Tag: Jericho

Jericho Oil puts its new line of credit to good use

Jericho Oil puts its new line of credit to good use

Jericho Oil (JCO.V) has acquired Oklahoma-based assets from Enervest in what seems to be a relatively cheap acquisition. Jericho’s 50% owned subsidiary, Eagle Road Oil, has purchased a 91% average working interest of 62 wellbores and 31,200 acres of land from Enervest. As the average production rate in the first […]

Jericho Oil gets a major thumbs up from East West Bancorp

Jericho Oil gets a major thumbs up from East West Bancorp

Jericho Oil (JCO.V) has surprised the markets this week, as right when most oil and gas companies see their banks cutting their credit lines, Jericho was able to announce its partnership has opened an US$30M senior secured revolving credit facility with East West Bancorp (EWBC), a Tier-1 bank. The initial […]

Jericho sees its PV10 value fourfold, despite the lower oil price

Jericho sees its PV10 value fourfold, despite the lower oil price

Jericho Oil (JCO.V) has now released the updated reserve report for its properties in Kansas and Oklahoma. We were really looking forward to this update as this was the real ‘test’ to find out how accretive the most recent acquisitions were. And we weren’t disappointed, as Jericho’s total amount of […]

Jericho Oil raises C$6.9M to fund its new acquisitions

Jericho Oil raises C$6.9M to fund its new acquisitions

Jericho Oil (JCO.V) has raised C$6.93M in a private placement priced at C$0.40 per unit. Each unit consists of one common share of Jericho as well as ½ of a warrant with each warrant having a strike price of C$0.60, valid for two years. It’s very encouraging to see Jericho […]

Jericho Oil is positioning itself for the next bull run in oil

Jericho Oil is positioning itself for the next bull run in oil

Jericho Oil (JCO.V) has announced what could best be described as a game-changing event as the company has signed a definitive agreement to acquire a 50% working interest (WI) in a producing oil asset in Oklahoma. The oilfield has 50 existing wells and consists of 30,000 net acres with a […]

Jericho Oil – Reviving old oil fields

Jericho Oil – Reviving old oil fields

We met with the management team of Jericho Oil (JCO.V) to get a better understanding of the company’s business model and plans for the future. Jericho’s plan consists of acquiring past-producing oil fields which have been ignored since the initial production was shut down or reduced to just a few […]