PRESS RELEASE
DEJOUR ENTERPRISES LTD.:
Amex:DEJ/TSX-V: DEJ
FOR
RELEASE:
January 8, 2008
Dejour
Reports on Piceance Testing and Cases 3 New Peace River Wells
Vancouver, BC, Canada January 8, 2008 – Dejour Enterprises Ltd. (“Dejour”)
(Amex: DEJ/TSX-V: DEJ)
Robert L. Hodgkinson,
Chairman & CEO, is pleased to announce 3 new wells in the Peace River
Arch. These new wells are part of the 2008 exploration program which was
previously stated in the 12.12.07 press release. In addition, Dejour would like to provide an update on the testing and
completion of the Barcus #1-12, and #2-12 in the Piceance
Basin.
Piceance/
Uinta Basin, USA
Testing and completion operations continue at the
North Barcus Creek prospect. The production tubing is
now being set at both the NBC #1-12 and #2-12, following respective five and
six stage fracture stimulation operations of the upper Cossette,
Corcoran and Williams Fork sand intervals. To date, from these zones, the wells
have been flowing back a combination of frac fluids,
natural gas and gas condensate through the well bore. Over 50% of the expected
retrievable frac fluid has now been reclaimed.
Major Colorado snowstorms and difficult weather conditions over the past 3
weeks have impacted the expected pace of the completion of these wells.
Definitive production testing is now underway. Plans
are also proceeding to add compression and lay flow lines approximately two
miles to regional gathering lines on the adjacent Exxon leases. Flow line
‘right of ways’ are already in place. The operator is targeting the
commencement of production by the end of Q1-08.
Dejour
is now pursuing avenues to expand its timely exposure to natural gas discovery
in the Piceance
Basin.
Peace River Arch, Canada
Exploration
During the winter drilling season 07/08 Dejour has been successfully executing on its exploration
and development plan. To date the company has drilled and set production casing
in three new exploration wells in which Dejour holds
an average 90% working interest. Testing of these wells will commence in early
February.
Additionally, as planned, drilling of a further two
new exploration wells is in progress. Results of this winter’s
exploration drilling program will be analyzed in preparation for further
development and land acquisition.
Seismic programs over two additional exploration
acreages at Alderson (3D) and Kaybob (2D) have now
been recorded and are in the process of being interpreted.
The above activities provide Dejour
with the comfort that all its flow through fund obligations for 2007 have been
successfully fulfilled.
Development
At its Drake Field extension discoveries, Dejour has now received the requisite permits and licenses
for the drilling of two new wells and is proceeding with construction of these
two well sites.
The planned activity for this area includes:
1.
The drilling
of a total of four wells to test the Notekewin,
Halfway, and other zones of potential sands around its now 100% owned
discoveries of March/April 2007, and
1. The
laying of necessary pipelines to bring these discoveries and ensuing
development into production during the current operating season.
At its 30% owned Saddle Hills discovery (March 2007), Dejour has been informed by the operator:
1.
Completion and tie in operations for
production will commence in early February
2.
An offset well will be drilled prior
to break up in March 2008
Additionally, Dejour, with
its in-house seismic expertise, is working with the operator on acquiring 3D
seismic over the land held associated with this discovery that will define the
course of future development of this natural gas project.
Dejour
is currently on budget and on schedule with its Peace River Arch winter 2008
operations.
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:
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the US Private
Securities Litigation Reform Act of 1995. All statements in this release, other
than statements of historical facts that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects, are forward-looking statements. Although
Dejour believes the expectations expressed in such
forward-looking statements are based on reasonable assumptions, such statements
are not guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in forward-looking
statements include uranium and oil and gas prices, well or production
performance, exploitation and exploration successes, continued availability of
capital and financing, and general economic, market or business conditions. The
Company expressly disclaims any obligation to update any forward-looking
statements. We seek safe harbor.
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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