Pedevco Corp. (PED)

[RyGuy]

$PED Ring Energy acquired Stronghold 37,000 Acres in the Permian Basin for $465 Million
https://www.benzinga.com/pressreleases/22/07/g27949466/ring-energy-announces-agreement-to-acquire-strongholds-permian-basin-assets

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

12/21/21
Earthstone acquires Chisholm Permian Assets
https://www.naturalgasintel.com/earthstone-acquiring-chisholm-permian-delaware-assets-in-604m-deal/
$604,000,000 Purchase
36,100 Acres
$16,731 Per Acre

6/10/22
Devon Energy Acquires Rimrock Oil Assets
https://www.rigzone.com/news/devon_energy_in_865mm_bolton_deal-10-jun-2022-169294-article/
$865,000,000 Purchase
37,800 Bakkan Acres
$22,884 Per Acre

Pioneer paid $66K for 97,000 mostly undrilled acres in the Permian. When oil was between $65-$70
https://www.currentargus.com/story/news/local/2021/04/06/pioneer-natural-resources-buys-6-4-billion-permian-basin-assets/4840030001/

Pedevco controls 53,700 net acres
Https://s3.amazonaws.com/cdn.irdirect.net/PIR/480/6433/PEDEVCO-Investor-Presentation-2022-Spring.pdf
41,700 Permian Acres
12,000 DJ Basin Acres.
If PED were valued similarly by the market in comparison
$15,000 per acre = $9.42 share price
$12,500 per acre = $7.85 share price
$10,000 per acre = $6.28 share price
$7,500 per acre = $4.71 share price
$5,000 per acre = $3.14 share price
$4,000 per acre = $2.51 share price
We will have our day soon.