PEDEVCO CORP

PEDEVCO and Citibank raised the credit facility's borrowing base from $120 million to $125 million, reflecting the larger asset base built through the North Peak/Century acquisition.

debt financing

PEDEVCO filed a follow-up disclosure re-detailing the October 2025 North Peak/Century merger and its concurrent $35 million PIPE financing, confirming the preferred-to-common conversion mechanics and the heavy participation of company insiders and Juniper Capital Advisors in the financing.

business combination

A further $5 million drawn a month later, again with the preferred holders' consent -- $98 million of the $120 million borrowing base used since the October 2025 merger closed, and the second such consent in five weeks.

debt financing

Drew another $6 million on the Citibank facility for non-operated wells and payables -- and needed permission to do it. North Peak and Century, the Juniper Capital vehicles that took 17,013,637 Series A preferred shares in the October 2025 merger, can veto any borrowing over $500,000, and consented on 6 January. The price of the deal that transformed PEDEVCO's scale is that its new preferred holders now control its chequebook.

debt financing

PEDEVCO closed a transformational merger, acquiring North Peak Oil & Gas and Century Oil and Gas Sub-Holdings (backed by Juniper Capital Advisors) for 10.65 million shares of new convertible preferred stock (convertible into 106.5 million common shares) plus a concurrent $35 million PIPE financing at $5.50/share led by Executive Chairman Dr. Simon Kukes' family trust and a Juniper Capital affiliate - by far the largest, most dilutive deal in the company's history, with the acquired companies' own CEO and CFO taking over as PEDEVCO's COO and CFO.

business combination

PEDEVCO restated its audited FY2024 financials after a tax-provision error overstated its tax benefit and deferred tax asset by about $5.5 million - the third restatement in roughly two years, again with no cash or liquidity impact, but a recurring pattern that raises real questions about the company's internal financial controls.

financial restatement

PEDEVCO restated its audited FY2023 and FY2022 financials after finding depletion-expense accounting errors that had overstated depreciation/depletion/amortization by about $1.4 million and $1.25 million respectively - the second restatement in under two years, with no cash or liquidity impact.

financial restatement

PEDEVCO secured its first conventional bank credit line: a four-year senior secured revolving facility from Citibank with an initial $20 million borrowing base (up to $250 million maximum), secured by nearly all company assets - a marked upgrade from the high-cost private note financing (RJ Credit and similar lenders) that had constrained the company for a decade.

security holder rights change

PEDEVCO's Audit Committee determined its Q2 2023 financials needed restatement after finding a revenue-accrual error - unreversed accruals from new third-party well operators had overstated net revenue on 14 wells and skewed reported production, costs and depletion for the quarter. No misconduct was found and the fix was still preliminary.

financial restatement

PEDEVCO farmed out half its working interest in the Chaveroo Field (Permian Basin, New Mexico) to Evolution Petroleum, covering 16,000 gross acres across twelve development blocks where the two will jointly drill up to nine San Andres wells per block - Evolution paid $401,733 for the first two blocks with options to expand block-by-block, and PEDEVCO stays operator - a capital-light way to accelerate development of the asset it bought in 2018.

material agreement

PEDEVCO raised about $7 million gross in a registered direct offering (4.46 million shares at $1.57/share) to an institutional investor, earmarked for Permian and DJ Basin development and possible acquisitions - its second strongly-priced capital raise of 2021.

material agreement

PEDEVCO raised about $7.8 million gross in an underwritten public offering (5.19 million shares at $1.50/share) led by Kingswood Capital Markets - pricing far above its distressed 2015-era raises, reflecting the 2021 oil-price recovery.

material agreement

Terminated the SandRidge Permian Trust exchange offer on November 17, 2020 without acquiring any units; all tendered units were returned to holders — the bid failed.

business combination

Filed the S-4 registering PEDEVCO shares to be issued in the SandRidge Permian Trust exchange offer: 0.4 shares of PEDEVCO common stock for each Trust common unit tendered.

business combination

Launched a tender/exchange offer, through subsidiary SRPT Acquisition LLC, for all ~52.5 million common units of SandRidge Permian Trust — a separate, Permian-focused royalty trust — an implied ~$23.5 million deal, PEDEVCO's first attempt to acquire rather than be acquired.

business combination

Cut every salary by 20% as the oil price collapsed, and gave President Schick the right to leave with a year's pay if even the reduced salary went unpaid. The same announcement carried PEDEVCO's best year yet -- $13 million of revenue, production up 186% to 266,070 barrels of oil equivalent, reserves up to 14.0 million barrels, and the first positive operating cash flow in over a decade -- reported the week the market took it all away.

director officer appointment

Raised $25 million in fresh equity: $12 million from new, unaffiliated investor Viktor Tkachev at $1.4286/share and a further $13 million from SK Energy at a premium price, broadening the investor base slightly beyond the CEO.

capital raising announcement

An amended report on the May 2019 raise: SK Energy bought 6,818,181 shares at $2.20, a premium to market, for $15.0 million, lifting Kukes's holding from 78.2% to 81.0%, alongside 1,500,000 shares sold to two unaffiliated buyers at $2.00. The money went into the 2019 Permian drilling programme and further Permian acquisitions.

capital raising announcement

SK Energy invested a further $15 million in cash at $2.20/share — a premium to market — to fund the 2019 Permian development and acquisition program, raising Dr. Kukes' stake from 78.2% to 81.0% of the company.

capital raising announcement

Made SK Energy's $7.7 million June 2018 note convertible, and SK Energy separately bought out more than $1.5 million of other insiders' and directors' notes — further consolidating the company's convertible debt under the CEO's control.

capital raising announcement

Removed the 49.9% ownership cap on SK Energy's convertible notes, after which SK Energy converted over $22 million of principal and interest (the January 2019 and October 2018 notes) into roughly 14.1 million shares, taking Dr. Kukes' vehicle to 47.1% of the company.

capital raising announcement

PEDEVCO closed a bolt-on purchase of about 22,000 additional Permian Basin leasehold acres from Manzano LLC and Manzano Energy Partners II for $700,000, expanding the position it established in August 2018.

asset acquisition disposition

Acquired Permian Basin (San Andres play) assets from Manzano LLC and Manzano Energy Partners II for $700,000, and closed a further $15 million convertible note from SK Energy/Dr. Kukes (convertible at $1.50/share) to fund a 16-well horizontal drilling program, the first four wells of which had already reached total depth.

capital raising announcement

SK Energy put in another $7 million on a three-year 8.5% convertible note at $1.79 a share, to drill the first four Permian wells and fund non-operated DJ Basin activity -- the third Kukes financing in four months.

capital raising announcement

Frank Ingriselli left for good four months after returning as chief executive, waiving up to eighteen months' severance in return for accelerating 140,000 unvested shares -- a cheap exit for a company still counting cash. The same day PEDEVCO set out its plan for the newly bought Chaveroo and Milnesand fields: infill horizontal drilling down to 20-acre spacing, four wells first and twelve more in 2019.

director officer appointment

PEDEVCO entered the Permian Basin for the first time, closing an $18.5 million purchase of San Andres-play assets (~23,000 net operated leasehold acres in west Texas/eastern New Mexico) plus a related $500,000 stock deal for two operating companies - and, in the same filing, repurchased warrants from its former Tranche B noteholders (including longtime lender RJ Credit) for about $1.1 million after fully repaying that note in June 2018, closing out the RJ Credit-era debt saga that had constrained the company since 2014.

asset acquisition disposition

Raised $23.6 million of 8.5% convertible notes -- $22 million of it from Kukes's SK Energy, the rest from directors and a few outsiders -- to fund an agreement to buy over 23,000 net acres of the San Andres play in the Permian Basin from Hunter Oil, and took full ownership of the Condor DJ Basin joint venture. J. Douglas Schick joined as president, the head office moved to Houston, and auditor GBH CPAs was folded into Marcum; GBH's last two reports had both carried going-concern warnings.

director officer appointment

SK Energy LLC, an investment vehicle wholly owned by CEO Dr. Simon Kukes, converted all 66,625 shares of preferred stock it held (issued in the 2015 Golden Globe DJ Basin deal) into 6,662,500 common shares — 45.8% of shares outstanding — triggering a change of control under NYSE American rules and marking the start of Kukes' financial takeover of the company.

capital raising announcement

The day PEDEVCO stopped being a distressed borrower. Simon Kukes's SK Energy lent $7.7 million at 8%, and the proceeds retired essentially all the old debt: $5.7 million of Tranche A notes settled for $3.8 million, and about $67.7 million of junior notes owed to RJ Credit, MIE Jurassic and the Tranche B holders settled for $3.88 million. SK Energy separately bought Golden Globe's Series A preferred -- convertible into 47.6% of the company -- for $100,000. More than $75 million of debt erased at roughly ten cents on the dollar, and control of the company handed to one man.

capital raising announcement

Founder Frank Ingriselli returned as chief executive on $250,000 a year as Michael Peterson left, two years after Ingriselli had stepped aside for him. He lasted four months.

director officer appointment

Just six weeks after signing, Dragon Gem Limited terminated the $12 million Series B Preferred/warrant investment - the second major financing deal to fall through in 2017, after GOM Holdings, leaving PEDEVCO still searching for a capital solution.

material agreement termination

PEDEVCO signed a definitive agreement for Hong Kong investors Dragon Gem Limited and Absolute Frontier Limited to invest $12 million in cash for Series B Preferred Stock and warrants - the capital infusion contemplated by June's term sheet, badly needed after the GOM merger collapsed.

material agreement

PEDEVCO terminated its GOM Holdings merger - stalled roughly 18 months without closing amid ongoing lender payment deferrals - to instead pursue a non-binding deal with a Hong Kong investor group to restructure its senior debt and inject new equity, entering a 90-day exclusivity period; no termination penalty was owed on the GOM deal.

material agreement

NYSE MKT confirmed PEDEVCO regained compliance with the minimum share-price listing rule after completing a 1-for-10 reverse stock split in April 2017, resolving the low-price delisting threat issued in November 2016.

listing compliance notice

NYSE MKT accepted PEDEVCO's plan to regain compliance with the minimum stockholders'-equity listing rule - the third listing-compliance issue in two years - giving the company until June 2018 to fix its balance sheet or face delisting.

listing compliance notice

NYSE MKT warned PEDEVCO that its stock has traded at or below $0.20/share since early October 2016 and that it must complete a reverse stock split by May 2017 to stay listed - a second, more severe listing threat coming as the GOM Holdings merger remains unresolved nearly a year after it was announced.

listing compliance notice

PEDEVCO issued an update on its still-unclosed GOM Holdings merger and DJ Basin plans nearly nine months after the deal was announced, with no closing date given - a sign the transformational, debt-heavy acquisition was struggling to reach the finish line.

business combination

Restructured roughly $39 million of senior debt (capitalizing accrued interest, extending maturities to 2019, and creating a new $26 million Tranche A facility at 15% interest) while the pending GOM Holdings merger — announced the prior December — remained unclosed; management called it 'weathering the storm' of the oil-price downturn.

capital raising announcement

Deleted the closing deadline from the GOM Holdings merger agreement altogether -- an open-ended extension for a deal announced four months earlier -- and cut costs by moving founder Frank Ingriselli from chief executive and executive chairman to non-executive chairman paid through his own consulting firm, with Michael Peterson promoted to chief executive and Gregory Overholtzer to chief financial officer. Explicitly framed as preparing for the merger and the senior-debt restructuring; the GOM merger was terminated in June 2017 having never closed.

director officer appointment

PEDEVCO's senior lenders extended their payment deferral by another month, the third such extension since the arrangement began in August 2015, as the GOM Holdings merger continued to drag past its planned closing dates.

material agreement

PEDEVCO and Dome Energy settled all remaining matters from their failed merger: Dome reconveyed the Wattenberg wellbore interests it had been assigned back to Red Hawk (which now bears all remaining drilling/completion costs, to be funded by financing still being finalized), the parties cancelled their service agreement, and Dome agreed to pay just $50,000 against the $155,980 it owed Red Hawk under that agreement.

debt financing

PEDEVCO's senior lenders granted yet another one-month deferral of interest and principal payments, continuing to give the company room to close the delayed GOM Holdings merger.

material agreement

PEDEVCO and GOM Holdings pushed the deadline to close their merger from February 29 to April 15, 2016, giving GOM more time to satisfy closing conditions.

material agreement

PEDEVCO's senior lenders (led by RJ Credit and insurance-company noteholders, an arrangement dating to the 2014 note facility) extended by another month their deferral of interest and principal payments - in place since August 2015 - specifically to buy PEDEVCO time to close the GOM Holdings merger, targeted for February 29, 2016.

material agreement

The same day PEDEVCO and Dome Energy AB mutually terminated their planned merger over the oil-price downturn (no penalty owed, $250,000 escrow retained), PEDEVCO signed a much larger deal: an Agreement and Plan of Merger to acquire GOM Holdings, a private operator producing about 2,700 boe/day with roughly $500 million of PV-10 proved reserves across Texas, California and Louisiana, in exchange for stock plus assuming about $125 million of GOM's subordinated debt and a $30 million letter of credit - a transformational, heavily-leveraged bet targeted to close by February 2016.

business combination

Ahead of the planned Dome Energy merger, PEDEVCO agreed to assign its interests in eight newly drilled Wattenberg wells to Dome Energy, which will fully fund PEDEVCO's share of the associated costs.

material agreement

NYSE MKT confirmed PEDEVCO has regained compliance with continued listing standards, resolving the deficiency notice issued in January 2015.

business combination

Persuaded its senior lenders (including RJ Credit and a group of insurance-company noteholders) to defer principal and much of the interest due August 2015-January 2016 — at a higher 17% rate — specifically to buy the runway needed to close the pending Dome Energy AB merger.

capital raising announcement

Agreed to take over Dome Energy's US business -- about 1,250 barrels a day across Texas, Wyoming and five other states -- by issuing Dome's Swedish parent 152.6 million shares, 64% of the enlarged company. Management pitched it as the escape route from PEDEVCO's expensive senior debt into a 3.75% bank facility with $280 million of proved reserves behind it. The deal never closed.

director officer appointment

PEDEVCO confirmed it signed an Agreement and Plan of Reorganization to combine with Swedish-listed Dome Energy AB, a proposed business combination that would bring in a larger international partner.

business combination

PEDEVCO raised only about $2.35 million net in a new stock offering priced at just $0.50/share - roughly a quarter of its 2013-14 offering prices - reflecting the toll the oil-price collapse and its own financial strain had taken on the stock.

material agreement

Reacquired roughly 12,977 net DJ Basin acres and interests in 53 wells (~500 boe/d) from Golden Globe Energy, paying with 3.375 million common shares, 66,625 preferred shares, and assumption of $8.35 million of GGE's junior debt; also granted GGE a one-year option to buy PEDEVCO's entire Kazakhstan interest for just $100,000, and expanded the board from three to five seats with GGE board-appointment rights.

asset acquisition disposition

PEDEVCO bought back roughly 12,977 net acres and interests in 53 DJ Basin wells - assets it had conveyed away in its March 2014 Continental Resources financing - from Golden Globe Energy (US), paying with 3.4 million common shares, new preferred stock, and assuming about $8.35 million of Golden Globe's debt, while also granting Golden Globe a one-year option to buy PEDEVCO's entire Kazakhstan interest for just $100,000 - growing DJ Basin production but at the cost of putting its whole international bet up for a token price.

asset acquisition disposition

NYSE MKT notified PEDEVCO it is out of compliance with minimum stockholders' equity rules (under $6 million as of September 2014, after five straight years of net losses) and must submit a plan to regain compliance by July 2016.

listing compliance notice

Settled up with Continental Resources on the DJ Basin package bought in March 2014: a $482,677 refund on the price and another 863.61 net acres, almost all in the Wattenberg core, taking the position to about 14,132 net acres. Michael Peterson added the presidency to his chief financial officer role and Jamie Tseng stepped down as an executive officer.

director officer appointment

PEDEVCO restructured its pending Kazakhstan investment, assigning half its right to buy 51% of Asia Sixth Energy Resources (and half the $10 million deposit) to Golden Globe Energy Corp, an affiliate of its RJ Credit lender - disclosed alongside news that Aral's production had been voluntarily halted in Kazakhstan pending a gas-flaring permit and a gas sale agreement, and that Aral's other partner is TSX-listed Caspian Energy Inc.

material agreement

Reduced debt by about $1.87 million through Bridge Note conversions and settlement of legacy director fees, and announced plans to begin its first drilling operations — three horizontal DJ Basin wells — in mid-August 2014.

capital raising announcement

PEDEVCO closed the $30 million Continental Resources DJ Basin acquisition, funded by a new $34.5 million secured note facility with RJ Credit and affiliated investors (netting about $27.5 million after fees) that can grow to $50 million to fund drilling on the new Colorado acreage and its Kansas Mississippian Lime property.

asset acquisition disposition

PEDEVCO raised about $5.7 million net in a second stock offering (2.99 million shares at $2.15/share) with Roth Capital Partners as lead underwriter, adding to the capital being lined up to close the Continental Resources acquisition.

material agreement

PEDEVCO sold its remaining Eagle Ford shale stake - a small 3.97% non-operated interest in Texas - to Millennial PDP Fund IV for $2.8 million, completing its exit from the Eagle Ford play to focus capital on the DJ Basin and Kazakhstan.

asset acquisition disposition

PEDEVCO's new Red Hawk Petroleum subsidiary agreed to buy Continental Resources' DJ Basin Colorado assets - about 28,727 net acres and 40 wells including prime Wattenberg Area acreage, producing roughly 400 net boe/day - for $30 million cash, by far PEDEVCO's largest acquisition and a major expansion of its Niobrara footprint.

material agreement

MIE Jurassic Energy Corporation sold half its Eagle Ford shale stake (held through the 50/50 White Hawk Petroleum joint venture) to Millennial PDP Fund IV and withdrew from White Hawk entirely, leaving PEDEVCO as 100% owner of White Hawk - PEDEVCO's own economic interest in the Eagle Ford assets is unchanged, but MIE's role there ends even as the two remain partners elsewhere (Condor, Niobrara financing).

material agreement

PEDEVCO raised about $6.4 million in net proceeds through a registered underwritten offering of 3.25 million shares at $2.25/share with National Securities Corporation - fresh capital arriving right after the Kazakhstan and Kansas Mississippian Lime commitments.

material agreement

PEDEVCO agreed to buy 51% of Asia Sixth Energy Resources, a British Virgin Islands company that holds 60% of Aral Petroleum Capital in Kazakhstan - a producing oil & gas license covering roughly 380,000 acres in the Aktobe region, good through 2035 - paying an $8 million initial deposit with another $10 million due once a related $10 million note from Yao Hang Finance is collected. A major international expansion beyond PEDEVCO's US onshore assets.

debt financing

the New York Stock Exchange certified PEDEVCO CORP's securities for listing, clearing them to begin trading.

listing compliance notice

Raised $22 million in a private placement at $3.00/share — $20 million from Yao Hang Finance (Hong Kong) Limited and $2 million from another investor — earmarked for asset development, debt repayment, an NYSE MKT uplisting, and up to $20 million toward a prospective Asian (Kazakhstan) oil and gas acquisition.

capital raising announcement

PEDEVCO and MIE Jurassic Energy Corporation amended their $5 million credit line, pushing the maturity out from December 2013 to August 2014, dropping the requirement that a $10 million financing round trigger repayment, and raising the available credit to $6.5 million - more breathing room as the company funds its growing asset base.

debt financing

Restated Q3 2012 financials a second time: a related-party preferred stock subscription had been misclassified, understating loss on settlement by $139,874, and redeemable preferred stock had been wrongly booked as permanent equity — accounting-control weaknesses recurring within months of the PEDCO merger.

financial restatement

The renegotiated Berexco deal materialized: PEDEVCO's subsidiary agreed to buy about 6,763 net acres of Mississippian Lime interests in Kansas plus 3-D seismic data for $4.2 million, using the same $864,866 deposit from the terminated Condor transaction, with closing expected in March 2013 subject to financing.

material agreement

PEDEVCO's subsidiary PEDCO secured a $5 million line of credit from JV partner MIE Jurassic Energy Corporation, at 10% interest and due by the end of 2013, to fund its share of costs on the Colorado Niobrara asset.

debt financing

PEDEVCO's Condor Energy Technology joint venture (with MIE Jurassic Energy Corporation) mutually terminated its ~$8.65 million deal to buy Mississippian Lime interests and seismic data from Berexco, with the $864,866 deposit held in escrow while PEDEVCO itself - rather than Condor - negotiates a replacement deal directly with Berexco.

material agreement termination

Condor Energy Technology -- PEDEVCO's joint venture with MIE Holdings' Jurassic Energy arm -- agreed to buy about 13,806 net acres of Mississippian Lime in Kansas and Oklahoma with 19.5 square miles of 3-D seismic for $8.65 million, putting down an $865,000 deposit. Separately, officers and directors holding 58% of the common stock signed a written consent approving a further reverse split of between 1-for-2 and 1-for-5.

material agreement

Paid off the Guijarral Hills lender (Centurion Credit Funding) for $200,000 plus conversions, retiring that expensive debt; separately deferred a $1 million cash payment owed to its DJ Basin/Niobrara sellers (Esenjay Oil & Gas, Winn Exploration, Lacy Properties and Crain Energy) to February 2013 in exchange for $100,000 now plus preferred stock.

capital raising announcement

PEDEVCO signed a cooperation agreement with China's Guofa Zhonghai Energy Investment to jointly bid on shale gas exploration blocks in China's second national shale-gas tender, an international diversification bet alongside its US onshore E&P assets.

material agreement

PEDEVCO's 20%-owned Condor Energy Technology LLC closed its first real acreage acquisition, buying oil & gas leases covering about 3,582 net acres in Colorado's DJ Basin (Morgan and Weld Counties, targeting the Niobrara and other formations) from Esenjay Oil & Gas for $1.1 million cash plus preferred stock.

asset acquisition disposition

The PEDCO reverse merger and rename from Blast Energy Services to PEDEVCO Corp formally closed July 27, 2012, and the stock's ticker changed from BESV to PEDO - completing the company's transformation into an oil & gas exploration company.

business combination

The completed reverse merger into Pacific Energy Development, re-reported with the target's audited accounts: PEDCO's holders received 17.9 million common and 19.7 million Series A preferred shares plus warrants and options, the old preferred converted to common, the stock was consolidated 1-for-112, and Blast Energy Services became PEDEVCO Corp. A services company that had gone bankrupt on drilling rigs was now an oil and gas producer.

business combination

Completed its reverse merger with privately-held Pacific Energy Development Corp (PEDCO): renamed itself PEDEVCO Corp., executed a 1-for-112 reverse stock split, and converted all outstanding preferred stock to common — the transformation from failed drilling-tech company Blast Energy into a US onshore E&P company.

business combination

As a condition tied to the PEDCO merger, Blast extinguished $1.64 million owed to insiders Berg McAfee Companies and Clyde Berg by converting it into 81.8 million shares of common stock at $0.02/share - about 49% of the company's fully-diluted share count - clearing its largest legacy debt just before the merger closed.

business combination

Blast filed a preliminary proxy asking shareholders to approve the January 2012 reverse merger with Pacific Energy Development Corp (PEDCO), which continues the deal announced on 2012-01-20. Under the terms, Blast would reverse-split its common stock 1-for-110, rename itself PEDEVCO CORP, and issue 17,857,261 common shares and 11,489,537 new Series A preferred shares to PEDCO holders, who would own about 95% of the common stock after the merger, so existing Blast shareholders would be heavily diluted. Eric McAfee, Clyde Berg and Centurion Credit Funding (62.9% of common and all the preferred) have agreed to vote in favour, and the board unanimously recommends approval. This is a preliminary copy with the meeting date and other details left blank.

business combination

Blast agreed to a reverse-merger reorganization with privately-held Pacific Energy Development Corp (PEDCO): PEDCO becomes a wholly-owned subsidiary, Blast converts its preferred stock and reverse-splits its common stock, and renames itself PEDEVCO Corp - the transaction that turns the failed drilling-services company into an oil & gas E&P.

business combination

Blast could not fund its share of Guijarral Hills drilling costs, so it gave Solimar Energy half of its working interest in the GH 76-33 well (cutting its stake from 50% to 25%) in exchange for forgiving $311,872 it owed - with an option to buy back to 35% by March 2012 - and separately extended the Centurion lender waiver fee.

asset acquisition disposition

Entered a farmout with Solimar Energy and Neon Energy to drill a test well in the Guijarral Hills field (San Joaquin Basin, California), earning a 50% working interest if successful, financed by up to $2.52 million in expensive secured notes (10% interest, original issue discount, royalty and penalty warrants if the well underperforms) from an outside lender — costly financing typical of the company's weak bargaining position at the time.

capital raising announcement

Acquired its first real producing oil and gas interest — a 66% working interest in three producing wells (~43 gross bopd) in the Sugar Valley Field, Matagorda County, Texas — from Sun Resources Texas for $600,000 cash, a $300,000 note and $300,000 of stock, funded by Quicksilver settlement proceeds.

asset acquisition disposition

Blast signed a letter of intent with ASX-listed Solimar Energy to participate in a field-extension drilling project on undeveloped acreage in California's Guijarral Hills Field, contingent on raising the funding for its share of drilling costs.

material agreement

Blast closed the Sugar Valley Field purchase from Sun Resources, taking a 66% working interest in three producing wells plus related equipment - its first completed oil & gas property acquisition.

asset acquisition disposition

Blast agreed to buy a majority working interest in three producing wells (plus a larger stake in undeveloped reserves) in the Sugar Valley Field, Texas from Sun Resources for $1.2 million cash and stock - its first move into direct oil & gas ownership, partly funded by the $2 million Quicksilver settlement payment due that September.

material agreement

Blast finalized a settlement with Hallwood Energy/Hallwood Petroleum worth about $6.4 million to Eagle Domestic Drilling: $2.0 million cash and $1.65 million of forgiven obligations already received, plus a 7% Class C partnership stake in Hallwood Energy valued near $2.75 million, closing out another bankruptcy-era dispute.

material agreement

Blast signed a service contract with Resource Energy Technologies to test its AFJ jetting technology on up to 100 wells in Kentucky - the first real deployment opportunity for the technology it acquired in 2005-06, with Blast earning a 40% share of any resulting production revenue if the operator exercises the option after a paid test phase.

material agreement

Using proceeds from a favorable litigation settlement with Quicksilver Resources, paid off its $2.1 million Laurus senior lien and a $125,000 McClain County, Oklahoma note, redeemed $1 million of preferred stock held by insiders Clyde Berg and McAfee Capital, and converted $191,000 of deferred board compensation into stock — a real turning point emerging from the post-bankruptcy debt overhang.

capital raising announcement

Blast settled litigation with Quicksilver Resources: Quicksilver will pay Eagle Domestic Drilling $10 million over three years ($5 million upfront, already received), a meaningful cash lifeline while the company works through Chapter 11.

material agreement

Blast emerged from Chapter 11 with its shareholders intact -- the unusual outcome. A new convertible preferred issue paid every unsecured, administrative and priority claim in full, about $2.4 million, leaving $1.6 million of working capital; the company redomiciled to Texas and came out carrying only three secured obligations, the largest a $2.1 million interest-free Laurus claim repayable solely from litigation proceeds. It kept suing Quicksilver and Hallwood for a claimed $15-45 million.

director officer appointment

Creditors and shareholders overwhelmingly approved Blast's Chapter 11 reorganization plan in bankruptcy court, though the company still needed to raise $3 million to actually exit bankruptcy.

material agreement

Blast (which filed Chapter 11 in January 2007 after the Laurus default) reached a bankruptcy settlement: Eagle's five land rigs and spare parts go to Laurus to satisfy the $40.6 million note, Blast repurchases 900,000 of its own shares from Second Bridge for $900, and Thornton Entities drop their lawsuits - effectively surrendering the drilling-rig business it bought a year earlier.

material agreement

Blast Energy Services and its Eagle Domestic Drilling subsidiary filed for Chapter 11 in Houston. The August 2006 land-rig acquisition had been underwritten on five two-year drilling contracts; Hallwood and Quicksilver cancelled them within months, the senior lender declared default, and the company filed by agreement with that lender while suing both customers for breach.

bankruptcy or receivership

Laurus Master Fund formally notified Blast of the loan default three days after the missed payment and said it intends to charge default penalties on top of the $40.6 million owed.

debt default or forbearance

Just months after the Eagle acquisition, two major customers cancelled their drilling contracts, cutting revenue so sharply that Blast suspended interest payments on the $40.6 million Laurus loan secured by Eagle's rigs, triggering a default.

debt financing

Blast completed a $50 million cash-and-stock purchase of Eagle Domestic Drilling Operations, a Texas land-rig contractor with three producing rigs and three more under construction on Barnett/Fayetteville Shale contracts, funded mainly by a $40.6 million loan from Laurus Master Fund - a major pivot from jetting technology into contract land drilling.

asset acquisition disposition

After SEC comment, restated 2004 and 2005 financial statements to reflect a $3.2 million non-cash impairment of the carrying value of the Landers' License.

financial restatement

Alberta Energy accelerated the AFJ technology deal, assigning Blast full 50% ownership of the jetting technology immediately instead of the gradual step-up from 20% agreed in 2005.

material agreement

Blast restated its FY2004 annual report and all three 2005 quarterly reports to record a $3.2 million non-cash write-down of its "Landers' License" intangible asset.

financial restatement

Blast Energy Services (PEDEVCO's predecessor) bought a 20% stake in Alberta Energy's abrasive fluid jetting (AFJ) drilling technology, with rights to grow to 50%, and agreed to license it worldwide as the base of a new energy-services line.

material agreement

As Blast Energy Services (PEDEVCO's predecessor), financed its first abrasive-jetting rig with $1 million in loans from major shareholder Berg McAfee Companies, while a separate licensing counterparty, Maxim TEP, repeatedly defaulted and re-negotiated a required payment under escalating late fees — early signs of the financial fragility that led to Blast's 2007 Chapter 11 filing.

material agreement