VANCOUVER, BRITISH COLUMBIA, September 25 /CNW/ - Dejour Enterprises Ltd.
(AMEX: DEJ) (TSX VENTURE:DEJ) (FWB:D5R) is pleased to report that the N. Barcus
Creek #2-12 well contains an estimated 254 feet of potential net pay. Casing
has now been set to total depth. This result correlates positively with the
263 feet of potential net pay recently reported in the adjacent N. Barcus
Creek #1-12 well. Dejour's owns 25% working interest in each of the #1-12 and
Dejour engaged Gustavson Associates, Boulder Co. (Geologists -- Engineers
-- Appraisers) to conduct a preliminary petrophysical analysis of the #2-12
well logs and it is their interpretation that the reservoirs in the N. Barcus
Creek #2-12 and #1-12 are similar. Throughout drill operations the mud logs
for each of the #2-12 and #1-12 wells showed strong evidence of reservoir gas.
Both wells were keyed off the Federal #22-12 well drilled by Pacific
Transmission Supply Co. in 1979, which reported 260' of possible gas pay.
Completion work on the N. Barcus Creek #1-12 well has commenced. Results
should be available within the next 10 days. Completion of the #2-12 will
Dejour and its partners have been advised by the operator that it plans
to drill additional wells on this 1,590 acre N. Barcus Creek prospect, which
forms part of the highly promising Rio Blanco Project consisting of a total of
5,554 acres. Dejour holds a 25% unpromoted interest in these lands and all
actual exploration expenditures. The operator reports that the cost of
drilling the #2-12 and #1-12 wells has been less than the original budgeted
This N. Barcus Creek lease block lies directly between a large Exxon
lease block directly to the east and a large lease block owned by EnCana to
the west. The Exxon lands host four recent natural gas resource discoveries
drilled by Williams Cos. immediately offsetting the Company's leases. Exxon
previously announced its intention to drill 1000 wells on its leases in that
area. Recently, Conoco announced its intention to commence drilling the first
of 800 wells on the EnCana lands, which are now subject to a Conoco joint
venture, early in 2008.
The N. Barcus Creek prospect has the potential to initially drill up to
40 wells based on 40 acre spacing units with further down-spacing to 10 acre
units in the future. Accessible pipeline facilities lay within one mile of the
This 'Rio Blanco Deep' project is one of over 60 separate exploration
projects held by Dejour (average interest over 25%) in its search for and
exposure to significant energy discovery in the hydrocarbon bearing basins of
Piceance/Uinta in Colorado/Utah and the Peace River Arch of NE British
Columbia/NW Alberta Canada, inclusive of the uranium bearing Athabasca/Thelon
Basins of Northern Canada through its holdings of Titan Uranium (TSX-V: TUE)
and associated carried/royalty interests.
R. Marc Bustin, Ph.D., P.Geol. FRSC is the qualified person for this news
Dejour Enterprises Ltd. is a micro cap Canadian company focused on oil &
gas exploration and production with a significant investment in uranium
discovery. The company acquires high-impact energy assets and strategically
monetizes them to enhance shareholder returns.
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.
For further information:
For further information: Dejour Enterprises Ltd. Robert L. Hodgkinson,
Chairman & CEO, 604-638-5050 Facsimile: 604-638-5051 email@example.com