PEDEVCO Corp (PED) Stock Price Prediction

PEDEVCO Corp. is an exploration and production company, which engages in the acquisition and development of oil and natural gas assets. The company is headquartered in Houston, Texas and currently employs 14 full-time employees. The company went IPO on 2003-05-02. Its properties are located in the San Andres formation of the Permian Basin, situated in West Texas and eastern New Mexico (the Permian Basin) and in the Denver-Julesberg Basin (D-J Basin) in Colorado and Wyoming. The firm holds approximately 14,105 net Permian Basin acres located in Chaves and Roosevelt Counties, New Mexico, through its wholly owned subsidiary, Pacific Energy Development Corp. (PEDCO), which is referred to as Permian Basin Asset and approximately 18,669 net D-J Basin acres located in Weld and Morgan Counties, Colorado, and Laramie County, Wyoming, through its wholly owned operating subsidiary, Red Hawk Petroleum, LLC (Red Hawk), which is referred to as D-J Basin Asset. Permian Basin Asset contains up to 100 potential net 1.0-mile laterals wells on a 160-acre spacing. D-J Basin Asset contains up to 353 potential gross wells with 164 potential net wells.