PEDEVCO Corp. (AMEX:PED) ("PEDEVCO" or the "Company") delivered an open letter to The Bank of New York Mellon Trust Company, N.A., as trustee of the SandRidge Permian Trust (NYSE:PER) (the "Trustee" and the "Trust"), the common unit holders of the Trust, and Avalon Energy, LLC as a holder of Trust common units and the operator of the assets underlying the Trust, regarding PEDEVCO's previously delivered letter indicating its interest regarding a potential acquisition of all the common units of the Trust (the "Trust Units"), its underlying assets, and operatorship thereof. J. Douglas Schick, President of PEDEVCO, commented: "In June 2018, SK Energy, owned and controlled by our largest shareholder, Dr. Simon Kukes, similarly saved PEDEVCO from near-certain delisting from the NYSE and being taken over by its creditors, completely turning PEDEVCO around to emerge as the strong and stable company PEDEVCO is today.

We are now hopeful that the Trustee and common unit holders of the SandRidge Permian Trust, and Avalon as the operator of the underlying assets, will see the wisdom and opportunity of the transaction proposed by PEDEVCO, which we believe will likewise result in a success story for their equity holders with significant upside potential through ownership in a stronger combined entity".