Filing Details

The principal business address of each of SGK Trust and Kukes is 575 N. Dairy Ashford, Energy Center II, Suite 210, Houston, Texas 77079.

The principal occupation of SGK Trust is a family trust formed to hold among other things, shares of the Issuer. The principal occupation of Kukes is the Trustee of the SGK Trust and the Executive Chairman of the Company.

No Reporting Person has, during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).

No Reporting Person has, during the last five years, been party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.

SGK Trust is a Texas trust. Kukes is a citizen of the United States.

Item 3 is hereby amended and modified to include the following (which shall be in addition to the information previously included in the Schedule 13D): On January 23, 2025, the Company issued, after recommendation by the Compensation Committee of the Company's Board of Directors and approval by the Board of Directors, and in connection with the Company's 2024 year annual compensation review, 350,000 shares of restricted common stock to Dr. Simon G. Kukes, the Executive Chairman of the Company, which shares vest at the rate of (i) 1/3 of such shares on the ten (10) month anniversary of the January 23, 2025 grant date (the "Grant Date"); (ii) 1/3 on the twenty-second (22nd) month anniversary of the Grant Date; and (iii) 1/3 on the thirty-fourth (34th) month anniversary of the Grant Date (collectively, the "Vesting Terms"), subject to Dr. Kukes' continued service to the Company on such vesting dates, and subject to the terms and conditions of a Restricted Shares Grant Agreement entered into between the Company and Dr. Kukes. The restricted stock shares were issued under the Company's 2021 Equity Incentive Plan, as amended to date (the "Plan"), in consideration for services rendered, and to be rendered by Dr. Kukes.

The Reporting Persons acquired the securities for investment purposes. In the future, depending on general market and economic conditions affecting the Company and other relevant factors, the Reporting Persons may purchase additional securities of the Company or dispose of some or all of the securities they currently own from time to time in open market transactions, private transactions or otherwise. Additionally, Dr. Kukes currently plans to purchase additional shares of common stock of the Company in open market transactions, from time to time, during open trading windows, when he believes the acquisitions represent attractive investment opportunities at then prices. Dr. Kukes and/or his wife may also acquire additional shares of common stock under various employee benefit and compensation arrangements with the Company in the future. Other than as discussed above, and except as may occur in the ordinary course of business of the Company, the Reporting Persons do not currently have any plans or proposals which relate to or would result in the following described: (a) The acquisition by any person of additional securities of the Issuer, or the disposition of securities of the Issuer, except as discussed above and except that the Reporting Persons currently contemplate acquiring additional securities of the Issuer from time to time in open market or private purchases subject to market conditions and other factors; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Issuer or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Issuer or any of its subsidiaries; (d) Any change in the present board of directors or management of the Issuer, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the Issuer; (f) Any other material change in the Issuer's business or corporate structure, including but not limited to, if the Issuer is a registered closed-end investment company, any plans or proposals to make any changes in its investment policy for which a vote is required by section 13 of the Investment Company Act of 1940; (g) Changes in the Issuer's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Issuer by any person; (h) Causing a class of securities of the Issuer to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Issuer becoming eligible for termination of registration pursuant to section 12(g)(4) of the Act; or (j) Any action similar to any of those enumerated above, except as discussed above. However, Dr. Kukes, in his capacity as a member of the Board and Chief Executive Officer may, from time to time, become aware of, initiate, and/or be involved in discussions that relate to the transactions described in this Item 4 and thus retains his right to modify his plans with respect to the transactions described in this Item 4 to acquire or dispose of securities of the Company and to formulate plans and proposals that could result in the occurrence of any such events, subject to applicable laws and regulations.

The aggregate number of shares of Common Stock beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the voting thereof, shared power to vote or to direct the voting thereof, sole power to dispose or to direct the disposition thereof, or shared power to dispose or to direct the disposition thereof, are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by this reference thereto.

The aggregate number of shares of Common Stock beneficially owned by each Reporting Person and, for each Reporting Person, the number of shares as to which there is sole power to vote or to direct the voting thereof, shared power to vote or to direct the voting thereof, sole power to dispose or to direct the disposition thereof, or shared power to dispose or to direct the disposition thereof, are set forth on rows 7 through 11 and row 13 of the cover pages of this Schedule 13D and are incorporated herein by this reference thereto. Kukes may be deemed to have shared power with SGK Trust, to vote and dispose of the securities reported in this Schedule 13D beneficially owned by SGK Trust. Kukes may also be deemed to have shared power with his spouse, to vote and dispose of the securities reported in this Schedule 13D beneficially owned by his spouse.

See Item 3, above.

No other person has the right to receive or the power to direct the receipt of dividends from or the proceeds from the sale of the securities beneficially owned by the Reporting Persons, except in connection with the 3,000 shares of common stock owned by Dr. Kukes' spouse (and options held by such spouse).

N/A

A copy of the form of Restricted Shares Grant Agreement and form of Stock Option Agreements for the awards described in Item 3 above are incorporated by reference herein.

Exhibit No. / Description 99.1 Power of Attorney dated April 17, 2019 - Dr. Simon G. Kukes and Clark R. Moore (1) https://www.sec.gov/Archives/edgar/data/1141197/000165495419007477/ped_ex241.htm 99.2 Power of Attorney dated October 5, 2022 - The SGK 2018 Revocable Trust and Clark R. Moore (2) https://www.sec.gov/Archives/edgar/data/1141197/000165495422013368/form4poaexhibit.htm 99.3 PEDEVCO Corp. 2012 Equity Incentive Plan Form of Restricted Shares Grant Agreement (3) https://www.sec.gov/Archives/edgar/data/1141197/000158069513000086/ex4-2.htm 99.4 PEDEVCO Corp. 2012 Equity Incentive Plan Form of Stock Option Grant Agreement (3) https://www.sec.gov/Archives/edgar/data/1141197/000158069513000086/ex4-3.htm 99.5 PEDEVCO Corp. 2021 Equity Incentive Plan Form of Restricted Shares Grant Agreement (4) https://www.sec.gov/Archives/edgar/data/1141197/000165495421009660/ped_ex993.htm 99.6 PEDEVCO Corp. 2021 Equity Incentive Plan Form of Stock Option Grant Agreement (4) https://www.sec.gov/Archives/edgar/data/1141197/000165495421009660/ped_ex992.htm 99.7 Joint Filing Agreement by and among SK Energy LLC, The SGK 2018 Revocable Trust and Dr. Simon G. Kukes, dated October 4, 2022 (5) https://www.sec.gov/Archives/edgar/data/1141197/000165495422013369/ped_ex998.htm (1) Filed as Exhibit 24.1 to the Form 4 filed by the Reporting Persons on June 19, 2019 and incorporated by reference herein. (2) Filed as Exhibit 24.3 to the Form 4 filed by the Reporting Persons on October 5, 2022. (3) Filed on October 31, 2013, as an exhibit to the Company's Registration on Form S-8 and incorporated herein by reference (File No. 333-192002). (4) Filed on September 1, 2021, as an exhibit to the Company's Registration on Form S-8 and incorporated herein by reference (File No. 333-259248). (5) Filed as Exhibit 99.8 to Amendment No. 10 and incorporated herein by reference.