Amex: "DEJ"/ TSX-V: "DEJ"
VANCOUVER, Aug. 8 /CNW/ - Dejour Enterprises Ltd. (DEJ: TSX-V/Amex: DEJ
and D5R: Frankfurt) is pleased to announce Phase One of the drilling on the
first of 2 well locations on the North Barcus Creek Prospect by Dejour and its
partners has been completed. This deep basin centered natural gas prospect is
located in the north-central part of the Piceance Basin of Western Colorado in
Rio Blanco County.
Lang Exploratory Drilling has drilled to 3200 ft. and cased the surface
hole for the No. 2-12 North Barcus Creek well (Refer to
http://dejour.com/projects-north-barcus-creek.htm). That rig has been moved to
No. 1-12 North Barcus Creek well and is currently drilling ahead at 1520 ft.
The drilling program for these wells is a two stage process. Phase Two of the
drilling program has commenced with the rigging up of HP Rig No. 159 to deepen
the No. 2-12 well to a total depth of 11,500 ft. Once the No. 2-12 has been
drilled to total depth, this rig will be moved to complete the same operation
at the No. 1-12 location. Combined drilling and testing time for these first
two wells is estimated to be 100 days.
These two wells are the first wells to be drilled by Dejour and its
partners on over 290,000 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, covering 1590 acres, is one of 3
separate land holdings totalling over 5000 acres within the highly promising
'Rio Blanco Deep' project area of the Piceance Basin. Logs of a well, drilled
on this prospect in 1979 showed 260 ft. of potential hydrocarbon bearing sands
in the Upper Isles formation of the Mesa Verde group.
Dejour and its partners initially plan to drill a total of 4 separate
locations at North Barcus Creek. It is expected that these lands will be fully
developed on maximum 40 acre spacing units. Accessible pipeline facilities lay
within one mile of the lease boundaries.
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 to the uranium bearing Athabasca/Thelon
Basins of Northern Canada through its holdings of Titan Uranium (TSX-V: TUE).
For the first time in the company's recent history, drilling is active in
each of these three high potential areas.
Dejour Enterprises Ltd. is a micro cap Canadian company focused on oil &
gas exploration with a significant indirect investment in uranium discovery.
The company acquires high-impact energy assets and strategically monetizes
them through partnerships and co-ventures to limit exposure and enhance
Dejour has significant holdings in three of the world's premiere energy
resource regions. This includes 290,000 gross (60,000 net) acres in the
Piceance and Uinta Basins, a vast natural gas play in North America; and a
major interest in Titan Uranium, Inc. (TSX-V: TUE), with 1.44 million acres in
the Athabasca and Thelon Basins, the world's most recognized areas for uranium
exploration. Finally, the company is pursuing high impact natural gas
opportunities in Canada's Western Sedimentary Basin, known as the Peace River
Arch Projects, comprised of 39,000 gross acres. The Company is listed on the
TSX Venture Exchange (DEJ), AMEX (DEJ), and Frankfurt (D5R). Refer to
www.dejour.com for company details or contact the Office of Investor Relations
Statements in this release that are forward-looking statements are
subject to various risks and uncertainties concerning the specific factors
disclosed under the heading "Risk Factors" and elsewhere in the Corporations'
periodic filings with Canadian securities regulators. Such information
contained herein represents management's best judgment as of the date hereof
based on information currently available. The corporation does not assume the
obligation to update any forward-looking statement.
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: