CORRECTION

North American Oil Industry Expecting Impressive Growth as 2018 Production Forecast Nears 11 Million Barrels Per Day - Seite 2

Accordingly, Jericho has elected to participate in the drilling of the Wardroom well (Section 12-19N13W; 46.87% WI / 37.5% NRI to STACK JV) with Staghorn as the Operator and pay its proportionate working interest share of costs related to drilling and completion.  The Wardroom well has been spud and is currently being drilled.  It is approximately a 4,500-foot lateral targeting the Meramec formation in the normally-pressured oil window.

Brian Williamson, CEO of Jericho Oil, stated, "With a New Year and oil prices at our back, we are excited about our growing STACK position and to be participating in our first horizontal STACK well targeting the prolific Meramec formation.  Our acreage swap agreement ensures Jericho receives critical data for future operated drilling activities, and participation in the drilling of proximate horizontal wells to our footprint, with a proven best-in-class STACK operator.  We look forward to updating our shareholders on future growth opportunities as 2018 unfolds."    The acreage swap is subject to customary due diligence and is expected to close by the end of January.

To get an in-depth look into Jericho Oil Corporation provided by Streetwise Reports, Wall Street's leading and authoritative industry expert, please go to:  https://www.streetwisereports.com/article/2018/01/16/junior-e-p-begins ...

In the industry developments and happenings in the market this week include:      

Marathon Oil Corporation (NYSE: MRO) closed up on Monday at $18.82 trading over 10.3 million shares by the market close. Marathon Oil Corporation unconventional Oklahoma production increased 18 percent to 58,000 net boed during third quarter 2017, compared to 49,000 net boed in the prior quarter and up more than 40 percent from the year-ago quarter. The Company brought 15 gross Company-operated wells to sales during the quarter predominately focused on leasehold capture and delineation activity. The Landreth, a STACK Meramec leasehold well in the volatile oil window in Blaine County, had an average 30-day IP rate of 2,420 boed (59% oil, 4,600-foot lateral), and an early test of the Osage in Kingfisher County achieved promising results with a 30-day IP of 850 boed (55% oil, 4,700-foot lateral).