Amex: DEJ / TSX-V: DEJ
CALGARY, July 21 /CNW/ - Dejour Enterprises Ltd. announces it has been
successful in acquiring additional lands in the emerging 'Montney' natural gas
resource play in this part of NE British Columbia at a recent government O&G
drilling rights auction.
"Adding to our initial land acquisition over this play is part of a
strategic growth plan for Dejour in the Peace River Arch area. This sets
Dejour on a track for significant new resource growth through the drill bit
for years to come," says Charles Dove, President, Dejour Alberta.
"With the recent Shell Canada announcement to purchase Duvernay Oil Corp.
for $5.9 billion, notably for its significant 'Montney' natural gas resource
exposure, our ongoing land acquisition program in NE BC positions Dejour well
for continued value added resource growth for at least the next 24-36 months.
I am very pleased that the Company has been successful in its continuing land
acquisition program at very attractive prices, particularly during this period
of property value escalation," states Robert L. Hodgkinson, Dejour's Chairman
According to Andrew Bradford, Oil & Gas Analyst, Raymond James (February
11/2008, "Canadian Energy Sector") the 'Montney' resource in this region is
potentially one of the largest economically viable unconventional plays in
Dejour Enterprises Ltd. is a micro cap Canadian company creating
shareholder value through a balance of exploration, development, production
and monetization of strategic North American energy properties including oil,
natural gas and uranium.
The Company is listed on the Amex (DEJ), TSX Venture Exchange (DEJ.V),
and Frankfurt (D5R). Dejour is a reporting issuer to the SEC. Refer to
www.dejour.com for company details or contact the Office of Investor Relations
Statements Regarding Forward-Looking Information: Some statements
contained in this news release are forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995 and Canadian
securities legislation including information respecting the reserves, expected
future production levels, future prices, royalties, work plans, and
anticipated total oil recovery. Investors are cautioned that forward-looking
statements are inherently uncertain and involve risks and uncertainties that
could cause actual results to differ materially. Statements containing
forward-looking information express, as at the date of this news release, the
Company's plans, estimates, forecasts, projections, expectations, or beliefs
as to future events or results and are believed to be reasonable based on
information currently available to the Company. Exploration for oil and
natural gas is a speculative business that involves a high degree of risk.
There is no assurance that estimated values of reserves will be realized. The
Company's expectations for its operations are subject to a number of risks in
addition to those inherent in oil production operations, including: that oil
prices could fall resulting in reduced returns and a change in the economics
of the project; delays associated with equipment procurement, equipment
failure and the lack of suitably qualified personnel; the inherent uncertainty
in estimation of reserves; changes in the political or economic environment
and failure to receive regulatory approvals. Production and NPV estimates are
based on a number of assumptions including availability of the necessary
equipment, personnel and financial resources to sustain the Company's planned
work program; no material adverse changes in the applicable royalty regime,
the absence of unplanned disruptions; the ability of the Company to
successfully bring production to market; and general risks inherent in oil and
gas operations. Dejour assumes no obligation to update this information. There
can be no assurance that future developments affecting the Company will be
those anticipated by management. Forward-looking statements and information
are subject to a number of other risks and uncertainties described under "Risk
Factors" in the Company's Annual Information Form, Annual Report on Form 20-F
filed with the US Securities and Exchange Commission and Management's
Discussion and Analysis.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
For further information:
For further information: Robert L. Hodgkinson, Chairman & CEO, DEJOUR
ENTERPRISES LTD., Suite 1100-808, West Hastings Street, Vancouver, BC, Canada,
V6C 2X4, Phone: (604) 638-5050, Facsimile: (604) 638-5051, Email: