Pedevco Corp. (PED)

[Flatsixer]

Your concept of the Blast AFJ rig operation is askew...

The Blast AFJ technology has been improved steadily. Blast doesn't claim that they can steer the jet but they are currently developing a sensor to measure the distance, orientation, and inclination of the lateral tunnels created.

Additionaly, in the process the AFJ isn't "...going horizontally 90 feet in a large diameter open hole." Here is how it works...the jetting mechanism is turned 90 degrees inside of a 4 and 1/2 inch wellbore and jetting out into the formation perpendicular to the wellbore. Also, the lateral runs are NOT limited to 90 feet, the AFJ rig can go further. In any event, you can check with Reliance O&G who was the licensed operator on the bore. It was their decision as I hear it to stay within the Texas RRC regulations limiting the horizontal displacement to <100 feet.

I don't think you are going to have an opportunity to see the AFJ rig at an auction, lol.

Like I said, lets just see what happens over the next 2 weeks as the SHM is held and new initiatives are approved. BESV is overdue for PR or 8-K IMO.

Flatsixer