Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 172

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 172
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 |       - |   |
| Changes in estimated future development costs            |     |   |    (740 | ) |     |   |  (7,068 | ) |
| Development costs incurred                               |     |   |       - |   |     |   |       - |   |
| Revisions of previous quantity estimates                 |     |   | (40,363 | ) |     |   | (15,021 | ) |
| Accretion of discount                                    |     |   |  (1,173 | ) |     |   | (11,697 | ) |
| Net change in income taxes                               |     |   |   6,629 |   |     |   |  58,301 |   |
| Purchases of reserves in place                           |     |   |  47,162 |   |     |   |       - |   |
| Sales of reserves in place                               |     |   |  (1,028 | ) |     |   | (10,151 | ) |
| Change in timing of estimated future production          |     |   |       - |   |     |   |      16 |   |
| Standardized measure, end of year                        |     | $ | 144,163 |   |     | $ | 190,361 |   |

| 121 |

ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.

None.

ITEM 9A. CONTROLS AND PROCEDURES.

Disclosure Controls and Procedures

Disclosure controls and procedures are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time period specified in the SEC’s rules and forms and is accumulated and communicated to the Company’s management, as appropriate, in order to allow timely decisions in connection with required disclosure.

Evaluation of Disclosure Controls and Procedures

Under the supervision and with the participation of our management, including our Chief Executive Officer (“CEO”)(J. Douglas Schick) and Chief Accounting Officer (“CAO”), we conducted an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act as of December 31, 2024, the end of the period covered by this Annual Report. Based on this evaluation, our CEO and CA