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TICKERS: JCO; JROOF

Oil & Gas Company's Osage, Meramec Formation Wells Advance
News Update

Source:

This small-cap firm continues to delineate and derisk its Oklahoma STACK acreage.

Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) provided an update in a news release on the progress of two Oklahoma STACK Joint Venture wells.

As for the Trebuchet 21-23N-10W #1H well, in which Jericho has a 40% working interest, drilling is underway in the lateral section, and about 90% of the planned total measured depth has been achieved.

The rate of penetration there is about 1.6 to 1.8 times that of Swordspear 15-23N-10W #1H, Jericho's initial Osage Formation well, at the same measured depth, thus decreasing the total rig days needed for Trebuchet. The increased rate of penetration is mostly due to a better "drilling-bit set-up and specific lateral geosteering," the release explained.

Next, the well will be fracture stimulated, starting in late November/early December.

The Valkyrie 6-19N-12W #1H well, in which Jericho has a 23.5% working interest, is in flowback following 35 successful fracture stimulation stages. "After only a few days on flowback, we are extremely pleased with the resulting downhole pressures and total fluid flowback," the release noted.

The company stated that it will provide further updates this year on the production of its wells.

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Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Jericho Oil. Please click here for more information.
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