secwatch.observer — SEC 8-K summary
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Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2023-09-13T23:59:59+00:00
Accession:  0001654954-23-011790
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

PEDEVCO farms out 50% WI in Chaveroo field to Evolution for $401,733 initial payment
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- Initial payment of $401,733 for 50% working interest in first two Development Blocks covering 9 drilling locations on ~16,000 acres.
- Evolution may acquire 50% WI in subsequent blocks at $450/net acre; PEDEVCO remains operator under standard operating agreement.
- Chaveroo field estimated 700+ million barrels OOIP with less than 5% recovered; horizontal infill drilling de-risked.
- Agreement term through Dec 31, 2025; block-by-block farm-in with up to nine horizontal San Andres wells per block.
- PEDEVCO to redirect capital to DJ Basin growth; Evolution gains Permian exposure and supports its dividend.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423011790/0001654954-23-011790-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495423011790/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-23-011790

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