Jericho Oil Achieves Record Production in September 2014
VANCOUVER, Oct. 22, 2014 - Jericho Oil Corporation ("Jericho" or the "Company") (TSX-V: JCO, Frankfurt: JLM) today announced that gross daily production from its Eastern Kansas oil producing acreage averaged approximately 118 barrels of oil per day in September 2014 with cumulative monthly production exceeding 3500 barrels.
This represents an increase in production of approximately 130% since Jericho recommenced trading on the TSX Venture on March 25, 2014.
Allen Wilson, CEO of Jericho Oil, stated, "Having drilled less than 10% of our acreage, we look forward to continuing our development efforts in the region and building on this early success in the near term. Our recently announced Phase II Development Program is expected to further strengthen our production profile and cash flow."
On September 23, 2014, Jericho announced the launch of its Phase II Development Program. The first stage calls for 25 vertically producing wells and 25 water injection wells to be drilled, equipped and completed into known producing formations during Q4-2014.