Jericho Oil Completes Acquisition of Working Interest in Producing Central Oklahoma Assets
October 05 2017 - 8:00AM
Further to its news release dated Aug. 2, 2017, Jericho Oil
Corporation (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) announces
that it has completed the acquisition of an additional 25%
working interest (“WI”) in a producing oil and gas asset package in
Central Oklahoma from its Private Family Partner (“PFP”) for US$3.5
million.
Jericho purchased an initial 25% WI in the asset package at
year-end 2015, with its PFP acquiring 75% WI. Jericho now holds 50%
ownership across all assets (excluding its recent STACK
acquisition) acquired in 2015 and 2016.
Jericho has also granted 100,000 incentive stock options to a
director of the Company. The options are exercisable at a price of
C$0.75 per share for a period of 5 years.
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 Relations918.986.7616
or
Adam Rabiner, Director, Corporate
Communications1.800.750.3520investorrelations@jerichooil.com
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