Company to Attend 2015 NAPE Summit in Houston
VANCOUVER, Feb. 10, 2015 /CNW/ - Jericho Oil Corporation ("Jericho" or the "Company") (TSX-V: JCO, OTCQX: JROOF), a growth-oriented oil company engaged in the acquisition, exploration, development and production of overlooked and undervalued oil properties in the U.S., announces that it has secured DTC Eligibility by The Depository Trust Company (DTC) for its shares on the OTCQX effective Feb. 9, 2015.
Securities approved for eligibility for electronic clearance and settlement through the DTC are considered "DTC eligible." This electronic method of clearing securities accelerates the receipt of stock and cash, streamlines the settlement process for U.S. investors and brokers and enables the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
Allen Wilson, CEO of Jericho, said, "Becoming DTC eligible greatly simplifies the process of trading and exchanging our stock in the U.S., which we expect will lead to improved liquidity of our shares."
The Company also announces that it will be exhibiting at the NAPE Summit in Houston, TX, the world's largest exploration and production (E&P) gathering. Jericho will be at booth #1551, Feb. 12-13, 2015.
Jericho is well-capitalized with no debt and intends to continue to focus its efforts on acquiring assets with good, long-term development potential at favorable pricing due to the turbulent oil market.
About Jericho Oil Corporation
Jericho is focused on growth through consistent, predictable and repeatable high margin conventional oil production by bringing new and proven technology to legacy, onshore basins in the U.S. Jericho has acquired a 50% interest in nearly 5,800 acres. Jericho will provide updates as their program progresses. For more information, please visit www.jerichooil.com.
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.
SOURCE Jericho Oil Corporation