Call 800 665 0411 to learn about our services for your stock

Search   Follow Investorideas on Twitter   Investorideas is on Facebook   Investorideas is on Youtube   Investorideas is on Pinterest  Investorideas is on stocktwits   Investorideas is on tumblr   Investorideas is on LinkedIn   Investorideas Instagram   Investorideas Telegram   Investorideas Gettr   Investorideas RSS

Share on StockTwits

Canadian Hydrogen and Energy Co. Well Positioned To Scale

Source: Nicholas Cortellucci


November 28, 2023 ( Newswire) Recent financial results for Jericho Energy Ventures Inc. were aligned with expectations, noted an Atrium Research report.

Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTC; JLM:FSE) reported Q3 results in line with expectations, noted Atritum Research analystss Nicholas Cortellucci and Ben Pirie in a November 23 report. The company's oil and gas joint venture (JV) posted positive EBITDA based on higher commodity prices.

According to the analystss, this shows Jericho can shift capital from the low multiple oil and gas production business to fund the growth of its high multiple hydrogen technologies division.

In Q3, the JV produced 389 barrels of oil equivalent per day, with 173 attributable to Jericho. It realized strong oil, gas, and natural gas liquids pricing, though revenue declined year-over-year.

JEV ended Q3 with US$0.5 million in cash and US$3.6 million in debt. The analysts see the company's cash flow potential strengthening in 2024 as the JV plans new drilling and benefits from higher oil prices.

On the hydrogen side, the company continues to make advancements through its Hydrogen Technologies unit and minority investments. The analysts expect initial commercial orders in 2023 and potentially larger contracts in 2024 as the hydrogen industry develops.

With progress across both the traditional energy and clean hydrogen businesses, the analysts see Jericho Energy as well positioned to scale and maintain a Buy rating and CA$0.50 price target.

More Info: Newswire

This news is published on the Newswire - a global digital news source for investors and business leaders

Disclaimer/Disclosure: is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Contact management and IR of each company directly regarding specific questions.

More disclaimer info: Learn more about publishing your news release and our other news services on the newswire

Global investors must adhere to regulations of each country. Please read privacy policy:

That's all it takes to get an article published on Investor Ideas - Learn More

Get more Oil and Gas - news, articles, and stock directories

Buy a energy guest post on