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8. EQUITY METHOD INVESTMENTS (Tables) | 9 Months Ended
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Sep. 30, 2015
Equity Method Investments Tables |
Condors financial information | The following table reflects the activity related to the Company’s settlement with MIEJ (in thousands):
|  | Items Received by PEDEVCO |
Extinguishment of accrued liabilities |  |  | 3,280 |
Extinguishment of original debt with MIE net of cash payments of $100,000 |  |  | 6,070 |
Proceeds from cash payments made by MIE to RJ Credit and BAM |  |  | 500 |
Total |  |  | 9,850 |
|  | Items Received by MIEJ |
Issuance of new MIEJ note |  | $ | 4,925 |
Extinguishment of note receivable with Condor |  |  | 1,272 |
Historical cost of oil and gas property sold to Condor |  |  | 620 |
Total |  |  | 6,817 |
Net gain on settlement |  | $ | 3,033 |
Shedule of allocation of gain on settlement | The following table presents the allocation of the gain on settlement with MIEJ described above (in thousands):
|  | Allocated Value |  |  | Historical Cost |  |  | Gain on Settlement |
Oil and gas properties |  | $ | 895 |  |  | $ | 620 |  |  | $ | 275 |
Investment in Condor |  |  | 1,838 |  |  |  | 1,272 |  |  |  | 566 |
Note Payable - MIEJ |  |  | 7,117 |  |  |  | 4,925 |  |  |  | 2,192 |
Total |  | $ | 9,850 |  |  | $ | 6,817 |  |  | $ | 3,033 |
Condor Energy Technology, LLC | The following is a summarized statement of operations for Condor for the period from January 1, 2015 through February 23, 2015 (in thousands):
Revenue |  | $ | 108 |
Operating expenses |  |  | (368 | )
Operating loss |  |  | (260 | )
Interest expense |  |  | (195 | )
Net loss |  | $ | (455 | )

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6382943&loc=d3e33918-111571 + Details
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