PRESS RELEASE
DEJOUR ENTERPRISES LTD.:
Amex:DEJ/TSX-V: DEJ
FOR
RELEASE:
January
22, 2008
Dejour’s Success
Continues at Drake in Canada’s Peace River Arch
Dejour has now logged its third well at its Drake
Field extension. Log analysis has confirmed > 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
hook up.
The Drake drill rig will immediately move to well
location #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 Dejour 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 > 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.
About Dejour
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.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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