Pedevco Corp. · AMEX:PED
Pedevco — Investor Presentation (April 2021)
22 slides from Pedevco's investor presentation, Apr 15, 2021
Slide 1: Investor Presentation Spring 2021
PEDE\CO Investor Presentation Spring 2021
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: Newly restructured company with strong balance sheet and financial flexibility
Newly restructured company with strong Balance Sheet and Financial Flexibility 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 201
Slide 4: PEDEVCO vs. Peers
PEDEVCO Vs. Peers® | 3 Yea hare Price PED vs. XOP PED Return — xOP Return 4/1/2020 5/1/2020 6/1/2020 rfo nce") 2/1/2021 3/1/2021 4f1/2024 {1 Source: Yahoo Finance 1 SPDR S&P Oil & Gas Exploration & Production ETF (OP) 7 PEDEVCO has demonstrated success by executing on key catalysts and “resetting” t
Slide 5: Highly oil weighted reserves drive value creation
Highly oil weighted reserves drive Year End 2020 Reserves (SEC Pricing) “ value creation Reserve Categories Oil Gas NGL Total PV-10 @ = 86% oil (MBbls) (MMcf) (MBbls) (MBoe) ($M) = $58 million PV-10 Proved Developed 1,827 2,031 34 2,200 $21,584 Grow reserves and production through low-risk San Andre
Slide 6: Industry Consolidation
Industry Consolidation
Slide 7: 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 over the past several years significantly impairs the ability for small operators to be consistently profitable (asset level returns comparable to larger companies; corporate returns are lower d
Slide 8: Consolidation of Current Asset Base - Horizontal San Andres Activity
Consolidation of Current Asset Base - Horizontal San Andres Activity Horizontal San Andres Play Consolidation Highlights PED is one of only three public companies focused on the play PED in under 3 years has acquired over 37,000 net acres in the play PED has bid on several large asset packages, howe
Slide 9: 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 am PEDEVCO Leasehold @ Active Producing Wells * The D-J Basin is ripe for consolidation as the basin is filled with public and private equity-backed companies with large non-
Slide 10: Assets
Slide 11: Highlights Acreage Leasehold Map
Highlights Acreage Leasehold Map ~37,000 Net Acres + Average acreage cost ~$440/acre 1 if—s , ‘1 I Large, contiguous leasehold position =i “ Acquired ~18,000 gross o Poh TT + Chaveroo & Milnesand Oil Fields acres and 3 Hz producers {1 ; p a ‘owt ‘Acquired 48 MMBOE production rom private operator in
Slide 12: Phase I - Infill San Andres Development (2019)
Phase | - Infill San Andres Development (2019) 5 ss a : Phase | Development = Benchmark well performance Optimize lateral targets & infill spacing « Jennifer 251H & 361H @ 10-acre infill spacing = Haley 305H & 345H @ 20-acre infill spacing Test completion strategy 7] *| a Prove concept & delineate p
Slide 13: Phase II - Infill San Andres Development (2019-2020)
Phase II - Infill San Andres Development (2019-202 Phase Il Development * Phase II Wells Drilled & Completed in Q4 2019 = leveraging Phase | infrastructure a 4 | 7 i] | Online early 2021. Management delayed completion of SWD well due to pandemic induced decreased 7 a a 7) a a a commodity pricing 7s}
Slide 14: Horizontal Infill Performance
es Horizontal Infill Performance oy, 5,000’ Infill Type Well # Peak Rate (Boepd) 397 3 De (%) 92 B-factor 1.3 its Dm (%) 8 \ EUR (MBoe) 341 Se. NJ 5,000’ Well Net Economics® ee D&C ($M) 2,500 LOE ($/Boe) 7.50 AN Be. ROR Ge a = — ROI (disc) 9 PVI0 ($M) 2,530 8--. ~ ee ee ee a i i ee] Derived from Dec
Slide 15: San Andres' Advantaged Geology
San Andres’ Advantaged Geology * Known recovery of 6.7 billion barrels of oil Wasson, Vacuum, . . Seminole, See a = Well-established, conventional carbonate Goldsmith Maljamaar & reservoir composed of porous dolomite with multiple high permeability zones * 110 billion barrels of oil-in-place in San
Slide 16: San Andres' Advantaged Geology (Cont.)
San Andres’ Advantaged Geology (Cont.) Northwest Shelf Stratigraphy Period Formation Rustler Tansill Yates Seven Rivers Queen Grayburg Upper San Andres 2200/ 41007 Permian Glorietta Yeso Abo Wolfcamp — Pennsylvanian Pennsylvanian Mississippian Mississippian Devonian Devonian Silurian Fussleman abe i
Slide 17: Differentiating Main Pay Zones and Transition Oil Zones
Differentiating Main Pay Zones and Transition Oil Zones n Ai s Oil Accumulation & Production Histo = 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 th
Slide 18: D-J Basin Highlights
Highlights ~11,700 Net acres (all HBP’d) Ley, LL py LI y = eS = Acreage in rural areas of Weld and Morgan exploring CI] 1 t . ° Peco Be HH HH Counties opportunites Operator in 15 DSUs and holds 50+% WI in two other DSUs, collectively representing over 80% of net acreage Sold in 2019 72 gross (21 net
Slide 19: Enhanced D-J Basin Well Performance
Enhanced D-J Basin Well Performance 200,000 150,000 100,000 CUMULATIVE BOE 50,000 ° 6 2 Gen 2 Wells Hybrid Fracs 700-900 Ibs/ft Gen 1 Wells‘) Gel Fracs 600-900 Ibs/ft Is 24 30 36 MONTHS Improved Completions Driving IP30 and EUR Growth PEDEWCO Wells included in igure are located on PEDEVCO's D-J Basi
Slide 20: Niobrara Horizontal Performance
Niobrara Horizontal Performance . a Peak Rate (Boepd) 675 33° De (%) 95 > x B-factor 115 88. ~ EX Dm (%) 7 t 1 EUR (MBoe) 506 — 7,500’ Well Net Economics' 880. [— D&C ($M) 4,500 i LOE ($/Boe) 72.0 aN ROR (%) 80 8e- ROI (disc) 20 PVIO ($M) 4,380 I 2- rom Pen aa ma aie aes pee oun as an faa Based on r
Slide 21: D-J Basin Stratigraphic Column Includes Multiple Formation Targets
D-J Basin Stratigraphic Column Includes Multiple Formation Targets for Horizontal Developmen Up to Five Stacked Pay Zones Illustrative Downspacing ——— A h AB A (16 wells per section) an ea Codell Potential for 24 wells per section
Slide 22: Executive Team with an Oil & Gas Background
Executive Team with a sti Oil & Gas Ba groun Simon Kukes, CEO & Director Mr. Kukes has served as the principal of his investment company, SK Energy LLC, since 2013. From 2005 to 2013, he served as CEO of Samara-Nafta, which partnered with Hess Corporation. Prior to that, he was President and CEO of