Slide 1: Investor Presentation Fall 2021
PEDEVWCO Investor Presentation Fall 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 21E of the Securities Exchange Act of 1934, as amended. These forward-looki
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 20
Slide 4: PEDEVCO vs. Peers Share Price Performance
PEDEVCO Vs. Peers?) | 3 Year Share Price formance!” sanae rapa anno. snows ona Anos anos anna anno snpas spn sare snow manos PED vs. XOP anno snipes oppo nanos nanos g anpeo anno apaao anpac20 erp2e20 rapa snpeo sriraczo nor Retun s/spz020 rojo apo nppeo sine 2h spa spurns 8 & PEDEVCO has demonstrat
Slide 5: Highly oil weighted reserves drive Year End 2020 Reserves
Highly oil weighted reserves drive Year End 2020 Reserves (SEC Pricing) Nalle:cteation Reserve Categories it Gas NGL Total.» PV-10 + 86% oil (MBbIs) _(MMcf)_ (MBbls)(MBoe) ($M) + $58 million PV-10 (at $39.57 oil iil Proved Developed 18272038134 2200 $21 584 Grow reserves and production Proved Undeve
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
Slide 8: Consolidation of Current Asset Base - Horizontal San Andres Activity
Consolidation of Current Asset Base - Horizontal San Andres Activity Consolidation Highlights = PED is one of only three public companies focused on the play PEDEWCO => PED in under 3 years has acquired over 37,000 net acres in the play = PED has bid on several large asset packages, however current
Slide 9: Consolidation of Current Asset Base - D-J Basin Activity
Consolidation of Current Asset Base - D-J Basin Activity Consolidation Highlights ® The D-J Basin is ripe for consolidation as the basin is filled with public and private equity-backed companies with large non-contiguous overlapping leasehold positions (collaboration is necessary) = New regulations
Slide 10: Assets
Slide 11: Highlights Acreage Leasehold Map
Highlights Acreage Leasehold Map ~35,000 Net Acres = Average acreage cost ~$440/acre | (= 4 ij Large, contiguous leasehold position -y = Acquired ~18,000 gross o foe I imi if + Chaveroo & Milnesand Oil Fields acres and 3 Hz producers [+ = NO NaNSOE peta from private operatorin. |p|" 1 peated 100% wt
Slide 12: Phase I - Infill San Andres Development (2019)
Phase | - Infill San Andres Development (2019) = a a | a a a a a | Phase I Development aI a er |C: e a * Benchmark well performance Pa = Optimize lateral targets & infill spacing, q 7 ipa {| | = Jennifer 251H & 361H @ 10-acre infill spacing al ms + Haley 305H & 345H @ 20-acre infill spacing 4 | 7 Be
Slide 13: Phase II - Infill San Andres Development (2019-2020)
Phase II - Infill San Andres Development (2019-2020) ay aI I a = zi zy I ay I =f Ey El aT Phase II Development 7 7 7 [ht 7 7 * Phase Il Wells Drilled & Completed in Q4 2019 a = leveraging Phase | infrastructure 7 7 %y i Fay v 7 + Online early 2021. Management delayed completion of 'SWD well due to p
Slide 14: Phase III - Infill San Andres Development (2021 - 2022)
Phase III - Infill San Andres Development (2021 - 2022) Phase II! Development * Phase Ill Wells Planning Underway > 7 3 + Permitting in process for 8 wells [hi + Plant dil 2in tate 2021 or early 2022 |, | | | [i + Remaining wells wil be dled in 2022 after evaluation of a first 2 wells i complete a 4
Slide 15: 5,000' Infill Type Well
5,000’ Infill Type Welt i —— — —- Peak Rate (Boepd) De (%) 2 ; ‘el B-factor 13 "eae? Dm (%) 8 EUR (MBoe) 341 Bee Nel 5,000" Well Net Economics® 5 — = gc ($M) 2,500 t = = — LOE ($/B0e) 750 ROR (%) a5 = ROI (disc) 23 t ———— Pvio ($M) 3,500 ee motiitiiitiists ra roan {9 Derived rom December J 2020 rese
Slide 16: San Andres' Advantaged Geology
San Andres’ Advantaged Geology * Known recovery of 6.7 billion barrels of oil wan, vec a 2 Seminole, Gog = Well-established, conventional carbonate coon wed reservoir composed of porous dolomite with multiple high permeability zones * 110 billion barrels of oil-in-place in San Andres reservoirs acro
Slide 17: Northwest Shelf Stratigraphy
Wn oD Northwest Shelf Stratigraphy Period Formation Permian Rustler Tansill Yates. Seven Rivers ‘Queen Grayburg Upper San Andres. | Anhydrite Pl Lower [PZ San Andres] P3 PA [oes Glorietta Yeso ‘Abo Wolfeamp Pennsylvanian Pennsylvanian Mississippian Mississippian Devonian Devonian’ Silurian Fussleman
Slide 18: San Andres Oil Accumulation & Production History
San Andres Oil Accumulation & Production History il 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 19: ~11,500 Net Acres (all HBP'd)
~11,500 Net acres (all HBP'd) | tit | ‘Acreage in rural areas of Weld and Morgan Seemcey Soom Counties LTA sctweanzna2c2 fT paso Operator in 35 DSUs and holds 504% WI in two other DSUs, collectively representing over 80% of net acreage 72 gross (21 net) wells 18 gross (16 net) operated wells Field a
Slide 20: D-J Basin Stratigraphic Column Includes Multiple Formation Targets
OD D-J Basin Stratigraphic Column Includes Multiple Formation Targets for Horizontal Developmen Up to Five Stacked Pay Zones Illustrative Downspacing (16 wells per section) ARAAA Potential for 24 wells per sectio
Slide 21: Offset Well Performance
nal Offset W * Normalized 7,500 lateral length Z| andesonres_|9 | 2000] 1286 | 2400 | 9.9 z 2 | Green Teal Fed 2 2019 | 1,204 3,052 9,570 3-[_shutfea | 8] 2020 | 1.060 | 2068 [6.706 | “Boomsang Fed | a —[ 2000 [571 | 2409 [7,758 i J Ss ‘Stampede Fed 2 2019 | 964 2,098 8,058 =| | shovelerfed | 3 2030
Slide 22: D-J Basin - Wattenberg Extension Permits & Future Development
D-J Basin - Wattenberg Extension Permits & Future Development 2018 ~ 2021 Wattenberg Extension Development focused on TEN R6OW. Development is now ‘moving to PEDEVCO's high WI acreage position. PEDEVCO's postion while geologically similar is underdeveloped due to enhanced completion designs not bein
Slide 23: Niobrara Type Curve & Economics
Niobrara Type Curve & Economics Peak Rate (Boopd) 615 - + f De (%) 5 | B-factor 15 ite | Dm (%) 7 vi — = EUR (MBoe) 506 I DEC ($M) 4,500 2 LOE ($/B00) 10 | ROR (%) 150 Ben. | | / ROI (dise) 26 i | Pvio ($M) 6870 | eS ee me we ene ar a a ‘Based on recent wel perormance offset PEDEVEDS DJ-Basin acreag
Slide 24: Executive Team with a Strong Oil & Gas Background
Executive Team with a Strong Oil & Gas ckground ‘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-Natta, which partnered with Hess Corporation. Prior to that, he ‘was President and C