He left in August 2006 and was appointed Darlington boss two months later.
Penney's Darlington have faced an uncertain future since the club went into administration and had 10 points deducted in February.
The Quakers were in contention for a promotion place this season before having their points taken away.
Penney told BBC Radio Manchester he would speak to the outgoing manager as a priority.
"I'll pick Joe Royle's brains," he said. "I'll do the same with Tommy Wright, Lee Duxbury and Tony Philiskirk as well as anybody that I can to get some feedback from and find a lot more about the club quite quickly.
"I'm going to have a chat with everyone. I played with Tommy at Doncaster so I know him quite well and he doesn't live far from me."
Meanwhile, Royle has dismissed suggestions he may have stayed at Oldham beyond the end of the season.
He told BBC Radio Manchester: "I came to Oldham specifically to see the club through nine games to buy time to find a manager.
"They needed breathing space to have a look at CVs of the managers in the frame and I was very much a caretaker.
"There is always an 'if' factor in football and if we had won six games in a row and gone into the plays-offs, who knows? But I only ever came for nine games."
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