Jericho Oil Corp. has completed the acquisition of an additional 25% working interest in a producing oil and gas asset package in central Oklahoma from its private family partner for US$3.5 million.
Jericho purchased an initial 25% working interest in the asset package at year-end 2015, with its private family partner acquiring 75% working interest. Jericho now holds 50% ownership across all assets—excluding its recent Stack acquisition—acquired in 2015 and 2016.
Jericho has also granted 100,000 incentive stock options to a director of the company. The options are exercised at a price of C$0.75 (US$ 0.60 cent) per share for a period of five years.
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