Company: PED
Filing Date: 2025-10-31
Form Type: 10-K/A
Source: 0001654954-25-012381
Chunk: 27

Company: PEDEVCO CORP
Filing Date: 2025-10-31
Form: 10-K/A
Chunk 27
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 title, in all material respects, to substantially all of our producing properties in accordance with standards generally accepted in the oil and natural gas industry.

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Total Net Undeveloped Acreage Expiration

In the event that production is not established or we take no action to extend or renew the terms of our leases, our net undeveloped acreage that will expire over the next three years as follows: (i) in the D-J Basin Asset, 809 net acres are set to expire during 2025 (net to our direct ownership interest only), with 3,662 and 1,657 net acres set to expire for the years ending December 31, 2026 and 2027 respectively, and 508.53 net acres thereafter; and (ii) in the Permian Basin Asset only 200 net acres are set to expire for the year ending December 31, 2026, (net to our direct ownership interest only), with all of the remaining acreage currently held by production. We expect to retain substantially all of our expiring acreage either through drilling activities, renewal of the expiring leases or through the exercise of extension options.

Well Summary

The following table presents our ownership in productive crude oil and natural gas wells at December 31, 2024. This summary includes crude oil wells in which we have a working interest:

|             |     | Gross |       |     | Net |      |
| Crude oil   |     |       | 117.0 |     |     | 59.3 |
| Natural gas |     |       |     - |     |     |    - |
| Total*      |     |       | 117.0 |     |     | 59.3 |

* Total percentage of gross operated wells is 47.0%. The Company also had royalty interests in 33 gross (0.16 net) wells.

Drilling Activity

We drilled wells or participated in the drilling of wells as indicated in the table below:

|             |     |  2024 |    |     |     |     |     |  2023 |   |     |     |     |     |  2022 |   |     |     |     |
|             |     | Gross |    |     | Net |     |     | Gross |   |     | Net |     |     | Gross |   |     | Net |     |
| Development |     |       |    |     |     |