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Press Release - Dejour Enterprises Ltd. (DEJ-AMEX, DEJ-TSX-V)

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“In 2008, we have decided it is the time for us to take control of what we were doing and since we had built the team based out of our Denver office, which was just opened, we did a deal with a private owned company, Retamco, and we purchased from them the remaining 65% in the interest roughly 60,000 net acres. We now control 120,000 acres where we operate. We have 72% interest there and we retain a 25% interest in about 170,000 acres. 15,000 of those now are the subject of the joint venture in the Greentown area...” - Robert L. Hodgkinson (DEJ) (Interview published July 11, 2008)

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Dejour Grows 'Montney' Block - Targets Royalty Free Oil

Monday August 18, 12:28 pm ET
CALGARY, Alberta--(BUSINESS WIRE)--Dejour Enterprises Ltd. announces it has secured 3792 additional net acres in the emerging 'Montney' natural gas trend in NE British Columbia at the 13-08-08 government oil and gas drilling rights auction.
 
“This increases our land holdings to 6352 contiguous acres (2541 ha.) at a total cost of CDN $902,000. Participation in this 'Montney' natural gas resource trend adds to the strategic exploration and development growth plan for Dejour. The addition, at a much lower cost than some recent high profile deals, provides the Company a significant additional growth opportunity to compliment its recent success in the Peace River Arch,” states Charles Dove, President, Dejour Energy (Alberta).

These lands have the additional benefit of being adjacent to necessary appropriate pipeline infrastructure, dramatically underwriting the future costs of bringing any reserves to market.

Initial drilling of these lands is anticipated in winter 2009-10.

Production Update

Dejour is in the final stages of initiating oil production from its 100% owned new pool discovery at Woodrush (part of the Drake area lands) in NE BC. All weather access and tanks have been supplied, with final electrical work being to be completed in Q3/08. The discovery well, into the 'Halfway' zone, encountered virgin pressures testing over 600 barrels of oil per day. The BC Government has established an initial restricted flow rate of 180 barrels per day from this well pending establishment of reservoir dynamics of the discovery, at which time allowable flow rates are expected to be increased. Dejour plans a minimum of two offset wells into this pool in Q4-08/Q1-09.

The Company has applied for and anticipates receiving, a three year royalty free holiday from the BC Government associated with production from this new pool discovery well.

Dejour is on target to tie-in five natural gas/oil wells in Drake, Carson Creek and Saddle Hills (with Zargon) in Q3/08, bringing the total to nine production wells established in 2008.

The Company plans to drill 8 additional wells offsetting these discoveries during the coming winter drill season.

Charles Dove, P. Geoph. is the qualified person for this release.

For more detailed information, the Company's website has been recently updated at www.dejour.com.

About Dejour

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 at investor@dejour.com

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.


Contact:

Dejour Enterprises Ltd.
Robert L. Hodgkinson
Phone: 604-638-5050
Facsimile: 604-638-5051
Chairman & CEO
investor@dejour.com

Source: Dejour Enterprises Ltd.




    

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