Jericho Energy Ventures Inc Stock Price, News & Analysis

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.

Jericho Energy Ventures Inc. (OTC: JROOF) will participate in the Sequire Investor Summit from April 24-26, 2023, at La Concha Resort in San Juan, Puerto Rico. This event will focus on the advantageous tax laws in Puerto Rico, offering insights for funds and investors to optimize their business strategies.

Attendees can look forward to impactful training sessions and keynote panels led by industry experts, covering the latest trends and strategies in finance and investment. CEO Brian Williamson will present on April 25 at 2 PM ET, sharing insights from Jericho Energy Ventures' experiences and expertise.

The summit aims to foster networking opportunities and equip participants with knowledge that drives business success in the evolving financial landscape. For registration and more information, visit the official event website.

Jericho Energy Ventures (OTC:JROOF) announced that its subsidiary, Hydrogen Technologies, is eligible for up to 80% grant funding from the U.S. Department of Energy (DOE) for businesses deploying its DCC™ hydrogen-fueled boiler. This initiative aims to decarbonize industrial operations by transitioning from traditional fossil fuel-based systems to a zero-emission alternative. The DOE's funding supports several projects with sizes ranging from $750K to $10M, with a total of $156 million allocated to various projects. The DCC™ boiler is recognized for its 97% fuel efficiency and emission-free operation, fostering a cleaner industrial environment.

Jericho Energy Ventures (OTC: JROOF) has successfully closed a non-brokered private placement of 8,662,745 units at CAD$0.26 per unit, generating gross proceeds of $2,252,313.70. Each unit includes one common share and one warrant, allowing purchase of a share at $0.50 for two years. The financing, led by insiders, has conditional approval from the TSX Venture Exchange. Proceeds will support general working capital and advance its subsidiary, Hydrogen Technologies. Insider participants purchased 2,064,769 units. The financing's securities are subject to a four-month hold period.

Jericho Energy Ventures (OTC PINK:JROOF) announced a multi-year Joint Development Agreement (JDA) between its portfolio company, H2U Technologies, and Tokyo Gas Co., Ltd. The collaboration aims to discover novel catalysts using H2U's proprietary Catalyst Discovery Engine™ to reduce costs of Proton Exchange Membrane (PEM) electrolyzers for producing green hydrogen. This partnership addresses supply chain challenges associated with using costly platinum group metals like iridium. Tokyo Gas plans to utilize hydrogen produced from electrolysis for direct applications and to manufacture e-methane.

Jericho Energy Ventures (TSXV:JEV)(OTC PINK:JROOF) has announced a non-brokered private placement aiming to raise approximately CAD$2 million at CAD$0.26 per unit. Each unit comprises one share and a warrant, allowing the purchase of a share at CAD$0.50 for two years. Proceeds will support general working capital and advance its subsidiary, Hydrogen Technologies, amid rising commodity prices. The financing is subject to TSX Venture Exchange approval and may involve insider participation, considered a related party transaction under MI 61-101. The securities will not be registered under U.S. securities law.