Dejour Enterprises (NYSE AMEX:DEJ) and (TSX:DEJ) released a new corporate presentation this week which outlines their current business condition and includes a detailed quantification of their PV-10 (present value discounted at a 10% annual rate) potential for six of their core prospects in the Piceance Basin of Colorado and the Peace River Arch Basin in British Columbia Canada. Dejour estimates their PV-10 value potential at $670 million (risk weighted) with 900 BCF (billion cubic feet) of natural gas and 25 MMBO (million barrels of oil). It’s important to note that these six prospect areas represent only about 25% of Dejour’s land holdings.
The new presentation is very detailed and has some excellent graphics of Dejour’s Piceance Basin prospect areas, including where these prospects are in relation to some of the major operators in the area such as OXY, Orion and Barrett. Dejour is presently trading at roughly 44% of their Net Asset Value and the PV-10 estimate is roughly 20X their current market cap.
As Dejour starts to get active in the field again to prove up additional land holdings and grow current production numbers, we expect this big gap to start narrowing rapidly. The new presentation is a must read for anyone holding Dejour shares and anyone looking to position themselves in a well managed, emerging energy player with over 140,000 net acres in some of the most highly prospective acreage on the planet.
The full presentation is available here
Additional information on Dejour Enterprises is available at www.dejour.com