Mr. Brian Williamson reports

JERICHO ENERGY VENTURES UNVEILS INNOVATIVE MODULAR DATA CENTER INITIATIVE, TRANSFORMING NATURAL GAS ASSETS INTO AI POWERHOUSES

Jericho Energy Ventures Inc. has launched its innovative modular data centre venture, utilizing natural gas assets and infrastructure as the foundation for the development of advanced, technology-driven AI (artificial intelligence) computing solutions for the AI era.

Jericho Energy Ventures' management believes the company is ideally positioned to capitalize on the Trump administration's pro-energy and pro-development regulatory landscape by leveraging its strategic partnerships, robust infrastructure, prime acreage in Oklahoma's storied energy corridor and abundant availability of cost-effective natural gas to power data centres.

Jericho's modular data centre business will be overseen from its Tulsa, Okla., regional office, where the company's oil and gas joint venture currently owns and operates approximately 40,000 acres of productive land.

By converting its natural gas into long-term reliable on-site power, Jericho intends to offer secure, modular, latest and next-generation computing infrastructure tailored for AI applications -- enhancing efficiency, reducing waste and strengthening energy resilience.

In conjunction with this initiative, Jericho will renew its focus on maximizing and developing its traditional energy assets to drive significant production growth.

Brian Williamson, chief executive officer of Jericho, stated: "We are taking a page from the playbook of our industry leaders, utilizing our natural gas and infrastructure as a means to fuel modular AI computing solutions. We believe this unlocks a transformative growth opportunity. By aligning our energy resources with the booming demand for modular AI computing infrastructure, we aim to boost revenue and elevate shareholder value through an innovative, sustainable approach."

"In addition to utilizing natural gas assets to power our modular AI centres, we will work with our local utilities and co-operatives to provide redundant cost-effective power solutions to ensure high availability. We also see the pathway where we can leverage our energy transition assets, offering customers a lower-carbon hydrogen fuel solution for their AI compute."

A McKinsey & Company report from Oct. 24, 2024, stated that demand for AI-ready data centres offers many opportunities for companies and investors across the value chain, and projects that global data centre demand could grow 19 to 22 per cent annually from 2023 to 2030, reaching 171 to 219 gigawatts (GW). In a less likely scenario, demand could surge 27 per cent to 298 GW (gigawatts) -- far exceeding today's 60 GW. To prevent a supply shortfall, double the capacity built since 2000 would need to be constructed in under a quarter of the time.

Global investment in U.S. data centres is surging. On Jan. 7, 2025, Dubai-based DAMAC Properties announced plans to invest an initial $20-billion into data centres tailored for AI and cloud computing, with the first phase of the project planned to take place in Oklahoma, Texas, Louisiana, Ohio, Illinois and Indiana.

About Jericho Energy Ventures Inc.

Jericho is an energy company positioned to meet today's energy demand as well as the energy transition; owning, operating and developing both traditional hydrocarbon JV assets and advancing the low-carbon energy transition, with active investments in hydrogen. Jericho 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. Through its wholly owned subsidiary, Hydrogen Technologies, Jericho delivers breakthrough, patented, zero-emission boiler technology to the commercial and industrial heat and steam industry. Etna Solutions Inc., majority owned by Jericho Energy, is developing a patent-pending, high-temperature, low-cost alkaline-based electrolyzer system. The company also holds a strategic investment and board position in California Catalysts (formerly H2U Technologies), a leading developer of advanced materials for electrolysis.

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