,717	1,422,477
Accumulated other comprehensive income		(127,413)		(127,413)				(127,413)			(127,413)			(127,413)	(270,302)				(239,595)
Deficit		(7,343,584)		(6,454,915)				(6,454,915)			(7,343,584)			(5,545,799)	(4,292,557)
Total equity		11,438,956		12,345,742				12,345,742			11,438,956			5,780,252	3,312,657
Total liabilities and equity		13,318,132		13,788,825				13,788,825			13,318,132			6,941,302	6,273,333
Revenue		276,722		241,886				348,335			625,057			84,625	682,786
Total operating expenses		(1,247,531)		(388,117)				(1,324,836)			(2,572,367)			(669,817)	(1,106,076)
Other income (expense)		82,140		(11,697)				67,385			149,525			(668,050)	(830,241)
Net loss		(888,669)		(157,928)				(909,116)			(1,797,785)			(1,253,242)	(1,253,531)
Foreign currency translation adjustment														142,889	(30,707)
Comprehensive loss		$ (888,669)		$ (157,928)				$ (909,116)			$ (1,797,785)			$ (1,109,708)	$ (270,302)
Loss Per Share- basic and diluted | $ / shares		$ (0.46)		$ (0.13)				$ (0.79)			$ (1.27)			$ (1.84)	$ (1.88)
Balance		$ 12,345,742						$ 5,780,252		3,312,657	$ 5,780,252		3,312,657	$ 3,312,657
Adjustment on cancelation of stock options
Balance		11,438,956		$ 12,345,742				12,345,742			11,438,956			5,780,252	3,312,657
Reserves, Beginning balance								2,446,261		1,392,021	2,446,261		1,392,021	1,392,021
Acquisition of property - warrants														1,051,370
Reserves, Ending balance		4,571,720									4,571,720			2,446,261	1,392,021
Net loss		(888,669)		(157,928)				(909,116)			(1,797,785)			(1,253,242)	(1,253,531)
Accumulated other comprehensive income, Beginning balance		(127,413)						(127,413)		(270,302)	(127,413)		(270,302)	(270,302)	(239,595)
Other comprehensive loss														142,889	(30,707)
Accumulated other comprehensive income, Ending balance		(127,413)		(127,413)				(127,413)			(127,413)			(127,413)	(270,302)
Net cash provided by (used in) operating activities								(271,897)			(1,474,938)			(749,783)	1,804
Net cash provided by (used in) investing activities								(90,219)			(201,698)			857,527	(128,752)
Net cash provided by (used in) financing activities								7,064,068			7,017,619			(87,455)	129,767
Change in cash during the period								6,701,952			5,340,983			20,289	2,819
Cash, beginning of the period		6,727,758						25,806		5,517	25,806		5,517	5,517	2,698
Cash, end of the period		5,366,789		6,727,758				6,727,758			5,366,789			25,806	5,517
Assets held for sale															2,714,341
Liabilities held for sale															1,591,097
Warrant liability				121,978				121,978
Property and equipment, net				569,070				569,070
Reserves		4,571,720									4,571,720			2,446,261	1,392,021
Restatement Revised [Member] | Retained Earnings [Member]
Total equity														(5,545,799)	(4,292,557)				(3,039,026)
Balance								(5,545,799)		(4,292,557)	(5,545,799)		(4,292,557)	(4,292,557)	(3,039,026)
Balance														(5,545,799)	(4,292,557)
Previously Reported [Member]
Cash															5,517
Trade and other receivables															44,702
Prepaid expenses and deposits															15,603
Reclamation deposits															194,750
Property and equipment, net														6,638,975	3,765,914
Right of use asset															49,870
Total assets															7,000,821
Trade and other payables															713,696
Amounts due to related party															151,353
Convertible debentures															150,000
Lease liability															53,128
Loan payable															30,000
Asset retirement obligations															792,814
Total liabilities															3,692,212
Common stock															6,453,039
Additional paid-in capital															1,222,579
Accumulated other comprehensive income														(128,532)	(270,235)				(231,151)
Deficit															(4,096,774)
Total equity															3,308,609
Total liabilities and equity															7,000,821
Revenue		276,722		241,886				348,335			625,057			84,625	682,786
Total operating expenses		(1,053,115)		(391,241)				(1,324,358)			(2,371,686)			(661,632)	(1,101,747)
Other income (expense)		15,090		4,402				8,314			17,617			(668,050)	(830,241)
Net loss		(761,303)		(144,953)				(967,709)			(1,729,012)			(1,245,057)	(1,249,202)
Foreign currency translation adjustment		(375,809)		82,825				109,687			(266,122)			141,703	(39,084)
Comprehensive loss		$ (1,137,112)		$ (62,128)				$ (858,022)			$ (1,995,134)			$ (1,102,709)	$ (270,235)
Loss Per Share- basic and diluted | $ / shares		$ (0.36)		$ (0.12)				$ (0.84)			$ (1.22)			$ (1.83)	$ (1.87)
Balance										3,308,609			3,308,609	$ 3,308,609
Adjustment on cancelation of stock options														(23,062)	$ (199,898)
Balance															3,308,609
Reserves, Beginning balance								$ 2,383,105		1,192,123	$ 2,383,105		1,192,123	1,192,123
Acquisition of property - warrants														1,180,718
Reserves, Ending balance														2,383,105	1,192,123
Net loss		$ (761,303)		$ (144,953)				(967,709)			(1,729,012)			(1,245,057)	(1,249,202)
Accumulated other comprehensive income, Beginning balance								(128,532)		(270,235)	(128,532)		(270,235)	(270,235)	(231,151)
Other comprehensive loss														141,703	(39,084)
Accumulated other comprehensive income, Ending balance														(128,532)	(270,235)
Net cash provided by (used in) operating activities								(231,131)			(1,420,285)			(705,851)	22,766
Net cash provided by (used in) investing activities								(90,657)			(202,136)			857,527	(128,752)
Net cash provided by (used in) financing activities								7,023,740			6,963,404			(131,387)	108,805
Change in cash during the period								6,701,952			5,340,983			20,289	2,819
Cash, beginning of the period		6,727,758						25,806		5,517	25,806		5,517	5,517	2,698
Cash, end of the period		5,366,789		6,727,758				6,727,758			5,366,789			25,806	5,517
Assets held for sale															2,924,465
Liabilities held for sale															1,801,221
Reserves														2,383,105	1,192,123
Previously Reported [Member] | Retained Earnings [Member]
Total equity														(5,318,769)	(4,096,774)				$ (3,047,470)
Balance								(5,318,769)		$ (4,096,774)	(5,318,769)		$ (4,096,774)	(4,096,774)	(3,047,470)
Balance														(5,318,769)	$ (4,096,774)
Previously Reported [Member]
Cash		5,366,789		6,727,758				6,727,758			5,366,789			25,806
Trade and other receivables		186,740		146,403				146,403			186,740			12,984
Prepaid expenses and deposits		878,119		81,236				81,236			878,119			46,151
Reclamation deposits		145,052		145,000				145,000			145,052			144,847
Property and equipment, net		7,838,520		7,967,249				7,967,249			7,838,520			7,846,145
Right of use asset		37,369		49,736				49,736			37,369			72,539
Total assets		14,452,589		15,117,382				15,117,382			14,452,589			8,148,472
Trade and other payables		1,123,635		581,772				581,772			1,123,635			402,979
Amounts due to related party		8,687		2,290				2,290			8,687			16,628
Convertible debentures		77,600		80,000				80,000			77,600			78,500
Lease liability		42,806		55,973				55,973			42,806			78,949
Loan payable				32,000				32,000						31,400
Asset retirement obligations														1,627,465
Total liabilities		2,897,899		2,407,463				2,407,463			2,897,899			2,235,921
Common stock		14,381,071		14,399,373				14,399,373			14,381,071			8,976,747
Additional paid-in capital				4,615,869				4,615,869						2,383,105
Accumulated other comprehensive income		(394,654)		(18,845)				(18,845)			(394,654)			(128,532)
Deficit		(7,047,781)		(6,286,478)				(6,286,478)			(7,047,781)			(5,318,769)
Total equity		11,554,690		12,709,919				12,709,919			11,554,690			5,912,551
Total liabilities and equity		14,452,589		15,117,382				15,117,382			14,452,589			8,148,472
Balance		12,709,919						5,912,551			5,912,551
Balance		11,554,690		12,709,919				12,709,919			11,554,690			5,912,551
Reserves, Ending balance		4,616,054									4,616,054
Accumulated other comprehensive income, Beginning balance		(18,845)						(128,532)			(128,532)
Accumulated other comprehensive income, Ending balance		(394,654)		(18,845)				(18,845)			(394,654)			$ (128,532)
Warrant liability
Property and equipment, net				$ 1,655,428				$ 1,655,428
Reserves		$ 4,616,054									$ 4,616,054
[1] Adjustment for functional currency change Adjustment for functional currency change Adjustment for correction of warrant fair value Adjustment for correction of warrant fair value Adjustment for reclassification of option cancellation Adjustment for reclassification of option cancellation

CONCENTRATION OF CREDIT RISK (D

CONCENTRATION OF CREDIT RISK (Details Narrative) - Customer Concentration Risk [Member] - One Customer [Member] - USD ($)	6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Revenue Benchmark [Member]
Concentration Risk [Line Items]
Concentration risk percentage	75%	100%	54%	100%	49%	45%
Accounts Receivable [Member]
Concentration Risk [Line Items]
Concentration risk percentage	40%		71%		26%	95%
Trade receivables	$ 55,255		$ 107,738		$ 2,927	$ 38,465

SCHEDULE OF PROPERTY AND EQUIPM

SCHEDULE OF PROPERTY AND EQUIPMENT (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Line Items]
Property and equipment, gross				$ 3,379,342
Less: accumulated depletion and depreciation	$ (246,791)	$ (173,698)	$ (84,803)	(130,792)
Property and equipment, net	6,703,910	6,639,233	6,638,975	3,248,550
Previously Reported [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross			6,723,778
Less: accumulated depletion and depreciation			(84,803)
Property and equipment, net			6,638,975	3,765,914
Oil and Gas Properties [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	6,886,783	$ 6,812,931	6,723,778	3,336,906
Oil and Gas Properties [Member] | Previously Reported [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross			6,723,778
Corporate Segment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross				$ 42,436
Corporate Segment [Member] | Previously Reported [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross
Vehicles [Member]
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 63,918

SCHEDULE OF RECOVERABLE AMOUNT

SCHEDULE OF RECOVERABLE AMOUNT (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Non-current Assets
Assets held for sale, Oil and gas properties		$ 2,714,341
Liabilities held for sale, Decommissioning liabilities		$ 1,591,097

NON-CURRENT ASSETS (Details Nar

NON-CURRENT ASSETS (Details Narrative)	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2022 USD ($)	Mar. 31, 2022 USD ($)	Jun. 30, 2021 USD ($)	Mar. 31, 2021 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2020 USD ($)	Sep. 30, 2021 $ / shares
Holding working interest by parent	100%	100%			100%		100%			100%
Reclamation bonds	$ 145,052	$ 145,000			$ 145,000		$ 145,052			$ 144,847	$ 194,750
Forfeiture of reclamation deposit			$ (318)	$ 50,483		$ 50,483		$ 50,165		50,165
Depletion and depreciation					$ 88,895	$ 9,238	$ 161,988	$ 21,955		60,479	$ 37,291
Stock Issued During Period, Value, Acquisitions										$ 2,468,750
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					1.50%		1.50%				0.78%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term					10 years		10 years				10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate					96.56%		96.56%				120%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate
Long-Term Debt and Lease Obligation, Current										$ 10,000
Gain (Loss) on Termination of Lease										604,687
Loss on disposal of equipment										8,770
Impairment, Long-Lived Asset, Held-for-Use											$ 879,070
Assets and liabilities held for sale										$ 1,123,244
Fair Value Adjustment of Warrants					$ 202,009				$ 202,009
Permex Petroleum US Corporation [Member]
Net revenue interest rate										81.75%
Business Acquisition, Percentage of Voting Interests Acquired										100%
Stock Issued During Period, Shares, Acquisitions | shares										416,666
Business Acquisition, Name of Acquired Entity										Permex Petroleum US Corporation
Permex Petroleum US Corporation [Member] | Common Stock [Member]
Stock Issued During Period, Shares, Acquisitions | shares										416,666
Stock Issued During Period, Value, Acquisitions										$ 2,468,750
Permex Petroleum US Corporation [Member] | Share Purchase Warrant [Member]
Stock Issued During Period, Shares, Acquisitions | shares										208,333
Stock Issued During Period, Value, Acquisitions										$ 1,051,370
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate										1.51%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term										10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate										96.56%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate										0%
Fair Value Adjustment of Warrants										$ 1,051,370
Permex Petroleum US Corporation [Member] | Share Purchase Warrant [Member] | October 1, 2031 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share)										$ 9.42		$ 12
Permex Petroleum US Corporation [Member] | Share Purchase Warrant [Member] | September 30, 2031 [Member]
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share)										$ 8.76		$ 12
Oil and Gas Properties [Member] | TEXAS
Net revenue interest rate	71.90%	71.90%			71.90%		71.90%			71.90%
Oil and Gas Properties [Member] | NEW MEXICO
Royalty interest rate	81.75%	81.75%			81.75%		81.75%			81.75%

SCHEDULE OF DECOMMISSIONING OBL

SCHEDULE OF DECOMMISSIONING OBLIGATIONS (Details) - USD ($)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset retirement obligations, beginning of the year	$ 552,594	$ 552,594	$ 271,402	$ 1,942,075
Obligations acquired			258,726
Obligations derecognized			(125,511)	(116,192)
Change in estimates			117,921
Accretion expense	16,476	24,714	19,907	49,700
Reclassification to liabilities held for sale				(1,591,097)
Foreign exchange movement			10,149	(13,084)
	569,070	577,308	552,594	271,402
Decommissioning obligations, beginning of the year	552,594	552,594	271,402
Decommissioning obligation	$ 569,070	$ 577,308	$ 552,594	$ 271,402

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Asset Retirement Obligation	$ 125,511	$ 116,192
Asset retirement provision	112,317	105,777
Debt Securities, Available-for-Sale, Gain (Loss)	13,194	$ 10,415
Previously Reported [Member]
Asset retirement provision	$ 112,317

DEBT (Details Narrative)

DEBT (Details Narrative)	1 Months Ended		3 Months Ended		6 Months Ended			9 Months Ended			12 Months Ended
	May 31, 2020 USD ($)	May 31, 2020 CAD ($)	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($) $ / shares	Mar. 31, 2021 USD ($)	Mar. 31, 2020 USD ($)	Jun. 30, 2022 USD ($) $ / shares	Jun. 30, 2022 CAD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2021 USD ($) $ / shares	Sep. 30, 2021 CAD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2022 CAD ($) $ / shares	Mar. 31, 2022 CAD ($) $ / shares	Sep. 30, 2021 CAD ($) $ / shares	Sep. 30, 2020 CAD ($)	Feb. 21, 2020 USD ($)	Feb. 21, 2020 CAD ($)
Short-Term Debt [Line Items]
Accrued interest					$ 3,688	$ 9,768		$ 6,285		$ 11,116	$ 13,506		$ 13,991
Repayments of Debt											79,000	$ 100,000
Interest Paid, Excluding Capitalized Interest, Operating Activities					18,960	$ 13,090	$ 13,090	18,960		13,090	13,090
Convertible Debt, Current			$ 77,600		$ 80,000			77,600			$ 78,500		75,000	$ 100,000	$ 100,000	$ 100,000
Repayments of Short-Term Debt								23,700	$ 30,000
[custom:ForgivenessOfLoanPayable]			$ 7,900					$ 7,900	$ 10,000
Loans Payable [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description	December 31, 2023 convert to two-year term	December 31, 2023 convert to two-year term
Debt Instrument, Interest Rate, Stated Percentage		5%
Proceeds from Loans	$ 32,000	$ 40,000
Loans Payable to Bank, Current		$ 60,000
Loans Payable [Member] | CEBA [Member]
Short-Term Debt [Line Items]
Proceeds from Loans	$ 30,000
Convertible Debt [Member]
Short-Term Debt [Line Items]
Debt Instrument, Maturity Date, Description					maturity date of September 30, 2021 and February 20, 2022			maturity date of September 30, 2021 and February 20, 2022	maturity date of September 30, 2021 and February 20, 2022		maturity date of September 30, 2021 and February 20, 2022	maturity date of September 30, 2021 and February 20, 2022
Debt Instrument, Interest Rate, Stated Percentage			12%		12%			12%			12%			12%	12%	12%
Debt Instrument, Convertible, Conversion Price | (per share)			$ 7.20		$ 7.20			$ 7.20			$ 7.20			$ 9	$ 9	$ 9
Debt Instrument, Term					3 years			3 years	3 years		3 years	3 years
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share)			$ 9.60		$ 9.60			$ 9.60			$ 9.60			$ 12	$ 12	$ 12
Convertible Debt, Current			$ 77,600		$ 80,000			$ 77,600			$ 78,500			$ 100,000	$ 100,000
Notes Payable			$ 4,241					$ 4,241			$ 15,176
CEO and Director [Member] | Convertible Debenture [Member]
Short-Term Debt [Line Items]
Convertible Debt																		$ 150,000	$ 200,000
CEO and Director [Member] | Convertible Debentures [Member]
Short-Term Debt [Line Items]
Convertible Debt													$ 157,000				$ 200,000	$ 157,000	$ 200,000

SCHEDULE OF UNDISCOUNTED FUTURE

SCHEDULE OF UNDISCOUNTED FUTURE LEASE PAYMENTS (Details) - USD ($)	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
2022	$ 13,785	$ 27,921	$ 55,402
2023	31,643	32,288	31,885
Total lease payments	$ 45,428	$ 60,209	$ 87,287

SCHEDULE OF COMPONENTS OF LEASE

SCHEDULE OF COMPONENTS OF LEASE EXPENSE (Details) - USD ($)	6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Fixed lease expense	$ 27,774	$ 16,389	$ 41,661	$ 30,194	$ 43,932	$ 20,962
Variable lease expense	5,744	3,747	13,246	4,597	10,404	6,048
Total	$ 33,518	$ 20,136	$ 54,907	$ 34,791	$ 54,336	$ 27,010

SCHEDULE OF LEASE LIABILITY (De

SCHEDULE OF LEASE LIABILITY (Details) - USD ($)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Beginning balance	$ 78,949	$ 78,949	$ 53,128
Addition			57,357	66,432
Interest expense	4,169	5,714	9,812	7,233
Lease payments	(27,145)	(41,857)	(43,932)	(20,962)
Foreign exchange movement			2,584	425
Ending balance	55,973	42,806	78,949	53,128
Current liability	47,559	39,493	51,963	21,202
Long-term liability	$ 8,414	$ 3,313	$ 26,986	$ 31,926

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details Narrative)	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Operating Lease, Weighted Average Remaining Lease Term	11 months 4 days	1 year 1 month 28 days	1 year 7 months 6 days

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)		6 Months Ended		9 Months Ended				12 Months Ended
	May 01, 2022 USD ($)	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Jun. 30, 2022 USD ($)	Sep. 30, 2021 USD ($)	Jun. 30, 2021 USD ($)	Sep. 30, 2020 USD ($)	Sep. 30, 2021 USD ($)	Sep. 30, 2021 CAD ($)	Sep. 30, 2020 USD ($)	Jun. 30, 2022 CAD ($)	Mar. 31, 2022 CAD ($)	Sep. 30, 2021 CAD ($)	Sep. 30, 2020 CAD ($)	Feb. 21, 2020 USD ($)	Feb. 21, 2020 CAD ($)
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Repayments of Convertible Debt			$ 2,730			$ 79,000
Accrued interest				4,241	$ 15,176		$ 14,104	$ 15,176		$ 14,104
Convertible Debt, Current		80,000		77,600	78,500		75,000	78,500		75,000	$ 100,000	$ 100,000	$ 100,000
Amounts to related parties					1,321		145,063	1,321		145,063
CEO and Director [Member] | Convertible Debentures [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Convertible Debt							157,000			157,000				$ 200,000	$ 157,000	$ 200,000
Director [Member] | Convertible Debentures [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Repayments of Convertible Debt								79,000	$ 100,000
Accrued interest					13,090			13,090
Chief Executive Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Management fee expense		109,773	$ 75,116	$ 176,989	$ 131	$ 112,478	$ 6,290	$ 149,806		$ 144,288
Salaries and wages	$ 250,000
Related Party Transaction, Description of Transaction	The CEO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to three years of base salary and a bonus equal to 20% of the annual base salary.
Chief Executive Officer [Member] | Employeement Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Salaries and wages		$ 250,000
Related Party Transaction, Description of Transaction		The CEO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to three years of base salary and a bonus equal to 20% of the annual base salary.
Chief Financial Officer [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Salaries and wages	$ 50,000
Related Party Transaction, Description of Transaction	The CFO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to two months of base salary.
Chief Financial Officer [Member] | Employeement Agreement [Member]
Deferred Compensation Arrangement with Individual, Excluding Share-Based Payments and Postretirement Benefits [Line Items]
Salaries and wages		$ 50,000
Related Party Transaction, Description of Transaction		The CFO is also eligible on an annual basis for a cash bonus of up to 100% of annual salary. The employment agreement may be terminated with a termination payment equal to two months of base salary.

SCHEDULE OF STOCK OPTION TRANSA

SCHEDULE OF STOCK OPTION TRANSACTIONS (Details) - $ / shares	6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Number of options, beginning balance	37,917	39,003	37,917	39,003	39,003	42,336
Weighted average exercise price,beginning balance	$ 19.51	$ 18.75	$ 19.51	$ 18.75	$ 18.75	$ 21.58
Granted	55,000		55,000		0	5,000
Weighted average exercise price, granted	$ 10.51		$ 10.51			$ 2.23
Cancelled					(1,086)	(8,333)
Weighted average exercise price, cancelled					$ 23.70	$ 22.32
Number of options, ending balance	92,917		92,917		37,917	39,003
Weighted average exercise price, ending balance	$ 15		$ 15		$ 19.51	$ 18.75
Number of options, exercisable	92,917		92,917		35,417
Weighted average exercise price, exercisable	$ 15		$ 15		$ 20.72
Weighted average fair value of options granted	$ 11.40		$ 11.40			$ 1.69

SCHEDULE OF WEIGHTED AVERAGE AS

SCHEDULE OF WEIGHTED AVERAGE ASSUMPTIONS USED IN THE FAIR VALUE (Details)	6 Months Ended		9 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Equity [Abstract]
Risk-free interest rate	1.50%		1.50%			0.78%
Expected life of options	10 years		10 years			10 years
Expected annualized volatility	96.56%		96.56%			120%
Dividend rate

SCHEDULE OF STOCK OPTIONS OUTST

SCHEDULE OF STOCK OPTIONS OUTSTANDING (Details) - $ / shares	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Offsetting Assets [Line Items]
Number of options	92,917	92,917	37,917	39,003	42,336
Exercise Price	$ 15	$ 15	$ 19.51	$ 18.75	$ 21.58
Stock Option One [Member]
Offsetting Assets [Line Items]
Number of options	27,917	27,917	27,917
Exercise Price	$ 21.90	$ 21.90	$ 23.55
Expiry Date	Dec. 04, 2027	Dec. 04, 2027	Dec. 04, 2027
Stock Option Two [Member]
Offsetting Assets [Line Items]
Number of options	5,000	5,000	5,000
Exercise Price	$ 13.14	$ 13.14	$ 14.13
Expiry Date	Nov. 01, 2028	Nov. 01, 2028	Nov. 01, 2028
Stock Option Three [Member]
Offsetting Assets [Line Items]
Number of options	5,000	5,000	5,000
Exercise Price	$ 2.19	$ 2.19	$ 2.36
Expiry Date	Mar. 16, 2030	Mar. 16, 2030	Mar. 16, 2030
Stock Option Four [Member]
Offsetting Assets [Line Items]
Number of options	55,000	55,000
Exercise Price	$ 10.51	$ 10.51
Expiry Date	Oct. 06, 2031	Oct. 06, 2031

SCHEDULE OF WARRANTS TRANSACTIO

SCHEDULE OF WARRANTS TRANSACTIONS (Details) - $ / shares	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021
Equity [Abstract]
Number of warrants, beginning balance	208,333	208,333	80,087
Weighted average exercise price, beginning balance	$ 9.42	$ 9.42	$ 12.77
Granted	888,763	888,763	208,333
Weighted average exercise price, granted	$ 12.91	$ 12.91	$ 9.48
Warrants expired			(80,087)
Weighted average exercise price, warrants expired			$ 13.46
Number of warrants, ending balance	1,097,096	1,097,096	208,333
Weighted average exercise price, ending balance	$ 12.12	$ 12.12	$ 9.42

SCHEDULE OF WARRANTS OUTSTANDIN

SCHEDULE OF WARRANTS OUTSTANDING (Details) - USD ($)	6 Months Ended	9 Months Ended
	Mar. 31, 2022	Jun. 30, 2022
Class of Warrant or Right [Line Items]
Number of options	$ 1,097,096	$ 1,097,096
Warrant One [Member]
Class of Warrant or Right [Line Items]
Number of options	$ 24,739	$ 24,739
Exercise price	$ 23.65	$ 23.65
Warrants outstanding expiry date	Nov. 04, 2023	Nov. 04, 2023
Warrant Two [Member]
Class of Warrant or Right [Line Items]
Number of options	$ 864,024	$ 864,024
Exercise price	$ 12.60	$ 12.60
Warrants outstanding expiry date	Mar. 29, 2027	Mar. 29, 2027
Warrant Three [Member]
Class of Warrant or Right [Line Items]
Number of options	$ 208,333	$ 208,333
Exercise price	$ 8.76	$ 8.76
Warrants outstanding expiry date	Sep. 30, 2031	Sep. 30, 2000

EQUITY (Details Narrative)

EQUITY (Details Narrative)		3 Months Ended			6 Months Ended			9 Months Ended					12 Months Ended
	Nov. 04, 2021	Jun. 30, 2022 USD ($) $ / shares shares	Mar. 31, 2022 USD ($) $ / shares shares	Jun. 30, 2021 USD ($)	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2022 CAD ($) shares	Mar. 31, 2021 USD ($) $ / shares	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 CAD ($) shares	Sep. 30, 2021 USD ($) $ / shares shares	Jun. 30, 2021 USD ($) $ / shares	Sep. 30, 2020 USD ($) $ / shares shares	Sep. 30, 2022 USD ($)	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2021 CAD ($) shares	Sep. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares
Subsidiary, Sale of Stock [Line Items]
Common Stock, Shares Authorized, Unlimited [Fixed List]			Unlimited		Unlimited	Unlimited		Unlimited	Unlimited	Unlimited		Unlimited		Unlimited	Unlimited	Unlimited
Common stock, par value | $ / shares		$ 0	$ 0		$ 0			$ 0		$ 0		$ 0		$ 0		$ 0
Common stock, shares issued | shares			1,932,604		1,932,604					1,103,010		667,073		1,103,010		667,073
Common stock, shares outstanding | shares		1,932,604	1,932,604		1,932,604			1,932,604		1,103,010		667,073		1,103,010		667,073
Number of shares issued				$ 34,850			$ 20,108				$ 54,958
Number of shares issued in acquisition														$ 2,468,750
Percentage issued and outstanding for common stock		10%	10%		10%			10%		10%				10%
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Remaining Contractual Term					10 years	10 years		10 years	10 years					10 years	10 years
Aggregate intrinsic value of options outstanding and exercisable
Share-Based Payment Arrangement, Option, Exercise Price Range, Shares Outstanding | shares		92,917	92,917		92,917			92,917		37,917				37,917
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit | $ / shares					$ 2.40			$ 2.40						$ 2.36
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit | $ / shares					$ 24			$ 23.40						$ 23.55
Share-Based Payment Arrangement, Option, Exercise Price Range, Outstanding, Weighted Average Remaining Contractual Term					8 years 1 month 17 days	8 years 1 month 17 days		7 years 10 months 17 days	7 years 10 months 17 days					6 years 7 months 6 days	6 years 7 months 6 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value | $ / shares					$ 11.40			$ 11.40								$ 1.69
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross | shares					55,000	55,000		55,000	55,000					0	0	5,000
Share-Based Payment Arrangement, Expense					$ 604,676		$ 1,915	$ 604,861			$ 2,401			$ 2,870		$ 4,175
Share-Based Compensation Arrangement by Share-Based Payment Award, Non-Option Equity Instruments, Outstanding, Number | shares		1,097,096	1,097,096		1,097,096			1,097,096		208,333		80,087		208,333		80,087
[custom:ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageGrantDateFairValue-0]										942%				942%
Warrants and Rights Outstanding		$ 1,097,096	$ 1,097,096		$ 1,097,096			$ 1,097,096
Stock Issued During Period, Value, New Issues		(18,302)	(1,026,093)		$ (1,040,401)			$ (1,058,703)						$ 54,958
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					1.50%	1.50%		1.50%	1.50%							0.78%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term					10 years	10 years		10 years	10 years							10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate					96.56%	96.56%		96.56%	96.56%							120%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate
Payment of Financing and Stock Issuance Costs					$ 8,671
Cash		$ 5,366,789	$ 6,727,758		6,727,758			$ 5,366,789		$ 25,806		$ 5,517		$ 25,806		$ 5,517
Warrant liability					202,009								$ 202,009
Gain on fair value adjustment													$ 152,869
Think Equity LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Other Expenses					$ 131,560			$ 131,560
Class of Warrant or Right, Outstanding | shares		78,548	78,548		78,548			78,548
Cash		$ 754,058	$ 754,058		$ 754,058			$ 754,058
Adjustment of Warrants Granted for Services					$ 858,429			$ 858,429
Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.98%				2.27%	2.27%		3.10%	3.10%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	2 years				1 year 6 months	1 year 6 months		1 year 3 months	1 year 3 months
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	153.02%				143.52%	143.52%		137.67%	137.67%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%				0%	0%		0%	0%
Gain on fair value adjustment					$ 80,031
Non-Brokered Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues | shares					44,117	44,117		44,117	44,117					44,117	44,117
Share price | (per share)		$ 12.96	$ 12.96		$ 12.96			$ 12.96		$ 13.20				$ 13.20			$ 16.20	$ 16.20	$ 16.20
Proceeds from Issuance of Common Stock					$ 571,760	$ 714,700		$ 571,760	$ 714,700					$ 571,760	$ 714,700
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share)		$ 25.80	$ 25.80		$ 25.80			$ 25.80		$ 25.80				$ 25.80			$ 32.40	$ 32.40	$ 32.40
Proceeds from Issuance of Warrants					$ 202,009			$ 202,009						$ 137,946
Warrants and Rights Outstanding		$ 34,733	$ 34,733		$ 34,733			$ 34,733		$ 24,543				$ 24,543
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					0.98%	0.98%		0.98%	0.98%					0.98%	0.98%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term					2 years	2 years		2 years	2 years					2 years	2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate					153.02%	153.02%		153.02%	153.02%					153.02%	153.02%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate					0%	0%		0%	0%					0%	0%
Other Expenses					$ 800			$ 800						$ 800
Non-Brokered Private Placement [Member] | Warrant [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues | shares					2,680	2,680		2,680	2,680
Stock Issued During Period, Value, New Issues					$ 24,543			$ 24,543
Brokered Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues | shares					785,477	785,477		785,477	785,477					785,477	785,477
Share price | $ / shares		$ 9.60	$ 9.60		$ 9.60			$ 9.60		$ 9.60				$ 9.60
Proceeds from Issuance of Common Stock								$ 7,540,580						$ 7,540,580
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares		$ 12.60						$ 12.60		$ 12.60				$ 12.60
Proceeds from Issuance of Warrants					$ 607,170			$ 607,170						$ 607,170
Warrants and Rights Outstanding										$ 858,429				$ 858,429
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate					2.45%	2.45%		2.45%	2.45%					2.45%	2.45%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term					5 years	5 years		5 years	5 years					5 years	5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate					134.66%	134.66%		134.66%	134.66%					134.66%	134.66%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate					0%	0%		0%	0%					0%	0%
Other Expenses					$ 140,475			$ 158,777						$ 140,475
Class of Warrant or Right, Outstanding | shares			7,540,580		7,540,580
Warrants and Rights Outstanding, Term		5 years	5 years		5 years			5 years		5 years				5 years
Brokered Private Placement [Member] | Think Equity LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Other Expenses														$ 131,560
Class of Warrant or Right, Outstanding | shares										78,548				78,548
Cash										$ 754,058				$ 754,058
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of warrants issued with private placement | shares		22,059	22,059		22,059			22,059
Service Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued, shares | shares														19,271	19,271
Number of shares issued														$ 54,958
Property Acquisition Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in acquisition, shares | shares														416,666	416,666
Number of shares issued in acquisition														$ 2,468,750
Previously Reported [Member]
Subsidiary, Sale of Stock [Line Items]
Common stock, shares issued | shares										1,103,010		667,073		1,103,010		667,073
Common stock, shares outstanding | shares										1,103,010		667,073		1,103,010		667,073
Cash												$ 5,517				$ 5,517
Restatement Revised [Member]
Subsidiary, Sale of Stock [Line Items]
Cash		$ 5,366,789	$ 6,727,758		$ 6,727,758			$ 5,366,789		$ 25,806		$ 5,517		$ 25,806		$ 5,517
Restatement Revised [Member] | Service Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued, shares | shares														19,271	19,271
Number of shares issued														$ 54,958
Restatement Revised [Member] | Property Acquisition Agreement [Member]
Subsidiary, Sale of Stock [Line Items]
Number of shares issued in acquisition, shares | shares														416,666	416,666
Number of shares issued in acquisition														$ 2,468,750

SCHEDULE OF BASIC AND DILUTED L

SCHEDULE OF BASIC AND DILUTED LOSS PER SHARE (Details) - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Earnings Per Share [Abstract]
Net loss	$ (888,669)	$ (157,928)	$ (152,960)	$ (196,023)	$ (909,116)	$ (307,356)	$ (1,797,785)	$ (460,316)	$ (1,253,242)	$ (1,253,531)
Weighted average common shares outstanding					1,151,301	675,062	1,411,734	676,474	678,958	667,069
Basic and diluted loss per share	$ (0.46)	$ (0.13)	$ (0.23)	$ (0.29)	$ (0.79)	$ (0.46)	$ (1.27)	$ (0.68)	$ (1.84)	$ (1.88)

LOSS PER SHARE (Details Narrati

LOSS PER SHARE (Details Narrative)	6 Months Ended	9 Months Ended		12 Months Ended
	Mar. 31, 2022 USD ($) shares	Jun. 30, 2022 USD ($) shares	Jun. 30, 2021 shares	Mar. 31, 2022 USD ($) shares	Sep. 30, 2021 USD ($) shares	Mar. 31, 2021 shares	Sep. 30, 2020 USD ($) shares	Jun. 30, 2022 CAD ($)	Mar. 31, 2022 CAD ($)	Sep. 30, 2021 CAD ($)
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Convertible debt current	$ 80,000	$ 77,600		$ 80,000	$ 78,500		$ 75,000	$ 100,000	$ 100,000	$ 100,000
Antidilutive securities, amount		11,111
Common Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities, amount	11,111				11,111
Equity Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities, amount		92,917	39,003	92,917	37,917	39,003	39,003
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities, amount		1,097,096	80,087	1,097,096	208,333	80,087	80,087

SCHEDULE OF RECONCILIATION OF I

SCHEDULE OF RECONCILIATION OF INCOME TAX (Details) - USD ($)	3 Months Ended				6 Months Ended		9 Months Ended		12 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Loss before income taxes	$ (888,669)	$ (157,928)	$ (152,960)	$ (196,023)	$ (909,116)	$ (307,356)	$ (1,797,785)	$ (460,316)	$ (1,253,242)	$ (1,253,531)
Expected income tax recovery at statutory rates									(338,000)	(338,000)
Change in statutory, foreign tax, foreign exchange rates and other									(53,000)	50,000
Permanent differences									1,000	2,000
Adjustment to prior years provision versus statutory tax returns									(11,000)	(13,000)
Unrecognized temporary differences									401,000	299,000
Deferred income tax recovery

SCHEDULE OF DEFERRED TAX ASSETS

SCHEDULE OF DEFERRED TAX ASSETS AND LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Non-capital losses available for future periods	$ 780,000	$ 571,000
Property and equipment	(9,000)	(233,000)
Financing fees	38,000	70,000
Total gross deferred tax assets	809,000	408,000
Unrecognized deferred income tax assets	(809,000)	(408,000)
Net deferred income tax assets

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Financing fees	$ 140,000	$ 254,000
Income tax examination, description	expiration dates between 2041 and 2043
Non-capital losses available for future periods	$ 780,000	571,000
CANADA
Income tax examination, description	expiration dates ranging from 2037 to 2041 and 2037 to 2040
Non-capital losses available for future periods	$ 2,707,000	1,130,000
UNITED STATES
Income tax examination, description	no expiration dates
Non-capital losses available for future periods	$ 213,000
Non-capital losses available for future periods		$ 106,000

EVENTS AFTER THE REPORTING PE_2

EVENTS AFTER THE REPORTING PERIOD (Details Narrative)	6 Months Ended			9 Months Ended			12 Months Ended
	Mar. 31, 2022 USD ($) $ / shares shares	Mar. 31, 2022 CAD ($) shares	Mar. 31, 2021	Jun. 30, 2022 USD ($) $ / shares shares	Jun. 30, 2022 CAD ($) shares	Jun. 30, 2021	Sep. 30, 2021 USD ($) $ / shares shares	Sep. 30, 2021 CAD ($) $ / shares shares	Sep. 30, 2020 USD ($) $ / shares shares	Jun. 30, 2022 $ / shares	Mar. 31, 2022 $ / shares	Sep. 30, 2021 $ / shares
Subsidiary, Sale of Stock [Line Items]
Warrants and Rights Outstanding	$ 1,097,096			$ 1,097,096
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	1.50%	1.50%		1.50%	1.50%				0.78%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	10 years	10 years		10 years	10 years				10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	96.56%	96.56%		96.56%	96.56%				120%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate
Cash	$ 6,727,758			$ 5,366,789			$ 25,806		$ 5,517
Granted stock options | shares	55,000	55,000		55,000	55,000		0	0	5,000
Granted stock options, exercise price | $ / shares	$ 10.51			$ 10.51					$ 2.23
Directors and Consultants [Member]
Subsidiary, Sale of Stock [Line Items]
Granted stock options | shares							55,000	55,000
Granted stock options, exercise price | (per share)							$ 11.40	$ 14.40
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Weighted Average Remaining Contractual Term							10 years	10 years
Chief Executive Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Accrued Salaries, Current							$ 250,000
[custom:CashBonusPercentage]							100%	100%
[custom:SalaryAndBonusPercentage]							20%	20%
Chief Financial Officer [Member]
Subsidiary, Sale of Stock [Line Items]
Accrued Salaries, Current							$ 50,000
[custom:CashBonusPercentage]							100%	100%
Think Equity LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Other Expenses	$ 131,560			$ 131,560
Cash	$ 754,058			$ 754,058
Class of Warrant or Right, Outstanding | shares	78,548			78,548
Non-Brokered Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues | shares	44,117	44,117		44,117	44,117		44,117	44,117
Sale of Stock, Price Per Share | (per share)	$ 12.96			$ 12.96			$ 13.20			$ 16.20	$ 16.20	$ 16.20
Proceeds from Issuance of Common Stock	$ 571,760	$ 714,700		$ 571,760	$ 714,700		$ 571,760	$ 714,700
Class of Warrant or Right, Exercise Price of Warrants or Rights | (per share)	$ 25.80			$ 25.80			$ 25.80			$ 32.40	$ 32.40	$ 32.40
Proceeds from Issuance of Warrants	$ 202,009			$ 202,009			$ 137,946
Payments for Repurchase of Warrants							$ 34,733
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares							2,680
Warrants and Rights Outstanding	$ 34,733			$ 34,733			$ 24,543
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	0.98%	0.98%		0.98%	0.98%		0.98%	0.98%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	2 years	2 years		2 years	2 years		2 years	2 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	153.02%	153.02%		153.02%	153.02%		153.02%	153.02%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%	0%		0%	0%		0%	0%
Other Expenses	$ 800			$ 800			$ 800
Brokered Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Stock Issued During Period, Shares, New Issues | shares	785,477	785,477		785,477	785,477		785,477	785,477
Sale of Stock, Price Per Share | $ / shares	$ 9.60			$ 9.60			$ 9.60
Proceeds from Issuance of Common Stock				$ 7,540,580			$ 7,540,580
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares				$ 12.60			$ 12.60
Proceeds from Issuance of Warrants	$ 607,170			$ 607,170			$ 607,170
Warrants and Rights Outstanding							$ 858,429
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	2.45%	2.45%		2.45%	2.45%		2.45%	2.45%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	5 years	5 years		5 years	5 years		5 years	5 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	134.66%	134.66%		134.66%	134.66%		134.66%	134.66%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%	0%		0%	0%		0%	0%
Other Expenses	$ 140,475			$ 158,777			$ 140,475
Warrants and Rights Outstanding, Term	5 years			5 years			5 years
Class of Warrant or Right, Outstanding | shares	7,540,580
Brokered Private Placement [Member] | Think Equity LLC [Member]
Subsidiary, Sale of Stock [Line Items]
Other Expenses							$ 131,560
Cash							$ 754,058
Class of Warrant or Right, Outstanding | shares							78,548

SCHEDULE OF COST INCURRED IN OI

SCHEDULE OF COST INCURRED IN OIL AND GAS PRODUCING ACTIVITIES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Supplemental Information On Oil And Gas Operations
Acquisition of proved properties	$ 3,699,215
Acquisition of unproved properties
Development costs	9,403	254,299
Exploration costs
Total costs incurred	$ 3,708,618	$ 254,299

SCHEDULE OF OPERATIONS FROM OIL

SCHEDULE OF OPERATIONS FROM OIL AND GAS PRODUCING ACTIVITIES (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Supplemental Information On Oil And Gas Operations
Oil and gas revenues	$ 46,703	$ 682,786
Production costs	(59,671)	(557,624)
Exploration expenses
Depletion, depreciation and amortization	(52,439)	(28,660)
Impairment of oil and gas properties
Result of oil and gas producing operations before income taxes	(65,407)	96,502
Provision for income taxes
Results of oil and gas producing activities	$ (65,407)	$ 96,502

SCHEDULE OF PROVED RESERVES (De

SCHEDULE OF PROVED RESERVES (Details)		12 Months Ended
		Sep. 30, 2021 bbl		Sep. 30, 2021 bbl Mcf		Sep. 30, 2021 Boe bbl		Sep. 30, 2020 bbl		Sep. 30, 2020 bbl Mcf		Sep. 30, 2020 Boe bbl		Sep. 30, 2021 Mcf	Sep. 30, 2021 Boe	Sep. 30, 2020 Mcf	Sep. 30, 2020 Boe	Sep. 30, 2019 bbl	Sep. 30, 2019 Mcf	Sep. 30, 2019 Boe
Supplemental Information On Oil And Gas Operations
Beginning balance		3,706,360		740,180				3,992,240		498,180
Beginning balance, BOE (Barrels)						3,829,723						4,075,270
Revisions		(88,263)	[1]	38,640	[1]			440,160	[2]	251,196	[2]
Revisions, BOE (Barrels)						(81,823)	[1]					482,026	[2]
Discoveries and extensions
Discoveries and extensions, BOE (Barrels)
Sale reserves		(2,826,290)	[3]	(618,650)	[3]			(709,800)	[4]		[4]
Sale reserves, BOE (Barrels)						(2,929,398)	[3]					(709,800)	[4]
Production		(947)		(1,410)				(16,240)		(9,196)
Production, BOE (Barrels)						(1,182)						(17,773)
Purchase of proved reserves	[5]	5,408,560		2,859,590
Purchase of proved reserves, BOE (Barrels)	[5]					5,885,158
Ending balance		6,199,420		3,018,350				3,706,360		740,180
Ending balance, BOE (Barrels)						6,702,478						3,829,723
Proved developed reserves		587,450		587,450		587,450		549,390		549,390		549,390		411,910		82,430		921,410	104,000
Proved developed reserves, BOE (Barrels)															656,102		563,128			938,743
Proved undeveloped reserves		5,611,970		5,611,970		5,611,970		3,156,970		3,156,970		3,156,970		2,606,440		657,750		3,070,830	394,180
Proved undeveloped reserves, BOE (Barrels)															6,046,377		3,266,595			3,136,527
[1]Revisions in 2021 included[2]Revisions in 2020 included[3]During 2021, the Company sold ODC and Taylor properties.[4]During 2020, the Company sold their McMurtry-Loving property.[5]During 2021, the Company purchased

SCHEDULE OF PROVED RESERVES (_2

SCHEDULE OF PROVED RESERVES (Details) (Paranthetiacal)	12 Months Ended
	Sep. 30, 2021 a Boe bbl		Sep. 30, 2021 a Boe Mcf		Sep. 30, 2021 a Boe		Sep. 30, 2020 Boe bbl		Sep. 30, 2020 Boe Mcf		Sep. 30, 2020 Boe		Sep. 30, 2019 Boe
Reserve Quantities [Line Items]
Proved Developed and Undeveloped Reserve, Net (Energy), Period Increase (Decrease)					(81,823)	[1]					482,026	[2]
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates	(88,263)	[1]	38,640	[1]			440,160	[2]	251,196	[2]
Proved Undeveloped Reserves (Energy)	6,046,377		6,046,377		6,046,377		3,266,595		3,266,595		3,266,595		3,136,527
Area of Land | a	1,246		1,246		1,246
Other Nonrenewable Natural Resources [Member]
Reserve Quantities [Line Items]
Proved Developed and Undeveloped Reserve, Net (Energy), Period Increase (Decrease)											120,850
Proved Undeveloped Reserves (Energy)	120,850		120,850		120,850
Oil [Member]
Reserve Quantities [Line Items]
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates | bbl							373,000
Natural Gas [Member]
Reserve Quantities [Line Items]
Proved Developed and Undeveloped Reserves, Revisions of Previous Estimates | Mcf									242,000
[1]Revisions in 2021 included[2]Revisions in 2020 included

SCHEDULE OF NET CASH FLOWS RELA

SCHEDULE OF NET CASH FLOWS RELATING TO PROVED OIL AND GAS RESERVES (Details) - USD ($)		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Supplemental Information On Oil And Gas Operations
Future cash inflows		$ 355,958,000	$ 150,694,000
Future production costs(1)	[1]	(69,683,000)	(50,268,000)
Future development costs		(71,700,000)	(26,263,000)
Future income tax expenses		(57,206,000)	(19,689,000)
Future net cash flows		157,369,000	54,474,000
10% annual discount for estimated timing of cash flows		(84,100,000)	(33,677,000)
Standardized measure of discounted future net cash flows at the end of the fiscal year		$ 73,269,000	$ 20,797,000	$ 40,833,000
[1]Production costs include crude oil and natural gas operations expense, production ad valorem taxes, transportation costs and G&A expense supporting the Company’s crude oil and natural gas operations.

SCHEDULE OF AVERAGE HYDROCARBON

SCHEDULE OF AVERAGE HYDROCARBON PRICES (Details) - $ / shares		12 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2019
Oil [Member]
Reserve Quantities [Line Items]
Average Price	[1]	$ 55.98	$ 40.30	$ 53.60
Natural Gas [Member]
Reserve Quantities [Line Items]
Average Price	[1]	$ 2.95	$ 1.77	$ 2.51
[1]Average prices were based on 12-month unweighted arithmetic average of the first-day-of-the-month prices for the period from October through September during each respective fiscal year.

SCHEDULE OF CHANGES IN DISCOUNT

SCHEDULE OF CHANGES IN DISCOUNTED FUTURE NET CASH FLOWS (Details) - USD ($)	12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Supplemental Information On Oil And Gas Operations
Standardized measure of discounted future net cash flows at the beginning of the year	$ 20,797,000	$ 40,833,000
Extensions, discoveries and improved recovery, less related costs
Sales of minerals in place	(62,682,000)	(7,509,000)
Purchase of minerals in place	125,927,000
Revisions of previous quantity estimates	(1,751,000)	5,099,000
Net changes in prices and production costs	32,573,000	(21,863,000)
Accretion of discount	1,498,000	3,416,000
Sales of oil produced, net of production costs	13,000	(125,000)
Changes in future development costs	(21,339,000)	(919,000)
Changes in timing of future production	(2,580,000)	(5,562,000)
Net changes in income taxes	(19,187,000)	7,427,000
Standardized measure of discounted future net cash flows at the end of the year	$ 73,269,000	$ 20,797,000

SCHEDULE OF VALUATION OF WARRAN

SCHEDULE OF VALUATION OF WARRANTS (Details) - $ / shares		6 Months Ended		9 Months Ended		12 Months Ended
	Nov. 04, 2021	Mar. 31, 2022	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Sep. 30, 2021	Sep. 30, 2020
Risk-free interest rate		1.50%		1.50%			0.78%
Expected life of options		10 years		10 years			10 years
Expected annualized volatility		96.56%		96.56%			120%
Dividend rate
Warrant [Member]
Risk-free interest rate	0.98%	2.27%		3.10%
Expected life of options	2 years	1 year 6 months		1 year 3 months
Expected annualized volatility	153.02%	143.52%		137.67%
Dividend rate	0%	0%		0%
Weighted average fair value of options granted	$ 11.45	$ 6.91		$ 2.88

ASSET RETIREMENT (Details Narra

ASSET RETIREMENT (Details Narrative) - USD ($)	6 Months Ended	9 Months Ended	12 Months Ended
	Mar. 31, 2022	Jun. 30, 2022	Sep. 30, 2021	Sep. 30, 2020
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation, Liabilities Settled			$ 125,511	$ 116,192
Asset Retirement Obligation, Cash Paid to Settle			112,317	105,777
Debt Securities, Available-for-Sale, Gain (Loss)			$ 13,194	$ 10,415