Jericho Oil Corp (OTC: JROOF) (TSX-V: JCO) Breaking News - January 16, 2018

Jericho Oil Announces Acreage Swap and Operational Update Participation in first horizontal STACK Well

TULSA, OK, and VANCOUVER, BC, Jan. 16, 2018 - Jericho Oil Corporation (TSX-V: JCO) (OTC: JROOF) announces that it has entered into an agreement, through its Oklahoma STACK Joint Venture (“STACK JV”), to swap a portion of its undeveloped acreage in Blaine and Major County with Staghorn STACK, LLC (“Staghorn”).

The acreage swap will allow the Company to (i) strategically grow its acreage position in areas in or proximate to current horizontal well development; (ii)participate in the drilling of multiple strategic horizontal wells targeting the Meramec and Osage formations within the Company’s acreage footprint; (iii) continue to aggregate critical drilling, completion and lateral placement data from a proven, best-inclass STACK operator; (iv) secure tag-along rights for a portion of its Blaine County STACK JV acreage; and (v) cost effectively grow production and potentially reserves.

Accordingly, Jericho has elected to participate in the drilling of the Wardroom well (Section 12-19N13W; 46.87% WI / 37.5% NRI to STACK JV) with Staghorn as the Operator and pay its proportionate working interest share of costs related to drilling and completion. The Wardroom well has been spud and is currently being drilled. It is approximately a 4,500-foot lateral targeting the Meramec formation in the normally-pressured oil window.

Brian Williamson, CEO of Jericho Oil, stated, “With a New Year and oil prices at our back, we are excited about our growing STACK position and to be participating in our first horizontal STACK well targeting the prolific Meramec formation. Our acreage swap agreement ensures Jericho receives critical data for future operated drilling activities, and participation in the drilling of proximate horizontal wells to our footprint, with a proven best-in-class STACK operator. We look forward to updating our shareholders on future growth opportunities as 2018 unfolds.”

The acreage swap is subject to customary due diligence and is expected to close by the end of January.

About Jericho Oil Corporation

Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forwardlooking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such
statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:
Tony Blancato, Director, Investor Relations 918.986.7616
or
Adam Rabiner, Director, Corporate Communications 1.800.750.3520 investorrelations@jerichooil.com

SOURCE LiCo Energy Metals Inc.

Jericho Oil Exercises Option to Increase STACK Joint Venture Ownership

TULSA, OK, and VANCOUVER, BC, Jan. 03, 2018 - Jericho Oil Corporation (TSX-V: JCO) (OTC: JROOF) announces that it has fully exercised its option to increase its ownership in its Oklahoma STACK Joint Venture (“STACK JV”) to 31% for US$6 million.

In September 2017, Jericho and its private Joint Venture Partner (“JVP”) closed the acquisition of approximately 9,400 net surface acres in the oil window of the Anadarko Basin STACK play in Oklahoma. At that time, Jericho exercised $3 million of its option for an initial 11% ownership, with its JVP owning the remainder. For additional details about Jericho’s STACK acquisition, please see the Company’s STACK Presentation.

The Oklahoma STACK Play has become one of the top oil and gas plays in North America. Prominent operators in the STACK include Devon, Newfield, Marathon, Continental and Alta Mesa, with Jericho among the only publicly-traded Junior E&P companies to establish a meaningful presence in the play.

Additionally, the Company announces that it has sold a non-core asset in Osage County, Oklahoma and applied the proceeds to pay down $800,000 of its bank line under its joint Senior Secured Revolving Credit Facility. The Company’s borrowing base remains unchanged at $10 million.

About Jericho Oil Corporation

Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:
Tony Blancato,
Director, Investor Relations
918.986.7616
or
Adam Rabiner,
Director, Corporate Communications
1.800.750.3520
investorrelations@jerichooil.com

Source: Jericho Oil Corporation

Jericho Oil Closes C$2.27 Million Private Placement

TULSA, OK, and VANCOUVER, BC, Jan. 02, 2018 - Jericho Oil Corporation (TSX-V: JCO) (OTC: JROOF) has closed a non-brokered private placement (the “Offering”) of 3,784,946 units (“Units”) at $0.60 per unit for proceeds of $2,270,968. Each Unit is comprised of one common share (a “Share”) and one-half warrant (a “Warrant”) with each full Warrant being exercisable into one additional Share at a price of $0.90 per Share for a period of 24 months from closing.

No finders’ fees or commissions were paid in connection with the Offering. Final TSX Venture Exchange approval has been received for the Offering. All securities issued pursuant to the Offering are subject to a four month and one day hold period from the date of issuance.

About Jericho Oil Corporation

Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:
Tony Blancato,
Director, Investor Relations
918.986.7616
or
Adam Rabiner,
Director, Corporate Communications
1.800.750.3520
investorrelations@jerichooil.com

Source: Jericho Oil Corporation

Jericho Oil Receives C$4.74 Million From Warrant Exercise

TULSA, OK, and VANCOUVER, BC, Dec. 28, 2018 - Jericho Oil Corporation (TSX-V: JCO) (OTC: JROOF) is pleased to announce that a total of 7,904,861 common share purchase warrants (the "Warrants") have been exercised at $0.60 per common share for total proceeds to the Company of $4,742,917. Insiders of Jericho Oil exercised 4,229,861 warrants.

Additionally, Jericho Oil has arranged an equity financing with three subscribers for proceeds of $2,270,968 through a non-brokered private placement (the “Offering”) of 3,784,946 units (“Units”) at a price of $0.60 per Unit. Each Unit is comprised of one common share (a “Share”) and one-half warrant (a “Warrant”) with each full Warrant being exercisable into one additional Share at a price of $0.90 per Share for a period of 24 months from closing.

No finders’ fees or commissions are being paid in connection with the Offering. Closing of the Offering is subject to final TSX Venture Exchange approval. All securities issued pursuant to the Offering are subject to a four month and one day hold period from the date of issuance.

About Jericho Oil Corporation

Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:
Tony Blancato,
Director, Investor Relations
918.986.7616
or
Adam Rabiner,
Director, Corporate Communications
1.800.750.3520
investorrelations@jerichooil.com

Source: Jericho Oil Corporation

Jericho Oil STACK JV Acquires Additional Acreage

TULSA, OK, and VANCOUVER, BC, Nov. 02, 2018 - Jericho Oil Corporation (TSX-V: JCO) (OTC: JROOF) has closed the acquisition of an additional 76 acres (100% held-by-production) in the oil window of the Anadarko Basin STACK play in Oklahoma contiguous to its current position.

Jericho owns approximately 11% interest in the STACK JV, with its Joint Venture Partner (“JVP”) owning the remainder. Jericho has the option to acquire up to 31% interest in the STACK JV upon fully exercising its option for US$6 Million.

Jericho continues to diligence additional opportunistic STACK acquisitions and is finalizing its 2018 drilling plans for both its STACK JV and its South-Central Oklahoma assets.

Jericho also announces that it has voluntarily elected to decrease the borrowing base under its joint Senior Secured Revolving Credit Facility (the "Facility") from US$12 million to $10 million to reduce unnecessary fees associated with unused borrowing commitments. The borrowing based was reaffirmed at $12 million following the Company’s regularly scheduled semi-annual redetermination process by its lender.

About Jericho Oil Corporation

Jericho is a growth-oriented oil and gas company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the Mid-Continent. For more information, please visit www.jerichooil.com.

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:
Tony Blancato,
Director, Investor Relations
P: 918.986.7616
or
Adam Rabiner,
Director, Corporate Communications
P: 1.800.750.3520
investorrelations@jerichooil.com

Source: Jericho Oil Corporation

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About Jericho Oil Corp:

Jericho Oil Corporation’s primary business objective is to drive long-term shareholder value through the growth of oil and gas production, cash flow and reserves.

Jericho’s growth strategy is achieved through the acquisition and development of overlooked and undervalued assets across the Mid-Continent region, primarily in Central Oklahoma. The Company brings a systematic, consistent asset development plan to revitalize, exploit and expand known-producing oil-focused fields and basins that have been underserved from both a capital and modern technological perspective focused on the Hunton, Mississippi Lime and Woodford Shale formations.

In order to achieve Jericho’s primary business objective of driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves, the Company has identified basins located within the Mid-Continent which have experienced the most severe capital flight amid the precipitous drop in the price of oil. Pervasive capital accessibility has the ability to veil the true economic and repeatable viability of drilling oil and gas reserves. However, since the drop in the price of oil, credit and equity has become scarce amongst what once were considered the ‘next’ horizontally-drilled shale plays. Accordingly, capital flight from the Mid-Continent region specifically, has produced illiquidity and, more importantly, market dislocations in regards to the long-term intrinsic value for both cash flow positive and highly-distressed assets alike.

Many of the Mid-Continent basins may yet prove to be viable long-term manufactures of oil and gas reserves. However, lower prices have left the region capital starved and / or distressed. This dislocation presents Jericho with the opportunity to acquire undervalued and underappreciated assets at appreciable discounts to the true underlying value while creating a margin of safety. Most importantly, the Company seeks to employ discipline, patience and strong judgement in evaluating oil and gas assets.

Based in Vancouver, British Columbia, with a regional office in Tulsa, Oklahoma, Jericho commenced operations in March, 2014 on the TSX-Venture and has since grown through eight transactions with gross production totaling over 800 BOEPD (65% Oil). Jericho holds a weighted average of approximately 50% Working Interest across its asset base with a private family partner owning the remaining Working Interest.

Strategy
Jericho Oil Corporation’s primary business objective is to drive long-term shareholder value through the growth of production, cash flow and reserves. The Company’s strategy is implemented through the following key elements.
Growth through the acquisitions of overlooked and undervalued assets across the Mid-Continent region.
Jericho Oil’s acquisition strategy focuses on Mid-Continent oil and natural gas basins that provide significant opportunities for the development of multi-stacked reservoirs, regional consolidation and future production and reserves growth. Our target assets have existing developed production with stacked pay resource upside.

Most recently, due to the precipitous drop in the price of oil, Jericho has been afforded the opportunity to acquire production, reserves and cash flow, at appreciable discounts to the long-term intrinsic value of oil and gas assets. While many companies “manage” through the historical oil price downturn, Jericho has shifted its focus from drilling and development to creating shareholder value through acquisitions.

In an environment where prices are generally falling, fear of loss causes investors to focus solely on the possibility of continued price declines to the exclusion of investment fundamentals. Accordingly, acquisition pricing for production and reserves have fallen considerably along with the price of oil. As such, Jericho is actively looking, but remains patiently aggressive, on the acquisition front.

Organically Grow Production, Reserves and Cash Flow.
Jericho Oil maintains a sizable inventory of drilling and optimization projects to achieve organic growth through its capital program. We focus on exploiting low-risk, productive assets through the implementation of primary and secondary oil recovery techniques. Drilling opportunities are based on low-risk, repeatable stacked-pay locations in order to maintain and increase cash flow.

Horizontal wells are drilled on a strong technical and economic premise. As long-term oil prices stabilize, Jericho will look to further unlock its resource potential through rig additions.

Reduce Costs Through Operational Efficiencies.
Jericho Oil focuses on driving operational efficiencies across its entire asset base resulting in high netbacks and strong per barrel performance. We work diligently to maintain a tight operating radius and to lease and purchase only contiguous and proximate acreage and production. This allows Jericho to capitalize on economies of scale, making it easier for less human capital and resources to operate a growing production and acreage base.

Previous operators left much to be desired. Jericho’s strong capital position and its focus on new and cutting edge technologies will drive efficient per well production improvements.

History
Jericho Oil’s Roots
Based in Vancouver, British Columbia, Jericho Oil commenced operations in March, 2014 on the TSX-Venture. Since then, the Company has raised over $20 million of common equity shares, completed right transactions, and drilled over 150 vertical wells in two core areas of operation totaling approximately 75,000 acres and 800 gross BOEPD (65% oil). Jericho holds a weighted average of 35% Working Interest across its asset base.

Vital to Jericho’s success is an anti-herd mentality. The last decade has brought the advent of new and exciting technology aimed at unlocking, once impossible to reach, reservoirs. Accordingly, billions of dollars flowed into light-tight oil shale plays like the Bakken, Permian and Eagle Ford. As capital flowed freely to these basins, Jericho took the contrarian, top-down approach in identifying basins which were then being capital starved but still produced strong risk-adjusted returns. The founders of the Company established that there were many legacy producing basins within the Mid-Continent region which were markedly underserved from a capital and institutional knowledge perspective that were ripe with opportunity – and as such, Jericho began its foray into the Central Oklahoma. Jericho believes the opportunity has only grown greater with the drop in the price of oil. Productive reservoirs, once thought to be very profitable to larger players, have been relatively abandoned by producers and capital providers alike. Jericho thrives in these situations and looks to take advantage of a historical drop in the value of oil and gas assets across the Mid-Continent region.

Jericho Oil trades on the Toronto Venture Stock Exchange under the ticker “JCO” and on the US OTC under the ticker “JROOF.”

Operations
Jericho Oil has a high-quality Mid-Continent portfolio of oil-focused, stacked-pay assets located in central Oklahoma. Jericho continually strives to maximize cash flow from production properties for reinvestment in drill-bit driven growth opportunities. Jericho holds a weighted average of 38% Working Interest across its asset base.

Oklahoma
Jericho’s Oklahoma operation, is a natural extension of the Company’s strategy to acquire long-life producing assets within known mid-continent legacy basins. In Oklahoma, Jericho’s primary focus is on stacked-pays. The region includes productive Pennsylvania Sands, Mississippian Lime, Devonian Woodford Shale and Silurian Hunton opportunities. Jericho’s current assets are located in Pottawatomie, Seminole, Creek, Payne, Lincoln and Osage County, OK. The Oklahoma operating team brings over 100 years of collective regional knowledge and operating experience having developed and operated all the targeted formations in the region.

Jericho’s current production is from a mix of horizontal and vertical wells. The Company sees this broader region, stretching down into Central Oklahoma and staying east of the Ridge, as a significant growth opportunity targeting horizontal production with future vertical development opportunities.

SOURCE: http://jerichooil.com/

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