Slide 1: PEDEVCO Investor Presentation Spring 2023
PEDEVCO Investor Présentation Spring 2023
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: Strong Balance Sheet, 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 Strategic investor and new management team acquired control of the company in June 2018 and eli i
Slide 4: Oil weighted reserves drive value creation
Oil weighted reserves drive value ar End 2022 Reserves (SEC Pricing) “ creation = 72%oil = $374 million PV-10 (at 2022 SEC year-end pricing) Reserves and production growth through operated and non- operated development in D-J Basin and low-risk Permian infill drilling development program Proved Rese
Slide 5: Industry Consolidation
Industry Consolidation
Slide 6: 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 7: Consolidation of Current Asset Base - D-J Basin Activity
Consolidation of Current Asset Base - D-J Basin Activity Wattenberg Field Asset and Offset Operators Consolidation Highlights [Hl PEDEVCO Leasehold © Active Producing Wells Weld Consolidation in the D-J Basin began in 2021 and has continued into 2023 with Civitas, PDC Energy and Bison IV recently an
Slide 8: Northwest Shelf San Andres Play
Northwest Shelf San Andres Play Consolidation Highlights PED is one of only three public companies primarily focused on the horizontal San Andres play. PED in 4 years has acquired over 31,000 net acres in the play. PED has bid on several large asset packages, however current bid/ask spreads have pre
Slide 9: Assets
Slide 10: D-J Basin: ~12,500 Net acres (all HBP'd)
~12,500 Net acres (all HBP’d) { | Advancing NV evelopment = UI opportunites ‘Active 2023 & 2024 development N ‘Acreage in rural areas of Weld and Morgan Counties Operator in 15 DSUs and holds 50+% WI in two other DSUs, collectively representing over 80% of im¥ | net acreage 92 gross (24 net) wells 1
Slide 11: D-J Basin Development Potential
Va mant Potantia )vevetopimernt P otential D-J Basin Stratigraphic Column Includes Multiple Formation Targets for Horizontal Development Up to Five Stacked Pay Zones Illustrative Downspacing (16 wells per section) Potential for 24 wells per sec "
Slide 12: Wells Completed since January 2021 along with Planned Development
Wells Completed since January 2021 along with Planned Development ms it (lb/ft) 28 | 27 | 26 | 25 | 30 | 29 | 28 | 27 | 26 | 25 | 30 1 [boldeneye Fed 4,159 — 2_fHunt 4 [2021] 1,251 | 2,503 33 | 34 | 35 | 36 | 31 Ee 3 [pigMountainviper| 7 | 2021| 1,199 | 2,492 a[al2]fi[e afsj2|i]s 4 [Schneider 6 | 20
Slide 13: D-J Basin - Wattenberg Extension Permits & Future Development
D-J Basin - Wattenberg Extension Permits & Future Development WI average >80% in 2DSU's Expected Non-Op J é Development for | sow. 8N-62W 7} 8N-6t Ile 8N 60W. p ‘li ] 20 | 21 | 22 [23 }244) 19 | HO Vor | 22\| 23 | 2a 7a/|)e5|| 7) | (adamial ilaa ||| 24 29 | 28 26//] 25 9@ 28 | 27 | 26 | 25 28 | 27 |
Slide 14: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics RSS, 10,000’ Type Well had 2 Stream Peak Rate 820 Pee (Boepd) De (%) 95% e818 B-factor 115 ij Dm (%) Th 2 Stream EUR (MBoe) 604 10,000" Well Net Economics® D&C ($M) $6,500 LOE ($/Boe) $5.50 ROR (%) >100% ROI (disc) 24 PVI0 ($M) $9,255 js le 7 Based on recent well perf
Slide 15: Highlights Acreage Leasehold Map
Highlights Acreage Leasehold Map ~31,000 Net Acres 7 7 we . = Average acreage cost ~$440/acre TT iA Large, contiguous leasehold position . ia ot | “| Acquired ~18,000 gross D ok Et i] ~ Chaveroo & Milnesand Oil Fields acres and 3 Hz producers I : . . ‘i ‘i : costae ‘Acquired >49 MMBOE cumulative pro
Slide 16: San Andres Development
San Andres Development a Bl 2 a ES CHAVEROO FIELD a F) 2 al "== 2023 Potential Development Wells == 2021/2022 Completed Wells sm Existing San Andres Hz Wells, Recent and Near-Term Development = Drilled two wells in 2021, completed in 2022 H = Preparing to di 3 wells in 2023 gent on D-J Basin develop
Slide 17: San Andres Type Curve & Economics
San Andres Type Curve & Economics 5,000’ Infill Type Well Hla i5\ 3) 2 Stream Peak Rate 397 uy (Boepd) | De (%) 92% BEE B-factor 13 fd Dm (%) 8% 2 Stream EUR (MBoe) 341 5,000’ Well Net Economics™ a8 D&C ($M) $3,500 LOE ($/Boe) $7.50 ROR (%) 50% ui ROI (disc) 9 | PVI0 ($M) $3,227 Derived from Decembe
Slide 18: 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 19: 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 20: San Andres Production History
& Production History n Andres Oil Accumulati 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 21: 2022 Development Plan Recap
2022 Development Plan Recap Drilled and completed 2 company operated (100% working interest) horizontal San Andres wells on our Permian Basin asset = Drilling began in late 2021 and finished in early 2022, completions in early 2022 = First production March 2022 = Participated in the drilling and com
Slide 22: 2023 Development Plan
2023 Development Plan = Capital expenditures for drilling and completion costs on our D-J Basin and Permian Basin assets are highly fluid and currently estimated to range between $23 million to $33 million and include: 2022 Carryover for drilling and completion costs of eight non-operated horizontal
Slide 23: Executive Team with a Strong Oil & Gas Background
ive Team with a Strong Oil & Gas Back ‘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. Fr