Oil and Gas Exploration and Production Company, PEDEVCO is focused on the Redevelopment of Conventional Resources primarily in the Permian Basin

Although Mr. Schick presentation is rational he fails to mention why the former president of Pacific Energy Development was fired over letters from Pete Bennett.  One asset under PEDEVCO is the Peterson Family Trust which connects to former Danville Deputy Stephen Tanabe and local businessman Ray Nazemi where they are both connected to former Judge Golub and his brother Howard V. Golub former PG&E Senior Counsel and District Attorney Mark Peterson. 

There numerous Federal Indictments connected to this cast of characters. 

Wednesday, October 23, 2019 10:00 AM

J. Douglas Schick, Speaking with CEOCFO Magazine Explains their Focus on Conventional Oil and Gas Opportunities

HOUSTON, TX / ACCESSWIRE / October 23, 2019 / CEOCFO Magazine, an independent investment, business and resources news publication highlights the rebranding of PEDEVCO Corp. (NYSE American:PED) in an interview (https://www.ceocfointerviews.com/interviews/PEDEVCO19.htm) with J. Douglas Schick, President of PEDEVCO. The company, which formally did business as Pacific Energy Development, was originally headquartered in California with its primary asset in Colorado. However, in June of 2018, a new majority investor and new management team bought control of the company and moved the headquarters to Houston, Texas. Mr. Schick goes on to say, "At this point we changed our focus to acquiring assets in the Permian Basin rather than in Colorado, so the name Pacific Energy Development did not necessarily fit with our strategy, location or what we were doing."

Discussing their current assets, Mr. Schick states, "We have over 150 drilling locations in two of our Permian fields and potentially another 50 or more in another Permian field, plus another 100 or more drilling locations in Colorado. We have a very large inventory of high rate of return projects, zero debt and strong capital backing."

As to why PEDEVCO is bucking the current trend for oil and gas companies to gravitate towards shale, Mr. Schick commented, "We believe it is easier to build a profitable business long term in conventional oil and gas opportunities rather than unconventional shales."

Having recently raised $25 million through a private offering, Mr. Schick tells us "Those funds will be used for three different purposes. The first is to finish our 2019 development program where we are currently in the process of completing five wells that we drilled earlier in the year. The second use of funds is for our 2020 development program. The third use will be for opportunistic acquisition of producing assets and business combinations."

Sharing his thoughts on why PEDEVCO has been successful in raising capital, Mr. Schick tells us, "PEDEVCO is a little bit of an anomaly because we have been able to raise money over the past few years and get a few deals done. We not only have a highly experienced business development team, but we also have the financial support of one very good investor, SK Energy, that has been willing to do multiple equity investments in us to fund our acquisition, development and expansion plans."

With a business plan that includes using unconventional technology for conventional development, Mr. Schick points out, "The whole unconventional oil and gas sector is based on horizontal drilling technology and new frack completion technologies. All we are doing is taking those technologies from the unconventional space and using them in the conventional space to access oil and gas reserves from old existing fields that were not recovered using previous technology."

In conclusion, Mr. Schick tells CEOCFO, "If you want to invest in the sector, you want to look for a company with a sustainable business model, quality assets that are going to be able to generate good cash flow long into the future, strong capital support, and no debt. PEDEVCO is that company."

Contact:

Bud Wayne
Editorial Executive
CEOCFO Magazine
570-851-1745
budwayne@ceocfomagazine.com

SOURCE: CEOCFO Magazine

Read More

The Peterson Family Trust to the pending implosion of Albert D. Seeno

SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* PETERSON MICHAEL L (Last) (First) (Middle) 4125 BLACKHAWK PLAZA CIRCLE SUITE 201 (Street) DANVILLE CA 94506 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol  PEDEVCO CORP [ PED ]	5. Relationship of Reporting Person(s) to Issuer  (Check all applicable) Director 10% Owner X Officer (give title below) Other (specify below) President and CEO
	3. Date of Earliest Transaction (Month/Day/Year) 09/07/2016
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) X Form filed by One Reporting Person Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	09/07/2016		S	V	32,500(1)	D	$0.1728	1,138,528(2)	D
Common Stock								5,209	I	By The Peterson Family Trust(3)
Common Stock								36,668	I	By dependent children(4)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Incentive Stock Option (Right to Buy)	$0.22							01/07/2016	01/07/2021	Common Stock	300,000		300,000	D
Incentive Stock Option (Right to Buy)	$0.37							01/07/2015	01/07/2020	Common Stock	325,000		325,000	D
Incentive Stock Option (Right to Buy)	$0.51							12/18/2012	06/18/2022	Common Stock	63,800		63,800	D
Non-Qualified Stock Option (Right to Buy)	$0.24							03/01/2012	10/07/2021	Common Stock	100,000		100,000	D
Non-Qualified Stock Option (Right to Buy)	$0.51							12/18/2012	06/18/2022	Common Stock	269,534		269,534	D
Non-Qualified Stock Option (Right to Buy)	$67.2							09/20/2008	05/28/2018	Common Stock	447		447	D
Non-Qualified Stock Option (Right to Buy)	$30.24							02/02/2011	02/02/2021	Common Stock	2,977		2,977	D

Explanation of Responses:

1. Shares were sold pursuant to a 10b5-1 trading plan previously adopted by Reporting Person to satisfy Reporting Person's tax liability in connection with the September 7, 2016 vesting of certain shares of restricted stock which were granted under the Company's 2012 Equity Incentive Plan, which grants were exempt from Section 16(b) pursuant to Rule 16b-13(d).

2. Reporting Person's holdings include: 45,000; 198,750; 126,500; 180,000; 109,745 and 470,935 shares issued pursuant to restricted stock grants; 7,449 issued pursuant to debt conversion and 149 issued pursuant to a 2008 Blast stock grant.

3. Represents shares held by the Peterson Family Trust, a Trust owned 100% by Mr. Peterson and his spouse.

4. Represents shares of common stock 50% owned by each of Reporting Person's two dependent children.

	/s/ Clark Moore, Attorney in Fact	09/09/2016
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Read More