<SEC-DOCUMENT>0001214782-14-000006.txt : 20140213
<SEC-HEADER>0001214782-14-000006.hdr.sgml : 20140213
<ACCEPTANCE-DATETIME>20140213080515
ACCESSION NUMBER:		0001214782-14-000006
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20140212
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20140213
DATE AS OF CHANGE:		20140213

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PEDEVCO CORP
		CENTRAL INDEX KEY:			0001141197
		STANDARD INDUSTRIAL CLASSIFICATION:	OIL AND GAS FIELD EXPLORATION SERVICES [1382]
		IRS NUMBER:				223755993
		STATE OF INCORPORATION:			TX
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-35922
		FILM NUMBER:		14603038

	BUSINESS ADDRESS:	
		STREET 1:		4125 BLACKHAWK PLAZA CIRCLE
		STREET 2:		SUITE 201
		CITY:			DANVILLE
		STATE:			CA
		ZIP:			94506
		BUSINESS PHONE:		855-733-2685

	MAIL ADDRESS:	
		STREET 1:		4125 BLACKHAWK PLAZA CIRCLE
		STREET 2:		SUITE 201
		CITY:			DANVILLE
		STATE:			CA
		ZIP:			94506

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	BLAST ENERGY SERVICES, INC.
		DATE OF NAME CHANGE:	20050610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	VERDISYS INC
		DATE OF NAME CHANGE:	20010523
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>pedevco8k021214.htm
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">WASHINGTON, D.C. 20549</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">THE SECURITIES EXCHANGE ACT OF 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">DATE OF REPORT: February 13, 2014</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">DATE OF EARLIEST EVENT REPORTED: February 12, 2014</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold"><font style="DISPLAY: inline; TEXT-DECORATION: underline">PEDEVCO CORP.</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">On February 12, 2014, Red Hawk Petroleum, LLC, a Nevada limited liability company and newly formed wholly-owned subsidiary of PEDEVCO Corp. (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Company</font>&#8221;), notified the Seller that the closing of the transaction contemplated by that certain Purchase and Sale Agreement (&#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Purchase Agreement</font>&#8221;), dated January 21, 2014, entered into by and between the Company and Seller, will occur on February 28, 2014, as permitted under the Purchase Agreement, entry into of which was previously disclosed by the Company in a Current Report on Form 8-K filed with the Commission on January 22, 2014.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The closing of the transaction contemplated by the Purchase Agreement is subject to the satisfaction of certain customary closing conditions and due diligence by the Company as described therein. The effective date of the transaction is December 1, 2013 (the &#8220;<font style="DISPLAY: inline; TEXT-DECORATION: underline">Effective Date</font>&#8221;), and the total purchase price is $30 million in cash (subject to adjustment as provided in the Purchase Agreement), of which the Company has paid a $1.5 million deposit.&#160;&#160;The transaction is expected to close on February 28, 2014, upon the satisfaction or waiver of the conditions set forth in the Purchase Agreement, unless the Seller and the Company mutually agree in writing to extend the closing date.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The remaining amount of the Purchase Price is expected to be funded from cash on hand and the issuance of long-term debt securities, for which the Company has received three bona fide non-binding term sheets and is proceeding with negotiating and preparing definitive documentation,<font style="DISPLAY: inline; FONT-SIZE: 10pt">&#160;</font>provided that no assurance can be provided that the transactions contemplated by the term sheets will be finalized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">ITEM 8.01 OTHER EVENTS.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt">
<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font style="BACKGROUND-COLOR: #ffffff; DISPLAY: inline">On February 13, 2014, the Company issued a press release disclosing the scheduled closing date of February 28, 2014 for the transactions contemplated under the Purchase Agreement (defined and disclosed in Item 1.01, above).&#160;&#160;A copy of the press release is furnished as Exhibit 99.1 hereto.</font></font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">99.1*</font></div>
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt">Press Release dated February 13, 2014</font></div>
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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="left"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="TEXT-ALIGN: left; TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">EXHIBIT 99.1</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 12pt; FONT-WEIGHT: bold">Pacific Energy Development Announces Planned February 28, 2014 Closing Date of Acquisition to Acquire 28,727 Net Acres in the Niobrara Shale Formation</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">DANVILLE, CA--(Marketwired &#8211; February 13, 2014) &#8211;&#160;PEDEVCO Corp. d/b/a <font style="DISPLAY: inline; TEXT-DECORATION: underline">Pacific Energy Development</font> (NYSE MKT:&#160;PED) (the &#8220;Company&#8221;), an energy company engaged in the acquisition and development of strategic high-value energy projects in the U.S. and Asia, today announced that the closing of the transaction to acquire an interest in 41 wells and approximately 28,727 net acres in the DJ Basin, Colorado, from an independent U.S. oil and gas company, as previously announced by the Company on January 22, 2014, is currently scheduled to close on February 28, 2014.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">The Company has already paid an initial deposit of $1.5 million toward the total purchase price of $30 million (subject to customary adjustments), with the remaining amount of the purchase price expected to be funded from cash on hand and the issuance of long-term debt securities, for which the Company has received three bona fide non-binding term sheets and is proceeding with negotiating and preparing definitive documentation, provided that no assurance can be provided that the transactions contemplated by the term sheets will be finalized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Frank C. Ingriselli, President and CEO of the Company, stated, &#8220;We have been very impressed with the responsiveness and professionalism of the seller&#8217;s transition team, as well as the high-caliber of lenders this transaction has attracted, and we are very much looking forward to completing all conditions to closing and acquiring this transformative asset as soon as possible.&#8221;</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">About Pacific Energy Development (PEDEVCO Corp.)</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify">&#160;</div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">PEDEVCO Corp, d/b/a Pacific Energy Development (NYSE MKT:&#160;&#160;PED), is a publicly-traded energy company engaged in the acquisition and development of strategic, high growth energy projects, including shale oil and gas assets, in the United States and Asia. The Company&#8217;s principal assets include its Niobrara asset located in the DJ Basin in Colorado, its Mississippian asset located in Comanche, Harper, Barber and Kiowa Counties, Kansas, its Eagle Ford asset in McMullen County, Texas, and its North Sugar Valley asset located in Matagorda County, Texas. The Company has also previously announced its entry into an agreement to acquire a controlling interest in a 380,000 acre producing asset located in the Pre-Caspian Basin, one of the largest producing basins in Kazakhstan.&#160; Pacific Energy Development is headquartered in Danville, California, with offices in Houston, Texas and Beijing, China.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">All statements in this press release that are not based on historical fact are &#8220;forward-looking statements&#8221; within the meaning of the Private Securities Litigation Reform Act of 1995 and the provisions of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. While management has based any forward-looking statements contained herein on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties, and other factors, many of which are outside of the Company&#8217;s control, that could cause actual results to materially differ from such statements. Such risks, uncertainties, and other factors include, but are not necessarily limited to, those set forth under Item 1A &#8220;Risk Factors&#8221; in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2012. The Company operates in a highly competitive and rapidly changing environment, thus new or unforeseen risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. The Company disclaims any intention to, and undertakes no obligation to, update or revise any forward-looking statements. Readers are also urged to carefully review and consider the other various disclosures in the Company&#8217;s public filings with the SEC.</font></div>

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