Pedevco Corp. (PED)

[Flatsixer]

Called today...CFRI has had 15 bidders express interest in the auction of the rigs. This will be an auction in open Court on March 19.

Any sale above the Laurus offer will be booked as revenue to BESV. In any event...this is important...the auction absolutely guarantees that the indebtedness to the creditor will be completely extinguished. Perhaps Laurus has already sold the rigs to a third party so they're confident enough to prebid the whole nut.

After the auction BESV will have approx 40 days to submit their reorganization plan to the Court for approval.

Amazingly...the entire management team and BOD for BESV is still intact.

Flatsixer