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PEDEVCO Announces 2024 Financial Results

1. PEDEVCO reported a 29% increase in daily oil production in 2024. 2. The company produced an average of 1,835 BOEPD, bolstering growth outlook.

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FAQ

Why Bullish?

The 29% production increase is significant, similar to historical growth scenarios like in 2018 when producers experienced price boosts due to rising output.

How important is it?

The production increase directly impacts revenue potential, suggesting strength in operations that could attract investor interest.

Why Short Term?

Increased production typically leads to higher immediate market interest and potential price appreciation, observed after recent production announcements in the energy sector.

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HOUSTON, TX / ACCESS Newswire / March 31, 2025 / PEDEVCO Corp. (NYSE American:PED) ("PEDEVCO" or the "Company"), an energy company engaged in the acquisition and development of strategic, high growth energy projects in the U.S., today announced its financial results for the year ended December 31, 2024. Key Highlights Include: Produced an average of 1,835 barrels of oil equivalent per day ("BOEPD") (73% oil, 85% liquids) in 2024, increasing 29% over average daily production in 2023.

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