Jericho Oil Corp. (TSXV: JCO.V) said Oct. 29 that it added 150 acres to its core development area in Miami County, Kansas. There are now more than 3,750 acres in the total lease acreage, the company added.
A recently closed, roughly-$4.2 million financing supported the acquisition.
The new acres are contiguous to 320 acres under development. Since the first quarter, production on these acres has increased 300%, Jericho noted.
"We continue to successfully execute our development plan and add proven, de-risked contiguous acreage to our core properties while continuing to seek further acquisition opportunities at low costs to Jericho shareholders," said CEO Allen Wilson.
Vancouver, British Columbia-based Jericho Oil Corp. explores and produces oil in eastern Kansas and provides technology to onshore basins across North America.
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