05:07 PM EDT, 04/17/2024 (MT Newswires) -- Jericho Energy Ventures ( JROOF ) on Wednesday said it is considering a spin out of its hydrogen assets into a separate company.

The company did not detail its hydrogen assets and added there is no guarantee "regarding the terms, timing or completion of this process".

"Should this process come to fruition, we believe existing JEV shareholders stand to benefit from the growth prospects of owning both pure-play H2 and Oil & Gas enterprises, with each focused on maximizing value and becoming a leader within its sector," chief executive Brian Williamson said in a release.

Jericho shares closed down C$0.01 to C$0.19 on the TSX Venture Exchange.