PRESS
RELEASE
DEJOUR ENTERPRISES
LTD.:
Amex: DEJ / TSX-V: DEJ
FOR
RELEASE:
February 12, 2008
Dejour Sees Leverage in
Titan Uranium - Japan
Oil, Gas and Mining (JOGMEC) Joint Venture
Robert L. Hodgkinson,
Chairman & CEO, is very pleased to announce that an associated company,
Titan Uranium Inc. (TSX-V:TUE), has signed a letter of intent to joint venture a
significant Athabasca Basin uranium exploration project with Japan Oil, Gas and
Metals National Corporation (JOGMEC), a $7-billion international mining and
oil-and-gas company with the mission to secure a stable supply of oil, natural
gas and minerals for Japan. JOGMEC, under this option, has the opportunity to
earn 50% of the 400,000-acre Virgin Trend Project, which is controlled by
Titan, by spending $9 million in exploration over three years.
Dejour owns 33.5% of
the issued capital of Titan and, notably, retains a 10% carried
interest and 1% NSR in almost one million acres of prospective uranium
properties in Canada’s Athabasca Basin now owned by Titan, including the
subject property of this joint venture, one of 13 projects acquired from Dejour by Titan early in 2007.
This is the third such externally funded joint venture
that Titan has concluded in the past 12 months, where Titan is the generator..
Two of these joint ventures cover project areas on which Dejour
retains both carried and royalty interests as previously noted. This provides Dejour with dual upside leverage from a uranium discovery
on any of these properties, absent capital expenditure. It also provides a
guide as to a minimum imputed value attributable to each of these carried
interests.
Dejour
is very pleased with the reputation Titan is building as a generator of prime
Canadian uranium properties worthy of exploration by sophisticated
international mining companies. Dejour encourages a
continuation of this method of property exploitation, particularly through this
time of consolidating values in the uranium exploration sector. For details of
Titan’s press release, please visit www.titanuranium.com.
About Dejour
Dejour
Enterprises Ltd. is a micro cap energy company creating real shareholder value
through a balance of discovery, development and monetization of strategic North
American energy properties. The Company recently announced > 10 million
cubic per day natural gas production to begin shortly on part of its 44,000
gross acres of oil and gas landholdings in Canada’s
Peace River Arch. Additionally the Company expects to begin gas production in
Q2-08 from part of its 300,000 gross acres of natural gas land holdings in Colorado’s Piceance Basin.
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.
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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