Slide 1: PEDEVCO Investor Presentation Spring 2022
PEDEVCO Investor Présentation Spring 2022
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 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: PEDEVCO vs. Peers Price Performance Since Acquisition
PIS plz 4c Eyacr a = aca PUEVYY Hlas LAC ULSU LIS INNO AN PEDEVCO has demonstrated PEDEVCO Vs. Peers" | Price Performance Since Acquisition® success by executing on key catalysts and “resetting” the PED vs. XOP story with the Street, one bucking the trend and creating value throughout a 800% severel
Slide 5: Oil weighted reserves drive value
Oil weighted reserves drive value Year End 2021 Reserves (SEC Pricing) “ sisaiaii Reserve Categories Oil Gas NGL Total PV-10@ = 82% oil (MBbls) (MMcf) (MBbls) — (MBoe) ($m) = $196 million PV-10 (at $66.56 oil price) Proved Developed 1,873 1,837 34 2,214 $46,821 Grow reserves and production Proved Un
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 impaired the ability for small operators to be consistently profitable (asset level returns comparable to larger companies; corporate returns are lower
Slide 8: Consolidation Highlights
Consolidation Highlights PED is one of only three public companies primarily focused on the horizontal San Andres play PED in under 4 years has acquired over 33,000 net acres in the play PED has bid on several large asset packages, however current bid/ask spreads have prevented a_ large transaction
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 = Consolidation in the D-J Basin began in 2021 and has continued into 2022 with Civitas and PDC Energy recently announcing several large transactions = Collaboration is neces
Slide 10: Assets
Slide 11: Permian Basin Overview
arm yn Overview Sltl UVel vic Highlights Acreage Leasehold Map ~33,000 Net Acres 7 7 se . = Average acreage cost ~$440/acre TT iA i Large, contiguous leasehold position . ia oF | “| Acquired ~18,000 gross D Wook it i « Chaveroo & sab Oil eid acres and3 Hz producers aad I : ‘Acquired 49 MMBOE cumulat
Slide 12: San Andres Development
San Andres Development a Bl 2 a ES a Bl 2 a CHAVEROO FIELD "=== 2022 Planned Development Wells === 2021/2022 Completed Wells sm Existing San Andres Hz Wells, Phase III Development 1 D 7 a 7 a q BI 7] = Drilled two wells in 2021, completed in 2022 [] * Plan to drill up to 5 additional wells in 2H 202
Slide 13: San Andres Type Curve & Economics
San Andres Type Curve & Economics 5,000’ Infill Type Well Peak Rate (Boepd) 397 De (%) B-factor Dm (%) EUR (MBoe) 882 5,000’ Well Net Economics™ iit D&C ($M) LOE ($/Boe) ROR (%) ROI (disc) PVI0 ($M) PEDEWCO Fa 92 a OBS \ 341 2,700 7.50 iN 100 = = 2s 4,000 8--. moor 0022008 208 2006 2007 2028 2030 ©
Slide 14: San Andres' Advantaged Geology
San Andres’ Advantaged Geology = San Andres formation production represents ~40% of Wasson, vam, the 30 billion barrels (BBLs) of cumulative oil Seminole, coe tn, Goldsmith Maljamaar - ‘ production in the Permian basin (through June 2015)"*) * > 10 BBLs cumulative production from more than 120 reser
Slide 15: Stratigraphic Column
Stratigraphic Column a Northwest Shelf Stratigraphy Period Formation Permian Rustler Tansill Yates ‘Seven Rivers Queen Grayburg Upper San Andres [_Anhydrite Lower P2 SanAndres|_P3 Glorietta Yeso Abo Wolfcamp Pennsylvanian Pennsylvanian Mississippian Mississippian Devonian Devonian Silurian Fussleman
Slide 16: San Andres Oil Accumulation & Production History
in 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 accumulated in these traps to form thick oil columns (Main Pay Zones) Ea
Slide 17: D-J Basin Highlights
Highlights ~11,600 Net acres (all HBP’d) 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 net acreage 86 gross (22 net) wells 18 gross (16 net) operated wells 4.2 MMBOE proved reserves YE2021 Field and Z
Slide 18: D-J Basin Potential
it Potential 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 19: Well Performance: Wells Completed since January 2018
4 = at ct ALS Wells Completed since January 2018 along with Planned Development errormance Avg. Lateral Number Prod Max IP30 Unit Name SrWells Year BOEPD. Preppant Length — awn) if) : 15 1 | Andersonfed | 9 | 2020| 1286 | 2424 | 9929 : : 2 | Green Teal Fed _| 2 | 2019 | 1204 | 3052__| 9570 : : 3 | s
Slide 20: D-J Basin - Wattenberg Extension Permits & Future Development
D-J Basin - Wattenberg Extension Permits & Future Development TaN RELW PEDEWCO : 20
Slide 21: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics Peak Rate (Boepd) 33° De (%) 5 » B-factor 15 Eee Dm (%) 7 EA EUR (MBoe) 506 7 = D&C ($M) 4,500 “ —_— LOE ($/Boe) 70 \ ROR (%) >100 Ben ROI (disc) 26 PVI0 ($M) 6,870 a ar re ee a ee 7 Based on recent well performance ofset PEDEVC0's D-J Basin acreage position 2 Net wor
Slide 22: 2022 Development Plan
2022 Development Plan = Capital expenditures for drilling and completion costs on our Permian Basin and D-J Basin assets are estimated to range between $33 million - $38 million and include: = Completion costs for two horizontal San Andres wells drilled in 2021 on our Permian Basin asset = Drilling
Slide 23: Simon Kukes, CEO & Director
‘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 Tyumen Oil Company from 1998 until it combi