Pedevco Corp. (PED)

[Sheepdog]

The reports from the second zone are delayed. I see three possible reasons:

1) equipment problems - I think they would have said something like "testing delayed because of equipment problems", if this was the case.

2) They found oil and are pumping until they can determine a sustained production rate to report (no news would be good news)

3) They didn't find oil and are afraid to say anything so they don't tank before they try the last zone. (no news would be bad news)

I would have to say that #2 is the more likely but it would be approaching 10 days of such pumping and that should be getting close enough to tell them what they want to know. (not necessarily though.) I expect news very soon (of some sort)