PEDEVCO Enters Joint Development Agreement for D-J Basin DSUs with Large PE-Backed Operator

PEDEVCO CORP

Operator pays ~$1.7M to PEDEVCO; PED submits spacing amendments to ECMC to increase DSUs from ~1,280 to ~1,600 acres.
PED transfers operatorship to Operator; each party holds >=40% working interest in Roth DSU.
Operator to drill five new horizontal wells in Roth DSU starting Q3 2025, completion expected Q4 2025; PED retains right to assume operations if not timely commenced.
Upon timely completion of five wells by June 30, 2026, Operator may acquire up to 50% of PED's Amber DSU interest, resulting in each holding ~45% working interest.
CEO cites prior successful projects with Operator and expects cost savings from continuous rig operations.

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