PEDEVCO reports three new San Andres wells in Permian with peak 300-375 BOEPD each

PEDEVCO CORP

Three horizontal San Andres wells drilled Q4 2023, completed Jan 2024; first production late Jan/early Feb 2024.
All three wells peaked at ~300-375 gross BOEPD per well (~80% oil) in late February.
Current average production over last 30 days exceeds 750 BOEPD gross, with shallower-than-expected declines.
Partner Evolution Petroleum farmed-in for 50% WI in these wells; next development phase being planned.
Agreement covers ~16,000 gross acres in Chaveroo Field, New Mexico; PEDEVCO remains operator.

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