Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 157

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 157
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 operating lease is included in the table below (in thousands):

|                                                                        |     | Year Ended        
 December 31, 2024 |     |
|:-----------------------------------------------------------------------|:----|:------------------|----:|
| Cash paid for amounts included in the measurement of lease liabilities |     | $                 | 110 |

Supplemental balance sheet information related to operating leases is included in the table below (in thousands):

|                                         |     | December 31, 2024 |     |
|:----------------------------------------|:----|:------------------|----:|
| Operating lease – right-of-use asset    |     | $                 | 224 |
| Operating lease liabilities – current   |     | $                 |  99 |
| Operating lease liabilities – long-term |     |                   | 129 |
| Total lease liability                   |     | $                 | 228 |

The weighted-average remaining lease term for the Company’s operating lease is years as of December 31, 2024, with a weighted-average discount rate of %.

Lease liability with enforceable contract terms that have greater than one-year terms are as follows (in thousands):

| 2025                  |     | $ | 112 |   |
| 2026                  |     |   | 115 |   |
| 2027                  |     |   |  20 |   |
| Thereafter            |     |   |   - |   |
| Total lease payments  |     |   | 247 |   |
| Less imputed interest |     |   | (19 | ) |
| Total lease liability |     | $ | 228 |   |

Leasehold Drilling Commitments

The Company’s oil and gas leasehold acreage is subject to expiration of leases if the Company does not drill and hold such acreage by production or otherwise exercises options to extend such leases, if available, in exchange for payment of additional cash consideration. , (net to our direct ownership interest only), all of the remaining acreage is currently held by production. The Company plans to hold significantly all of this acreage through a program of drilling and completing producing wells. If the Company is not able to drill and complete a well before term assignment expiration, the Company may seek to extend terms of contractual assignments.

Other Commitments

Although the Company may, from time to time, be involved in litigation and claims arising out of its operations in the normal course of business, the Company is not currently a party to any material legal proceeding