PEDEVCO (PED) Registration Filing summary

Company overview and business model

• Focuses on acquiring and developing oil and natural gas assets using modern drilling and completion technologies, targeting legacy proven properties with existing infrastructure in the Permian Basin (West Texas, eastern New Mexico) and Denver-Julesberg Basin (Colorado, Wyoming).

• Holds approximately 22,721 net acres in the Permian Basin and 19,244 net acres in the D-J Basin as of June 30, 2024, with interests in 303 gross (301.5 net) wells in the Permian and 110 gross (26.2 net) wells in the D-J Basin.

• Strategy centers on optimizing current assets, expanding acreage near core holdings, and leveraging technical expertise for accretive acquisitions.

• Emphasizes operational control, application of advanced drilling techniques, and financial flexibility to pursue both organic and external growth.

Financial performance and metrics

• As of September 11, 2024, public float is approximately $28.4 million, with 89,495,267 shares outstanding and 26,281,123 shares held by non-affiliates.

• Common stock closing price was $1.08 per share on July 22, 2024, and $0.8796 per share on September 10, 2024.

• Aggregate market value of common equity held by non-affiliates is below $75 million, limiting public primary offerings to one-third of public float in any 12-month period.

Use of proceeds and capital allocation

• Net proceeds from securities sales will be used for working capital and general corporate purposes.

• May allocate a portion of proceeds to acquire or invest in complementary businesses and assets, though no current commitments exist.

• Pending use, proceeds will be invested in short-term, interest-bearing, investment-grade securities.