PEDEVCO Reports Year-End 2025 Proved Reserves

Total Proved Reserves of 32.1 MMBoe with PV-10 of $357.7 Million at SEC Pricing as of Year-End 2025

Year-End 2025 Reserves Reflect Full Post-Combination Asset Base

HOUSTON, Feb. 25, 2026 (GLOBE NEWSWIRE) -- PEDEVCO Corp. (NYSE American: PED) (“PEDEVCO” or the “Company”) today reported the results of its independent year-end 2025 proved reserves evaluation for all of the Company’s oil and gas properties in Wyoming, Colorado and New Mexico. These include properties from its recently completed transformative merger with certain portfolio companies controlled by Juniper Capital Advisors, L.P.

“This independent reserve evaluation underscores the scale and multi-year runway of our newly fortified asset base,” said President & CEO J. Douglas Schick. “With over $357 million in PV-10 value, a substantial proved developed foundation, and clearly defined future drilling inventory that has been bolstered by our recent merger, we believe PEDEVCO is well positioned to generate consistent cash flow and long-term value for our shareholders.”

The Company’s proved reserves were evaluated by Cawley, Gillespie & Associates, Inc. (“CG&A”), an independent petroleum engineering firm, in a report completed January 22, 2026, with an effective date of December 31, 2025. The evaluation was prepared using constant prices and costs and conforms to Item 1202(a)(8) of Regulation S-K and other rules of the SEC. The evaluation covers 100% of the Company’s interests in properties located in Wyoming, Colorado and New Mexico. The estimates are for proved reserves only and do not include any probable or possible reserves.

At year-end 2025, PEDEVCO’s total proved reserves were 22.99 million barrels (“MMBbl”) of oil, 28.78 billion cubic feet (“Bcf”) of natural gas, and 4.34 MMBbl of natural gas liquids (“NGLs”), for a combined total of approximately 32.12 million barrels of oil equivalent (“MMBoe”). Of the total proved reserves, approximately 16.38 MMBoe were classified as proved developed and 15.74 MMBoe were classified as proved undeveloped.

SEC pricing as of December 31, 2025, was $65.34 per barrel of oil and $3.387 per MMBtu of natural gas, calculated in accordance with SEC guidelines. These prices were adjusted for applicable differentials, including transportation, local basis differentials, crude quality and gravity corrections, gas shrinkage, and gas heating value, resulting in net realized prices of $62.92 per barrel of oil, $3.04 per Mcf of natural gas and $25.77 per barrel of NGLs over the life of the proved properties.

Estimated future net cash flows before federal income taxes attributable to total proved reserves were approximately $674.8 million. The present value of these future net cash flows discounted at an annual rate of 10% (“PV-10”) was approximately $357.7 million, of which approximately $257.4 million, or 72%, is attributable to proved developed reserves.

Proved undeveloped reserves reflect the Company’s multi-year development plan, including 71 horizontal drilling locations: 49 in Colorado targeting the Niobrara formation, 17 in Wyoming targeting the Codell formation and five in New Mexico targeting the San Andres formation. Additionally, there are11 proved developed non-producing locations (10 in Colorado targeting the Niobrara and one in Wyoming targeting the Codell) representing completed wells with capital costs fully paid.

PV-10 Value
PV-10 may be considered a non-GAAP financial measure as defined by the SEC. The most directly comparable GAAP measure is the standardized measure of discounted future net cash flows (“Standardized Measure”). PV-10 is computed on a pre-tax basis and is equal to the Standardized Measure before deducting future income taxes, discounted at 10%. The Company believes PV-10 is useful to investors because it presents discounted future net cash flows prior to future corporate income taxes, enabling comparison across companies regardless of tax position. PV-10 is not a substitute for the Standardized Measure. Neither PV-10 nor the Standardized Measure purport to represent the fair market value of the Company’s oil and natural gas reserves. A reconciliation of PV-10 to the Standardized Measure will be included in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

These year-end 2025 proved reserves represent the full scope of the Company’s current asset base following its business combination and supersede any previously referenced reserve estimates, including pre-combination year-end 2024 figures. Investors and analysts should use these year-end 2025 reserves as the current authoritative baseline for the Company.

About PEDEVCO Corp.
PEDEVCO Corp (NYSE American: PED) is a publicly traded energy company engaged in the acquisition and development of strategic, high growth energy projects in the United States. The Company’s principal assets are its Rockies Assets located in the D-J Basin of Wyoming and Northern Colorado and the Powder River Basin in Wyoming. The Company also holds assets in the Permian Basin located in eastern New Mexico. PEDEVCO is headquartered in Houston, Texas. More information about PEDEVCO can be found at www.pedevco.com.