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PEDEVCO Announces Entry into Joint Development Agreement with Large Private Equity-Backed D-J Basin E&P Company

1. PEDEVCO enters a joint development agreement for Roth and Amber DSUs. 2. Operator will pay $1.7 million and gain operational control.

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FAQ

Why Bullish?

The agreement signifies strategic growth, similar past partnerships have driven stock prices up.

How important is it?

This agreement strengthens PED's operational capabilities, making it a pivotal moment for the company.

Why Long Term?

This development can lead to increased production and profitability over time, enhancing PED's market position.

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HOUSTON, TX / ACCESS Newswire / March 3, 2025 / PEDEVCO Corp. (NYSE American:PED) ("PEDEVCO") today announced that it has entered into a joint development agreement ("Agreement") with a large, Denver, Colorado-based private equity-backed D-J Basin E&P Company with extensive operational experience ("Operator"), pursuant to which the companies have agreed to jointly participate in the expansion and development of the Company's Roth and Amber DSUs located in Weld County, Colorado. Pursuant to the Agreement, in exchange for the Operator's payment to the Company of approximately $1.7 million, the Company agreed to submit to the Colorado Energy and Carbon Management Commission (the "ECMC") spacing applications to amend the Company's existing Roth and Amber DSUs to increase each of their sizes from ~1,280 acres to ~1,600 acres, transfer operatorship of the DSUs to the Operator, and jointly participate in the development of the Roth DSU with each party having not less than a 40% working interest.

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