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TULSA, OK / ACCESS Newswire / July 7, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce it has signed a Memorandum of Understanding (MOU), dated July 6, 2025, with M2 Development Solutions (“M2”) to form a strategic partnership. This collaboration will integrate M2’s large, gigawatt-scale sites into Jericho’s growing AI data center portfolio.
This partnership significantly expands Jericho’s U.S. footprint beyond its Oklahoma asset base, incorporating M2’s high-capacity sites in Ohio and Nevada. The initial sites include:
Ohio – 400 Acres with access to Utility Power and on-site Natural Gas feed Power generation assets
Nevada – 3,700 Acres with access to Utility Power, on-site Geothermal power, on-site solar power, and on-site Natural Gas feed Power generation assets
Together, JEV and M2 are well-positioned to meet the rapidly increasing demand for scalable, high-performance infrastructure optimized for advanced artificial intelligence (AI) workloads across the United States.
“Our partnership with M2 is a transformative step in executing our AI data center strategy,” said Brian Williamson, CEO of Jericho Energy Ventures. “Integrating M2’s gigawatt-scale sites accelerates our ability to deliver scalable, energy-efficient infrastructure for modern AI workloads. With the proven leadership of COL (Ret.) Mark Schonberg and Mark Vogel, we are poised to meet the surging AI compute demand across key U.S. markets.”
About M2 Development Solutions, LLC
M2 is co-led by Col. (Ret.) Mark Schonberg and Mark Vogel, bringing extensive expertise to the partnership:
Col. (Ret.) Mark Schonberg is a 30-year U.S. Army veteran and a seasoned infrastructure leader. His deep expertise spans IT services, cybersecurity, and data center development. Throughout his military career, he held senior positions including Cyber Capabilities Development and Integration Director for the U.S. Army and CIO/G6 at Army Cyber Command. He also played a key role in the IT and C4I build-out for the $16 billion Yongsan Relocation Program in South Korea. Since retiring in 2020, Col. Schonberg has continued to lead in the private sector, focusing on data center infrastructure, renewable energy, and smart city solutions.
Mark Vogel is a seasoned real estate development leader with over 40 years of experience delivering transformative commercial, residential, and mixed-use projects, including the $400M Bowie Town Center (375-acre mixed-use, MD) and high-rise student housing near the University of Maryland in College Park. Known for his strategic vision and collaborative approach, he now leads cutting-edge data center developments to meet surging demand for high-performance digital infrastructure across the U.S. Drawing on deep expertise in land planning, community engagement, and infrastructure delivery, Mark drives sustainable, high-impact projects that reshape communities and power the digital economy. His philanthropic work includes founding the “Give a Dam” campaign in Burkina Faso through Africare, two years in the Peace Corps in Liberia, and leading the Greater Oxon Hill CDC to advance housing, health, and economic opportunity in communities in Maryland. He also spent over a decade fundraising for Mission of Love Charities, supporting food security, housing, mental health, and workforce development for vulnerable populations.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging our long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, we are deploying scalable, on-site power solutions to build cutting-edge build-to-suit AI Data Centers. With direct access to abundant, low-cost natural gas, we deliver efficient, high-performance energy solutions — reducing waste, maximizing output, and unlocking long-term value in the rapidly converging AI and energy markets.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements, including, but not limited to, statements regarding the successful implementation of the JEV-M2 MOU and the planned rollout of JEV’s AI Data Centers initiative.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
IEA Predicts AI Data Centers Will Account for Half of U.S. Electricity Demand Growth
TULSA, OK / ACCESS Newswire / May 2, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is capitalizing on its strategic positioning along a main U.S. fiber ‘superhighway’ route to fast-track the development of its AI Modular Data Center project in Oklahoma.
JEV’s management considers its strategically located, fiber-connected energy infrastructure and access to low-cost natural gas as key advantages in providing high-performance, scalable solutions to meet the rising demands of the AI and energy sectors.
An April 2025 International Energy Agency (IEA) report projects that AI data centers will account for half of the U.S. electricity demand growth, surpassing the combined electricity consumption of aluminum, steel, cement, chemicals, and other energy-intensive industries by 2030.
Brian Williamson, CEO of JEV, commented: “Locating our modular data centers directly on the fiber backbone gives us a speed and efficiency advantage, while our abundant energy resources allow us to offer reliable, cost-effective AI compute power. Our modular data center design enables rapid deployment and expansion, providing the flexibility and performance demanded by next-generation AI workloads.”
Jericho recently partnered with AT&T to deploy a minimum of 10Gbps of fiber optic connectivity at its initial Modular High Performance AI Data Center site. This installation leverages advanced data transfer protocols and is engineered to scale beyond 100Gbps to meet future demand.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging our long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, we are deploying scalable, on-site power solutions to build cutting-edge modular AI data centers. With direct access to abundant, low-cost natural gas, we deliver efficient, high-performance energy solutions — reducing waste, maximizing output, and unlocking long-term value in the rapidly converging AI and energy markets.
JEV is also driving the clean hydrogen energy transition. Our wholly owned subsidiary, Hydrogen Technologies, delivers patented zero-emission boiler and burner systems for commercial and industrial heat and steam applications. We also hold a significant minority stake and a board position in California Catalysts (formerly H2U Technologies), a leading innovator in electrolysis materials.
At JEV, our mission is clear: to innovate relentlessly, optimize energy resources, and power tomorrow’s breakthroughs, one bold step at a time.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new AI Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
TULSA, OK / ACCESS Newswire / April 9, 2025 / Further to its news release dated March 31, 2025, Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce that it has partnered with AT&T to install a minimum of 10Gbps of fiber optic at its initial Modular High Performance AI Data Center site in Oklahoma. This deployment leverages the latest technology and data transfer protocols and is designed to scale beyond 100Gbps to meet anticipated demand growth.
On March 31, 2025, JEV unveiled its innovative Modular Data center venture, harnessing its natural gas assets and infrastructure to drive the development of advanced, technology-driven, AI-focused computing solutions tailored for the AI era.
Brian Williamson, CEO of Jericho Energy Ventures, commented: “We are moving full steam ahead in building out our AI modular data centers, and partnering with industry-leader AT&T along with others to deploy high-speed fiber connectivity on-site is a critical step in developing a next-generation modular AI computing infrastructure. By leveraging our natural gas assets and strategic locations, we are uniquely positioned to provide scalable, reliable, and cost-effective power solutions to meet the growing demands of the AI age.”
A March 30, 2025, Wall Street Journal article, “The AI Data-Center Boom Is Coming to America’s Heartland,” highlights how Meta and other tech giants are scouring rural America for land, transmission lines and natural gas to power AI operations, drawing them into the heart of the nation’s oil and gas region.
Jericho also announces that it has granted 1,000,000 incentive stock options (the “Options”) under its stock option plan (the “Plan”) to McKenna & Associates, a boutique advisory and investment firm and a 10% security holder of JEV. The firm’s principal is Andrew J. McKenna. The Options are exercisable at a price of C$0.20 for a period of up to 3 years.
Expressing McKenna & Associates’ continued support for JEV, Brian Schafer, President, stated: “Jericho’s launch of its natural gas-powered modular AI data center in Oklahoma is a smart, forward-thinking response to rising U.S. data storage demand. It reflects bold vision and strong execution to merge resilient and deployable data centers that capitalize on the plethora of small natural gas repositories across America’s heartland. I have full confidence in the management team and their strategy, and I remain fully committed to supporting Jericho’s next growth phase — including exploring a U.S. listing — as the Company works to deliver greater shareholder value at this pivotal stage.”
About Jericho Energy Ventures Jericho is an energy company positioned to meet today’s energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
Company well positioned to capitalize on Trump administration’s pro-energy regulatory landscape
TULSA, OK AND VANCOUVER, BC / ACCESS Newswire / March 31, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the launch of its innovative Modular Data Center venture, utilizing natural gas assets and infrastructure as the foundation for the development of advanced, technology-driven AI computing solutions for the AI era.
JEV’s management believes the Company is ideally positioned to capitalize on the Trump administration’s pro-energy and pro-development regulatory landscape by leveraging its strategic partnerships, robust infrastructure, prime acreage in Oklahoma’s storied energy corridor, and abundant availability of cost-effective natural gas to power data centers.
Jericho’s Modular Data Center business will be overseen from its Tulsa, Oklahoma regional office, where the Company’s oil and gas joint venture currently owns and operates approximately 40,000 acres of productive land.
By converting its natural gas into long-term reliable on-site power, JEV intends to offer secure, modular, latest and next-generation computing infrastructure tailored for AI applications – enhancing efficiency, reducing waste, and strengthening energy resilience.
In conjunction with this initiative, Jericho will renew its focus on maximizing and developing its traditional energy assets to drive significant production growth.
Brian Williamson, CEO of Jericho, stated: “We are taking a page from the playbook of our industry leaders, utilizing our natural gas and infrastructure as a means to fuel modular AI computing solutions. We believe this unlocks a transformative growth opportunity. By aligning our energy resources with the booming demand for modular AI computing infrastructure, we aim to boost revenue and elevate shareholder value through an innovative, sustainable approach.”
“In addition to utilizing natural gas assets to power our modular AI centers, we will work with our local utilities and cooperatives to provide redundant cost-effective power solutions to ensure high availability. We also see the pathway where we can leverage our energy transition assets, offering customers a lower-carbon hydrogen fuel solution for their AI compute.”
A McKinsey & Company report from October 24, 2024, stated that demand for AI-ready data centers offers many opportunities for companies and investors across the value chain, and projects that global data center demand could grow 19-22% annually from 2023 to 2030, reaching 171-219 gigawatts (GW). In a less likely scenario, demand could surge 27% to 298 GW-far exceeding today’s 60 GW. To prevent a supply shortfall, double the capacity built since 2000 would need to be constructed in under a quarter of the time.
Global investment in U.S. data centers is surging. On January 7, 2025, Dubai-based DAMAC Properties announced plans to invest an initial $20 billion into data centers tailored for AI and cloud computing, with the first phase of the project planned to take place in Oklahoma, Texas, Louisiana, Ohio, Illinois, and Indiana.
About Jericho Energy Ventures
Jericho is an energy company positioned to meet today’s energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. Etna Solutions, Inc., majority owned by JEV, is developing a patent-pending, high-temperature, low-cost alkaline-based electrolyzer system. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the completion of its new Modular Data Centers initiative launch and successful supplier and customer adoption.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
PHILADELPHIA, PA AND VANCOUVER, BC / ACCESS Newswire / March 10, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) announces the sale of its minority stake in Supercritical Solutions as part of its strategy to sharpen focus on its core operating assets and drive shareholder value.
The transaction is valued at approximately US$1.8 million, with 60% of the funds already received. The buyer has up to 60 days to complete the purchase of the remaining 40% balance.
Brian Williamson, CEO of Jericho, stated, “In 2025, our goal is to streamline our portfolio and concentrate on our core operating assets, where we can drive development and success. We have immense respect for the Supercritical Solutions team and their technology, and we look forward to it becoming a key supply option for our Hydrogen Technologies’ boiler customers in the future.”
Jericho also announces that it has granted 3,400,000 incentive stock options (the “Options”), pursuant to its stock option plan (the “Plan”), to certain directors and officers of the Company. The Options are exercisable at a price of C$0.20 for a period of up to 5 years.
Digital Marketing Services Agreement
Additionally, JEV announces that it has entered into a digital marketing services agreement with Senergy Communications Capital Inc., for an initial two-month period, expected to commence on April 1, 2025. Under the agreement, Senergy will provide a comprehensive suite of services, including digital advertising, media program management, social media marketing and shareholder communications. The agreement may be extended upon mutual written consent. In consideration of its services, the Company will pay Senergy a fee of up to C$100,000 plus GST in installments over the term of agreement. To the Company’s knowledge, Senergy and its principal, have no direct or indirect interest in JEV and have no intention or right to acquire such an interest. The engagement is subject to TSX Venture Exchange approval. Senergy is a British Columbia based company headed by Aleem Fidai who is operating at arm’s length from the Company.
About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the successful completion of the transfer of funds for the sale agreement of Jericho’s minority stake in Supercritical Solutions.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
PHILADELPHIA, PA and VANCOUVER, BC / ACCESS Newswire / January 29, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the second and final tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 12,255,000 units (the “Units”) at a price of $0.10 per unit in the second tranche of the Financing, generating gross proceeds of $1,225,500.
The total gross proceeds raised from the first and second tranches of the Financing amounted to $2,024,500.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of $0.20 for a period of two years from closing.
All securities issued under the second tranche of the Financing are subject to a four month and one day hold period expiring on May 30, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
Two insiders of Jericho acquired an aggregate 1,700,000 Units in the second tranche of the Financing (the “Insider Participation”).
The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
PHILADELPHIA, PA and VANCOUVER, BC / ACCESSWIRE / January 15, 2025 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTC PINK:JROOF)(FRA:JLM) (“Jericho”, “JEV” or the “Company”) is pleased to announce the closing of the first tranche of its previously announced non-brokered private placement (the “Financing”). The Company issued 7,990,000 units (the “Units”) at a price of C$0.10 per unit, generating gross proceeds of C$799,000. A second and final tranche of the Financing is expected to close in short order.
Each Unit consists of one common share (each, a “Share“) and one share purchase warrant (each, a “Warrant“), with each Warrant entitling the holder to purchase one Share at a price of C$0.20 for a period of two years from closing.
All securities issued under the Financing are subject to a four month and one day hold period expiring on May 16, 2025, under applicable securities laws in Canada and the rules of the TSX Venture Exchange (the “Exchange”). The Financing remains subject to final approval of the Exchange.
In connection with the first tranche of the Financing, the Company paid a total of C$8,680 in cash finder’s fees and issued a total of 86,800 finders’ Warrants. The finders’ Warrants are non-transferable and have the same terms as the Warrants forming part of the Units.
An insider of Jericho purchased 1,000,000 Units in the Financing (the “Insider Participation”). The Insider Participation is exempt from the valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Securityholders in Special Transactions (“MI 61-101”) by virtue of the exemptions contained in Sections 5.5(a) and 5.7(1)(a) of MI 61-101 based on that the fair market value of such Insider Participation does not exceed 25% of Jericho’s market capitalization.
Net proceeds from the Financing will be used for general working capital purposes.
The securities referred to herein will not be or have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
About Jericho Energy Ventures
Jericho is an energy company positioned for the current energy transitions; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Our wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the Commercial & Industrial heat and steam industry. We also hold strategic investments and board positions in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis, and Supercritical Solutions, developing the world’s first, high pressure, ultra-efficient electrolyzer. Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma which it is currently developing from cash flows in an effort to further increase production.
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively, “forward-looking statements“) within the meaning of applicable securities laws. Such forward-looking statements are not representative of historical facts or information or current condition, but instead represent only Jericho’s beliefs regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of Jericho’s control. Forward-looking statements are frequently characterized by words such as ”plan”, “expect”, “project”, “intend”, “believe”, “anticipate”, “estimate” and other similar words, or statements that certain events or conditions “may”, “will” or “may not” occur. Specifically, this news release contains forward-looking statements relating to, among others, the Company’s ability to successfully complete the Financing, conditions to closing of the Financing, and the use of proceeds from the Financing.
Forward-looking statements are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements, which include, but are not limited to: regulatory changes; changes to the definition of, or interpretation of, foreign private issuer status; the impacts of COVID-19 and other infectious diseases; general economic conditions; industry conditions; current and future commodity prices and price volatility; significant and ongoing stock market volatility; currency and interest rate fluctuation; governmental regulation of the energy industry, including environmental regulation; geological, technical and drilling problems; unanticipated operating events; the availability of capital on acceptable terms; the need to obtain required approvals from regulatory authorities; liabilities and risks inherent in oil and gas exploration, development and production operations; liabilities and risks inherent in early stage hydrogen technology projects, energy storage, carbon capture and new energy systems; changes in government environmental objectives or plans; and the other factors described in Jericho’s public filings available at www.sedarplus.ca.
The forward-looking statements contained herein are based on certain key expectations and assumptions of Jericho concerning anticipated financial performance, business prospects, strategies, regulatory regimes, the sufficiency of budgeted capital expenditures in carrying out planned activities, the ability to obtain financing on acceptable terms, expansion of consumer adoption of the Company’s (or its subsidiaries’) technologies and products, results of DCC™ feasibility studies and the success of investments, all of which are subject to change based on market conditions, potential timing delays and other risk factors. Although Jericho believes that these assumptions and the expectations are reasonable based on information currently available to management, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Investors should not place undue reliance on forward-looking statements.
Readers are cautioned that the foregoing lists are not exhaustive. The forward-looking statements contained in this news release are made as of the date of this news release, and Jericho does not undertake to update any forward-looking statements that are contained or referenced herein, except as required by applicable securities laws.
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.
An aerial view shows an oil factory of Idemitsu Kosan Co. in Ichihara · Reuters
By Katya Golubkova
TOKYO (Reuters) – Oil prices eased only slightly on Tuesday, holding on to most of their gains from the prior session as mounting geopolitical risk after the fall of Syrian President Bashar al-Assad and China’s vow to ramp up policy stimulus kept a floor under prices.
Brent crude futures were down 13 cents, or about 0.2%, at $72.01 per barrel. U.S. West Texas Intermediate crude futures were down 14 cents, also 0.2% lower, at $68.23 at 0151 GMT. Both climbed more than 1% on Monday.
“Rising geopolitical tension in the Middle East following the collapse of the Syrian government has added a little risk premium to crude oil prices,” ANZ Research said in a note.
While Syria itself is not a major oil producer, it is strategically located and has strong ties with Russia and Iran, and a regime change could raise regional instability.
Ousted Syrian President Assad’s prime minister said he had agreed on Monday to hand power to the rebel-led Salvation Government, a day after the rebels seized the capital Damascus and Assad fled to Russia.
The imminent power transfer follows 13 years of civil war and the end to over 50 years of brutal rule by the Assad family.
Oil prices also got a boost in the previous session from reports that China will adopt an “appropriately loose” monetary policy next year, the first easing of its stance in some 14 years, to spur economic growth in the world’s top oil importer.
While a drop in China’s consumer inflation to a five-month low in November dragged on investor sentiment, analysts expect crude oil prices to benefit going forward from China’s fiscal stimulus.
“I think this morning’s weakness will prove to be a good buying opportunity, looking for crude oil to move towards the top of its recent range $72.50ish,” Tony Sycamore, analyst at IG, said by email.
The markets are expecting China trade data for November on Tuesday and a report from the American Petroleum Institute (API) industry group later in the day showing U.S. crude oil and gasoline stockpiles last week.
A preliminary Reuters poll showed on Monday that U.S. crude oil and gasoline stockpiles were expected to have fallen last week while distillate inventories likely rose. Data from the Energy Information Administration is due on Wednesday.
Also in the U.S., oilfield service companies ramped up hiring in November, adding 1,890 jobs in the sector, according to data from trade group Energy Workforce & Technology Council, in an indication of more drilling and higher oil production.
(Reporting by Katya Golubkova; Editing by Himani Sarkar)
For most commentators, a “stable price level” is the key for economic stability. For instance, let us say that there is a relative increase in consumer demand for potatoes versus tomatoes. This relative increase is depicted, all things being equal, by the relative increase in the price of potatoes. To be successful, businesses must pay attention to consumer demand. Failing to do so is likely to lead to losses. Hence, by paying attention to relative changes in prices, producers are likely to increase the production of potatoes versus tomatoes.
According to many economists, if the “price level” is not “stable,” then the visibility of the relative price changes becomes blurred and, consequently, businesses cannot ascertain the relative changes in the demand for goods and services and make correct production decisions. This leads to a misallocation of resources and to the weakening of economic fundamentals. Thinking this way, unstable changes in the price level obscure a business person’s ability to ascertain changes in the relative prices of goods and services. Thus, businesses find it difficult to recognize a change in relative prices when the price level is unstable.
Given such presuppositions, it is not surprising that the mandate of the central bank is to pursue policies that will allegedly bring “price stability” (i.e., a stable price level). By means of various quantitative methods, the Fed’s economists have established that policymakers should aim at keeping the yearly growth rate of prices of goods and services at two percent. Any significant deviation from this figure supposedly constitutes deviation from stable growth.
The Assumption of Money Neutrality & “Price Stability”
At the root of price stabilization policies is a view that money is neutral, that is, changes in the money supply only have an effect on the price level while having no effect on the relative prices. For instance, if one apple exchanges for two potatoes then the price of an apple is two potatoes or the price of one potato is half an apple. Now, if one apple exchanges for one dollar, then the price of a potato is $0.50. Note that the introduction of money does not alter the fact that the relative price of potatoes versus apples is 2:1 (two-to-one). Thus, a seller of an apple will get one dollar for it, which, in turn, will enable him to purchase two potatoes.
Let us assume that the stock of money has doubled and, as a result, the purchasing power of money has halved, or the price level has doubled. This means that now one apple can be exchanged for two dollars while one potato for one dollar. Despite the doubling in prices, a seller of an apple with the obtained two dollars can still purchase two potatoes. Assuming money neutrality, an increase in the quantity of money leads to a proportionate increase in prices. Conversely, a fall in the quantity of money results in a proportionate decline in the prices. Why is this way of thinking problematic?
Money is Not Neutral
When new money is injected, there are always first recipients of the newly-injected money who benefit from this injection. The first recipients, with more money at their disposal, can now acquire a greater amount of goods while the prices of these goods are still unchanged. As money starts to move through the economy, the prices of goods begin to rise, unevenly and disproportionately. Consequently, late receivers of the inflated money realize costs from the monetary injections and may even find that most prices have risen so much that they can now afford fewer goods.
Artificial increases in money supply generate a redistribution of wealth from later recipients, or non-recipients of money, to the earlier recipients. Obviously, this shift in wealth alters individuals’ demands for goods and services and, in turn, further alters the relative prices of goods and services. Inflationary increases in money supply set in motion new dynamics that give rise to changes in demands for goods and services and to changes in their relative prices. Hence, increases in money supply cannot be neutral.
Again, a change in relative demands here is on account of wealth diversion from the latest recipients of money to the earlier recipients. This change in relative demands cannot be sustained without ongoing increases in the money supply. Once the growth rate of the money supply slows down or ceases altogether, various activities that emerged on the back of this inflationary increase in the money supply come under pressure. It follows, then, that an artificial increase in the money supply gives rise to changes in relative prices, which sets in motion an unsustainable structure of production.
Hence, the Fed’s monetary policy—which aims at stabilizing the price level—necessarily involves growth in the money supply. Since inflationary changes in the money supply are not neutral, this means that the central bank policy amounts to tampering with relative prices, which leads to the disruption of the efficient allocation of resources.
While increases in money supply are likely to be revealed in general price increases, this is not always the case. Prices are determined by real and monetary factors. Consequently, it can occur if the real factors are pulling things in an opposite direction to monetary factors. In such a case, a visible change in prices may not take place. While money growth is buoyant, prices might display moderate increases. If we were to pay attention to changes in the price level and disregard increases in the money supply, we would reach misleading conclusions regarding the state of the economy. On this, Rothbard wrote,
The fact that general prices were more or less stable during the 1920s told most economists that there was no inflationary threat, and therefore the events of the great depression caught them completely unaware.
There is No “Price Level”
The whole idea of the general purchasing power of money and, therefore, the “price level” cannot even be established conceptually. When one dollar is exchanged for the one loaf of bread, we can say that the purchasing power of the one dollar is the one loaf of bread. If one dollar is exchanged for two tomatoes, then this also means that the purchasing power of the one dollar is two tomatoes. Such information regarding the specific purchasing power of money at that moment in time does not, however, allow the establishment of the general, total purchasing power of money. It is not possible to ascertain the total purchasing power of money because we cannot meaningfully add up two tomatoes to the one loaf of bread. We can only establish the purchasing power of money with respect to a particular good in a transaction at a given point in time and at a given place. According to Rothbard,
Since the general exchange-value, or PPM (purchasing power of money), of money cannot be quantitatively defined and isolated in any historical situation, and its changes cannot be defined or measured, it is obvious that it cannot be kept stable. If we do not know what something is, we cannot very well act to keep it constant.
Conclusion
For most commentators, the key to healthy economic fundamentals is “price stability.” A “stable price level,” it is held, leads to the efficient use of the economy’s scarce resources and hence results in better economic fundamentals. It is not surprising that the mandate of the Federal Reserve is to pursue policies that will supposedly generate price stability. Through monetary policies (inflation) that aim at stabilizing the price level, the Fed actually undermines economic fundamentals. An ever-growing interference of the central bank with the working of markets moves the US economy towards the growth path of persistent economic impoverishment and drastically lower living standards.
On the contrary, what is required is not a policy of dubious “price stability,” but rather allowing free price fluctuations and maintaining sound money. Only in an environment free of central bank tampering can free and voluntary fluctuations in relative prices can take place. This, in turn, permits businesses to abide by consumer instructions.
