Pedevco Corp. (PED)

[Sheepdog]

Solimar jut released a new PR that only briefly hints at our well, stating:

The Company has been aggressively building its acreage position and adding to its California (Ventura) based operating team over the past 15 months and is positioning to exploit both its conventional (sandstone which includes the recent Guijarral Hills discovery) and unconventional (oil shales) reservoir projects.

However. in reading this PR, I am becoming a little skeptical of Solimar. Their PR's are starting to take the tone of many Hype and Pump PR's I have seen in past "oil" companies. They are taking too much credit for the "accomplishments" of third parties in "adjacent Areas".

Occidental (Occidental bought the Elk Hills Federal Petroleum Reserve for 10's of billions and that is about 40 miles south of our well) and Chevron have been the big players in this area for more than half a century and very vigorous in their exploitation of these fields. Solimar comes out of nowhere (Australia) and uncovers these gems out from under them in less than a year???

Maybe.....

Sorry, but this PR gave me bad vibes about Solimar, (not necessarily our well).