22 May 2015business combination▲ GoodMajor
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.
Announcements, explained
Each one in plain English, with the numbers worked through for a shareholder.
14 May 2015quarterly activities report▼ Bad
PEDEVCO CORP reported a quarterly net loss of $4.2 million for the period ended 2015-03-31.
13 May 2015securities registration● Neutral
PEDEVCO CORP filed a prospectus supplement for an offering off its existing shelf.
13 May 2015material agreement▼ BadMajor
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.
13 May 2015securities registration● Neutral
PEDEVCO CORP filed a prospectus supplement for an offering off its existing shelf.
6 May 2015asset acquisition disposition▲ GoodMajor
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.
6 Mar 2015substantial holder notice● Neutral
Platinum Partners Value Arbitrage Fund L.P, Platinum Partners Credit Opportunities Fund LLC, Platinum Credit Holdings LLC, Mark Nordlicht disclosed a new substantial PEDEVCO CORP shareholding (9.10% of votes).
24 Feb 2015asset acquisition disposition▼ BadMajor
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.
14 Jan 2015listing compliance notice▼ BadMajor
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.
5 Jan 2015securities registration● Neutral
PEDEVCO CORP filed the final prospectus for a registered offering.
19 Dec 2014securities registration● Neutral
PEDEVCO CORP registered a securities offering with the SEC using its shelf eligibility.
19 Dec 2014listing compliance notice▼ Bad
PEDEVCO CORP withdrew a registration statement, abandoning the offering it covered.
12 Dec 2014securities registration● Neutral
PEDEVCO CORP filed notice of an exempt private placement.
3 Dec 2014capital raising announcement▼ Bad
Raised $1.86 million net from 74 investors at $0.65/unit — a steep drop from the $3.00/share paid by institutional investors the year before.
14 Nov 2014quarterly activities report▼ Bad
PEDEVCO CORP reported a quarterly net loss of $5.0 million for the period ended 2014-09-30.
14 Oct 2014director officer appointment▲ GoodMajor
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.
14 Aug 2014quarterly activities report▼ Bad
PEDEVCO CORP reported a quarterly net loss of $4.2 million for the period ended 2014-06-30.
13 Aug 2014quarterly activities report▼ Bad
PEDEVCO CORP reported a quarterly net loss of $4.2 million for the period ended 2014-06-30.
5 Aug 2014material agreement▼ BadMajor
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.
21 July 2014capital raising announcement▲ GoodMajor
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.
3 July 2014director officer appointment● Neutral
Shareholders approved adding 5,000,000 shares to the 2012 equity incentive plan, and restricted stock was issued under the 2013 compensation review -- a large top-up relative to a share count still in the low tens of millions.
15 May 2014quarterly activities report▼ Bad
PEDEVCO CORP reported a quarterly net loss of $13.2 million for the period ended 2014-03-31.
10 Mar 2014asset acquisition disposition▲ GoodMajor
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.
6 Mar 2014material agreement▲ GoodMajor
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.
4 Mar 2014securities registration● Neutral
PEDEVCO CORP filed a prospectus supplement for an offering off its existing shelf.
28 Feb 2014securities registration● Neutral
PEDEVCO CORP filed a prospectus supplement for an offering off its existing shelf.
28 Feb 2014material agreement● Neutral
PEDEVCO and Continental Resources pushed the DJ Basin deal's closing deadline back to March 7, 2014 while PEDEVCO finalized the debt financing needed to fund the $30 million purchase price.
20 Feb 2014asset acquisition disposition▲ GoodMajor
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.
13 Feb 2014material agreement● Neutral
PEDEVCO set a February 28, 2014 closing date for the $30 million Continental Resources DJ Basin purchase, having already paid a $1.5 million deposit.
22 Jan 2014material agreement▲ GoodMajor
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.