Dejour Enterprises Ltd. Dejour Alberta commences winter drilling program
on multiple properties in the Peace River Arch.
Additional land leases acquired.
Two Piceance wells approach completion.
VANCOUVER, BRITISH COLUMBIA, December 12 /CNW/ - Dejour Alberta, wholly
owned by Dejour Enterprises Ltd. (AMEX: DEJ) (TSX-V:DEJ) (FWB:D5R) has
commenced winter drilling activities on multiple properties in the Peace River
Arch. By the weeks' end drilling operations will have commenced at:
1. Wembley, where Dejour has 100% interest in 1280 acres to test two
zones. Total Depth for this well is 6500 feet. Dejour has an interest in a
further 1280 acres adjacent to the land being drilled.
2. La Glace, where Dejour has 100% interest in an oil test targeted at
3. Carson Creek, where Dejour has 100% interest in a multi- zone test for
Dejour is also expecting shortly the issuance of well licences to drill:
1. Cecil, a 90% owned 3500 foot natural gas test on 640 acres, offsetting
2. Boundary Lake, a test on 100% leases totalling 1230 acres.
3. Manning, a 40% owned and non-operated 3600 foot oil test to earn 4480
Dejour is in the process of acquiring an additional 3200 acres of crown
leases to complement the existing 3840 acres at its 30% owned non-operated
Saddle Hills natural gas discovery. A 3D seismic participation survey will be
conducted this winter to best identify the most attractive opportunities for
field extension to the gas zones discovered in the initial well and other
exploratory target formations. Two zones were tested in the discovery well,
the first tested 1mmcf/d gas and the second at better than 750mcf/d gas. A
second well, to test these zones is scheduled for early 2008, with initial tie
in prior to the end of Q1-08.
(One MCF is roughly equivalent to 1mmBTU, which is the quoted gas
contract on the New York Mercantile Exchange (NYMEX). Current price is
approximately US$7.35 per mmBTU).
Early in January, Dejour will begin drilling the 1st of 4 wells
offsetting its now 100% owned Drake field extension discovery, where 2 wells
tested gas last March and are expected to produce at collective rates in
excess of 1500 mcf/d natural gas. The new wells, strategically situated as a
result of a 3D survey interpretation, will target not only the previously
tested Notikewin sands in step out locations but seismically identified
Halfway sands known to produce at rates over 5mmcf/d natural gas in the area.
All 6 wells at Drake are expected to be in pipe by the end of Q1-08, with more
development to follow.
Testing at both the N Barcus #1-12 and #2-12 continues. The upper
Williams Fork, Cossette and Corcoran sands, totalling at least 120' of gross
gas bearing sands in each well, have now been both perforated and successfully
subjected to either five or a six stage fracs, depending on location. Frac
fluid is now flowing back.
The operator has advised the Company that comprehensive flow rate data
for each of the wells should be established by year-end. The operator should
also be able to comment on additional land purchases adjacent to the N Barcus
Creek leases by that time.
Furthermore pipeline access negotiations are underway with multiple
opportunities available. Using newly designed flex coiled pipe, the operator
feels these wells could be on line within Q1-08.
Although completion has been initially slower than originally
anticipated, Dejour is now pleased with the recent progress at N Barcus Creek
and is now involved in strategic meetings to advance the development of the
Piceance properties for the benefit of all partners.
Charles Dove. B.Sc.P.Geoph., is the qualified person for this report.
Dejour Enterprises Ltd. is a micro cap Canadian company creating real
shareholder value through a balance of exploration/development,
production/development 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
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects, are forward-looking statements.
Although Dejour believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may differ
materially from those in the forward-looking statements. Factors that could
cause actual results to differ materially from those in forward-looking
statements include uranium and oil and gas prices, well or production
performance, exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business conditions.
The Company expressly disclaims any obligation to update any forward-looking
statements. We seek safe harbor.
The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this news release.
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: email@example.com
For further information:
For further information: Dejour Enterprises Ltd. Robert L. Hodgkinson,
Chairman & CEO, 604-638-5050 Facsimile: 604-638-5051 Email: