DEJOUR ENTERPRISES LTD.: Amex: DEJ/TSX-V: DEJ
VANCOUVER, Jan. 22 /CNW/ - Dejour has now logged its third well at its
Drake Field extension. Log analysis has confirmed (greater than) 6 meters of
natural gas bearing Notekewin sands with porosities as high as 24%. Dejour has
a 100% working interest (WI) in this Drake Field extension project. Once pipe
has been set, Dejour will establish flow rates and prepare for completion and
The Drake drill rig will immediately move to well location No.4, which
has been cleared. This well will test not only the Notekewin sands present in
the first three wells, but also deeper zones including the Halfway, which show
potential on the interpretation of the 3D seismic coverage purchased over the
Dejour working interest lands. The Halfway zone in an adjacent well of recent
vintage initially produced flow rates of 3.7mmcf/d rising to over 5mmcf/d
(million cubic feet per day) natural gas, according to government documents
registered on Accumap.
Reservoir engineering calculations on these properties will be
forthcoming prior to the end of February. Further development will follow.
To date in the Peace River Arch, Dejour has drilled five successful
wells, now being prepared for production, five additional exploration wells
now in the process of being tested for commerciality and have five more wells
to drill (four offsetting discoveries), test and hook up prior to break up,
expected by the end of March.
This latest logged well positions Dejour to continue the targeted
production rates of (greater than) 10mmcfe (million cubic feet of gas
equivalent)/per day natural gas to its WI interest from these operations by
the end of Q1-08.
BOEs (or 'McfEs' or other applicable units of equivalency) may be
misleading, particularly if used in isolation. A BOE conversion ratio of 6
Mcf: 1 bbl (or 'An McfGE conversion ratio of 1 bbl: 6 Mcf') is based on an
energy equivalency conversion method primarily applicable at the burner tip
and does not represent a value equivalency at the wellhead.
Charles Dove, 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), 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: