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Oil & Gas Firm Delineates STACK Acreage with Strong Well Results
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Source:

The energy company provided an operational update on its Oklahoma projects.

Jericho Oil Corp. (JCO:TSX.V; JROOF:OTC), a 26.5% owner in the Oklahoma STACK joint venture (JV), continues delineating and derisking its acreage in the Meramec and Osage Formations. "Each well drilled has the potential to generate significant returns for our company, and with over 150 gross un-risked drillable locations, there is significant net asset value within our STACK position," CEO Brian Williamson stated in a news release. Today, the JV holds interests in four Osage and two Meramec wells.

As far as the producing operations, they are the Wardroom 13-19N-13W #1H well, which is putting out 220 gross barrels of oil equivalent per day (220 gross boe/d) in the Meramec, and the Swordspear 15-23N-10W #1H well, which is producing 351 gross boe/d.

Drilling is underway at the Valkyrie 6-19N-12W #1H well in the Meramec and the Trebuchet 21-23N-10W #1H well in the Osage.

Additionally, Jericho Oil is participating in two more Osage foundational wells, at which drilling is planned. They are the Ula 1-31H 6X7, operated by ExxonMobil's subsidiary XTO Energy, and the Hilltop 2009 1-19MH, operated by Alta Mesa Resources.

Williamson added, "We are excited to further develop our assets and hope our shareholders will realize the tremendous value inherent throughout the development process."

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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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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 one week after the publication of the interview or article. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Jericho Oil, a company mentioned in this article.




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