Pedevco Corp. (PED)

[RyGuy]

$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.