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That is a horrible and distasteful comment.
Nice to see there is now a plan and partnership in place to expand production in their New Mexico Permian Basin acreage.
$PED comparing other companies to Pedevco
4/19/23
Riley Permian acquired New Mexico assets from Pecos Oil & Gas for $330,000,000
https://rextag.com/blog/Riley-Permian-Secures-330-Million-Acquisition-in-Thriving-New-Mexico-A-Strategic-Move-with-Promising-Returns
Purchase: $330,000,000
Acreage: 11,700 net
boe/d: 7,200
$PED
Market Cap: $76.77M
Acreage: 53,700 net
boe/d: 2,006 * Q2 2023 and growing
debt: $ 0
cash: $19,000,000
$PED In February of this year Permian Resources acquired 4,000 net leasehold acres and 1,100 Boep/d of production for $98 Million.
https://seekingalpha.com/news/3925315-permian-resources-buys-new-mexico-acreage-for-98m-sells-70m-in-properties
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.
https://www.ringenergy.com/news-presentations-events/press-releases/detail/180/ring-energy-announces-agreement-to-acquire-strongholds
3/2/23 Riley acquired Pecos
https://pboilandgasmagazine.com/riley-exploration-permian-acquires-oil-gas-assets-in-eddy-county/
$330,000,000 - Acquisition
11,700 - Net Acres
7,200 - Boe/d
$PED
$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.
$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.
https://www.investing.com/commodities/crude-oil
$PED (Pedevco) is a profitable company with WTI oil around $58 a barrel. WTI finished today at $82.64.
https://www.investing.com/commodities/crude-oil
The EIA just reported that, American commercial crude oil stockpiles, plunged last week by 17 million barrels. The largest weekly drop in inventory going back more than 40 years.... and oil is down $2...
LOL
$PED is a profitable company with oil around $58 a barrel. Currently WTI oil futures are trading at $81.64
https://www.investing.com/commodities/crude-oil
$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
Market Cap:
$PED - $79 Million
$EPSN - $131 Million
Come on PED!!!!
https://www.marketscreener.com/quote/stock/PEDEVCO-CORP-34571712/news/EF-Hutton-Assumes-PEDEVCO-at-Buy-With-2-40-Price-Target-44269489/
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.
https://www.reuters.com/markets/commodities/oil-ticks-up-drop-us-crude-gasoline-stocks-exceeds-view-2023-06-28/
$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.
https://docs.google.com/spreadsheets/d/1N0CKiKVoegOuBhwuDnfQ3Qi3KV3pYlxtK9GszffOau4/edit?usp=sharing
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.
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...
Grow the company for an eventual sale would be my guess.
Wouldn't most think that is the eventual end game goal?
$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
$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
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
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.
$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?
$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!
$PED Pedevco CEO Simon Kukes has purchased 2,734,705 shares in the past 12 months.
https://www.ceo-buys.com/search?tickers=ped
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..
$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
$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
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
$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)
$7 Taseko shares in the future will be nice
TASEKO AND MITSUI ENTER STRATEGIC PARTNERSHIP TO DEVELOP FLORENCE COPPER
https://www.prnewswire.com/news-releases/taseko-and-mitsui-enter-strategic-partnership-to-develop-florence-copper-301706646.html
This sets the option value of Florence alone at (10%) to be approximately $3.50 a share. Doesn't account for any additional value of Gibraltar today or the future asset value of Yellowhead...
Taseko (TGB) based on this valuation alone should easily be a $7 stock.
Your back!
Simon Kukes owns 65% of the O/S and he isn't getting any younger..... It only makes sense at some point in the future for him to reap the benefits of his investment. Who knows the timeline of that though...
Federal Government under Biden isn't going to give any oil & gas exploration and production companies access to federal lands.... That's why we been seeing a lot of M&A the past 2 years so these companies are building up their land inventories.
JMO
$PED 8/9/22 Devon Energy buys Validus for $1.8Billion.
spglobal.com/commodityinsig...
Devon Energy made what it called a $1.8 billion "bolt on" acquisition Aug. 9 of privately held Validus Energy
The acquisition consists of 42,000 net acres in Karnes County, Texas, adjacent to Devon's DeWitt County position. The acreage comes with a current 35,000 boe/d of production, 70% oil, which is projected to rise to 40,000 boe/d in 2023, the company said.
Acres - 42,000
Price - $1.8 Billion
Boe/d - 35,000
Per Acre - $42,857
I know PED won't be acquired for $42 per acre with roughly 3,000 boe/d spread across the 53,700 acres and interests....
But valuing PED at $1.20 per share is just insane... What is PED legitimately worth in an acquisition scenario.... That is where I think we get paid.
$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price
$PED So what is Pedevco's 53,700 acres worth?
$1,911 per acre @ $1.20 per share?
Or
$4,000 per acre = $2.51 share price
$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price
In Q3 Pedevco's interest and owned assets should produce roughly
3,300 boe/d
710 boe/d - legacy wells
800 boe/d - new wells estimate
400 boe/d - their 5% interest
1390 boe/d - 3rd qtr project 34% in 6 niobrara wells
3,300 boe/d Estimate
@ $90 oil
$297,000 Day
$27,027,000 Qtr
@ $100 oil
$330,000 Day
$30,030,000 Qtr
Compare....
https://www.businesswire.com/news/home/20220626005095/en/Sitio-Royalties-Announces-Highly-Accretive-Permian-Basin-Acquisitions
Sitio Royalties buys Quantum and Momentum Minerals
31,900 acres
3,500 boe/d
$547,000,000 Purchase
$17,147 per Acre
https://www.naturalgasintel.com/earthstone-acquiring-chisholm-permian-delaware-assets-in-604m-deal/
Earthstone acquired Chisolm Energy
36,100 acres
13,500 boe/d
$604,000,000 Purchase
$16,731 per Acre
https://www.benzinga.com/pressreleases/22/07/g27949466/ring-energy-announces-agreement-to-acquire-strongholds-permian-basin-assets
Ring Energy acquires Stronghold
37,000 acres
9,100 boe/d
$465,000,000 Purchase
$12,568 per Acre
$PED so oil is dropping because the American Petroleum Institute reported surge in crude inventories of 2.165 million barrels….. But the only reason we had that surge is because the Department of Energy released 4.6 million barrels from the strategic reserves. ??
That tells me we really have a weekly 2.5 Million barrel production shortfall! ??
$PED My low to high-end guesstimates on Q2 Revenues.
Pedevco
41,700 Permian Acres
12,000 DJ Acres
Low End:
700 boe/d - Legacy Wells
500 boe/d - New Permian wells completed in Q1
400 boe/d - Their other partial interest in wells estimated 5%
1,625 boe/d - Low Estimate
@ $100 oil average
$162,500 Day
$14,787,500 Qtr
High End:
715 boe/d - Legacy Wells
1000 boe/d - New Permian wells completed in Q1
410 boe/d - Their other partial interest in wells estimated 5%
2,125 boe/d - High Estimate
@ $110 oil average
$233,750 Day
$21,271,250 Qtr
$PED Look what Sitio Royalties Corp. paid for a total of 31,900 Permian acres and an estimated 3,500 boe/d of added production. ($547,000,000) https://www.naturalgasintel.com/newly-formed-sitio-snapping-up-permian-acreage-increasing-production-with-pair-of-acquisitions/
I sound like a broken record... What is PED worth? What does everyone else think?
Pedevco
41,700 Permian Acres
12,000 DJ Acres
715 boe/d - Legacy Wells
800 boe/d - New Permian wells completed in Q1
410 boe/d - Their other partial interest in wells estimated 5%
1,925 boe/d - Current Estimate
@ $100 oil potential Revenues are:
$192,500 Day
$17,517,500 Qtr
$70,070,000 Yr
Add in their recently PR'd $12 Million investment and 34% interests in 6 new Niobrara Wells
+1,392 boe/d - in Q3 completion
Q3 - 3,317 boe/d potentially
@ $100 oil potential Revenues are:
$331,700 Day
$30,184,700 Qtr
$120,738,800 Yr
$4,000 per acre = $2.51 share price
$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price
$PED It is acquisitions in the O&G industry like these that make me believe PED is very undervalued.
https://www.naturalgasintel.com/newly-formed-sitio-snapping-up-permian-acreage-increasing-production-with-pair-of-acquisitions/
Sitio, the company formed when Desert Peak Minerals and Falcon Minerals Corp. completed their merger this year, said late last month that it acquired more than 19,700 net royalty acres (NRA) for around $323 million from Foundation Minerals LLC.
Sitio also bought more than 12,200 net royalty acres from Momentum Minerals. The Permian assets sold for around $224 million in a deal expected to close in the third quarter of 2022.
Together, the two transactions are expected to provide Sitio with net production of 3,500 boe/d. PED will have over 3,00 boe/d too.
These lead me to believe that a share price of $6 -$10 is not unrealistic for PED.
$4,000 per acre = $2.51 share price
$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price
$PED: Pedevco Corp Operations Update from 5/16/22 8K
https://www.otcmarkets.com/filing/html?id=15822278&guid=WKU-knejEd9kdth
In the D-J Basin, we recently elected to participate in an additional six horizontal Niobrara wells in the Barracuda Unit operated by a third-party operator, with the Company holding a ~34.38% working interest at an estimated net cost to us of ~$12.5 million. These wells are scheduled to be drilled in Q2 2022 with first production anticipated in Q3 2022 following the planned completion of these wells.
The Company also reports that, based on production reports received from the operator, the production performance of the ten D-J Basin wells completed in Q4 2021 in the Hunt 8-60 17B-8 Unit and Hunt 8-60 17B-20 Unit which are operated by Civitas Resources Inc. (acquired by Civitas from Bison Oil & Gas II, LLC in February 2022) in which the Company holds working interests ranging from ~3.68% to ~7.37% have exceeded the Company’s expectations and continue to outperform the Company’s type curve.
What is $PED acreage worth? Pedevco owns:
41,700 Permian Acres
12,000 DJ Basin Acres
715 boe/d - legacy wells
800 boe/d - new wells estimate
410 boe/d - their 5% interest
1,925 boe/d - total current estimate
@$100 oil
$192,500 Day
$17,517,500 Qtr
$70,070,00 Yr
+1392 boe/d from 3rd qtr project
Q3- 3,317 boe/d potentially
@ $100 oil
$331,700 Day
$30,184.7000 Qtr
$120,738,800 Yr
$4,000 per acre = $2.51 share price
$5,000 per acre = $3.14 share price
$7,500 per acre = $4.71 share price
$10,000 per acre = $6.28 share price
$12,500 per acre = $7.85 share price
$15,000 per acre = $9.42 share price
7/5/22
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
6/27/22
https://www.businesswire.com/news/home/20220626005095/en/Sitio-Royalties-Announces-Highly-Accretive-Permian-Basin-Acquisitions
Sitio Royalties bought Quantum
$323,000,000
19,700 Acres
$16,396 per Acre
Sitio Royalties bought Momentum Minerals
$224,000,000
12,200 Acres
$18,361 per Acre