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Good morning,

JROOF is trading very well this morning, up 6% as it broke through the key $1 level early on. 

The volume is strong and momentum is in, we think JROOF could continue to push higher, especially if shorts start to cover their positions.

This is an exciting trade to be a part of today, so make sure you keep your eye on this all day and look for opportunities. 

If you haven't read our report on JROOF, do so now below.

All the best.

SmallCapMomo.com


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Traders and Investors,

Today we've got a major breakout trade lined up in Jericho Oil Corp (JROOF).

As you can see in the chart below, JROOF has been on fire, with no signs on slowing down yet as a major burst of volume has come in over the past week. 

JROOF closed yesterday at around $0.94, and $1 is certain to be a magnet. If it can break through this level, we could see a major momentum push higher, and potentially a short squeeze. 

This is breakout momentum at its best! 





JROOF is an oil producer with some amazing asset growth, This is a company that has been able to purchase STACK assets. They now own over 70,000 acres across Oklahoma, they are completing their first two wells.

STACK stands for Sooner Trend Anadarko Canadian and Kingfisher (the counties involved). STACK is located in the Anadarko Basin in Oklahoma, which has three stacked formations-the Meramec, Osage and Woodford. Total about 900 feet thick. That is a lot of oil...

You need to read this report to get the full picture.

Jericho Oil (JROOF) 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.

You can learn more about JROOF at http://jroofreport.com/
 

Today JROOF announced that through its Oklahoma STACK Joint Venture (“STACK JV”), it has brought online a high-rate single-mile lateral Meramec oil well within its contiguous Blaine County acreage position.

The Wardroom 19-13-12 1H well in SEC 12 T19N R13W is located within Jericho’s approximately 11,600 net acre position of the normally-pressured oil window of the STACK play.  The Wardroom achieved a peak 24-hour rate of 957 oil-equivalent barrels (“BOE”) per day (68% oil) at 211 Boepd per 1,000 ft.  The projected 30-day normalized rate (IP30) for this 4,518 ft perforated lateral well is 770 BOE per day (67% oil).  Oil productivity from the Wardroom is amongst the highest of any well to-date targeting the Meramec formation in the northern STACK on a per 1,000 lateral foot basis.    

Jericho’s STACK JV owns a 47% working interest alongside Staghorn Petroleum II LLC (Staghorn) in the Wardroom.  Current ultimate recovery projections place the potential rate of return at greater than 75% (assuming $60bbl / $3mcf).

Well productivity from the Wardroom illustrates the significant role lateral placement coupled with advances in stimulation technique has in developing the resource potential of the Meramec shale deposits of the northern STACK.  The Wardroom was drilled 95% within our defined target section.  Shane Matson, Director of Geology for Jericho Oil, stated, “having performed a bottoms-up analysis of 20 proximate Meramec formation wells, it became clear that lateral placement had been a defining variable in the productivity of this formation in the northern STACK.”  
Stack operators of wells targeting the Meramec shale in 2017 proximal to the Wardroom have announced comparable results confirming the productive potential of the region. Two miles east of the Wardroom, Staghorn’s well (Crow’s Nest 19-12-08 1H) in SEC 8 T19N R12W, achieved a peak 24-hour rate of 1,180 boepd (76% oil), at 240 boepd per 1,000 ft.  Moreover, three miles north of the Wardroom, Chesapeake Energy’s well (Bravo 28-20-12 1HC) in SEC28 T20N 12W achieved a peak 24-hour rate of 2,221 boepd (79% oil), at 223 boepd per 1,000 ft.

Brian Williamson, CEO of Jericho Oil, stated: “Our focus in participating with best in class operators is working and we are extremely encouraged with the results of the Wardroom and surrounding Meramec wells, proving the extent, both geographically and geologically, of the formation.  In addition to the Meramec, we will also work on delineating the resource potential of the regionally deposited Osage formation.  Given the depth of our teams’ history with this rock-type, we are confident in its horizontal resource potential.  We are currently drilling an Osage test well within our northern JV located just north of Alta Mesa’s expansive acreage position and we look forward to updating our shareholders with encouraging results.”

The Company’s 2018 development program, leveraging its recent findings and successes, will focus on the continued delineation of its acreage footprint for both the Meramec and Osage formations and adding tuck in acquisitions that complement our STACK acreage footprint.

You can read more recent press releases at https://finance.yahoo.com/quote/JROOF/press-releases?p=JROOF

For more information on JROOF, visit their website at http://www.jerichooil.com/


Our Conclusion...

You need to get JROOF on your screen immediately. 

This breakout chart won't hang around waiting for you, so you'll need to be alert come the opening bell tomorrow. We think a push towards $1 is very much possible, and a breakout through this level could deliver some major gains.

The volume and liquidity is great right now, and the level 2 looks good. 

JROOF is a trading machine you don't want to miss, and with the recent positive press, momentum is on its side.

Do you research now and be ready for the opening bell.

All the best.

SmallCapMomo.com

Remember our key trading rules when trading. Capital preservation is key. Keep your stops tight, and if things don't go your way, cut your losses and look for another opportunity.