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Stock Market & Financial Investment News

News Breaks
May 2, 2014
08:44 EDTPEDPacific Energy announces production rates for first three Wattenberg wells
PEDEVCO Corp. d/b/a Pacific Energy Development, announced the estimated initial production rates of the first three wells in which the company has a 12.5% interest that were drilled and completed by a third party operator on acreage recently acquired by the company in the Wattenberg Area of Weld County, Colorado. The 24-hour peak rates for these three wells, as estimated by the Company based on information received from the operator, are as follows: 529.2 BOE/D; 556.2 BOE/D; 542.6 BOE/D. The company acquired its Wattenberg Asset in March, expanding its position in the Denver-Julesberg Basin from an original 2,384 net acres to a total of 16,400 net acres in Weld and Morgan Counties, Colorado. Spudded in January and completed in April, these three wells are among the first four wells in the drilling program that the company announced earlier this month. The first well was drilled and completed in 2011 and has already returned its drilling and completion costs.
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November 19, 2014
08:46 EDTPEDPacific Energy Development price target lowered to $1.20 from $2.75 at Roth Capital
Roth Capital cut its price target on Pacific Energy Development, citing the company 's weaker than expected Q3 results and lower oil prices. However, the firm thinks the stock is significantly undervalued at current levels and reiterates a Buy rating on the shares.

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