PEDEVCO Corp New (PED) News

Long and strong here with banked gains from years.
Best low hanging fruit at the moment.
I been picking 🍎🍎
Thanks for that detailed post!
-pete

Well I guess the way to do this is to start from 2021 when the Covid farce was over in 2021.

2021 they had to start from their one year standstill on increasing production due to Covid in 2020 and by the end of the year production was rising rather well as the numbers show QoQ


Three Months Ended March 31,2021

Crude Oil (Bbls per day) 690
Natural Gas (Mcf per day) 366
NGL (Bbls per day) 9
Total (Boe per day) 760


Three months ended June 30, 2021

Crude Oil (Bbls per day) 606
Natural Gas (Mcf per day) 613
NGL (Bbls per day) 10
Total (Boe per day) 718


Three Months Ended September 30, 2021

Crude Oil (Bbls per day) 599
Natural Gas (Mcf per day) 622
NGL (Bbls per day) 17
Total (Boe per day) 726


12 months Ended December 31, 2021

Crude Oil (Bbls total production) 228,068
Natural Gas (Mcf total production) 192,052
NGL (Bbls total production) 5,225
Total (Boe per day average) 727


Three Months Ended March 31,2022

Crude Oil (Bbls per day) 864
Natural Gas (Mcf per day) 837
NGL (Bbls per day) 70
Total (Boe per day) 1,074


Three months ended June 30, 2022

Crude Oil (Bbls per day) 873
Natural Gas (Mcf per day) 741
NGL (Bbls per day) 88
Total (Boe per day) 1,085


Three Months Ended September 30, 2022

Crude Oil (Bbls per day) 833
Natural Gas (Mcf per day) 560
NGL (Bbls per day) 34
Total (Boe per day) 960


12 months Ended December 31, 2022

Crude Oil (Bbls total production) 304,507
Natural Gas (Mcf total production) 245,923
NGL (Bbls total production) 19,277
Total (Boe per day average) 999


Three Months Ended March 31,2023

Crude Oil (Bbls per day) 1,148
Natural Gas (Mcf per day) 974
NGL (Bbls per day) 118
Total (Boe per day) 1,428


Three months ended June 30, 2023

Crude Oil (Bbls per day) 1,515
Natural Gas (Mcf per day) 1,659
NGL (Bbls per day) 214
Total (Boe per day) 2,006


Three Months Ended September 30, 2023

Crude Oil (Bbls per day) 965
Natural Gas (Mcf per day) 1,571
NGL (Bbls per day) 149
Total (Boe per day) 1,376


12 months Ended December 31, 2023

Crude Oil (Bbls total production) 382,794
Natural Gas (Mcf total production) 479,533
NGL (Bbls total production) 58,170
Total (Boe per day average) 1,427

This year I think they will add 500-700 BOE per day to the average all depending on just when the 10 wells they are drilling in the DJ Basin with a 70% interest with a partner for 30%. This is a big plus for PED as they have always been at the lower end of the %'s as they were not the operator at this time though it seems they are getting more of a runway to increase production in a much bigger way than they have since 2020.

They were approved and permitted as shown below and they planned on starting drilling with 2 drilling units (As per the companies 2024 Winter Presentation) to cut the time needed to drill down to 1/2 so that the initial production could be in full swing in Q2 2024..

PEDEVCO Announces Approval of D-J Basin Development Plan for Roth 2-11 Wells and Operations Update

HOUSTON, TX / ACCESSWIRE / February 5, 2024 / PEDEVCO Corp. (NYSE American:PED) ("PEDEVCO" or the "Company"), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today announced that it received approval on January 31, 2024 from the Colorado Energy and Carbon Management Commission (ECMC) of the Company's Roth 2-11 Oil and Gas Development Plan (OGDP), which covers 2,560 acres and up to 11 horizontal Niobrara wells in Weld County, Colorado. The Company plans to commence drilling operations in Q2 2024, with initial production anticipated in the second half of 2024.

The seven new wells they participated in @ 18% interest came online in January and during first month of clean up they came in at an impressive 3,176 BO on average per well the lowest being 1233 and the highest 4553 we won't know exactly the production until the release of March/April results all should be in the 10K range some higher some lower with the higher wells having the ability to come to their peaks in the 25K range+ with the normal wells peaking at the same time coming in 15K-16K BO those are per month judging by the history of the field. The other thing that will rise again significantly and will be a payer for a long time going forward is the NG and LNG with the majority of the wells in the field after 3 years still produce in the 15K-20K MCF per month. The LNG's also are abundant in the field with last years numbers 58K Bbls compared to 2022's 19K Bbls. with 2021 coming in at 5K Bbls right now the NG seems inconsequential but when they produce in such high volumes for years it means everytime NG gores back to normalcy which we all know it will with NG Power plants being built around the globe.

The other 6 wells PED has a 5% interest and they were expected to be online by March April at the latest, but Bison is the partner/operator and they seem to be a charge ahead get the job done at least they have in all out previous JV's together.

Also this year they had come on line in mid February the first production of the first three wells drilled with EPM in the Chaveroo field in New Mexico. EPM stated the wells met or exceeded expectations and they wish to participate in all 70 wells planned in the original deal expecting the pace to be 7 wells per year. They have a buy in of $36K per well for a 50% interest covering 1/2 of the drilling/completion/operating costs, the $36K per well is just a buy in. They plan on doing three more wells this year bringing them online by Q4/2024.

Now I bring up some things I wish to point out which is of importance first the sale of the Millnesand fields it sold in November which was a good deal all around as the fields at the moment (as PED has not done much with them focusing on Chaveroo first) were 20% of the costs in the NM fields but only accounted for 5% of the fields production these savings will be felt going forward.

"Decrease in net income primarily due to one-time $4.3 million non-cash loss recognized on the sale of non-core vertical assets in two fields in our Permian Basin Asset and our EOR Operating Company subsidiary in New Mexico, which the Company estimates will reduce its plugging and abandonment liabilities by over $3.2 million, and significantly reduce monthly LOE expenses on our Permian Basin Asset going forward."

So they took a one time write off loss for 2023 with the sale but in reality they are saving all around $3.2M in abandoned/orphaned wells and they save in overall LOE as those fields were expensive to maintain being 20% of costs in the Permian NM. I brought this up as in the Chaveroo field they did re-works etc and increased their production from these measures. In 2023 for the year the had 170119 BO (14,176 per month avg.) for the first month January 2024 the had 17349 BO production 3,175 BO more than their 2023 average of 14,176. NM has not released February 2024 when the three wells came online but going forward obviously we will see a significant increase for the year when these wells hit their peak which should be this month judging from previous wells drilled over the last 4 years in the Chaveroo field.


One other positive is interest rates and with all the cash they have on hand on a continuing basis they collected a very nice bit of interest on their deposits for Q4 2023.

"We earned $422,000 in interest from our interest-bearing cash accounts, for which interest rates have increased significantly in the current period, compared to the prior period. "

This will be a transformative year for Pedevco lower LOE, more production, decent interest received due to high interest rates (love that we are debt free so there is $$ coming in from high interest rates not the other way around. And I think people just overlooked the fact that the write down loss on the Millnesands filed they sold at the end of the day they win, the write down loss hurt the EPS but it really didn't as it wasn't a cash loss and going forward saving the 20% operating costs the field contributed that is going forward a + I think people just saw the $300K profit not taking into account without that write-down it would have been flipped the other way.

I have pointed out everything relevant that I could think of, PED is off to the races now putting holes everywhere and banking those dollars.

Peace out.

excellent for you bro!!! winning long trades aint easy and your killing it!!! i have been trading futures for last few weeks and doing better than i have in last few years,got tired of offerings and mms naked shorting,now i dont have to beat them,i join them and make $ up and down with them

In still in and have never left it, just had to get away from here for a while as the pumping up/pumping down just BS gave me a headache. I like discussion not fear or over hyping I like a slow grind up to where it won't be dropping back hard after the momo's hit it.

But yes I been chatting quite a bit on it with stocktwits but it is turning into what Ihub was (is, I hope not still is) but this is the transformative year for PED, and while they still keep doing the trade game I and many are still loading as it's going to change entirely the way it is looked at etc. I will post something this weekend outlining why and links so one can look for themselves and see the forest and not stare at the trees.

Sorry again for abruptly leaving just kinda had my fill of many on this thing.

I will give it one more go this Spring-December

Annual report

https://www.accesswire.com/843669/pedevco-announces-2023-financial-results

pps was overbought on sept 14th,now its really oversold,gaining interest on news,thought you might want to look at PED again

many deals,they growing co. https://finance.yahoo.com/news/evolution-petroleum-pedevco-enter-strategic-104500402.html

news on this expected also https://finance.yahoo.com/news/pedevco-announces-expansion-wyoming-d-203000303.html

last Q earnings was nov,8th,any day now on next one and year end also,eps up 100%(this year),insiders own 81%,target $2.20,value will get found here,especially if red sea shipping problems continue,oil price will skyrocket as war escalates,china gets 90% of oil from Iran now,new administration USA might start selling oil again,no matter what happens,great potential for PED all things considered

approval,11 new wells,currently 30m sales,1.5m profiting,extremely more valuable now!!!!

http://click.accesswire.com/ls/click?upn=9YMTA-2Brz5ZRD5KiqGaoeU2XhvgYUbcAzXAjcw8Tq2JS5Uwq5876J0zdh8GDi8-2FBLXby9s8Q1snFn-2FvRniTsA57T-2BW37Eip3bZeX5aoKQ-2BKH333pMGFO2mBSe-2BTt2Q1KWOBr4oFz5nX4T6Bd9SsJt4HM4h2iHl7L87O9JTDWxAcjeouJ87WGmqZGWe1nDyWl52UFH_GABHyTAPyxsyR9aMah7lkt6dR2VViB2PO4sekx9HEhla9OlnllC5VxSNUcj2Lwwo9LCiUkUtyhFNgBdNf6ITG5DKd2dd96NUkflTFGQ-2BYa0jmYC4CfyqOg33rJ6yPwjzsSN8WnRu1HAZ-2FPx7ke5uFZRSSU766HJxIJSFYQSQGH0az0Tlv6uK6nS-2BpDRck7biIQz-2B5RqzKRSqQtSoS2BKYw-3D-3D

Company in a tough spot right. Crude oil and nat gas prices have been steady since last reporting quarter (even though NG has increased recently). The question is whether to pump or not pump when prices are on the low side. I would expect revenue to be the same or a little light compared to previous quarter. They just need the cash flow right now.

The insider buybacks have stopped. Stock price is at levels 15-25% below those buybacks. Hopefully none of that stock was bought on margin.

Maybe he buys the whole company eventually or a BO down the road

This thing blows my mind, Q after Q after Q revenues rise, profits rise next 7 wells in CO getting ready to be tapped (PED 18% interest) a new partner for 9 well deal in NM which they already have three permits in hand and the new wells they will start drilling in CO Q1 2024 (PED 70% interest) NG getting ready to start the winter dance, oil rising and Biden and Co doing everything they can to keep the oil price climbing it's ridiculously undervalued. They get a partner to share costs and significantly increase production/drilling in NM 7 new wells with 18% interest will start producing Q4 2023, oil rises $5 a barrel in a week with all knowing it is going to $100 before December and PED rises .05? Then people wonder why Simon is slowly damn near buying the entire company in the market, boggles the mind LOL. I see Simon grabbing another 250-300K shares sooner than later and continuing to do so.

Peace out.

Nice to see there is now a plan and partnership in place to expand production in their New Mexico Permian Basin acreage.

https://www.accesswire.com/783546/evolution-petroleum-and-pedevco-enter-into-strategic-partnership-to-jointly-develop-pedevcos-chaveroo-field-in-the-permian-basin

Nice move today so far

https://ih.advfn.com/stock-market/AMEX/pedevco-PED/stock-news/91812209/form-10-q-quarterly-report-sections-13-or-15d#i2

bottom line profitable wit production up very significantly but realized prices down year over year

futr

futr

$PED comparing other companies to Pedevco

4/19/23
Riley Permian acquired New Mexico assets from Pecos Oil & Gas for $330,000,000
https://rextag.com/blog/Riley-Permian-Secures-330-Million-Acquisition-in-Thriving-New-Mexico-A-Strategic-Move-with-Promising-Returns
Purchase: $330,000,000
Acreage: 11,700 net
boe/d: 7,200


$PED
Market Cap: $76.77M
Acreage: 53,700 net
boe/d: 2,006 * Q2 2023 and growing
debt: $ 0
cash: $19,000,000

$PED In February of this year Permian Resources acquired 4,000 net leasehold acres and 1,100 Boep/d of production for $98 Million.
https://seekingalpha.com/news/3925315-permian-resources-buys-new-mexico-acreage-for-98m-sells-70m-in-properties

In January of this year Ring Energy acquired Stronghold and their 37,000 net acres and 9,100 Boep/d of production for $465 Million.
https://www.ringenergy.com/news-presentations-events/press-releases/detail/180/ring-energy-announces-agreement-to-acquire-strongholds

3/2/23 Riley acquired Pecos
https://pboilandgasmagazine.com/riley-exploration-permian-acquires-oil-gas-assets-in-eddy-county/
$330,000,000 - Acquisition
11,700 - Net Acres
7,200 - Boe/d


$PED
$76.77M - Market Cap!
$19M - Cash!
$0 - Long term debt
53,700 - Leasehold Acres
2,006 - Boe/d Production as of Q2 2023 and growing

PED's $77 Million market cap only values PED at roughly $38K per barrel of production or $1,429 per acre. If you deduct their $19M Cash then PED is only valued at $1,076 per acre.

Sorry about the plug typo. I simple meant long and strong.

Correct bud, and I gave Simon a vote of confidence on the two proxy letters for two accounts, just voted on line. He did not need any extra yes votes, lol. Just the formality. His directors get paid and deserve it. He works for no salary cuz he doesn't need it. He wants to build it to above the radar, and I think he will.

When it ran up to $2.40 in October of 21, I had the sells set high and they filled, so all my shares are essentially free since. I keep a core and flip some when it reaches overbought.

His recent WYO acreage buys are good logic IMO, go where you are welcomed, and let the green energy NM wannabes pound sand, they have plenty of it to play with their toy soldiers in.

When the "electricity for free" insanity calms down, say this winter, we might see some better valuations.

I'm not knocking finding new ways to power. But we are WAY off from plugging the plug and oil, gas and nuclear.

Hold tight. People will wake up.

$PED is under the radar as a small oil and gas E&P company. Oil is now trading at $84 a barrel, and Pedevco is a profitable company when WTI is approximately $58 and higher.

Maybe the market will start to take notice of Pedevco soon.

https://www.investing.com/commodities/crude-oil

$PED (Pedevco) is a profitable company with WTI oil around $58 a barrel. WTI finished today at $82.64.
https://www.investing.com/commodities/crude-oil

Stop the world. I want to get off!

The EIA just reported that, American commercial crude oil stockpiles, plunged last week by 17 million barrels. The largest weekly drop in inventory going back more than 40 years.... and oil is down $2...

LOL

$PED median stock price target $2.28
https://money.cnn.com/quote/forecast/forecast.html?symb=PED#:~:text=PEDEVCO%20Corp%20(NYSE%20American%3APED)&text=The%202%20analysts%20offering%2012,the%20last%20price%20of%200.90

$PED is a profitable company with oil around $58 a barrel. Currently WTI oil futures are trading at $81.64
https://www.investing.com/commodities/crude-oil

$PED markets perception of Pedevco to compared Epsilon Energy. Epsilon is more natural gas heavy where Pedevco is more oil. But just in terms of Market Cap and Revenues at end of Q-1 March 31st, 2023. The average price for oil for Q1 was $72

1st Qtr Revenues:
$PED - $8,164,000
$EPSN - $9,356,276

Market Cap:
$PED - $79 Million
$EPSN - $131 Million

Come on PED!!!!

https://www.marketscreener.com/quote/stock/PEDEVCO-CORP-34571712/news/EF-Hutton-Assumes-PEDEVCO-at-Buy-With-2-40-Price-Target-44269489/

No clue. The company's numbers look good and they keep expanding production. I figured at some point with this trajectory the price will move up.

Thank you , so why doesn't stock move up & down , it just doesn't,
I rather buy dividends stock imo

I asked their IR (Clark) about a possible dividend back in Jan. He replied "there is nothing to disclose on that front to date, noting the Company has not historically paid dividends as it seeks to develop its reserves and grow production revenue.". I replied back " I take it the main goal for the next couple of years at least is to reinvest and keep building the production capacity" and he confirmed that is the plan unless/until the Board direction changes.

Thoughts on tsly paying huge dividends

With ped your just NOT getting PAID!!!

ceo own a ton and stock hasn't moved in long long time
Jmo thanks for pm

Company spent 50% of their cash in Q1. At that rate they only have one quarter of cash left and would necessitate a capital raise (although I think they would spread this out over Q2 and Q3).

Oil prices are in a 1 year decline and that trend needs to be broken.

You hit it on the head with nat
Regarding ped
When ef Hutton talks
No one listens
Ceo keeps buying with no one listening
He got to pump.it
Jmo

E.F. Hutton assumes coverage with $2.40 price target

The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, putting stockpiles down for a second week in a row.

https://www.reuters.com/markets/commodities/oil-ticks-up-drop-us-crude-gasoline-stocks-exceeds-view-2023-06-28/

http://irreach.com/lt.php?c=76399&m=81840&nl=209&s=914ec940822401735f1bb5cf3b5d3043&lid=227902&l=-https--www.aogr.com/magazine/cover-story/treasure-trove-of-targets-giving-permian-independents-ample-development-opportunities

Well ceo is smart enough to own half of co ..and moving to where the oil action is

Check out reii
News from New Zealand
You got to diversify
Send me your thoughts

Sure hope he is buying shares with cash and not margin and using his prior shares as collateral …….

$PED Crude oil inventories in the United States dropped this week by 1.246 million barrels, that included another release of 1.7 million barrels this week from the SPR. Without the SPR sale, that is a potential 3 million barrel drop in inventories.

But oil drops $4 from where is was right before the numbers were released. LOL

Something gotta give...

$PED Feel free to add to the shareholder tracker if you wish. Just curious to see how much of the float is held.

https://docs.google.com/spreadsheets/d/1N0CKiKVoegOuBhwuDnfQ3Qi3KV3pYlxtK9GszffOau4/edit?usp=sharing

Just now out of the truck's 7 hour run from the northern border. Lake of the Woods 40 miles into Canada.

Regarding Simon, I believe he is in great health, and loves what he does. Takes no salary!
PED has no debt and lives within its means.

Think "Legacy" as the SK Trust has the bulk and will run on his plan when he is gone as the core with perhaps royalties from his many patents tied to PED's unique methods of building energy production from his economy of scale formula. He is a wise man in total control, and never puts out fluff PR's to advertise. He lets the numbers speak, and his people do what they do best. I would wager he has well trained his people and trusts them completely.

-some background:
Dr. Simon Kukes has publish more than 60 scientific papers and two books on the oil and gas industry of Russia and the United States. He is also the holder of more than 130 patents, primarily in Oil and Petrochemical Processing.

Kukes acquired Pedevco in June 2018 if I remember correctly... I would think Covid put a hamper on many business plans of 2 years with crazy swings of oil market prices.

So what realistically 3 years into the business plan... Production is continuing to grow...

I am only speculating because of Simon's age... I mean does anyone really think he wants to continue working and growing businesses into his 80's and 90's. I don't know maybe he does.

Again I'm only speculating. Pete may be absolutely right and he wants to continue growing the business larger.

So what year are we in?

Simon Kukes is I believe 76 or 77? Do you really think he is in this for the long term? My personal thought was a probable 5 to 6 yr plan that Covid may have a extended slightly...

Hi.i was buying ped ,however with all his buying the stock failed to hold the dollar mark
Why is the question? Ceo relentlessly buys and stock falls, why aren't funds buying into it, zero debt ,lots of profits any explanation

His stated goal is to build an energy industry giant and his private trust fund owns the lion's share of his position, so no, a sell is NOT logical, and taking it private would give too much profit in taxes too an unfriendly government. His recent purchase in a more friendly Wyoming makes perfect sense. He does not need the New Mexico counter energy nut cases, trying to stop his unique patented methods, which should align with an energy hungry planet, and their state's need for capital to advance their agenda.

JMO,
-pete

I agree but kukes keeps buying in the open market maybe he will take it private