Pedevco Corp. (PED)

[pete807]

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.

JMO,
-pete

[ttubular]

I agree but kukes keeps buying in the open market maybe he will take it private

[RyGuy]

Grow the company for an eventual sale would be my guess.

Wouldn't most think that is the eventual end game goal?

[RyGuy]

$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..

http://openinsider.com/screener?s=PED&o=&pl=&ph=&ll=&lh=&fd=730&fdr=&td=0&tdr=&fdlyl=&fdlyh=&daysago=&xp=1&xs=1&vl=&vh=&ocl=&och=&sic1=-1&sicl=100&sich=9999&istenpercent=1&grp=0&nfl=&nfh=&nil=&nih=&nol=&noh=&v2l=&v2h=&oc2l=&oc2h=&sortcol=0&cnt=100&page=1


PEDEVCO
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

https://docs.google.com/spreadsheets/d/1N0CKiKVoegOuBhwuDnfQ3Qi3KV3pYlxtK9GszffOau4/edit?usp=sharing
$HUSA $INDO $REI

[ttubular]

What is kukes end game?

[RyGuy]

$PED announces expansion into Wyoming D-J Basin by adding 4,000 additional net acres.

https://finance.yahoo.com/news/pedevco-announces-expansion-wyoming-d-203000303.html

[RyGuy]

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.

https://docs.google.com/spreadsheets/d/1N0CKiKVoegOuBhwuDnfQ3Qi3KV3pYlxtK9GszffOau4/edit?usp=sharing

[aabot]

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."

[ttubular]

What is end game with owning 2/3 of the company? Taking it private?

[Don]

Kukes adds 264K shares to his collection.

[Don]

Year end company report...
https://feeds.issuerdirect.com/news-release.html?newsid=8198814722643986

[futrcash]

This filing includes the latest corporate presentation-

https://app.quotemedia.com/data/downloadFiling?webmasterId=102691&ref=117315534&type=HTML&symbol=PED&companyName=Pedevco+Corp.&formType=8-K&formDescription=Current+report+pursuant+to+Section+13+or+15%28d%29&dateFiled=2023-03-06&CK=1141197#ped_ex992.htm

futr

[futrcash]

https://www.ft.com/content/113fb960-fd71-43fd-bccf-261857f09181... Deals in Permian

futr

[Think1st]

https://www.axios.com/2023/02/02/us-permian-basin-oil-production-and-profits-have-surged

[Think1st]

Is this good news for ped?
What will bring rise in stock price?? A rise in oil prices or buyout

[littlejohn]

Last filing from Mr. Kruse made it appear

he mave sold some REI shares...

otcmarkets financial info section offers

quick looks at the different financials

on most companies...

REI actually increased the net assets

to a higher percentage amount above

the long term debt at end of 3rd quarter...

A lot of shares went to the company

acquired that became the company's

largest shareholder to cause the increase...

click on quarterly to see those numbers

under balance sheet...

https://www.otcmarkets.com/stock/REI/financials

REI only added one month of revenue

in 3rd quarter of new assets merged

in on the revenue statement...

Should make for potentially better

looking numbers for 4th quarter, 2022...

Most of these companies using free cash

flow to reduce debt show negative short

term liabilities to short term assets on

their balance sheets...

Have to be able to get past that to

watch companies trying to grow

revenue that have to have debt...

Oil and gas sector has a high cost

of reinvesting for companies...

VTLE, was LPI, sold off small asset

in 3rd quarter during oil price peak

and reduced debt about 100 million

then, but it reduced revenue some,

so the share price was dropped...

So companies that grew or lowered

debt seem to have all got punished

together to end 2022...


So we watch...LJ

[RyGuy]

I haven't gone into Ring's filings recently, I'm just pulling the info from Yahoo Finance.

Ring also has $438 Million in debt now. I'm guessing that is mostly from the acquisition?

Yahoo also shows only $890K in cash? I'm sure they have receivables not being counted but still

By comparison...

Pedeveco a small E&P doesn't have any debt, and has over $30 Million cash... Plus will probably be close to $60 Million in annual revs going forward after next few reports from new wells being brought on line in 4th qtr.

I know Pedevco CEO had a significant investment in REI at one point... Not sure if he still does or not...

REI may be undervalued too, but I'm not real certain, I haven't looked at it much.

[littlejohn]

ot sorta, REI market value today is

well below that cost of their aquisition

alone which almost doubled the

company's production...

https://finance.yahoo.com/quote/REI?p=REI

Fair value is considered about 170%

higher than current price on that

same Yahoo quote page...

It is on topic for folks looking for

deals in oil/gas sector...


So we watch...LJ

[RyGuy]

$PED Make it make sense...

1/24/23 $PR
Permian Resources buys New Mexico lease acres
https://www.currentargus.com/story/news/2023/01/24/oil-and-gas-companies-moving-into-permian-basin-in-100m-string-of-deals/69831997007/
$98 Million - Acquisition
7,300 - Acres
1,100 - boe/d
$7000-$8000 - Per Acre

1/26/23 $MTDR
Matador Resources acquires Advance Energy Partners
https://www.rigzone.com/news/matador_resources_company_announces_16b_deal-26-jan-2023-171877-article/
$1.6 Billion - Acquisition
18,500 - Acres
25,000 - boe/d
$25,000 - Per Acre

10/11/22 $FANG
Diamond Back Energy acquires FireBird Energy
https://seekingalpha.com/news/3890488-diamondback-to-buy-permian-assets-from-firebird-in-cash-and-stock-deal
$1,600,000,000 - Acquisition
75,000 - Acres
22,000 - Boe/d Production
$21,116 - Per Acre

6/27/22 $REI
Ring Energy acquired Stronghold
https://news.yahoo.com/ring-energy-acquire-stronghold-465-084500801.html
$465 Million
37,000 - Acres
9,100 boe/d
12,568 - Per Acre

Market has $PED Pedevco priced at? $1.05?!?!
$90M - Market Cap and No Debt!
$30.5M - Cash!
53,700 - Leasehold Acres
2,500 - Boe/d Production Estimate Q1-23
$1,677 - Per Acre?! WTH!

Should be...
$5,000 per acre = $3.12 share price?
$7,500 per acre = $4.69 share price?
$10,000 per acre = $6.25 share price?

[ttubular]

U really think so?

[Think1st]

Buyout on the way.??
Bidding war on way?
Nasty bidding war on way

https://www.currentargus.com/story/news/2023/01/24/oil-and-gas-companies-moving-into-permian-basin-in-100m-string-of-deals/69831997007/

[Think1st]

Break even is $1,20 on one account
The other in at 0.58

[janeyH]

HAH! pretty shitty

[Think1st]

How you doing with spvnf lol

[janeyH]

must be nice to give yourself $400,000 for being the CEO

[RyGuy]

$PED Sardar Biglari and his Biglari Holdings company $BH in October 2022 acquired 90% of Abraxas Petroleum $AXAS for $80 Million in what appears to have been a pre-arranged restructuring. Abraxas was on life support with crippling debt. They sold 3,500 Bakken acres with 3,000 boe/d for $87 Million and retained their 11,000 Permian acres.

https://localtoday.news/ca/sardar-biglari-pays-80-million-for-sa-based-drilling-company-abraxas-petroleum-79565.html
and
https://www.limerockresources.com/lime-rock-resources-acquires-two-properties-for-358-5-million/

Abraxas in last 10-Q reported production of approximately 2,350 boe/d on the 11,000 Permian acres.

They were saved from life support at the equivalence of $8,000 per acre for roughly 90% of the company.

Here Pedevco sits with what will likely be similar production numbers as of Q4/Q1
What is Pedevco shares worth? $1.13?
$97M - Market Cap and No Debt!
$30.5M - Cash!
53,700 - Leasehold Acres
2,500 - Boe/d Production Estimate Q1-23
$1,805 - Per Acre?! WTH!
$5,000 per acre = $3.12 share price?
$7,500 per acre = $4.69 share price?
$10,000 per acre = $6.25 share price?

Hello McFly!

[pete807]

Neither
As a long term student of Simon and holder of PED his goal IMHO is to grow the company into a highly respected and valuable energy company. He does not need the money or wish to just have more and not be involved. His expertise is energy.
Simon Gregory Kukes is a Russian-born American chemist and retired oil industry businessman. He immigrated to the US to work in the oil industry in the late 1970s, and returned to Russia with AMOCO in 1995. He became vice president at YUKOS, president of TNK-BP from 1998 until 2003, and returned to head Yukos, replacing Mikhail Khodorkovsky. Officially retired he is still consulting in the oil businesses. Holding various positions over the years, Dr. Simon Kukes has served as the principal of his personal investment company, SK Energy LLC, since April 2013. He is the CEO and Director of PEDEVCO Corp. His commitment to the oil and gas industry has inspired Dr. Simon Kukes to 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

He is mid 70's but active and will remain actively growing PED. He has set up his personal Fund SK LLC for his family and legacy. Most of PED is owned through SK.
-pete

[aabot]

I sure hope its BO. I think he will make a lot more money (and us) that way especially with the majors hunting for more opportunities to expand their BOE in the Permian Basin. This is my strongest conviction stock.

[ttubular]

What do all u think simons end game? He owns 2/3 of ped. Do u think he’s setting it up to Be BO or is he taking it private

[RyGuy]

$PED Pedevco CEO Simon Kukes has purchased 2,734,705 shares in the past 12 months.

https://www.ceo-buys.com/search?tickers=ped

[RyGuy]

Thanks for the comment Pete.

I'm certainly looking forward to seeing $PED garner some attention...

Their production should be more than doubling here for either the Q4 or Q1 periods I believe. Maybe it will get the markets attention then..

[RyGuy]

$PED WTI over $70

In Q4 or Q1 Pedevco's owned and interest in assets should produce roughly
2,500 boe/d

700 boe/d - legacy wells
300 boe/d - 2 new wells Pedeveco drilled estimate drilled
300 boe/d - their 5% interest expansion in 10 D-J wells
1000 boe/d - 3rd qtr project 34% in 6 niobrara wells
200 boe/d - 8 added new D-J Wells 4.7%

2,500 boe/d Total approximately

I think I'm underestimating here the total boe/d production.

@ $70 oil
$175,000 Day
$15,750,000 Qtr

https://www.otcmarkets.com/filing/html?id=16200784&guid=bSl-kqOqQls2dth

[RyGuy]

$PED What is Pedevco shares worth? Certainly not $1.05!
$90M - Market Cap and No Debt!
$30.5M - Cash!
53,700 - Leasehold Acres
2,500 - Boe/d Production Estimate Q1-23
$1,677 - Per Acre?!?! WTH!!!
$5,000 per acre = $3.12 share price?
$7,500 per acre = $4.69 share price?
$10,000 per acre = $6.25 share price?

6/27/2022
$STR Sitio Royalties acquired Quantum and Momentum Minerals
https://www.businesswire.com/news/home/20220626005095/en/Sitio-Royalties-Announces-Highly-Accretive-Permian-Basin-Acquisitions
$547,000,000 - Acquisition
31,900 - Leasehold Acres
3,500 - Boe/D Production
$17,147 - Per Acre

7/5/22
$REI Ring Energy acquires Stronghold
https://news.yahoo.com/ring-energy-acquire-stronghold-465-084500801.html
$465,000,000 Purchase
37,000 Acres
$12,568 Per Acre

10/11/2022
$FANG Diamond Back Energy acquires FireBird Energy
https://seekingalpha.com/news/3890488-diamondback-to-buy-permian-assets-from-firebird-in-cash-and-stock-deal
$1,600,000,000 - Acquisition
75,000 - Leasehold Acres
22,000 - Boe/d Production
$21,116 - Per Acre

PED should be at least $3-$4 a share right now.

Plus a CEO that has purchased 2,734,705 shares in past 12 months.
https://www.ceo-buys.com/search?tickers=ped

[futrcash]

Bullish!

futr

[pete807]

Thanks for posting
Simon is quiet. He does not feel the need to pump his undervalued (mostly privately owned) company.

Just a catalyst is needed to trigger the herd to run it and momentum with volume will do the rest.

$INDO $4.66
$HUSA 3.23
What does that make PED worth? Only what someone is willing to sell it for.

Your post clearly shows the squeeze to at least $5 results when so much of the float is locked up. Set yours for sale at a minimum double. JMO.
-pete

[RyGuy]

12 month trailing revenue and cash comparisons based on last reported Quarterlies....

$HUSA
Revenue - $1,720,000
Cash - $4,222,000

$INDO
Revenue - $3,730,000
Cash - $8,725,000

$PED
Revenue - $28,630,000
Cash - $30,500,000

[RyGuy]

$PED These are the 4 insiders from the Oil, Gas & Consumable Fuels Industry who bought the most shares through week ending 2022-12-23:

Hightower Jack | $HPK ($1,095,460)
Mulacek Phil E | $EP ($942,335)
Teague Aj | $EPD ($499,159)
Kukes Simon G | $PED ($351,909)

[Think1st]

When ef hutton talks people listen!!

[Think1st]

[Think1st]

https://www.marketscreener.com/quote/stock/PEDEVCO-CORP-34571712/news/EF-Hutton-Assumes-Coverage-on-PEDEVCO-With-Buy-Rating-2-40-Price-Target-42604499/

[janeyH]

EF Hutton Assumes Coverage on PEDEVCO With Buy Rating, $2.40 Price Target

[janeyH]

yup - lotta insider buying

[pete807]

Been impatient by nature so it is a slow walk to say the least. I took about half off the table and still have a ton, but sold all the green lots to work the money till "Simon Says".

If they acquire a player with some assets it will rocket the price I think. Last year I got in PED in early February and have over 900 transactions since, buying what looks low and taking profit when it looks overbought. All my shares are paid for from profits. It is interesting that they never pump it or even PR good results. I have learned to just forget about it, and won't add again till after Christmas.

GLTA!
-pete

[janeyH]

why?

[ttubular]

Way undervalued in my opinion

[pete807]

He has stated neither.

But he has stated growing the company into a highly respected energy conglomerate.

Two years ago they announced plans to acquire SandRidge, but when SD tried to sell the assets separately before the deal closed the offer was withdrawn.

I think PED remains active in pursuit of distressed energy assets open the cheap.

JMO
-pete

[ttubular]

He keeps buying up shares shows confidence. What is his end game u think?
Taking the company private or BO?

[Think1st]

PED ceo buys again today

2 filings

https://ih.advfn.com/stock-market/AMEX/pedevco-PED/stock-news/89833736/amended-statement-of-beneficial-ownership-sc-13d-a

https://ih.advfn.com/stock-market/AMEX/pedevco-PED/stock-news/89833747/statement-of-changes-in-beneficial-ownership-4

[Think1st]

Stock is also like spvnf slow growth.or steady growth etc etc
However the bet is buyout with ped

[futrcash]

Earnings Report-

https://www.nasdaq.com/press-release/pedevco-announces-q3-2022-financial-results-and-operations-update-2022-11-14

taking a little longer to ramp earnings but it's looking more likely in the near term with a significant production increase forecasted beginning next quarter...guidance looks good

futr