April 23, 2018 - 12:30 PM EDT
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Jericho Oil Retains Market Maker, Appoints Benjamin Holman as Interim CFO

TULSA, Okla. and VANCOUVER, British Columbia, April 23, 2018 (GLOBE NEWSWIRE) -- Jericho Oil Corporation (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) announces that it has retained Toronto based Trapeze Capital Corp. to provide market-making services in accordance with TSX Venture policies.

Under the terms of the agreement (the "Agreement"), Trapeze will receive cash compensation of $5,500 per month. Trapeze does not currently own any securities of Jericho, however, Trapeze and its clients may acquire a direct interest in the securities of Jericho. Jericho and Trapeze are unrelated and unaffiliated entities, and the principals of Trapeze are Herb Abramson, Randall Abramson and Adam Abramson. Trapeze is a member of the Investment Industry Regulatory Organization of Canada, a participating organization of TSX and a member of TSX-V. The capital and securities required for any trade undertaken by Trapeze as principal will be provided by Trapeze. The Agreement is for an initial term of 180 days, with automatic renewals for a further 180 days unless terminated.

The Company also announces that due to an extended medical leave of its Chief Financial Officer, Robin Peterson, it has appointed Benjamin Holman as interim CFO of Jericho.

Mr. Holman, based in Tulsa, Oklahoma, has more than 17 years’ experience in accounting and business administration in the oil and gas industry, including senior positions at Apco Oil and Gas International Inc., a former subsidiary of The Williams Companies and WPX Energy. He has been working with Jericho at its Tulsa operational headquarters since November 2017. Mr. Holman is a CPA, with a MAcc, B.S. and BSBA, all from the University of Tulsa.

About Jericho Oil Corporation

Jericho Oil (www.jerichooil.com) is focused on domestic, liquids-rich unconventional resource plays, located primarily in the Anadarko basin STACK play of Oklahoma.  Jericho’s primary business objective is driving long-term shareholder value through the growth of oil and gas production, cash flow and reserves.  Jericho has assembled a 55,000 net acre position across Oklahoma, including an interest in 14,000 net acres in the STACK play.

Jericho’s current operations are focused on the oil-prone Meramec and Osage formations in the STACK.  The Jericho team applies advanced engineering analyses and enhanced geological techniques to under-developed resource areas.

Based in Vancouver, British Columbia, with operational headquarters in Tulsa, Oklahoma, Jericho trades publicly on the TSX-Venture (TSX-V:JCO) and OTC (OTC PINK:JROOF).

Cautionary Note Regarding Forward-Looking Statements: This news release includes certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and Canadian securities laws. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual events and results to differ materially from Jericho's expectations include risks related to the exploration stage of Jericho's project; market fluctuations in prices for securities of exploration stage companies; and uncertainties about the availability of additional financing.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACTS:

Tony Blancato,
Director, Investor Relations
918.986.7616

or

Adam Rabiner,
Director, Corporate Communications
1.800.750.3520
[email protected]

 

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Source: GlobeNewswire (April 23, 2018 - 12:30 PM EDT)

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