Wednesday, 14 October 2026 07:30 AM
Company Update
TULSA, OK AND VANCOUVER, BC / ACCESS Newswire / October 14, 2026 / Jericho Energy Ventures Inc. (TSXV:JEV)(OTCID:JROOF)(FRA:JLM) ("Jericho", "JEV" or the "Company") is pleased to announce the appointment of Julie Corelli to its Board of Directors, effective October 13, 2026. Following the appointment of Ms. Corelli, the board will comprise six directors.
Ms. Corelli is a retired corporate attorney who brings more than 40 years of legal, transactional and governance experience to Jericho. She retired in January 2026 from Troutman Pepper Locke, a leading Am Law 50 law firm with more than 1,600 attorneys across more than 30 offices in the United States and internationally. Ms. Corelli became a partner at Pepper Hamilton, a predecessor firm to Troutman Pepper Locke, in 1992 and spent more than three decades as a partner of the firm and its successor organizations.
During the latter part of her practice, Ms. Corelli advised investment vehicles across a broad range of asset classes, as well as family offices and private companies, on formation, regulation, operations, corporate transactions and governance matters. Earlier in her career, she focused on corporate and partnership taxation, private equity and M&A transactions.
Ms. Corelli held significant leadership positions at Pepper Hamilton, including serving for seven years as Chair of its Corporate Department and for 12 years on its Executive Committee, including as Vice Chair from 2013 to 2017. She also served on the Board of Malvern Bancorp, N.A. from 2018 until its merger with First Bank NJ in 2023 and has additional private-company and nonprofit board experience.
Ms. Corelli holds a J.D. and an LL.M. in Taxation from Villanova University and a B.A. in American History from Yale University.
Brian Williamson, CEO of Jericho, commented: "We are pleased to welcome Julie to the Jericho Board and to add her strong corporate governance experience to our organization. We continue to see Oklahoma's regulatory framework and pro-business push driving value across our joint venture platform as energy underpins Jericho's value proposition. Our newly formed AI infrastructure platform continues to see energy and energy infrastructure as the pathway to unlocking value from traditional energy assets, and we believe Jericho is strategically positioned for growth."
In conjunction with Ms. Corelli's appointment, the Company is pleased to provide the following corporate update highlighting recent strategic, operational and organizational developments.
KEY BUSINESS UPDATE HIGHLIGHTS
Oil & Gas Assets Results Improve
Jericho continues to advance the value optimization of its oil and gas joint venture assets, which remain the Company's core business and source of revenue. Over the last four quarters (Q2 2025-Q2 2026), Jericho delivered improved margins and stabilized operating costs of approximately $34.24 per barrel, reflecting stronger market fundamentals and continued operational discipline. Key highlights include:
- Q2 Gross production averaged 237 BOE/d.
- Q2 Operating costs declined 29% year-over-year to approximately $34.24 per barrel.
- Q2 Gross margins improved $722,365 v $527,745 Q1 2026.
Leadership Team Addition
Jericho also welcomed James Lovely as Director of Finance. Based in Tulsa, Oklahoma, Mr. Lovely will work with Jericho's leadership to advance its interest across its joint venture platforms, including its oil and gas assets and Oklahoma AI Ventures LLC. He will oversee asset reviews and screening, financial modeling and investment analysis for the Company's joint venture endeavors. He will also support capital raising, investor relations and corporate strategy. Mr. Lovely's career spans enterprise software, medtech, venture capital, energy and banking, in organizations ranging from Fortune 500 companies to early-stage startups.
Oklahoma AI Ventures LOI with Major Power & Energy Infrastructure Company
As recently announced by Jericho's joint venture partner Comstock Holding Companies (Nasdaq:CHCI), Oklahoma AI Ventures LLC has entered into a non-binding Letter of Intent (LOI) with a premier electric power and energy infrastructure company to serve as the exclusive power provider for up to 3 gigawatts (GW) of power across Oklahoma AI Ventures' assembled land portfolio. Oklahoma AI Ventures is the strategic joint between Comstock and an entity in which Jericho holds an indirect interest, and holds development rights covering approximately 6,000 acres within an 18,000-acre subsurface portfolio in north-central Oklahoma. The LOI is non-binding, and there can be no assurance that it will result in a definitive agreement or on what terms.
Access to large-scale power infrastructure represents a critical component of AI and high-performance computing campus development and further advances Oklahoma AI Ventures' strategic development objectives.
About Jericho Energy Ventures
Jericho Energy Ventures (JEV) is uniquely positioned at the nexus of energy and AI infrastructure. Leveraging our long-producing oil and gas joint venture assets and robust Oklahoma infrastructure, JEV is deploying scalable, on-site power solutions to build cutting-edge build-to-suit AI Data Centers. With direct access to abundant, low-cost natural gas, JEV delivers efficient, high-performance energy solutions - reducing waste, maximizing output, and unlocking long-term value in the rapidly converging AI and energy markets. For more information, please visit JerichoEnergyVentures.com.
CONTACT:
Brian Williamson, CEO, or
Adam Rabiner, Investor Relations
Jericho Energy Ventures Inc.
T: +1 604-343-4534
E: [email protected]
Forward-Looking Statements
This news release contains certain "forward-looking information" and "forward-looking statements" (collectively, "forward-looking statements") within the meaning of applicable Canadian securities laws. Forward-looking statements are not historical facts and are based on management's current expectations, beliefs, assumptions and projections regarding future events, business performance and strategic objectives. Forward-looking statements may be identified by words such as "anticipate," "believe," "expect," "intend," "plan," "will," "may," "could," "potential," "continue," "advance," and similar expressions.
Forward-looking statements in this news release include, but are not limited to, statements regarding the development of the Company's AI infrastructure platform and AI data center initiatives; the activities, plans and prospects of Oklahoma AI Ventures LLC; the potential benefits and implications of the power-related LOI; the advancement of development rights and infrastructure opportunities in Oklahoma; the optimization, expansion and economics of the Company's oil and gas assets; the anticipated benefits of management and board appointments; the Company's growth strategy; and the existence, timing or impact of potential future catalysts and business opportunities.
Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, the ability of the Company and its partners to execute on strategic initiatives; the ability to negotiate and finalize definitive agreements related to the LOI; the availability of financing and capital; changes in commodity prices and market conditions; regulatory approvals; infrastructure and power availability; technological, operational and development risks associated with AI data center projects; competitive factors; and other risks described in the Company's public filings available at www.sedarplus.ca.
Forward-looking statements are based on assumptions believed to be reasonable as of the date of this news release. However, there can be no assurance that such statements will prove to be accurate, and actual results may differ materially from those anticipated. Readers are cautioned not to place undue reliance on forward-looking statements. Except as required by applicable securities laws, Jericho undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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 Energy Ventures Inc.