Pedevco Corp. · AMEX:PED
Pedevco — Investor Presentation (March 2019)
21 slides from Pedevco's investor presentation, Mar 11, 2019
Slide 1: Well-Positioned to Deliver Profitable Growth
@: cl be - nergy NYSE American: PED Well-Positioned to Deliver Profitable Growth March 2019
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 21E of the Securities Exchange Act of 1934, as amended. These forward-lookin
Slide 3: Investment Highlights
Strong Balance Sheet with Financial Flexi New Focus, New Experienced Management Team with Strong Track Record Legacy Fields with Shallow Decline and Substantial OOIP Low-Risk Inventory of rowth Opportunities t Highlights NYSE American: PED (~45MM shares outstanding, ~$90MM Market Cap, No Debt) Maint
Slide 4: Meaningful Proved Reserve Profile
Meaningful Proved Reserve Profile Highly oil weighted reserves drive Year End 2018 Reserves (SEC Pricing) value creation Reserve Categories oil Gas NGL Total ~—-PV-10 (MBbls) (MMcf) (MBbls) (MBoe) ($M) = ~93% oil * $181 million PV-10 Proved Developed Producing 435 341 7 508 $7,947 Grow reserves and
Slide 5: Asset Overview
Asset Overview
Slide 6: Highlights Acreage Leasehold Map
Highlights Acreage Leasehold Map ne ne uae 8e 41,705 Net Acres : 4 4 Sie Large, contiguous leasehold position = Chaveroo & Milnesand Oil Fields 48 MMboe Production . a ~ 1 ‘TcHavéroo! 100% WI /~81% NRI 2 a a a +} f <r 100% HBP & ~40% deep rights 4 Active San Andres Hz Completions Ppa 12MMboe Proved
Slide 7: San Andres Advantaged Geology
San Andres Advantaged Geology | World-Class Reservoin = Knownrecovery of 6.7 billion barrels of oil Wasson, Vacuum, Seminole, Gbg-dk « Well-established, conventional carbonate Goldsmith Maljamaar bee reservoir composed of porous dolomite with multiple high permeability zones * 110 billion barrels of
Slide 8: San Andres Advantaged Geology: Stratigraphic Column and Log
San Andres Ad Stratigraphic Column e Log Northwest Shelf Stratigraphy Period Formation Rustler Tansill Yates Seven Rivers Queen Grayburg Upper San Andres 4200’ |_Anhydrite Permian PI Lower P2 San Andres P3 P< fod DS - Qa (to D fol @® @ Oo = {o D = c [oe = = ar allay 4100’ | P5 Glorietta Yeso Abo Wol
Slide 9: Differentiating Main Pay Zones and Transition Oil Zones
T) 7 Differentiating Main Pay Zones and Transition Oil Zones San Andres 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 accumulate
Slide 10: San Andres Horizontal Infill Performance
Well Count, Oil Rate (BOPD) San Andres Horizontal Infill Performance ® Months * = Infill Type Curve Peak IP30 (BOPD) 420 Di (%) 70 B-factor 14 OIL EUR (MBO) 540 EUR (MBOE) 650 &, Well Count, Oil Rate (BOPD) Peak IP30 (BOPD) 250 Di (%) 65 B-factor 14 OIL EUR (MBO) 340 EUR (MBOE) 410 © Performance ana
Slide 11: Horizontal San Andres Activity
Horizontal San Andres Activity REE Naathe —~ = Active San Andres HZ drilling and/ Bites a tote Tae Horizontal San Andres play results have varied significantly Primarily due to reservoir quality, water saturations and completion design Differentiated acreage position Superior reservoir quality with
Slide 12: DJ Basin Overview
DJ Basin Overview Highlights se ~12,000 Net Acres ea a Operated position & Non- - z a biter operated participation with AN reputable operators SES a5 4 65 gross (21 net) wells 18 gross (16 net) operated wells = as as = 23 Sone Field and Zones idee Wattenberg Core and Extension t Niobrara A, B &C and
Slide 13: DJ Basin Development Potential
DJ Basin Development Potential DJ Basin Stratigraphic Column Includes Multiple Formation Targets for Horizontal Development Up to Five Stacked Pay Zones Illustrative Downspacing (16 wells per section) AAAAR | che | [| cool ra Codell Potential for 24 wells per section Legacy Asset with Meaningful Ups
Slide 14: Enhanced DJ Basin Well Performance
Enhanced DJ Basin Well Performance The great majority of the AMI wells were drilled prior to 2015 -Improvil 4
Slide 15: 2019-2020 Development Plan
2019-2020 Development Plan 15
Slide 16: 2019-2020 Capital Expenditure Budget
2019 - 2020 Capital Expenditure Budget Capital Spend by Category (AILS figures in millions) Drilling and Completion Phase I: 4 Hz. Wells (Chaveroo)” Phase II: 4 Hz. Wells (Chaveroo)® Phase II: 4 Hz. Wells (Milnesand) DJ-Basin (Non-Op): 3 Gross Hz. Wells Facilities & Infrastructure“ $5.0 Total © ~ $5
Slide 17: Benchmark performance and optimize drilling & completions
Benchmark performance and optimize drilling & completions to achieve ultimate potential » Evaluate lateral orientation by drilling South to North and North to South Fracture Diagnostics to optimize future frac size, number of stages, and stage spacing Confirm lateral landing target based on oil cut,
Slide 18: Program Overview (2019-2020)
t (2019 - 2020) Program Overview Continuation of the Hz. Infill program in both Chaveroo and Milnesand fields Grow reserves and production through low-risk San Andres infill drilling development program = Chaveroo — potential for 90 to 130 horizontal locations on 20 acre spacing * Milnesand — potent
Slide 19: Low-Risk Inventory of Growth Opportunities
(qj a : As )) Low-Risk Inventory of Growth Opportunities | Dp
Slide 20: Appendix
Appendix
Slide 21: Dr. Simon Kukes, CEO & Director
Dr. Simon Kukes, CEO & Director Since April 2013, Dr. Kukes has served as the principal of SK Energy LLC, his personal holding company. Dr. Kukes was the CEO at Samara-Nafta, a Russian oil company, partnering with Hess Corporation; a U.S. based international oil company, from January 2005 to April 2