Tag: Oklahoma

Jericho Oil starts STACK’ing – a major step forward

Jericho Oil starts STACK’ing – a major step forward

Jericho Oil (JCO.V) has announced an agreement which allows it to acquire ‘just under’ a 1/3rd of a 9,400 acre land package in the Anadarko Basin STACK zone in Oklahoma. Jericho can acquire the third by investing up to US$9M in the acquisition and development expenses associated with the property. […]

Jericho Oil raises C$5.7M from cornerstone investors

Jericho Oil raises C$5.7M from cornerstone investors

Jericho Oil (JCO.V) has finally decided to bite the bullet and will complete a 12.6M unit placement at C$0.45 to raise C$5.66M (before expenses). Each unit will consist of one common share of Jericho Oil and half a warrant which will allow every warrant holder to acquire an additional share […]

Jericho Oil is trading 29% below its PV10 NAV

Jericho Oil is trading 29% below its PV10 NAV

It took the company a bit longer than we expected, but Jericho Oil (JCO.V) has now finally released an updated reserve report on its American activities. To make our life easier, Jericho has reported all results based on its effective interest in the properties, which provides us with a very […]

Jericho will boost the oil production at its own assets

Jericho will boost the oil production at its own assets

Jericho Oil (JCO.V) has presented its organic growth plan to the market, which will aim to maximize the production rate and cash flows from the 75,000 acres in Oklahoma it jointly owns with a private family office. A first step will be to reduce the decline rates of the existing […]

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 […]