Followers | 1 |
Posts | 17 |
Boards Moderated | 0 |
Alias Born | 04/22/2015 |
Friday, May 22, 2015 4:29:06 AM
At closing, Dome Energy Inc.’s CEO and President, Paul Morch, will become CEO and President of the combined entity, with the current CEO of PEDEVCO, Frank Ingriselli, becoming Chairman of the Board. The Companies expect to complete the transaction no later than November 19, 2015. Final terms will be presented before the Annual General Meeting and are subject to shareholder approval.
The companies anticipate that combined production for the merged entity will be approximately 3,300 boepd with proven reserves of approximately 20 million barrels of oil equivalent. The Company believes the strong cash flow and scalability of the combined assets along with operational and financial efficiencies will enhance shareholders value for both Companies.
Chief Executive Officer, Paul Morch, stated: “This is one step closer to achieving our vision of securing scalable shale assets to complement our existing portfolio. Our goal is to grow organically to reach 10,000 boepd through the organic development of our asset base. We now have secured a solid financial base along with some of the most profitable grade shale acreage in the US. We are excited to work together with the PEDEVCO team to bring this transaction to a close. The oil price has seen a good correction from levels earlier this year, which supports an aggressive development of our assets. Good shale assets are considered more valuable than ever, and the development costs have started to balance at an attractive level. Core acreage in PEDEVCO’s acreage should support more than 100 wells being developed at current oil and gas prices. We will also hold inventory than can be scaled to several hundred wells at a higher oil price.”
Recent PED News
- Form EFFECT - Notice of Effectiveness • Edgar (US Regulatory) • 09/23/2024 04:15:17 AM
- Form S-3 - Registration statement under Securities Act of 1933 • Edgar (US Regulatory) • 09/11/2024 09:38:08 PM
- Form S-8 - Securities to be offered to employees in employee benefit plans • Edgar (US Regulatory) • 09/11/2024 08:22:30 PM
- Form 10-K/A - Annual report [Section 13 and 15(d), not S-K Item 405]: [Amend] • Edgar (US Regulatory) • 09/10/2024 08:50:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:52:11 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/30/2024 08:52:08 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/30/2024 08:31:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/14/2024 08:40:57 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/14/2024 08:30:29 PM
- Form ARS - Annual Report to Security Holders • Edgar (US Regulatory) • 07/12/2024 08:12:51 PM
- Form DEFA14A - Additional definitive proxy soliciting materials and Rule 14(a)(12) material • Edgar (US Regulatory) • 07/12/2024 08:07:03 PM
- Form DEF 14A - Other definitive proxy statements • Edgar (US Regulatory) • 07/12/2024 08:05:34 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/15/2024 08:45:51 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 08:31:07 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 02/05/2024 10:22:35 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:30 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:28 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:24 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 01/29/2024 09:31:21 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 01/29/2024 09:30:51 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:51:22 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:44:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/25/2024 11:11:06 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 02:03:38 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 01/24/2024 01:55:39 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM
Dear Cashmere Group Holding Co. AKA Swifty Global Signs Binding Letter of Intent to be Acquired by Signing Day Sports • DRCR • Sep 19, 2024 10:26 AM
HealthLynked Launches Virtual Urgent Care Through Partnership with Lyric Health. • HLYK • Sep 19, 2024 8:00 AM
Element79 Gold Corp. Appoints Kevin Arias as Advisor to the Board of Directors, Strengthening Strategic Leadership • ELMGF • Sep 18, 2024 10:29 AM
Mawson Finland Limited Further Expands the Known Mineralized Zones at Rajapalot: Palokas step-out drills 7 metres @ 9.1 g/t gold & 706 ppm cobalt • MFL • Sep 17, 2024 9:02 AM
PickleJar Announces Integration With OptCulture to Deliver Holistic Fan Experiences at Venue Point of Sale • PKLE • Sep 17, 2024 8:00 AM