Amex: DEJ / TSX-V: DEJ
DENVER, June 24 /CNW/ - Dejour Enterprises Ltd., (Amex: DEJ, TSX-V: DEJ)
an oil and natural gas exploration and production company, announced today it
has signed a joint operating agreement with Fidelity Exploration & Production
Company covering 14,000 acres of long term, highly prospective oil and gas
leases in the Northern Paradox Basin located in South-eastern Utah. Fidelity,
a subsidiary of MDU Resources Group Inc., (NYSE: MDU), operates over 3400
wells in North America. Its parent company reported annual revenues of over
USD $4 billion in 2007 according to its latest annual report.
Industry awareness of the Paradox Basin has been developing since Delta
Petroleum announced in December 2007 its Greentown project discovery,
resulting in the development of a new pipeline and other infrastructure in
"We are extremely pleased with the opportunity this joint venture brings
to Dejour. Fidelity is a highly qualified, experienced operator in the Rocky
Mountains with a keen interest in this emerging resource play. We expect they
will provide Dejour with valuable experience and efficient operating
capability in an area where we both believe a significant natural gas
discovery has been made but has yet to be fully delineated," states Harrison
Blacker, President of Dejour USA.
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. Investors are
cautioned that forward-looking statements are inherently uncertain and involve
risks and uncertainties that could cause actual results to differ materially,
including comments regarding the expectation that the offering will be
completed consistent with the terms outlined above and use of proceeds from
this transaction. Actual results may differ materially from those presented.
Factors that could cause results to differ materially include fluctuations in
oil, gas and uranium prices, changes in U.S. and Canadian securities markets
and failure to receive regulatory approvals. 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. Please refer to
the discussion of risk factors in our Form 20-F for 2006, as amended.
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: