Dejour Bolsters Board of Directors at 2009 Annual General Meeting

Renews Shareholder Rights Plan, Adopts new Stock Option Plan and Augments Capital Structure

VANCOUVER, Dec 22, 2009 (BUSINESS WIRE) –

Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) is pleased to announce the election of Mr. Stephen R. Mut, M.Sc. Environmental Eng. and Mr. Darren Devine, LLB as new members of the Dejour Board of Directors. Re-elected at the AGM are Mr. Harrison Blacker M.Sc. M.Eng., Mr. Craig Sturrock LLM QC, Mr. Richard Patricio LLB, Mr. H. Robert Holmes and Mr. Robert L. Hodgkinson.

Mr. Mut will also serve as Co-Chair of the Board of Directors. Steve has been a Special Assistant to the CEO and COO for the past 7 months. He brings to the company extensive experience. Most recently he served as CEO of the Shell Unconventional Resources unit of Shell Exploration and Production Company. Before retiring from Shell in mid 2009, Mr. Mut led the team responsible for research and development of a new enhanced oil recovery method in northwestern Colorado’s oil shale resources known as The Mahogany Research Project, field-testing the technical and environmental viability of Shell’s in situ (in ground) process.

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Dejour to Raise US$3.2 Million through Registered Direct Offering

VANCOUVER, Dec 17, 2009 (BUSINESS WIRE) –

Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) announces the Company has entered into a definitive agreement to sell 10.8 million common shares at a price per share of US$0.30 pursuant to a registered direct offering to institutional investors, resulting in gross proceeds of approximately US$3.2 million.

In addition to the issuance of common shares, Dejour will also issue to the investors warrants to purchase up to 8.1 million common shares at an exercise price of US$0.40 per share. The warrants will be exercisable over a 5 year term commencing 6 months from the closing date of the transaction.

Dejour plans to use the net proceeds from the offering to explore and develop our oil & gas properties, for working capital and for general corporate purposes.

The closing of the offering is expected to take place on or about Tuesday, December 22, 2009, subject to the satisfaction of customary closing conditions.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM), acted as the exclusive placement agent for the transaction.

The securities are being offered directly by the Company pursuant to the Company’s effective shelf registration statement on Form F-3 (Registration No. 333-162677) previously filed with the United States Securities and Exchange Commission. Copies of the base prospectus relating to the offering may be obtained from the Securities and Exchange Commission website at http://www.sec.gov, or from Rodman & Renshaw, LLC, 1251 Avenue of the Americas, 20th Floor, New York, NY 10020 and by phone at (212) 356-0500 or by fax request at (212) 581-5690.

This announcement shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any offer or sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.

About Dejour

Dejour Enterprises Ltd. is an oil and natural gas company operating multiple exploration and production projects in North America’s Piceance / Uinta Basins (127,000 net acres) and Peace River Arch region (18,000 net acres).

Dejour, headquartered in Vancouver, Canada, maintains operations offices in Denver, Colorado and Calgary, Canada. The company is publicly traded on the NYSE-Amex (NYSE-AMEX: DEJ) and Toronto Stock Exchange (TSX: DEJ).

ON BEHALF OF THE CHAIRMAN OF DEJOUR ENTERPRISES – Robert Hodgkinson

We are reprinting an update letter out today from Bob Hodgkinson, CEO of Dejour Enterprises Ltd. (TSX: DEJ & NYSE AMEX: DEJ), an oil and gas group with over 140,000 net acres of highly prospectice and producing oil and gas properties in North America (Colorado’s Piceance Basin and Peace River Arch Basin of British Columbia, Canada). Dejour is producing currently at 400 BOE/day, and has several drilling programs on the go for the next few quarters which should move that number north significantly and add to the Company’s proven reserve base.  

On Behalf of the Chairman

Finally the O&G business environment is noticeably improving in the US Rockies, with two significant events have taken place that have positively changed the economics of this sector, particularly in the Piceance Basin.

The first is the ever expanding pipeline networks that are finally in place and have minimized the price differential of natural gas delivered from this region with other production hubs in the US. Last week, the final leg of the Rocky Mountain Express Pipeline has recently been completed by Williams Cos. Inc. (NYSE-WMB).  This new pipeline provides good news to the natural gas producers in the Piceance Basin.  The additional capacity will provide Rocky Mountain producers with competitive natural gas market prices. On December 2, 2009 the Company (Williams Cos. Inc.) released additional news stating their intention for further pipeline development in the area.

 Attached are two recent articles that discuss these very positive developments in the Piceance Basin, located in the Rocky Mountains, Colorado

http://www.dailymail.com/ap/ApTopStories/200911290241

http://www.reuters.com/article/governmentFilingsNews/idUSN02597520091202

 The second interesting article this week discusses the emerging Mancos shale play in the Piceance Basin and surrounding environs.

Thanks to new drilling efficiencies, the emergence of sizable new gas (and oil) reserves in the Mancos ‘Shale’ now seem to underscore the traditional Mesa Verde (Williams Fork) gas production sands of the Piceance that currently hosts over 9000 wells. Traditionally thought to hold some 300TCF of natural gas, this basin could now hold additional similar volumes in the deeper, economically and operationally accessible Mancos horizon.Similarly, in the regions surrounding the Piceance Basin, the Mancos ‘Shale’, still considered ‘very early game’ by the industry, is now beginning to yield significant quantities of oil      at relatively shallow depths utilizing horizontal drilling technologies in this region for the first time.

http://stocks.investopedia.com/stock-analysis/2009/And-Yet-More-Shale-Plays-KWK-EOG-BBG1201.aspx

What do these recent events mean for Dejour?

1. The advent of more attractive (lower breakeven production thresholds) natural gas well head pricing, significantly improves the value potential for Dejour’s landholdings in this region.

2. Dejour’s Gibson Gulch and Roan Creek gas projects have the opportunity for material reserve enhancement as a result of the emerging Mancos gas shale addition to the well established Mesa Verde (Williams Fork) gas production. When dual production is successfully implemented, the F&D costs of this combined production sequence could be among the most attractive anywhere in the NA natural gas business today.

3. Dejour’s North Rangely and South Rangely oil projects are very prospective as emerging oil plays associated in the Mancos ‘Shale’, utilizing techniques similar to those meeting with success in the Bakken Oil play of the Williston Basin, at a fraction of the cost.

If you have any questions regarding any of the above, please contact Investor Relations at 1-866-888-8230.

Happy Holidays! Thank you for your continued interest in Dejour,

Office of Investor Relations.

Dejour Acquires Key Oil & Gas Acreage

In a press release out today, Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) announced that they have acquired over 2,000 additonal acres of leasehold interts in Northeast British Columbia adjacent to their existing Woodrush oil discovery. This land is on trend with the Halfway oil pool discovered by Dejour in early 2008. Dejour is confident that this new land acquisition will allow them to significantly increase their oil and gas resources at their 73.5% owned Halfway oil pool.

In the release Dejour also announed the commencement of its winter exploration drilling program at Woodrush, which is comprised of up to three new oil wells.  Dejour currently produces 400+ net BOE/d from this field. The drilling plan is scheduled for completion during Q1-2010.

In the release,  Hal Blacker, President of Dejour Enterprises Ltd stated “This is a very exciting time for Dejour. The current drilling program, coupled with the acquisition of this additional highly prospective acreage, provides to Dejour and its partners the best possible position with which to efficiently exploit this quality oil resource and maximize the value of this new oil pool discovery”.

This really is great news for Dejour, which has spent the last six to nine months optimizing their asset holdings and paring down debt levels in anticipation of a return to a  higher energy pricing environment. Dejour’s winter drilling program at their Woodrush/Drake property, combined with planned activity at the Company’s large land holdings in the Piceance Basin of Colorado give Dejour the potential to increase both production and proven reserve numbers over the next few quarters – which should in turn show up on their balance sheet and ultimatley in their stock value.

There have been a number of reports circulating lately that some of the largest national oil exporters’ production levels (Mexico, Indonesia and Venezuela for example) are now in terminal decline due to short sighted onsite oil field management practices. If these reports are proven out, this supply destruction will have a very material impact to energy pricing over the next few years and energy groups with large land holdings in North American oil and gas properties will become very valuable. Dejour has a large acreage position in some of North America’s most prolific energy addresses, so we see them benefitting in this scenario.

To review Dejour’s most recent corporate presentation go here

Dejour’s full press release is available here

Dejour Announces Q3 2009 Financial and Operating Results

November 12, 2009 at 12:44 pm EST – VANCOUVER–(BUSINESS WIRE)–Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) reports it has filed its quarterly documents with regulatory authorities today. The Company has significantly reduced debt and fully delivered on its promise to strengthen its balance sheet in anticipation of a solid financial performance and key project development in 2010.

At the close of Q3 2009 all material aspects of the Company financial restructuring program had been successfully completed. Going forward, the company expects cash flow from operations in Q4 09 to cover essentially all operating and overhead costs and upon the completion of additional development wells at Woodrush; Dejour expects to generate excess cash flow from operations of approximately C$5M in 2010 that will be used to fund capital projects in the Piceance Basin.

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Dejour Closes First Tranche of 2009 FT Financing with MineralFields

Dejour Enterprises Ltd. (NYSE AMEX: DEJ/TSX: DEJ) is pleased to announce that it has closed the first tranche of its $2,000,000 non-brokered private placement announced on September 28, 2009 through the sale of 1,333,333 flow through shares at C$0.60 each, issued to the MineralFields Group, a Canadian energy investment fund, for gross proceeds of C$800,000, and the sale of 960,000 shares to other investors for gross proceeds of $576,000. Total gross proceeds of the first tranche is $1,376,000. The Company paid finders’ fees of up to 6.5% of the proceeds in cash in connection with this sale.

“We are very pleased that the Pathway Energy Fund is the lead funding participant in the financing of a focused 3D seismic and drilling program at the Company’s Woodrush Oil project in NE BC, targeted to commence late in Q4-09,” said Robert L. Hodgkinson, Chairman & CEO. The Woodrush/Drake production complex hosts 6 wells to date, with a 100% drilling success rate.

To read full press release click here

Dejour Enterprises Announces Analyst Coverage and Report by Zacks Investment Research

Dejour Enterprises Ltd. (NYSE AMEX: DEJ/TSX: DEJ) announced this morning that Zacks Investment Research, an online financial investment data provider, has initiated coverage of the Company.  The 24 page independent report projects an initial 12-month target stock price for the Dejour’s common stock of US$1.01, In the report, Zack’s believes that Dejour’s “key Piceance Basin acreage [to be] at ground zero of bidding war.”

Commenting on the announcement, Mr. Robert Hodgkinson, CEO of Dejour stated: “this first independent research report serves to profile our solid asset base that management believes will deliver strong incremental value to our stakeholders. We will be commencing the Peace River Arch winter oil drilling this fourth quarter, which we anticipate will substantially impact Dejour’s valuation over the next six months. The recognition provided by Zacks Investment Research in its report and continued coverage will certainly corroborate our efforts and document our growth not only for the period upon us, but continually during the resurgence of the North American natural gas markets over the next several years.”

A copy of the report can be obtained for a fee at: www.zacks.com

To read the full press release click here

Dejour Announces Private Placement of C$2.0 Million Flow-Through Shares

Dejour Enterprises Ltd. (NYSE AMEX:DEJ) and (TSX:DEJ) announced plans to sell 3,333,333 common flow-through shares at a price of C$0.60 per share to raise C$2.0 million in an above the market private placement.

Proceeds from the placement will fund an enhanced 3D survey and kick off the winter drilling program for the Woodrush oil project located in the Peace River Arch, BC. At least two oil wells are planned and have already been permitted for drilling at Woodrush during the 2009/10 winter drilling season.

To read the full press release click here

Fact or Fiction: “Ain’t No Cure for the Summertime Blues”

According to Alan Jackson’s hit song “Summertime Blues” which can be found on his 1995 Greatest Hits Collection, there “ain’t no cure for the summertime blues.”  We all have fond memories of summer, going to the beach, staying up late, a summer crush, no school, family vacations, and simply just being a little more carefree.  Labor Day marks the end to summer and the start of fall, the weather tends to cool down a bit, kids are back in school, and summer starts to become a memory. 

For some it is a difficult transition.  For us, it was a walk on the beach.  For starters, gold powered through the $1,000 mark and silver was fast approaching $17.  More specific to BabyBulls, our clients have hit the ground running this Tuesday morning after Labor Day.  Achieving returns similar to those posted by our clients companies is one sure way to reduce, if not eliminate entirely, those summertime blues.  We believe there is more good news to come between now and the end of the year. 

• Avanti Mining Inc. (TSX-V: AVT) – $0.18/share, an increase of nearly 100% from our initial profile price.
• Biomoda, Inc. (OTC BB: BMOD) – Reached a high of $0.40/share, an increase of 48%.
• Biopack Environmental Inc. (OTC BB: BPAC) – Trading at $0.40/share, an increase of 5.3%.
• Dejour Enterprises Ltd. (NYSE-Amex: DEJ; TSX: DEJ) – Trading at $0.33/share, an increase of 10%.
• ECU Silver Mining Inc. (TSX: ECU) – Trading at $0.58/share, an increase of 3.6%.
• GeoPetro Resources Company (NYSE-Amex: GPR) – Reached a high of $1.14/share, an increase of 48%.
• Great Panther Resources (TSX: GPR) – Reached a high of $1.25/share, an increase of 78.6%.
• Nayarit Gold Inc. (TSX-V: NYG) – Trading at $0.55/share, an increase of 7.84%.
• Silver Dragon Resources Inc. (OTC BB: SDRG) – Reached a high of $0.30/share, an increase of 50%.
• Victoria Gold Corp. (TSX-V: VIT) – Trading at $0.40/share, an increase of 14.3%.

Dejour Enterprises New Corporate Update Now Available

 

 

 

 

 

 

 

 

Dejour Enterprises further defined their development strategy and pool of highly prospective/producing energy properties in an updated 4 page Corporate Overview which is now available at: http://www.dejour.com/docs/dejourcorporateprofile.pdf 

This new overview includes several excellent graphics of Dejour landholdings in both the Piceance Basin and BC/Alberta Canada (140,000 net acres) and the proximity of their properties to many of the major oil companies/operators in those regions such as Occidental Petroleum (NYSE:OXY), Barrett Petroleum and Orion. Recently we reported the Williams Co. (NYSE:WMN) purchase of land and farm-in interests that geographically surrounds Dejour’s acreage for $285 million. Dejour estimates that this land transaction pegs the value of their Gibson Gulch property alone at somewhere between $40 and $80 million. 

Highlights covered in detail in the corporate update include:

• Gibson Gulch value substantiated by Williams Co. Purchase of Piceance Properties (08/09)
• Total liabilities reduced by $9.7 M
• Oil  & Gas revenue of $1.7M in Q2. (08/09) 
• Operational efficiencies improved at Peace River Arch in Q2 (07/09)