Slide 1: PEDEVCO Corp. Company Presentation for Roth Conference
PEDEVCO Corp. (PACIFIC ENERGY DEVELOPMENT) NYSE MKT: PED Company Presentation for Roth Conference March 10, 2014
Slide 2: Forward-looking statements
This presentation contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward looking statements are based on our current expectations a
Slide 3: Overview
overview A dynamic, emerging energy company focusing on high-growth, early cash flow energy projects, including shale oil and gas, in the U.S. and Asia. Foocus Shale and conventional oil and gas in the U.S. and Asia strategic partner MIE Holdings Corporation (HK: 1555) – one of the largest independe
Slide 4: Corporate History
Corporate History February 2011 - Pacific Energy Development (“PEDEVCO”) formed by President and CEO, Frank C. Ingriselli, as a private company. April 2012 – Drills first well on Niobrara asset (IP rate of 437 gross BOE/d). May 2012 – PEDEVCO buys 4% WI in Eagle Ford acreage. December 2012 – Spuds 2
Slide 5: Corporate Highlights
Corporate Highlights Proven Management and Operations Team • Strong industry relationships • Developed over 500 horizontal shale wells • Fastest spud to TD in Niobrara • Well costs significantly below AFE Assets Across Prolific Proven Oil Regions United States : • Niobrara • Mississippian Discipline
Slide 6: Management Team
Frank Ingriselli President, CEO • Past President of Texaco International Operations • Past President of Texaco Technology Ventures • Past founder and CEO of Pacific Asia Petroleum, Inc. • Past CEO of Timan Pechora Company • Led team that established the first successful Chinese oil contract by a for
Slide 7: Technical/Operating Experts
Technical/Operating Experts Pacific Energy Technical Services Sean Fitzgerald VP of Business Development • Former Lead Business Development Engineer at Rosetta Resources & Lead Reservoir Engineer at Shell • Led over $350M in completed acquisition including the Mid-Continental, Gulf Coast, Gulf Coast
Slide 8: Board of Directors
Board of Directors Frank Ingriselli President, CEO • President and CEO of Pacific Energy Development (NYSE: PED) • Founder and former President and CEO of Pacific Asia Petroleum • President of Texaco International • President of Texaco Technology Ventures • CEO of Timan Pechora Company • Led team th
Slide 9: Core Assets – High ROR%
Core Assets – High ROR% Eagle Ford Shale Liquids Rich Niobrara WAttenberg Marcellus Shale Super Rich Mississippian (horizontal) Uinta Wasath (V) Bone Spring (1st/2nd) NM Yeso Marcellus Shale SW Liquids Rich Uinta Green River Wolfcamp Midlands Basin Bakken Shale/Three Forks Spanish Bone Spring (3rd)
Slide 10: Current Assets United States Shale Oil
current assets united states shale oil
Slide 11: Core Oil Field Assets
Core Oil Field Assets Focus on developing proven, producing assets Niobrara Asset § ~60,472 gross, 15,387 net acres in Weld and Morgan Counties, Colorado § 20 – 100% working interest + operatorship § 45 producing wells (including 15 after-payout wells) Mississippian Lime Play § 7,006 gross, 3,443 ne
Slide 12: Niobrara Asset Purchase (Mar 2014)
Niobrara Asset Purchase (Mar 2014) • Signed PSA on January 21, 2014 • 14,000 net operated acres • 40 producing wells – 11 operated / 14 non-operated wells – 15 after-pay-out interest wells – 200 BOE/D ($11 MM PDP PV-10) – $6 million of cash flow 2013 to our interest • Closed March 7, 2014 – Effectiv
Slide 13: Niobrara Basin Overview
Niobrara Basin Overview Key Highlights • Located in the Denver-Julesburg (DJ) Basin – PEDEVCO acreage in Morgan and Weld Counties • Neighbors include Noble Energy, Carrizo, Whiting, EOG, Bonanza Creek, Bill Barrett, Synergy and PDC Energy • 60,472 gross, 15,387 Net acres in Wattenberg, Wattenberg Ex
Slide 14: Newly Acquired Acreage (on Resistivity Map)
Newly Acquired Acreage (on Resistivity Map) • 14,000 net total acre • ~921 acres Wattenberg • Highest resistivity • 60+ Ohms • 250,000+ EUR (BOE) • ~6,702 acres Wattenberg Extnsn • Higher resistivity • 30-60 Ohms • 185,000+ EUR (BOE) • ~6,376 acres • Average resistivity • Less than 30 Ohms • ~150,00
Slide 15: Increase in Acreage Quality
Increase in Acreage Quality Newly Acquired Area: Resistivity Range Number of Gross Sections Potential Gross Wells Less than 30 Ohms 30-60 Ohms 60+ Ohms 78 82 18 624 1,300 288 Legacy PEDEVCO Area: 37 8 0 296 128 0
Slide 16: Niobrara Economic Profile
Niobrara Economic Profile Assumptions D&C Costs 30 Day IP Initial Year Decline EUR $3.8 milliion 176 BOE/d 45% 185 MBOE Type Curve Boe/d 200 180 160 140 120 100 80 60 40 20 0 10 20 30 40 50 60 Months IRR SEnsitivity to D&C Costs 70% 60% 50% 40% 30% 20% 10% $75 $80 $85 $90 $95 $100 $105 IRR Oil Price
Slide 17: Mississippian Basin Overview
Mississippian Basin Overview SandRidge Energy Chesapeake Shell Range Resources High Mount PEDEVCO Eagle Energy Plymouth Devon Calyx Horizontal Wells SandRidge Operated Hz Wells Other Operators Hz Wells Vertical Wells SandRidge Acreage Key Highlights • 60+ year history of vertical production with wel
Slide 18: Mississippian Economic Profile
Mississippian Economic Profile Assumptions D&C Costs 30 Day IP Initial Year Decline EUR $3.25 million 300 BOE/d 61% 320 MBOE IRR Sensitivity to D&C Costs Type Curve IRR Sensitivity to EUR
Slide 19: Significant Potential Net Reserve
Significant Potential Net Reserve • PEDEVCO’s current Niobrara and Mississippian assets post acquisition could hold net unrisked reserve potential of over 43 MMboe, stemming from only one primary reservoir in each asset and using 80 acre spacing in the Niobrara and 160 acre spacing in the Mississipp
Slide 20: International Acquisition
International Acquisition World’s 2nd largest oil reserves and 2nd largest oil production. Long history of industry development, foreign investment and established infrastructure and service sector. Politically stable with attractive fiscal terms under concession (royalty / tax). Broad presence of i
Slide 21: PED – Kazakhstan Acquisition
PED – Kazakhstan Acquisition • PEDEVCO entered into agreement in September, 2013 to acquire an interest in 34% of Aral Petroleum which holds a 100% operated working interest in a 380,000 acre contract area in the North Block located in the Pre-Caspian Basin (closing subject to several conditions inc
Slide 22: PED Contract Area Surrounded by Major Production
PED Contract Area Surrounded by Major Production North Block is located in the eastern portion of the Pre-Caspian Basin, an active exploration area with presence of major oil and gas companies.
Slide 23: Pipeline of Opportunities
Pipeline of Opportunities • Opportunities to expand in our core areas: – Down-spacing of well spacing: • 80 to 40 acres/well in Niobrara • 160 to 80 acres/well in Mississippian – Additional formations in Niobrara: • Niobrara C, Codell & Greenhorn • Continued success in Kazakhstan • Strong continued
Slide 24: Contact Information
Contact Information Corporate Headquarters 4125 Blackhawk Plaza Circle, Suite 201 Danville, CA 94506 Tel: (855) PEDEVCO / (925) 271 9314 Corporate website: www.PacificEnergyDevelopment.com Investor Relations Contacts : Liviakis Financial Communications john@liviakis.com 415-389-4670 Stonegate Securi