Dejour Energy Ltd.

Published : June 21st, 2007

Primed for Piceance-Uinta Drilling Program

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Dejour Primed for Piceance-Uinta Drilling Program

 

Vancouver, British Columbia, Canada, June 21, 2007 – Dejour Enterprises Ltd. (“Dejour”) (TSX-V: DEJ, Amex:DEJ, Frankfurt:D5R) Robert L. Hodgkinson, Chairman & CEO is pleased to provide an update on the Company’s exploration & production operations in the Piceance and Uinta Basins of Colorado and Utah:

 

North Barcus Creek - Rio Blanco Project Area

 

Dejour has been informed by its operating partner, Retamco Operating, Inc. (“Retamco”), that all appropriate permits have been secured from the Colorado Bureau of Land Management (BLM) and the Colorado Oil and Gas Conservation Board to drill the first 2 wells at North Barcus Creek.(#1-12N and #2-12N), except for the final approval of the pit liner leak detection system which is expected within the next two weeks.  Drill site preparation should be concluded by August 15/07 at which point drilling operations will commence.

 

The 1,600 acre North Barcus Creek lease block lies directly between a large Exxon lease block directly to the east and a large lease block owned by EnCana to the west. The Exxon lands host four recent natural gas resource discoveries drilled by Williams Cos. immediately offsetting the Company’s North Barcus Creek leases. The EnCana lands are part of a $400 million USD earn-in joint venture ($40,000 USD per acre) by ConocoPhillips where two rigs are continuously drilling. Production from this new development area comes from wells within 5 miles of the aforementioned drill sites.

 

Target depth for the two initial wells is 11,500 feet, sufficient to test over 2,000 feet of the Williams Fork (Mesa Verde) and the Upper Isles formations. Results will guide the pace and scope of future development of natural gas on this lease block.  To enhance operating and cost efficiency, the Company will utilize reverse circulation rigs to the set point of surface casing, at which point a triple rig will drill each well to target depth. The operator is currently in the process of contracting drill rigs, at which point AFE’s (Authorities for Expenditure) will be finalized. New pipeline capacity has recently been installed two miles to the east of this operation to handle production.

 

Successful completion of these two wells will lead to the drilling of the North Barcus Creek #3-12 and #4-12 wells at two additional surface location sites within the project area. Each drill site will be able to ultimately host multiple wells. Initial costs ( AFE’s) are estimated to be $3.8 million USD per well. Dejour retains a 25% interest in these lands and drilling program.

 

Maps, photos and further details can be found http://www.dejour.com/projects-north-barcus-creek.htm

 

 

Roan Creek - West Grand Valley Project Area

 

This project area, offsetting lands owned by Williams Cos. and Occidental Petroleum, is 2 to 3 miles south of new Occidental-operated gas production with easy access and ample pipeline facility. A ‘Notice of Staking’ for 4 initial wells to a depth of 6,500 feet each has been submitted to the BLM with approvals expected by 15 September 2007.

 

Upon analysis of the production profiles of these wells, this 1,600 acre lease block could ultimately host between 20 and 80 wells (40-10 acre spacing units). AFE’s through completion should approximate $2 million USD per well. Dejour also retains a 25% interest in these lands and drill program.

 

Maps, photos and further details can be found at http://www.dejour.com/projects-roan-creek.htm

 

 

Tri-County Project Area

 

To capitalize on past exploratory activity in the Tri-County area, preparations are underway to re-enter between 1 and 4 wells drilled and cased to 5,000 feet by earlier operators and currently maintained in operable condition. Rigs will now drill to 9,500 feet to intercept the prospective conventional Dakota, Entrada and Wingate sands believed to be present at these locations. These are the same zones that comprise the existing source of production and proven reserves in the San Arroyo field 5 miles to the south.

 

AFE’s for the deepening and testing of these wells is expected to be $500k-1mm USD per well. Dejour retains a 25% interest in these leases and drill programs.

 

Maps and further details can be found at http://www.dejour.com/projects-tri-county.htm

 

 

Plateau Project Area

 

Dejour and its partners currently maintain a 50/50 joint venture with EnCana USA in this 1,300 acre lease block which offsets Dakota production that initially flowed over 4 million cubic feet per day from a single well. The partnership intends to notify EnCana of its plan to drill one Dakota well to a depth of 7,500 feet.

 

Successful Dakota production in this area should facilitate further development with 160 acre spacing units. AFE’s should approximate $2 million USD per well. Dejour retains a 12.5% interest in this lease block and drill program by virtue of the EnCana involvement.

 

Maps and further details can be found at http://www.dejour.com/projects-plateau.htm

 

 

CBM Project Potential

 

Trending throughout numerous of the 21 project areas comprised of the 290,000 gross acres of leases held in part by Dejour (25%) are substantial deposits of Cameo coals hosting the potential for economically viable CBM projects. Dejour and partners have retained Dr. Chris Cornelius, a specialist in CBM resource development, to complete a study on the CBM potential of Company leases. Dr. Cornelius, who has headed several projects for Evergreen Resources (now Pioneer NG), a leader in development of CBM in the Piceance Basin, has targeted an initial assessment report by the end of August 2007.

 

R. Marc Bustin, Ph.D., P. Geol., FRSC, is the qualified person for Dejour’s oil and gas projects.

 

 

 

About Dejour

 

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 returns.

 

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 at investor@dejour.com 

 

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.

 

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: investor@dejour.com 


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ISIN : CA24486R1038
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Contact Cpy

Dejour Energy is a and oil exploration company based in Canada.

Dejour Energy holds various exploration projects in Canada.

Its main asset in production is WOODRUSH in Canada and its main exploration properties are R-SEVEN, SAND HILL, PEACE RIVER ARCH, MEANWELL and FLEMING in Canada.

Dejour Energy is listed in Canada, in Germany, in United Kingdom and in United States of America. Its market capitalisation is CA$ 17.9 millions as of today (US$ 13.7 millions, € 11.0 millions).

Its stock quote reached its highest recent level on December 31, 2007 at CA$ 2.76, and its lowest recent point on October 10, 2008 at CA$ 0.33.

Dejour Energy has 36 509 953 shares outstanding.

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Corporate Presentations of Dejour Energy Ltd.
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In the News and Medias of Dejour Energy Ltd.
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3/26/2008Appoints Harrison F. Blacker to Head US Oil & Gas Operations...
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Corporate news of Dejour Energy Ltd.
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2/19/2013Operations Update Q1 2013
1/28/2013David Matheson Appointed CFO=2C Dejour Energy Inc.
11/7/2012Reports Q3 2012 Revenue of $1.55 Million
9/25/2012Successfully Drills Initial Kokopelli Well to 8440=E2??
9/4/2012Moves Drill Rig to Kokopelli Leasehold
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5/22/2012(Woodrush)on Woodrush Waterflood
5/15/2012Reports Q1 2012 Revenue of $1.93 Million
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7/13/2011Noverra Research Analysts Initiate Independent Coverage of D...
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5/4/2011(Woodrush)Increases Woodrush Landholdings
3/31/2011Highlights 2010 Year End Results
3/24/2011Becomes Dejour Energy Inc.
8/16/2010Announces $559K Operating Cash Flow for Q2 2010
8/10/2010Announces July 2010 Woodrush Production
10/14/2009Closes First Tranche of 2009 FT Financing with MineralFields
10/1/2009Announces Analyst Coverage and Report by Zacks Investment Re...
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6/26/2009Retains Key Strategist / Balances Board of Directors
3/3/2009Provides Piceance Operations Update
2/9/2009Extends Leadership Expertise with New Director
1/6/2009Chairman's Message
12/17/2008Expects 2008 Production Exit At 1000 Boe Daily
11/19/2008To Trade on TSX November 20, 2008
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11/11/2008To Present at Rodman & Renshaw Conference in NYC, Tuesday No...
11/3/2008To Present At Two Leading Energy Conferences
10/2/2008To Present at IPAA Oil and Gas Investment Symposium
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9/18/2008ADDS TWO NEW WELLS AT WOODRUSH PROJECT
9/4/2008Announces Management Changes
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6/20/2008Successful in NE British Columbia Montney Land Sale Purchase
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12/13/2007 Updates Peace River Arch/ Piceance Drilling and Completion ...
12/6/2007 Webcast Alert
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8/29/2007Confirms its First Piceance Basin Natural Gas Discovery.
8/10/2007 Market Opportunity
8/9/2007Updates Piceance Barcus Creek Drilling Program
7/25/2007Expands E&P Activity in Canada's Peace River Arch
7/13/2007Updated Valuation Report by Khandaker Partners
7/5/2007Revisits Tinsley
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5/18/2007Lists on the American Stock Exchange - Trading Symbol “DEJ”
5/3/2007Second Natural Gas Discovery for Dejour in Peace River Arch
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