MERGER ACQUISITION (Tables)

6 Months Ended

Jun. 30, 2026

MERGER ACQUISITION

Schedule of Fair Value of Acquired Assets and Assumed Liabilities

Consideration:
Series A Convertible Preferred Stock			10,650
Fair Value Per Share of Preferred Stock		$	6,030
Common stock consideration, net of estimated liabilities assumed by PEDEVCO		$	64,220

Cash paid to settle North Peak Debt			115,646

Total consideration		$	179,866

Fair value of assets acquired:
Cash and restricted cash		$	24
Accounts receivable			12,806
Commodity derivative, asset - current			5,264
Prepaid expenses and other current assets			591
Evaluated oil and gas properties			191,700
Unevaluated oil and gas properties			11,266
Asset retirement costs			1,584
Other long-term assets			2,177
Total assets acquired		$	225,412

Fair value of liabilities assumed:
Accounts payable and accrued liabilities		$	41,719
Asset retirement obligations - current			488
Asset retirement obligations - long-term			1,096
Other long-term liabilities			2,243
Total liabilities assumed		$	45,546

Total identifiable net assets acquired		$	179,866

Schedule of Unaudited pro forma financial information

		Three months ended June 30, 2025				Six Months Ended June 30, 2025
(in thousands)
Pro forma revenues		$	32,123			$	72,151
Pro forma net income (loss)		$	(4,498	)		$	(6,689	)