JERICHO ENERGY VENTURS - JROOF STOCK NEWS

Jericho Energy Ventures has announced a significant enhancement to its financial capacity by refinancing its Senior Secured Revolving Credit Facility. The new credit facility, provided by a new bank lender, increases the borrowing base by 23% to USD $7.0 million. This facility replaces the previous COVID-related Main Street Lending Program facility and bears interest at a rate tied to Chase Prime. CFO Ben Holman highlighted that this expansion reflects the value of their oil and gas joint venture assets, aimed at boosting production amidst high commodity prices.

Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF) announces its involvement in the Pacific Northwest Hydrogen Association, which has received encouragement from the U.S. Department of Energy (DOE) to apply for funding. The project aims to establish a clean hydrogen hub in the Pacific Northwest. Out of 79 proposals, PNWH2's concept paper is among 33 selected to move forward. The DOE plans to provide up to $1 billion for successful applications, targeting six to ten hubs. Jericho's Dynamic Combustion Chamber technology will be utilized in this initiative.

Jericho Energy Ventures Inc. (TSXV: JEV)(OTC: JROOF) has received encouragement from the U.S. Department of Energy (DOE) to submit a full application for the Regional Clean Hydrogen Hubs Program as part of the HALO Hydrogen Hub initiative. This three-state partnership aims to secure up to US$1.25 billion in DOE funding for hydrogen development. Jericho's innovative DCC™ hydrogen boiler is pivotal in decarbonizing the commercial heat market. Additionally, 325,000 employee stock options have been granted at a price of CAD$0.35 for three years.

Jericho Energy Ventures (OTC:JROOF) announced participation in the HALO Hydrogen Hub, a public-private partnership aimed at developing a clean hydrogen hub across Louisiana, Oklahoma, and Arkansas. This initiative, supported by the U.S. Department of Energy, is part of a larger $8 billion hydrogen hub program. Jericho's zero-emission Dynamic Combustion Chamber (DCC) technology is expected to play a crucial role in reducing emissions. The company also engaged GRA Enterprises for investor relations services, agreeing to a $100,000 fee for a twelve-month contract.

Jericho Energy Ventures (TSXV:JEV)(OTC:JROOF) proudly announces that its Dynamic Combustion Chamber™ (DCC™) hydrogen-fueled boiler has received the Solar Impulse Efficient Solution Label. This prestigious recognition highlights solutions that are both profitable and sustainable. The DCC™ achieves nearly 100% GHG-free fuel combustion efficiency, aimed at replacing traditional fossil-fuel boilers that contribute significantly to global emissions. The company envisions the DCC™ playing a pivotal role in reducing greenhouse gas emissions in the commercial and industrial heat markets.

Jericho Energy Ventures (OTC PINK:JROOF) reported a strong third quarter in 2022, showcasing a 51% year-over-year revenue growth in oil and gas joint ventures, attributing this success to elevated crude oil and natural gas prices. Key highlights included:

• $8.86 million in product revenues for Q3-22, compared to $5.88 million in Q3-21
• Average realized oil price rose 56%, and natural gas price increased 70%
• 95% YoY increase in adjusted joint venture income to $3.16 million

Jericho Energy Ventures (OTC PINK:JROOF) announced the granting of 300,000 incentive stock options to a director at an exercise price of CAD$0.35, valid for five years. This move aligns with the company's strategy to support its leadership and incentivize performance. Jericho is actively involved in both traditional hydrocarbon and low-carbon energy projects, including investments in hydrogen technology aimed at assisting the energy transition. Despite positive strides, the company faces various risks including regulatory challenges and fluctuating commodity prices.

Jericho Energy Ventures (OTC:JROOF) has announced a successful divestiture of undeveloped acreage in the STACK oil region, yielding USD$1.37 million. With a 26.5% interest in the STACK JV, this sale boosts investor confidence in future drilling activities. Despite prior low oil prices, the current elevated pricing environment is believed to have revived interest in the STACK area, enhancing the company's remaining acreage value. JEV emphasizes a balanced approach by investing in both traditional hydrocarbons and the transition to low-carbon energy technologies.

Jericho Energy Ventures (OTC PINK:JROOF) announces a significant increase in demand for its DCC™ hydrogen fueled boiler, designed for zero-emission operations. As of 2022, feasibility studies are taking place at 34 sites across 7 industries, including Food & Beverage (11 studies), Auto, and Pharma (7 each). CEO Brian Williamson emphasizes cost-effective solutions for reducing emissions, particularly post-Inflation Reduction Act, potentially enhancing the sales pipeline. The DCC™ has demonstrated nearly 100% GHG-free fuel combustion efficiency, presenting a revolutionary alternative to traditional fossil fuel boilers.