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Stock Market & Financial Investment News

News Breaks
August 5, 2014
09:25 EDTPEDPacific Energy Development announces restructuring of Kazakhstan acquisition
PEDEVCO Corp. d/b/a Pacific Energy Development announced that it has entered into a series of agreements pursuant to which the company has restructured its planned acquisition of indirect interests in production and exploration licenses covering a contract area in the Republic of Kazakhstan covering 380,000 acres within the North Block of the Pre-Caspian Basin. As a result of the restructuring, the company will acquire 5% of the capital stock of Caspian Energy Inc., which will, as a result of this transaction own 100% of Aral Petroleum Capital Limited which currently holds a 100% operated working interest in the asset. As part of the transaction, certain other parties will provide an additional $21.5M to Aral to fund its operations and development efforts going forward. Notably, the company will hold publicly-traded Caspian Energy stock on an unrestricted basis, and as a minority shareholder in Caspian Energy and the company will not be subject to future capital calls or funding obligations, or any other obligations or requirements, that the company might otherwise have been subject to as a major shareholder of Asia Sixth Energy Resources Limited as previously contemplated under the original acquisition transaction. The closing of the restructured transaction is subject to the satisfaction of certain customary closing conditions, including the approval of the Agency of the Republic of Kazakhstan for the Protection of Competition and the Ministry of Oil and Gas of the Republic of Kazakhstan and other regulatory and shareholder approvals.
News For PED From The Last 14 Days
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January 15, 2015
08:38 EDTPEDPEDEVCO Corp. announces third Loomis well production 540 bopd
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January 14, 2015
17:19 EDTPEDPEDEVCO Corp. announces production rate from Loomis 2-1H well
PEDEVCO Corp., d/b/a Pacific Energy Development, announced that its Loomis 2-1H horizontal well recently completed in Weld County, Colorado has tested at an initial production rate of 576 barrels of oil per day and 630 thousand cubic feet of gas, from the Niobrara "B" Bench target zone. The Loomis 2-1H well is the second of three new horizontal wells recently completed by the company from a single pad. The company has an approximately 49.7% net working interest in this well, which came in under budget, reaching a total measured depth of 11,365 feet, with a 6,334 foot total vertical depth and 4,851 foot lateral length, and with 18 frac stages through the Niobrara "B" Bench target zone. On January 13th the company announced that its first reported well had an initial production rate of 590 boepd.
January 13, 2015
16:49 EDTPEDPEDEVCO Corp. reduces production rate from first of three Loomis wells
PEDEVCO Corp. d/b/a Pacific Energy Development announced that its Loomis 2-6H horizontal well recently completed in Weld County, Colorado has tested at an initial production rate of 540 barrels of oil per day and 300 thousand cubic feet of, from the Niobrara "B" Bench target zone. The Loomis 2-6H well is the first of three new horizontal wells recently completed by the company from a single pad. The company has an approximately 49.7% net working interest in this well, which came in under budget, reaching a total measured depth of 11,335 feet, with a 6,298 foot total vertical depth and 4,694 foot lateral length, and with 25 frac stages through the Niobrara "B" Bench target zone. The company expects to release initial production rates for the second and third Loomis wells over the next several days.

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