secwatch.observer — SEC 8-K summary
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Issuer:     PEDEVCO CORP (PED)
CIK:        0001141197
Form:       8-K
Filed at:   2025-03-03T23:59:59+00:00
Accession:  0001654954-25-002226
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1141197/000165495425002226/0001654954-25-002226-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1141197/000165495425002226/ped_8k.htm
  HTML page:      https://secwatch.observer/filing/0001654954-25-002226

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