Dejour Participates in Lavaca Prospect in Mitchell County, Texas.VANCOUVER, British Columbia -- Dejour Enterprises Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension VENTURE:DJE) - Robert L. Hodgkinson, Chairman & 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. , reports the Company has purchased a 10% interest in the Lavaca Prospect located in the southwest portion of Mitchell County Texas. The prospect includes 6,181 gross acres and 3,998 net acres with an average Net Revenue Interest of 81.25%. The operator proposes the drilling of a test well to be drilled to a depth of 8,000' sufficient to test the Ellenburger Dolomite formation. Dejour's 10% share of acquisition costs (land, brokerage) is $42,500 USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. . Drilling of the 1st well is scheduled to occur during November 2005 with Dejour's share for drilling and abandonment costs (1/3 for 1/4 basis) estimated at $57,400 USD to earn in the initial well a 10% WI or 7.5% NRI NRI Nomura Research Institute (Tokyo, Japan) NRI Non-Resident Indian NRI Natural Resources Institute NRI National Resources Inventory NRI Networked Readiness Index NRI Natural Resources Inventory NRI National Research Institute . Dejour would pay its earned interest of completion costs estimated at $53,400 USD. The Lavaca Prospect is situated 15 miles to the north and on trend with the Conger Field which will produce over 500 BCF and 40 MMBO MMBO Million Barrels of Oil and situated 18 miles to the east of the Signal Peak Field which will produce over 200 BCF and 20 MMBO from the prospective interval. The prospect is immediately west of a prominent Wolfcamp Limestone shelf edge within the confines of the Easter Shelf of the Permian Basin. The prospect is a stratigraphic trap with monoclinal dip into the basin to the west. The prospect is controlled by a number of key wells in the area that define the trend of the sand as a north-south elongated e·lon·gate tr. & intr.v. e·lon·gat·ed, e·lon·gat·ing, e·lon·gates To make or grow longer. adj. or elongated 1. Made longer; extended. 2. Having more length than width; slender. turbidite tur·bi·dite n. A sedimentary deposit formed by a turbidity current. turbidite A sedimentary deposit formed by a turbidity current. fan. The operator's reserve estimate exceeds 200 BCF gas and 20 MMBO. About Dejour Dejour Enterprises Ltd. is a Canadian energy company exploring for uranium, oil and gas whose mission is to provide superior shareholder value by acquiring and developing unique and rewarding opportunities within today's burgeoning energy markets. 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. under the symbol (DJE.V). Statements in this release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed under the heading "Risk Factors" and elsewhere in the Corporations' periodic filings with Canadian securities regulators. Such information contained herein represents management's best judgment as of the date hereof based on information currently available. The corporation does not assume the obligation to update any forward-looking statement. Robert L. Hodgkinson, Chairman & CEO DEJOUR ENTERPRISES LTD. Shares Issued: 31,169,854 Last Close: 10/17/2005 - $0.90 Dejour Enterprises Ltd. (TSX VENTURE:DJE) |
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