Maybe he buys the whole company eventually or a BO down the road
This thing blows my mind, Q after Q after Q revenues rise, profits rise next 7 wells in CO getting ready to be tapped (PED 18% interest) a new partner for 9 well deal in NM which they already have three permits in hand and the new wells they will start drilling in CO Q1 2024 (PED 70% interest) NG getting ready to start the winter dance, oil rising and Biden and Co doing everything they can to keep the oil price climbing it's ridiculously undervalued. They get a partner to share costs and significantly increase production/drilling in NM 7 new wells with 18% interest will start producing Q4 2023, oil rises $5 a barrel in a week with all knowing it is going to $100 before December and PED rises .05? Then people wonder why Simon is slowly damn near buying the entire company in the market, boggles the mind LOL. I see Simon grabbing another 250-300K shares sooner than later and continuing to do so.
bottom line profitable wit production up very significantly but realized prices down year over year
$PED comparing other companies to Pedevco
Riley Permian acquired New Mexico assets from Pecos Oil & Gas for $330,000,000
Acreage: 11,700 net
Market Cap: $76.77M
Acreage: 53,700 net
boe/d: 2,006 * Q2 2023 and growing
debt: $ 0
$PED In February of this year Permian Resources acquired 4,000 net leasehold acres and 1,100 Boep/d of production for $98 Million.
In January of this year Ring Energy acquired Stronghold and their 37,000 net acres and 9,100 Boep/d of production for $465 Million.
3/2/23 Riley acquired Pecos
$330,000,000 - Acquisition
11,700 - Net Acres
7,200 - Boe/d
$76.77M - Market Cap!
$19M - Cash!
$0 - Long term debt
53,700 - Leasehold Acres
2,006 - Boe/d Production as of Q2 2023 and growing
PED's $77 Million market cap only values PED at roughly $38K per barrel of production or $1,429 per acre. If you deduct their $19M Cash then PED is only valued at $1,076 per acre.
Correct bud, and I gave Simon a vote of confidence on the two proxy letters for two accounts, just voted on line. He did not need any extra yes votes, lol. Just the formality. His directors get paid and deserve it. He works for no salary cuz he doesn't need it. He wants to build it to above the radar, and I think he will.
When it ran up to $2.40 in October of 21, I had the sells set high and they filled, so all my shares are essentially free since. I keep a core and flip some when it reaches overbought.
His recent WYO acreage buys are good logic IMO, go where you are welcomed, and let the green energy NM wannabes pound sand, they have plenty of it to play with their toy soldiers in.
When the "electricity for free" insanity calms down, say this winter, we might see some better valuations.
I'm not knocking finding new ways to power. But we are WAY off from plugging the plug and oil, gas and nuclear.
Hold tight. People will wake up.
$PED is under the radar as a small oil and gas E&P company. Oil is now trading at $84 a barrel, and Pedevco is a profitable company when WTI is approximately $58 and higher.
Maybe the market will start to take notice of Pedevco soon.
Stop the world. I want to get off!
$PED markets perception of Pedevco to compared Epsilon Energy. Epsilon is more natural gas heavy where Pedevco is more oil. But just in terms of Market Cap and Revenues at end of Q-1 March 31st, 2023. The average price for oil for Q1 was $72
1st Qtr Revenues:
$PED - $8,164,000
$EPSN - $9,356,276
$PED - $79 Million
$EPSN - $131 Million
Come on PED!!!!
No clue. The company's numbers look good and they keep expanding production. I figured at some point with this trajectory the price will move up.
Thank you , so why doesn't stock move up & down , it just doesn't,
I rather buy dividends stock imo
I asked their IR (Clark) about a possible dividend back in Jan. He replied "there is nothing to disclose on that front to date, noting the Company has not historically paid dividends as it seeks to develop its reserves and grow production revenue.". I replied back " I take it the main goal for the next couple of years at least is to reinvest and keep building the production capacity" and he confirmed that is the plan unless/until the Board direction changes.
Thoughts on tsly paying huge dividends
With ped your just NOT getting PAID!!!
ceo own a ton and stock hasn't moved in long long time
Jmo thanks for pm
Company spent 50% of their cash in Q1. At that rate they only have one quarter of cash left and would necessitate a capital raise (although I think they would spread this out over Q2 and Q3).
Oil prices are in a 1 year decline and that trend needs to be broken.
You hit it on the head with nat
When ef Hutton talks
No one listens
Ceo keeps buying with no one listening
He got to pump.it
The U.S. Energy Information Administration (EIA) said crude inventories dropped by 9.6 million barrels in the week ended June 23, putting stockpiles down for a second week in a row.
Well ceo is smart enough to own half of co ..and moving to where the oil action is
Check out reii
News from New Zealand
You got to diversify
Send me your thoughts
Sure hope he is buying shares with cash and not margin and using his prior shares as collateral …….
$PED Crude oil inventories in the United States dropped this week by 1.246 million barrels, that included another release of 1.7 million barrels this week from the SPR. Without the SPR sale, that is a potential 3 million barrel drop in inventories.
But oil drops $4 from where is was right before the numbers were released. LOL
Something gotta give...
$PED Feel free to add to the shareholder tracker if you wish. Just curious to see how much of the float is held.
Just now out of the truck's 7 hour run from the northern border. Lake of the Woods 40 miles into Canada.
Regarding Simon, I believe he is in great health, and loves what he does. Takes no salary!
PED has no debt and lives within its means.
Think "Legacy" as the SK Trust has the bulk and will run on his plan when he is gone as the core with perhaps royalties from his many patents tied to PED's unique methods of building energy production from his economy of scale formula. He is a wise man in total control, and never puts out fluff PR's to advertise. He lets the numbers speak, and his people do what they do best. I would wager he has well trained his people and trusts them completely.
Dr. Simon Kukes has publish more than 60 scientific papers and two books on the oil and gas industry of Russia and the United States. He is also the holder of more than 130 patents, primarily in Oil and Petrochemical Processing.
Kukes acquired Pedevco in June 2018 if I remember correctly... I would think Covid put a hamper on many business plans of 2 years with crazy swings of oil market prices.
So what realistically 3 years into the business plan... Production is continuing to grow...
I am only speculating because of Simon's age... I mean does anyone really think he wants to continue working and growing businesses into his 80's and 90's. I don't know maybe he does.
Again I'm only speculating. Pete may be absolutely right and he wants to continue growing the business larger.
So what year are we in?
Simon Kukes is I believe 76 or 77? Do you really think he is in this for the long term? My personal thought was a probable 5 to 6 yr plan that Covid may have a extended slightly...
Hi.i was buying ped ,however with all his buying the stock failed to hold the dollar mark
Why is the question? Ceo relentlessly buys and stock falls, why aren't funds buying into it, zero debt ,lots of profits any explanation
His stated goal is to build an energy industry giant and his private trust fund owns the lion's share of his position, so no, a sell is NOT logical, and taking it private would give too much profit in taxes too an unfriendly government. His recent purchase in a more friendly Wyoming makes perfect sense. He does not need the New Mexico counter energy nut cases, trying to stop his unique patented methods, which should align with an energy hungry planet, and their state's need for capital to advance their agenda.
I agree but kukes keeps buying in the open market maybe he will take it private
$PED most small cap investors love it when company management spends their own money to align their interests with those of regular shareholders. CEO Simon Kukes has been spending millions of dollars to pick up shares of Pedevco. But Pedevco still remains an unknown..
85,790,267 - O/S
51,791,325 - Simon Kukes Trust 60.37%
7, 021,950 - Simon Kukes Direct 8.19%
24,919,324 - Float
$0 - Debt
$8,164,000 - Qtrly Revenues and growing
55,000 - Acres combined in Permian and D-J Basin
$HUSA $INDO $REI
Not sure if anyone is interested... I put together a shareholder list for PED to see if we are close to having all of the shares acquired... It's aggravating seeing PED continually sold, and I wondered if shares are being shorted or sold naked. Here is the shareholder list if you would be interested in participating.
I asked Clark (IR) about the increased conference activity and heard back "we are seeking to increase awareness and interest with institutional and professional investors in an effort to increase our liquidity and reduce volatility. Our investor base is currently heavily weighted to retail investors, which contributes to volatility. Also fosters communication and connection and potential deals with other E&P operators, vendors and financial institutions."
What is end game with owning 2/3 of the company? Taking it private?
This filing includes the latest corporate presentation-
https://www.ft.com/content/113fb960-fd71-43fd-bccf-261857f09181... Deals in Permian