Jericho Oil Receives C$500K From Warrant Exercise

TULSA, Okla. and VANCOUVER, British Columbia, April 12, 2018 (GLOBE NEWSWIRE) -- Jericho Oil Corp. (“Jericho”) (TSX-V:JCO) (OTC PINK:JROOF) announces that all outstanding common share purchase warrants (the "Warrants") expiring on April 13, 2018 have been exercised. A total of 827,900 warrants were exercised at $0.60 per share for proceeds to the Company of $496,740.

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
investorrelations@jerichooil.com