 Over 18.5 Million Cash on Balance Sheet and Zero Debt HOUSTON, TX ACCESSWIRE March 23, 2021 PEDEVCO Corp. NYSE American:PED the Company today announced the results of two horizontal San Andres wells drilled and completed in its Phase II development program, as well as the sale of certain non-core assets in the D-J Basin which added approximately 1.9 million in cash to the Companys balance sheet. Highlights : Initiated production on the Haley Chaveroo SA Unit 301H Haley 301 and the Haley Chaveroo SA Unit 303H Haley 303, each with an approximately 4,800-foot horizontal section in the San Andres formation Brought Haley 301 onto production with an average thirty-day peak initial production rate IP30 of 428.6 gross barrels of oil equivalent per day BOEPD 85 oil Brought Haley 303 onto production with an average thirty-day peak initial production rate IP30 of 178.4 gross barrels of oil equivalent per day BOEPD 84 oil Sold approximately 230 net leasehold acres in the D-J Basin for 6,000 per net acre, adding approximately 1.38 million in cash proceeds Sold non-operated working interest in one well located on the divested acreage position for 500,000, for a total of approximately 1.9 million cash added to the balance sheet J. 