Tag: Oil

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 […]

Weekend Read: Caesars Report in The Gold Report

Weekend Read: Caesars Report in The Gold Report

Thibaut Lepouttre, editor of Caesars Report, knows ’tis the season for generosity, so when we asked him for his top three picks among junior mining equities, he gave us five—four gold plays and a phosphate name. Belgium-based Lepouttre also discusses different “black swan” events and their potential impact on the […]

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 […]

Columbus Copper will be acquired by Energulf Resources

Columbus Copper will be acquired by Energulf Resources

Columbus Copper (CCU.V) has announced it has signed an agreement whereby it will acquire the rights to the pending hydrocarbon block 8 in Albania. Columbus will do so through acquiring a BVI-incorporated company and its Albanian subsidiary by paying $90,000 and issuing 9.3 million new shares but only if the […]