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8. EQUITY METHOD INVESTMENTS (Tables)
 9 Months Ended
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 )