Pedevco Corp. (PED)

[RyGuy]

$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