Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 142

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 142
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 the estimates of proved developed oil reserves.

Addressing the matter involved performing procedures and evaluating audit evidence in connection with forming our overall opinion on the consolidated financial statements. The work of management’s specialists was used in performing the procedures to evaluate the reasonableness of the proved developed oil reserves. As a basis for using this work, the specialists’ qualifications were understood and the Company’s relationship with the specialists was assessed. The procedures performed also included evaluating the methods and assumptions used by the specialists, testing the completeness and accuracy of the data used by the specialists, and evaluating the specialists’ findings.

/s/ Marcum llp

We served as the Company’s auditor from 2008 through 2025.

March 31, 2025 , except for the effects of the restatement described in Note 4, which is dated October 29, 2025

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<div align='center'>PEDEVCO CORP.

CONSOLIDATED BALANCE SHEETS

(amounts in thousands, except share and per share data)</div>

| Assets                                                                                                                               
 Current assets:                                                                                                                      |     | December 31, 
 2024         
 As Restated  |          |   |     | 2023        
 As Restated |          |   |
|:-------------------------------------------------------------------------------------------------------------------------------------|:----|:-------------|---------:|:--|:----|:------------|---------:|:--|
| Cash and cash equivalents                                                                                                            |     | $            |    4,010 |   |     | $           |   18,515 |   |
| Accounts receivable – oil and gas                                                                                                    |     |              |    7,995 |   |     |             |    5,790 |   |
| Note receivable, current                                                                                                             |     |              |      293 |   |     |             |       42 |   |
| Prepaid expenses and other current assets                                                                                            |     |              |      917 |   |     |             |      260 |   |
| Total current assets                                                                                                                 |     |              |   13,215 |   |     |             |   24,607 |   |
| Oil and gas properties:                                                                                                              |     |              |          |   |     |             |          |   |
| Oil and gas properties, subject to amortization, net                                                                                 |     |              |   95,070 |   |     |             |   81,872 |   |
| Oil and gas properties