Mr. Brian Williamson reports

JERICHO ENERGY VENTURES PROGRESSES OIL & GAS REVITALIZATION; TAPS NATURAL GAS FOR AI DATA CENTER POWER INITIATIVE

Jericho Energy Ventures Inc. has released encouraging initial results from its oil and gas asset revitalization program at its Oklahoma joint venture properties, led by newly appointed director of operations Jake Royster.

The first asset targeted in the program was the Oaktree wells in central Oklahoma, where 30-day average production as of April 15, 2025, increased by approximately 25 per cent compared with the prior annual daily average, rising to 50.38 bopd (barrels of oil per day) from 40.32 bopd.

Building on this success, Jericho will continue to expand its return-to-production and development strategy, methodically evaluating each asset group. The company is now entering the next phase of its program, focusing on behind-pipe production potential and its inventory of drilled but uncompleted (DUC) wells -- all within its existing asset base and fully integrated infrastructure.

As part of this process, Jericho is also inventorying significant behind-pipe natural gas resources in preparation for powering its infield AI data centres.

The revitalization initiative is also delivering substantial cost-efficiencies, with field operating expenses down 20 per cent in Q1 2025 compared with Q4 2024. Management expects this positive trend to continue through the remainder of the year as additional production optimizations and cost-reduction measures are implemented.

As part of its broader revitalization strategy, Jericho has applied for the Oklahoma tax rebate program for secondary recovery projects, which provides rebates on production taxes paid on secondary recovery projects.

Brian Williamson, chief executive officer of Jericho Energy Ventures, said: "We're very encouraged by the early results of our revitalization program, which reflect both increased production and meaningful cost reductions. With a strong foundation in place, we're now moving aggressively into the next phase of the program, including unlocking behind-pipe potential and leveraging our natural gas assets to power infield data centres -- further aligning our energy strategy with future infrastructure demands."

Jericho's oil and gas JV portfolio is located in the prolific Hunton, Mississippi Lime, Woodford shale and the Anadarko basin Stack Play formations in Oklahoma, where it holds approximately 41,000 net acres, mostly held by production.

About Jericho Energy Ventures Inc.

Jericho Energy Ventures 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, the company is deploying scalable, on-site power solutions to build cutting-edge modular AI data centres. With direct access to abundant, low-cost natural gas, the company delivers efficient, high-performance energy solutions -- reducing waste, maximizing output and unlocking long-term value in the rapidly converging AI and energy markets.

Jericho is also driving the clean hydrogen energy transition. The company's wholly owned subsidiary, Hydrogen Technologies, delivers patented zero-emission boiler and burner systems for commercial and industrial heat and steam applications. The company also holds a significant minority stake and a board position in California Catalysts (formerly H2U Technologies), a leading innovator in electrolysis materials.

At Jericho, the company's mission is clear: to innovate relentlessly, optimize energy resources and power tomorrow's breakthroughs, one bold step at a time.

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