JERICHO ENERGY VENTURS - JROOF STOCK NEWS

Jericho Energy Ventures receives new patent for zero-emission hydrogen-fueled steam boiler

Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) announces collaboration with a global alcoholic beverage company to conduct a decarbonization study on the implementation of its DCC™ boilers across the beverage company's production facilities in four different countries. The initiative aligns with the beverage company's commitment to decarbonization and sustainable production practices. HT's DCC™ hydrogen-fueled boilers offer a highly efficient and sustainable alternative to traditional fossil fuel-based boilers, eliminating greenhouse gas emissions and boasting an independently verified GHG-free fuel efficiency of over 97%. The DCC™ was awarded the Solar Impulse Foundation's prestigious 'Solar Impulse Efficient Solution' label recognizing profitable solutions to protect the environment.

Jericho Energy Ventures, Exogen Hydrogen Solutions, and Sofinter Group have formed a strategic industrial partnership to manufacture and implement the HSP3000, a hydrogen steam plant. The plant features patented DCC™ boiler technology developed by Jericho's subsidiary, Hydrogen Technologies. The HSP3000 is a scalable, turnkey solution for industrial steam and thermal applications, offering zero-emissions and hydrogen-powered capabilities. Each installation is expected to permanently eliminate CO2 emissions equivalent to -.

Jericho Energy Ventures (OTC:JROOF) reported significant increases in its oil and gas reserves as of December 31, 2022. Proved developed reserves rose by 32% to $27 million, while total proved reserves increased by 26% to $43.7 million. The company's proved plus probable reserves reached $48.3 million, marking a 37% increase. The performance of the Lazarus #1 vertical well exceeded expectations, averaging over 68 barrels of oil per day since December 2022. Jericho aims to enhance cash flow through its 2023 drilling program, slated to begin in late Q2. The detailed reserve information will be filed on SEDAR by April 30, 2023.