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Strategies & Market Trends : Value Investing
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To: Paul Senior who wrote (40631)1/21/2011 3:37:10 PM
From: E_K_S  Read Replies (1) of 78464
 
Hi Paul -

Re: Dejour Enterprises Ltd Ordinary (AMEX: DEJ )

Not much stock price action on this news today. I guess the market is looking for actual "new" proven reserves. They plan to develop two new wells but DEJ will only have a 20% interest in them.

It appears that US Oilco changed their name to US Venture. Is this the same company that signed the JV? I think they are private but the article says they are a "NYSE listed E&P company". usventure.com

Any ideas on who this JV partner is?

Dejour and US Oilco Sign LOI for Exploration Joint Venture
finance.yahoo.com
From the article:"...Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) announces today that it has signed a Letter of Intent with a NYSE listed E&P company to create an exploration Joint Venture (JV) based on certain of Dejour's Canadian landholdings.

Terms of the initial JV, when finalized, will include an option payment to Dejour to a maximum of $1mm tied to Dejour’s achievement of specific objectives in Q1 of 2011. Upon satisfactory achievement of initial objectives, it is contemplated that the JV will fund land purchases up to $5mm on a 65/35 basis (US Oilco/ Dejour) to be followed by the funding and drilling of two horizontal wells (combined $9mm estimate) on an 80/20 basis (US Oilco/Dejour). As contemplated by the agreement, US Oilco and Dejour would continue to develop the project on an ongoing 50/50 basis beyond the earning period...."

EKS
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