Dejour Announces Peace River Arch Projects & Adds Piceance-Uinta Acreage.VANCOUVER, British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography -- Dejour Enterprises Ltd. ("Dejour") (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DJE), (TSX VENTURE:DJE.WT), (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :DJEEF), (FWB (Fixed Wireless Broadband) See fixed wireless. :D5R) -- Dejour Energy Alberta Ltd. ("DEAL") has negotiated agreements covering six strategic projects in the Peace River Arch area of northwest Alberta and northeast British Columbia, Canada. The first of these projects has commenced operations and all six are scheduled for drilling and or completion prior to the end of June 2007. Dejour is earning a 33% average net working interest in these projects inclusive of inclusive of prep. Taking into consideration or account; including. the previously announced Noel project, one of the six projects. Dejour will invest approximately CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $4 million in an initial nine well drilling Well drilling is the process of drilling a hole in the ground for the extraction of a natural resource such as ground water, natural gas, or petroleum. Drilling for the exploration of the nature of the material underground (for instance in search of metallic ore) is best described and recompletion program which has the potential for as many as 30 wells to maximize gas production from earned and optioned lands. As of this date, DEAL estimates that its share of a prospective resource estimate ranges from 16 - 32 BCFG BCFG Fog Patches (Terminal Area Forecast) BCFG Billion Cubic Feet Gas BCFG British Cold Forging Group . Dejour's share of full development is preliminarily budgeted at a further CDN$12 million. This would equate to a finding and development cost into pipe of CDN$0.50-$1.00/mcf. Dejour estimates that a successful program should result in daily production of 8 mmcf/d net to Dejour (risked 50%), providing gross revenues approximating CDN$ 18 million annually (cash flow CDN$ 12 million) using $6/mcf gas pricing when fully developed. Dejour and its partners expect to be drilling some of these projects into pending land sales. Consequently, drilling results may be held confidential where sensitive. A complete summary of the initial nine well program will be forthcoming when concluded. Company personnel are very active reviewing a proliferation of projects of healthy economic potential, coupled with relatively low geologic risk, that are finding their way to market during this temporary period of uncertainty in the Canadian gas E&P business. Charles W.E. Dove, B Sc., P. Geoph. is the qualified person for the Company's Canadian O&G projects. Piceance- Uinta Basin Project Dejour Energy USA has increased its gross land position in this project to greater than 285,000 acres (59,400 net) through recent acquisitions of federal leases at auctions. These purchases were designed to enhance the respective existing land holdings by Dejour and its partners, Brownstone brownstone, red to brown variety of sandstone. Its unusual color is caused in some instances by the presence of red iron oxide which acts as a cement, binding the sand grains together. and Retamco. Retamco, the major partner and operator has been notified by the Bureau of Land Management that applications for drilling permits are currently being reviewed and should be issued late in Q1-07. This time frame is viewed positively by Dejour and its partners, as land prices are continually rising, new 'flex' rigs are being introduced to the area bringing important drilling economies, and the drilling and acquisition plans of the larger companies in the region are poised to positively impact our lease investment in these basins. Dejour expects that the initial permits to be approved will cover the Barcus Federal leases (1920 acres) of the Rio Blanco Deep project, targeting the blanket Mesa Verde sands at 11000'. Drilling activity in this area has been very active by companies such as Williams Co. (on Exxon lands) and Bass Operating on adjacent leases. Williams Cos. has recently completed a pipeline to the edge of this lease block to tie-in Bass wells. Exxon stated late in 2006 that it is mobilizing 14 rigs to drill 1000 wells in this same area. The Oil & Gas Investor (November 2006) states that the overall drilling activity in the Rocky Mountain basins, where the Piceance and Uinta basins are dominant, will exceed 43,000 wells in the next 5 years representing an industry investment of over $25 billion. Key major players include EnCana Oil & Gas (USA) Inc., The Williams Cos., Bill Barrett Corp., ExxonMobil and ConocoPhillips, Occidental and Marathon. About Dejour Dejour Enterprises Ltd. is a Canadian energy company focused on exploration and development of uranium and oil & gas while leveraging opportunities that exist as a result of the global market's decreasing conventional supply and increasing demand for energy. The Company is listed on the TSX Venture Exchange TSX Venture Exchange Originally called the Canadian Venture Exchange (CDNX), this was a result of the merger of the Vancouver and Alberta stock exchanges. The goal of TSX Venture Exchange is to provide venture companies with effective access to capital while protecting investors. (DJE.V), OTCBB (DJEEF), 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 Investor relations The process by which the corporation communicates with its investors. at investor@dejour.com . DEJOUR ENTERPRISES LTD. Robert L. Hodgkinson Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Suite 1100-808 West Hastings Street, Vancouver, British Columbia Canada V6C 2X4 Telephone: (604) 638-5050 Facsimile: (604) 638-5051 Email: investor@dejour.com www.dejour.com THE TSX VENTURE EXCHANGE DOES NOT ACCEPT RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE. |
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