Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: JCO; JROOF

Study Results Bode Well for Oil & Gas Producer's STACK Acreage
News Update

Source:

The company will use the new data when choosing its next drilling location there.

Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC) announced in a news release the results of its two latest studies.

The first was an evaluation of production levels by offset operators drilling around Jericho's position in Oklahoma's STACK play.

The results showed "vast potential" for high-return wells on Jericho's acreage in the Osage Formation, according to the release. This was determined from Gastar, Fairway and Alta Mesa's surrounding wells having produced a combined average of 63,000 barrels of oil over six months.

The results also showed that the techniques associated with these productive wells are targeted lateral landing and enhanced stimulation design.

"We are very pleased with the validation of our resource and acreage value on the backs of strong well results and offset operator capital," the release noted. "Allowing surrounding operators to spend their capital while converging upon our position will yield the strongest return on investment for Jericho as we minimize our capital outlay."

The second study was a look at the geochemical makeup of various formations around Jericho's Northern STACK acres.

The most recent well analyzed demonstrated "outstanding oil storage capacity, high permeability and outstanding rock mechanics" throughout the Mississippian (Meramec and Osage), Shane Maton, Jericho's lead geologist, described in the release.

The company continues to amass these data on an ongoing basis, which in the short term, will inform Jericho's selection of a location for a potential drilling program in the second half of 2019.

[NLINSERT]

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: Jericho Oil. 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.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Jericho Oil, a company mentioned in this article.




Want to read more about Oil & Gas - Exploration & Production investment ideas?
Get Our Streetwise Reports Resources Report Newsletter Free and be the first to know!

A valid email address is required to subscribe