Dejour Confirms Its First Piceance Basin Natural Gas Discovery
Ticker Symbol: C:DEJ U:DEJ X:FWB:D5R
VANCOUVER, British Columbia -- (Business Wire) --
Dejour Enterprises Ltd. (TSX VENTURE:DEJ) (AMEX:DEJ) (FWB:D5R) is
pleased to announce that the N. Barcus Creek #1-12 well has been
successfully drilled to a total depth of 11,500'. The H & P Rig #159
commenced drill operations on August 16th and over the past 2 weeks
encountered encouraging gas shows. Mud logs indicate both conventional
gas sands above 7800' and targeted basin centred reservoirs of the
Mesa Verde group sands to total depth. Logging is underway and when
completed the Operator has elected to set casing following which the
rig will relocate to the nearby N. Barcus Creek #2-12 well to be
deepened to a projected TD of 11,425'.
¶ Project partners (Dejour 25%) have contracted Haliburton Energy
Services to commence completion and testing of the #1-12 well shortly.
The Operator reports that the multiple indicated natural gas bearing
zones located in the Williams Fork and Isles sections of the Mesa
Verde group sands, are very similar to wells drilled and successfully
completed on adjacent Exxon lands by Williams Cos. Haliburton is one
of the most technically advanced completion experts in this deep basin
centred area of Rio Blanco County, north central Piceance Basin,
having recently advised Williams Cos. on the completion of its new
wells offsetting the Dejour and partners N. Barcus Creek acreage.
Logging and completion results are forthcoming.
¶ The Barcus Creek wells are the first wells to be drilled by Dejour
and partners on almost 300,000 acres of land holdings in the Piceance
- Uinta Basins respectively of Western Colorado and Eastern Utah,
acquired since July of 2006. The North Barcus Creek prospect is one of
3 separate land holdings totaling over 5000 acres within the highly
promising 'Rio Blanco Deep' project area. Logs of a well drilled on
this prospect in 1979, prior to the advent of current completion
technology, showed 260 ft. of potential hydrocarbon bearing sands in
the Upper Isles formation of the Mesa Verde group.
¶ Dejour and its partners initially plan to drill a total of 4 wells
at N. Barcus Creek. It is expected that these lands will be fully
developed on 40 acre spacing units. Accessible pipeline facilities lay
within one mile of the lease boundaries.
¶ This 'Rio Blanco Deep' project is one of over 60 separate
exploration projects held by Dejour (average interest over 25%) in its
search for and exposure to significant energy discovery in the
hydrocarbon bearing basins of Piceance/Uinta in Colorado/Utah and the
Peace River Arch of NE British Columbia/NW Alberta Canada, inclusive
of the uranium bearing Athabasca/Thelon Basins of Northern Canada
through its holdings of Titan Uranium (TSX-V: TUE) and associated
carried/royalty interests.
¶ Recently the Company announced its intent to purchase natural gas
production in Liberty County, Texas.
¶ "This is the perfect time to make new discoveries of large
quantities of natural gas in the Piceance Basin. Not only are natural
gas prices set to bounce off their seasonal low for what we feel could
be an extended rise, but this discovery coincides with the completion
of substantial new delivery infrastructure in the Rio Blanco project
area that will facilitate bringing this gas to market in a timely
fashion," states Bob Hodgkinson Dejour's Chairman & CEO . "We look
forward to Dejour and its partners accelerating their
investment/development strategies within these rich natural gas
basins."
¶ R. Marc Bustin, Ph.D., P.Geol. FRSC is the qualified person for
this news release.
¶ About Dejour
¶ Dejour Enterprises Ltd. is a micro cap Canadian company focused on
oil & gas exploration and production with a significant investment in
uranium discovery. The company acquires high-impact energy assets and
strategically monetizes them to enhance shareholder returns.
¶ The Company is listed on the TSX Venture Exchange (DJE.V), Amex
(DEJ), 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
¶ CAUTIONARY DISCLAIMER - FORWARD-LOOKING STATEMENTS
¶ 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.
Contacts:
Dejour Enterprises Ltd.
Robert L. Hodgkinson, Chairman & CEO
604-638-5050
Facsimile: 604-638-5051
investor@dejour.com |
