Dejour Energy (DEJ-T) Aug 27, '14 Development operations for 2014 are under way at Dejour Energy Inc.'s Kokopelli project.New drill pad 21B has been completed, including gas connection (please refer to the company's website for media), and drill pad 21A has been augmented to accommodate the drilling, equipping and utility of a water disposal well that will prove a significant economy to existing water disposal arrangements.
A Peter Martin "conductor" rig is engaged to complete the "rat holes" with 20-inch casing for eight new production wells and one water disposal well prior to the Frontier-28 rig moving in for sequential total-depth drilling operations in mid-September.
The 2014 drill program is focused on developing significant new production from the liquids-rich Williams Fork formation (based at 8,400 feet) and testing for production from the Mancos reservoir, in particular, the commerciality of deep Niobrara strata (estimated to base at 12,750 feet).
As previously reported, Dejour is fully carried for 25 per cent of the first $16-million (U.S.) in expenditures to maintain its 25-per-cent working interest in the Kokopelli project. The final project budget (authorities for expenditure) should be completed shortly.
"We are pleased with this drill program profile at Kokopelli, as we anticipate the advent of large volumes of new gas, condensate and NGL [natural gas liquid] production moving into well-contracted sales lines during the peak seasonal commodity pricing regime. This production ramp, combined with the opportunity to test and produce the high-pressure, rich Niobrara strata of the Mancos this season, makes this drill program by far the most important for Dejour to date. A successful campaign is expected to contribute significantly to the expansion of Dejour's PDP [proved developed producing] reserve value and production base, further derisk the engineering profile, and improve project economics. Dejour is now poised to see Kokopelli become a significant liquids-rich multizonal producing field," stated Robert L. Hodgkinson, chairman and chief executive officer.
Robert L. Hodgkinson, 604-638-5050 or Craig Allison, 914-882-0960 Chairman & CEO |
