Mr. Allen Wilson reports

JERICHO ENERGY VENTURES ARRANGES INSIDER-LED PRIVATE PLACEMENT FINANCING

Jericho Energy Ventures Inc. intends to complete a non-brokered private placement, led by insiders and existing shareholders of the company, of up to 10 million units of the company at a price of 20 cents per unit for gross proceeds of up to $2-million. The units will consist of one common share and one warrant, whereby each warrant will entitle the holder to purchase one share at a price of 24 cents per share for a period of two years.

Closing of the financing is subject to TSX Venture Exchange approval. The securities issued under the financing will be subject to a four-month hold period under applicable securities laws in Canada and the rules of the exchange. The financing is expected to close immediately following conditional approval of the exchange, subject to customary closing conditions, including the final approval of the exchange. A finder's fee or broker's commission may be paid in connection with a portion of the financing.

Participation by insiders of the company in the financing will constitute a related-party transaction as defined in Multilateral Instrument 61-101 (Protection of Minority Security Holders in Special Transactions). The company intends to rely on exemptions from the formal valuation and minority approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that neither the fair market value of the securities to be issued under the financing, nor the consideration to be paid by insiders of the company will exceed 25 per cent of the company's market capitalization.

Net proceeds from the financing will be used for general working capital purposes.

About Jericho Energy Ventures Inc.

Jericho is an energy company positioned for the current energy transitions, owning, operating and developing both traditional hydrocarbon joint venture assets and advancing the low-carbon energy transition, with active investments in hydrogen. Its wholly owned subsidiary, Hydrogen Technologies, delivers breakthrough, patented, zero-emission boiler technology to the commercial and industrial heat and steam industry. It also holds strategic investments and board positions in H2U Technologies (a breakthrough electrocatalyst and low-cost electrolyzer platform) and Supercritical Solutions (developing the world's first, high-pressure, ultraefficient electrolyzer). Jericho also owns and operates long-held producing oil and gas JV assets in Oklahoma, which it is currently developing from cash flows in an effort to further increase production.

We seek Safe Harbor.