AMEX: "DEJ"/ TSX-V: "DEJ"
VANCOUVER, Aug. 29 /CNW/ - Dejour Enterprises Ltd. (DEJ: TSX-V/Amex: DEJ
and D5R: Frankfurt) is pleased to announce that the N. Barcus Creek No. 1-12
well has been successfully drilled to a total depth of 11,500'. The H & P Rig
No. 159 commenced drill operations on August 16th and over the past 2 weeks
encountered encouraging gas shows. Mud logs indicate both conventional gas
sands above 7800' and targeted basin centred reservoirs of the Mesa Verde
group sands to total depth. Logging is underway and when completed the
Operator has elected to set casing following which the rig will relocate to
the nearby N. Barcus Creek No. 2-12 well to be deepened to a projected TD of
Project partners (Dejour 25%) have contracted Haliburton Energy Services
to commence completion and testing of the No. 1-12 well shortly. The Operator
reports that the multiple indicated natural gas bearing zones located in the
Williams Fork and Isles sections of the Mesa Verde group sands, are very
similar to wells drilled and successfully completed on adjacent Exxon lands by
Williams Cos. Haliburton is one of the most technically advanced completion
experts in this deep basin centred area of Rio Blanco County, north central
Piceance Basin, having recently advised Williams Cos. on the completion of its
new wells offsetting the Dejour and partners N. Barcus Creek acreage. Logging
and completion results are forthcoming.
The Barcus Creek wells are the first wells to be drilled by Dejour and
partners on almost 300,000 acres of land holdings in the Piceance - Uinta
Basins respectively of Western Colorado and Eastern Utah, acquired since July
of 2006. The North Barcus Creek prospect is one of 3 separate land holdings
totalling over 5000 acres within the highly promising 'Rio Blanco Deep'
project area. Logs of a well drilled on this prospect in 1979, prior to the
advent of current completion technology, showed 260 ft. of potential
hydrocarbon bearing sands in the Upper Isles formation of the Mesa Verde
Dejour and its partners initially plan to drill a total of 4 wells at N.
Barcus Creek. It is expected that these lands will be fully developed on 40
acre spacing units. 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.
Recently the Company announced its intent to purchase natural gas
production in Liberty County, Texas.
"This is the perfect time to make new discoveries of large quantities of
natural gas in the Piceance Basin. Not only are natural gas prices set to
bounce off their seasonal low for what we feel could be an extended rise, but
this discovery coincides with the completion of substantial new delivery
infrastructure in the Rio Blanco project area that will facilitate bringing
this gas to market in a timely fashion", states Bob Hodgkinson Dejour's
Chairman & CEO . "We look forward to Dejour and its partners accelerating
their investment/development strategies within these rich natural gas basins".
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 TSX Venture Exchange (DEJ.V), Amex (DEJ),
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: 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: