Pedevco Corp. · AMEX:PED
Pedevco — Investor Presentation (February 2025)
23 slides from Pedevco's investor presentation, Feb 4, 2025
Slide 1: Investor Presentation Winter 2025
PEDEVWCO Investor Presentation Winter 2025
Slide 2: Forward-Looking Statements
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, as amended, and Section 21 of the Securities Exchange Act of 1934, as amended. These forward-looking
Slide 3: Strategy & Focus
Strong Balance Sheet, Financial Flexibility and Excellent Liquidity Strategy & Focus Low-Risk Inventory of Growth Opportunities Proven High Rate of Return Unconventional Asset Compliments Low- decline Conventional Asset NYSE American: PED Recent transactions have bolstered positions and accelerated
Slide 4: 2024 A&D Highlights
2024 A&D Highlights = Entered into a five-year Participation Agreement (PA) and Area of Mutual Interest (AMI) with a large private oil and gas company (operator) to accelerate development of 16,900 gross acres in the D-J Basin = ~10,750 net acres held by the two companies, 70% private operator, 30%
Slide 5: 2024 Operational Highlights
2024 Operational Highlights © Participated in 30 non-operated wells in the DJ Basin in late 2023 and 2024 = Eider Unit (7 wells), ~18% working interest = Mottled Unit (6 wells), ~4.5% working interest = Harlequin Unit (6 wells), ~28% working interest = Purcell Units (5 wells), ~6.6% average working
Slide 6: Average Daily Production, Adjusted EBITDA and Total Revenue
Average Daily Production (Boe/d) Adjusted EBITDA ($M) 2,000 1,800 1,600 1,400 1,200 4,000 00 600 400 200 Total Revenue ($M) $35,000 $30,000 $25,000 $20,000 $25,000 $10,000 $5,000, na 2021 $15,860 2021 2022 2022 1,729 $16,094 1427 pane $6,251 $28,977] $15.86 $1.79 23 cisaad 2021 2022 2023 's are for
Slide 7: Highly oil-weighted reserves drive value creation
Highly oil-weighted reserves drive ar End 4 Reserves (SEC Pricing) value creation Reserve Categories oil Gas NGL Total PV-10. @ = 60% oil (79% liquids) (MBbls) (MMcf) © (MBbls) (MBoe) (SM) = $178 million PV-10 (at $75.48 oil price) Proved Developed 2,456 4,337 637 3,816 $74,572 Grow reserves and pro
Slide 8: Industry Consolidation
Industry Consolidation
Slide 9: E&P Sector Consolidation - PED's Role
E&P Sector Consolidation - PED’s Role Challenges facing small E&P companies = Market’s directive that operators must live within cashflow is difficult to achieve for most small growth-oriented companies = A&D market is challenged — bid/ask spreads prevent deals from transacting, Sellers seek PDP PV-
Slide 10: Consolidation of Current Asset Base - D-J Basin
Consolidation of Current Asset Base - D-J Basin D-J Basin Colorado Assets & Offset Operators =e aa mi ¢ PEDEWCO Consolidation Highlights Consolidation in the D-J Basin began in 2021 and has continued through 2025 with Chevron, Civitas, Bison IV, Verdad and others making acquisitions and accelerating
Slide 11: Slide 11
Slide 12: Highlights Acreage
Highlights Acreage ~15,000 Net acres (75% HBP’d) ‘Acreage in rural areas of Weld and Morgan Counties 69 gross wells (22 net wells) 17 gross wells operated (15 net wells) t } Field and Zones 7N 61w-}--7N-60w | 70-55 = Wattenberg Extension, Middle Wattenberg [ + Niobrara A, B & C and Codell - Acreage
Slide 13: Highlights
Highlights ~4,500 Net acres Acreage in rural areas of Laramie County, Wyoming Potential for six operated 1,280-acre DSU’s Looking for partners to co-develop acreage position Field and Zones = Silo Field = Codell (primary) = Niobrara (secondary) Wyoming PEDEWCO |__19N6aw._ | bone a —19N 62. | 18N64W
Slide 14: Offset well performance
Number Prod Max Avg. Unit Name i 1P30 Proppant ofWells Year Boepp* (tb/tt) T_ [oouneneve FD 5 2 [GREEN TEAL FED 5 | 2022 | aasa [3,105 3 [Hae sso 3 | 200 | 940 | 2416 2 “4 [HARLEQUIN 2 | 2001 [790 | 2.895 26 5 toveerreoeso | 5 | 2023 | 73 | 2320 35 | 36 | 31 | 32 | 33 | 30 [BS 6 |aNNamonTeaLren} 2 |
Slide 15: D-J Basin - Permits & Future Development
D-J Basin - Permits & Future Development Gaffney Unit Harlequin Unit 5% WIL 28% WI. Online Q3 2024 6 \ s5/4/3}7//1}6]s]|4 Ll = 7/a[9 froin fia) 7 |e [a] |r| 2fz) a)» 13 |78 |\i7 | 16 | 15/] 14 | 13 [18 | 17] 16 | 15 |\14 | 13 | 18 | 17 | 16 | 15 8N 61 7 8N-60W 7 8N-59W. : 1 19 a | fe 23| 24] 19 | 20
Slide 16: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics 10,000’ Type Well 2 Stream Peak Rate 820 (Boepd) 2 Stream EUR (MBoe) 655 10,000’ Well Net Economics® D&c ($M) $6,500 LOE ($/Boe) $7.10 ROR (%) 100% ROI (disc) 215 Pvi0 (SM) $7,580 Basin acreage position Based on recent well performance offset PEDEVCO's O-J ‘Net workin
Slide 17: Highlights
Highlights ~14,550 Net Acres Large, contiguous leasehold position = Chaveroo Oil Field >49 MMBOE cumulative production ~100% HBP & ~40% deep rights 10 San Andres Hz producers at 100% WI / ~82KNRI 3 Hz producers at 50% WI /~40.5% NR Part ofthe JV with Evolution Petroleum 4 New Hz producers currently
Slide 18: San Andres Development
San Andres Development CHAVEROO FIELD ae asl Develo (ore = 1 13 18 1 16| 15) 14] a3 18 Ey) | 16| 2019-2024 Hz San Andres Development 7s 2a] wv 20| al 2 23] 24] 19 20 2 Recent and Near-Term Development = 13 wells drilled between 2019 - 2024 3 F) FE) a a] Fr Fl Fs) Fr = 4wells spudded in Q1 2025 ~ exp
Slide 19: San Andres Type Curve & Economics
San Andres Type Curve & Economics 5,000’ Infill Type Well 2 Stream Peak Rate 397 (Boepd) 2 Stream EUR (MBoe) 343 5,000’ Well Net Economics D&C (SM) $3,750 LOE ($/Boe) $8.00 ROR (%) >50% ROI (disc) 1.95 Pvi0 (SM) $3,750 © Based on offset Chavero well performance ®Net working interest 100%, net revenu
Slide 20: San Andres' Advantaged Geology
San Andres’ Advantaged Geology San Andres formation production represents ~40% of a vacuum, the 30 billion barrels (Bbbls) of cumulative oil Seminole, ee lam Goldsmith Maljamaar 18 ‘ production in the Permian basin (through June 2015)") * >10 Bbbls cumulative production from more than 120 reservoirs
Slide 21: Stratigraphic
Stratigraphic Northwest Shelf Stratigraphy Period Formation Permian Rustler Tansill Yates Seven Rivers Queen Grayburg Upper San Andres [_Anhydrite Lower P2 San Andres|_ P3 Glorietta Yeso Abo Wolfcamp Pennsylvanian Pennsylvanian Mississippian Mississippian Devonian Devonian, Silurian Fussleman 1007 2
Slide 22: Oil Accumulation & Production History
es Oil Accumulation & Production History Oil was originally trapped in the San Andres by three types of pre-Tertiary traps: Structural, Stratigraphic, and Structurally enhanced Stratigraphic Legacy fields exist where oil accumulated in these traps to form thick oil columns (Main Pay Zones) Early com
Slide 23: Executive and Operations Team
Executive and Op: Oil & Gas Background Dr. Simon Kukes, Executive Chairman and Director Dr. Kukes is a global investor and executive with over 40 years’ experience in the oil industry. Dr. Kukes formerly served as an investor and CEO of Samara-Nafta, a joint venture with Hess Corporation, as CEO and