Pedevco Corp. (PED)

[chemist72]

Still not profitable, but another 6 wells online could do it.

...complete and commence production on ... 6 wells ... by the end of the 1st quarter of 2020.

Average wells in PB are producing at least 400 BPD (barrels per day). In a 90 day period (roughly one quarterly period) that's 36,000 barrels of oil. Crude oil closed Friday at $57.44, but I'll multiply by $56 per barrel. That's roughly $2M per well per quarter. With 6 new wells coming online by the end of March 2020, PED should easily start turning a profit in Q2 2020 and for the rest of the year!

P.S. I calculate a book value of about $1.50 for PED from their 3rd quarter financials.

All in all, 2020 looks to be a very promising year for an increasing valuation of PED (jmho).