Company: PED
Filing Date: 2025-10-29
Form Type: 10-K/A
Source: 0001654954-25-012328
Chunk: 28

Company: PEDEVCO CORP
Filing Date: 2025-10-29
Form: 10-K/A
Chunk 28
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 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 |     |       |    |     |     |     |     |       |   |     |     |     |     |       |   |     |     |     |
| Productive  |     |       | 27 |     |     | 5.1 |     |       | 8 |     |     | 0.4 |     |       | 8 |     |     | 4.1 |
| Dry         |     |       |  - |     |     |   - |     |       | - |     |     |   - |     |       | - |     |     |   - |
| Exploratory |     |       |    |     |     |     |     |       |   |     |     |     |     |       |