Pedevco Corp. · AMEX:PED
Pedevco — Investor Presentation (January 2024)
22 slides from Pedevco's investor presentation, Jan 18, 2024
Slide 1: Investor Presentation Winter 2024
PEDEVCO Investor Présentation Winter 2024
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-lookin
Slide 3: Strategy & Focus
Strong Balance Sheet, Financial Flexibility and Excellent Liquidity Strategy & Focus Low-Risk Inventory of Growth Opportunities Legacy Fields with Shallow Decline and Substantial OOIP NYSE American: PED Recent transactions have bolstered positions in high return areas (DJ Basin acquisitions in Wyomi
Slide 4: Highly oil weighted reserves drive value creation
Highly oil weighted reserves drive value creation = 67% oil (81% liquids) = $232 million PV-10 (at $78.22 oil (> ar End Reserves (SEC Pricing) “? Reserve Categories (MBbls) (MMcf) Oil Gas NGL Total Py-10 @ (MBbls) — (MBoe) ($M) price) Proved Developed 2,571 4,227 399 3,675 $82,688 Grow reserves and
Slide 5: 2023 A&D Highlights
2023 A&D Highlights = Entered a new focus area with our expansion into the Wyoming Codell Play of the D-J Basin = Acquired over 4,800 net leasehold acres in the play offsetting several successful operators’ positions "Organically grew our Colorado D-J Basin acreage position from “12,300 net acres to
Slide 6: 2023 Operational Highlights
2023 Operational Highlights © Participated in 14 non-operated wells in the DJ Basin in late 2022 that made significant production impact in Q1 and Q2 2023 = Barracuda Unit (6 wells), 35.8% working interest = Ross Unit (8 wells), 4.7% working interest = Participated in 13 non-operated wells in the Co
Slide 7: Industry Consolidation
Industry Consolidation
Slide 8: E&P Sector Consolidation - PED's Role
E&P Sector Consolidation - PED’s Role Challenges facing small E&P companies + Volatile oil and gas prices from 2014 until 2021 significantly impaired the ability for small operators to be consistently profitable (asset level returns comparable to larger companies; corporate returns are lower due to
Slide 9: Consolidation of Current Asset Base - D-J Basin Activity
Consolidation of Current Asset Base - D-J Basin Activity D-J Basin Colorado and Wyoming Assets & Offset Operators Consolidation Highlights ee = Consolidation in the D-J Basin began in 2021 and has continued through 2023 with Chevron, Civitas and Bison IV recently announcing several large transaction
Slide 10: Assets
Slide 11: Highlights Acreage
Highlights Acreage ~14,200 Net acres (all HBP’d) vt Acreage in rural areas of Weld and Morgan Counties Wirt r vA Operator in ten 1,280-acre DSUs attenbard 92 gross (26 net) wells 18 gross (16 net) operated wells 12.75 MMBOE proved reserves YE2023 Field and Zones = Wattenberg Extension, Middle Watten
Slide 12: D-J Basin Wyoming Overview
D-J Basin Wyoming Overview * ~4,800 Net acres mie Coun = Acreage in rural areas of Laramie County Wyoming = Potential for six operated 1,280-acre DSU's = 0.55 MMBOE proved reserves YE2023 * Field and Zones + Silo Field = Codell (primary) = Niobrara (secondary) Ty [rors °° ot | A ole o 4 = J 7 Ile e
Slide 13: Exception
. Eycantion } Exception t cn ca 6 . 1 _[GOUDENEYE FED s__ | 20a | 1478 | iss 1 a | 3s | 3 2 a4 | 35 > 2 °° || [72 Iscuneiwer 1416 6 | 2021 | 1289 [2371 3 _|GREEN TEAL FED S| 202 | 1154 | 3105, e|s | 51s 4_|WunTs-60-8.17-20, ao | 2021 [1143 | 2500 = ; ale : 5 _[BIGMOUNTAINViERs's3|_7 | 2021 | 1137 |
Slide 14: D-J Basin - Wattenberg Extension Permits & Future Development
D-J Basin - Wattenberg Extension Permits & Future Development 6 5 Wlaverage>so%in J 6 = 85 4 #3 2 146 Ross Unit ~5% WI. 1fe/s5/4/3]2] 4 2DSU’s | Online Q1 2023 | | | 7/8/9 Tay] 7 2 {3 10 11 | 12 gy] 9 | 10 a ee | = : 18 | 17 | 16 |MSiiuiamieasyy 18 | 17 ) 6/ 14 | 13 17} 16 | 15 %. 13 ]18 | 17 {16/15
Slide 15: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics 2 Stream Peak Rate 820 (Boepd) Di (%) 1h% B-factor 115 Dm (%) ™% 2 Stream EUR (MBoe) 626 D&C ($M) $6,100 LOE ($/Boe) $5.50 ROR (%) >100% riers ROI (disc) 25 = PVI0 ($M) $9,130 a @ Based on recent well performance offset PEDEVCO's D-J Basin acreage position Net working
Slide 16: Highlights Acreage Leasehold Map
Highlights Acreage Leasehold Map ~22,400 Net Acres BE BE ME 7 7 a 4 — J — = Average acreage cost ~$440/acre Large, contiguous leasehold position rr a | yf = Chaveroo Oil Field s| 7 7 7% >49 MMBOE cumulative production 100% WI / -82% NRI 100% HBP & ~40% deep rights ay a | 3 10 San Andres Hz producers
Slide 17: San Andres Development
San Andres Development a Bl 2 a ES CHAVEROO FIELD a F) 2 al ‘=== 2024 Potential Development == 2023 Wells mmm 2019-2022 Hz San Andres Development Recent and Near-Term Development = 10 wells drilled between 2019 - 2022 = 3 wells drilled and completed in Q4 2023 — expected first production January 202
Slide 18: San Andres Type Curve & Economics
San Andres Type Curve & Economics il 2 Stream Peak Rate 397 Paid (Boepd) Di (%) 37% B-factor 13 ip Dm (%) 8% 2 Stream EUR (MBoe) 343 | D&C ($M) $3,100 LOE ($/Boe) $7.50 ROR (%) 75% ROI (disc) 23 PVIO ($M) $4,072 © Based on offset Chaveroo well performance. Net working interest 100%, net revenue inte
Slide 19: San Andres' Advantaged Geology
San Andres’ Advantaged Geology = San Andres formation production represents ~40% of Wasson, wan, the 30 billion barrels (BBLs) of cumulative oil Seminole, oe tn, Goldsmith Maljamaar - ‘ production in the Permian basin (through June 2015)") * >10 BBLs cumulative production from more than 120 reservoi
Slide 20: Stratigraphic Column
Stratigraphic Column a 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 Fusslem
Slide 21: San Andres Oil Accumulation & Production History
n Andres Oil Accumulati & 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
Slide 22: Executive Team with a Strong Oil & Gas Background
ive Team with a Strong Oil & Gas Back Dr. Simon Kukes, CEO & Director Dr. Kukes is a global investor and executive with over 40 years’ experience in the oil industry. He served as the principal of his personal investment company, SK Energy LLC, from April 2013 until its dissolution in December 2022.