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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Holiday Season Positive for Energy Stocks

If 2010 follows the pattern of the past 15 years, we are approaching the start of a seasonal climb in the price of crude oil that could present a good investment opportunity in energy-related stocks.

Oil is down from its 2009 peak of $81 per barrel seen in October, but we remain constructive on energy stocks given the improving economy and positive seasonal factors heading into the New Year.

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Major News Release for GeoPetro Resources – Highlighting Lokern, CA Project

GeoPetro Resources Corporation (NYSE AMEX: GPR) released an overview of their Lokern, California property today which outlined the prospects for their 100% working interest in 1,280 acre located in Kern County. This is a particularly interesting energy prospect as it is in close proximity to the recently announced significant new discovery made by Occidental Petroleum (NYSE: OXY), one  deemed by OXY to be the largest new energy discovery in California in the last 35 years.

GeoPetro expects that a well will be drilled, either by themselves or through a farmout arrangement with a third-party, to a depth sufficient to test the Stevens and deeper Carneros zones sometime in 2010. At this time the Company is in the process of permitting up to three drilling locations on the property.

The Lokern leasehold is in close proximity to the recent hydrocarbon discovery announced by Occidental Petroleum in July 2009. GeoPetro’s prospect is on trend with, and located immediately north of the prolific Elk Hills and Tule Elk fields, which have combined reserves greater than 1.5 billion barrels of oil equivalent.

 In the release GeoPetro announced that the primary exploration objectives at this property are the Miocene Stevens formation and the deeper Carneros member of the Temblor formation. The secondary objectives include the Miocene Reef Ridge and Pliocene Etchegoin sands.

GeoPetro Resources President and CEO, Mr. Stuart Doshi commented in the release:  “California has always been on our radar screen due to its large potential associated with the high-quality, oil-prone reservoirs present in the region and our belief that the deeper potential in the San Joaquin Basin is significantly underexplored. We were able to assemble the land position in our Lokern Project with a modest investment well ahead of Occidental’s announcement. We believe industry interest in this area, on the heels of the recently announced Occidental discovery, should allow us to secure an industry partner or otherwise obtain the necessary capital to undertake drilling and evaluation of our acreage position. Subject to permitting, this should take place next year.

“Pursuing a diverse portfolio of both oil and gas prone reserve targets has been a Company strategy since inception. Adding crude oil potential, or possibly condensate rich natural gas, to our resource mix may help mitigate commodity price risk and may further provide a separate growth vehicle that complements our other properties.”

This is potentially huge news for GeoPetro and confirmation of this property’s value via a successful test-well could very well be a “Company Maker” event – so we are quite excited about this announcement and see some very stong investment potential in GeoPetro at this time. We commented about GeoPetro’s outstanding list of highly prospective energy prospects in this blog last week and today’s release makes us even more bullish regarding both their near, and longer term prospects – especially in light of the fact that the Company is planning to take steps to materially increase production at their Madisonville natural gas project in East Texas during the first quarter of 2010.

The recent blog post on GeoPetro is located here, which we recommend reading as soon as possible if you haven’t already – and a link to today’s full press release is available here

Prospects for Natural Gas Create Huge Opportunity for GeoPetro Resources in 2010

GeoPetro Resources Company (NYSE-Amex: GPR) is a San Francisco based exploration and production energy company which is well positioned to benefit from a trend we see developing in the natural gas market. Over the past few weeks, natural gas prices have moved up quietly. The Henry Hub spot price is now just over $5.50 per mcf and spot prices in the Northeast are approaching $8.50 per mcf. Admittedly, these price increases reflect freezing temperatures across the country, including this past weekend’s blizzard that ravaged much of the East. Significantly, the recent price escalation shows just how quickly natural gas pricing can change. On top of which we believe there are several near and mid-term fundamentals which could move natural gas above $7.00 per mcf for the foreseeable future, at which price it becomes impossible to ignore natural gas producers such as GeoPetro Resources.

Over the last 30 to 60 days, there have been two very big bets placed on the prospect of rising energy costs in the United States. The first was the purchase of Burlington Northern Santa Fe Railroad by sage investor Warren Buffet. At $26.5 billion, it was his largest transaction ever. And while this is principally a bet on the economic recovery of the U.S., Buffet did state that one of his reasons for this acquisition was BNI’s cost-effective way of moving goods. Attention to distribution will be even more pronounced in a rising cost energy environment, remember gas above $4.00 per gallon and what that did to the cost of moving goods across the country by truck.

The second big deal was Exxon’s acquisition of XTO Energy in and all stock deal valued at approximately $41 billion. XTO has a large percentage of its energy holdings in unconventional resources known as shale gas basins, which require natural gas prices of $6.00-$7.00 per mcf in order to be economical.

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

Triangle Petroleum Announces New Strategic Direction

In a press release this morning, Triangle Petroleum Corporation (OTCBB: TPLM; TSX-V: TPE) announced the following developments based upon recent discussions with its largest shareholder, Palo Alto Investors, LLC. 

In addition to its existing shale gas project in Nova Scotia, Triangle has decided to pursue several opportunities in North American unconventional oil plays. The Company intends to acquire prospective acreage and to commence an appraisal and development program with the aim of producing early cash flow and a series of growth options. The Company has cash reserves in excess of $5 million, significant tax pools (approximately $32 million in the US and $29 million in Canada), and has no debt, to support this new direction.

As a follow up to this morning’s announcement, at the close of markets today, Palo Alto Investors applauded the Company’s Board for its decisive actions on behalf of shareholders, including the appointment of Dr. Peter J. Hill as the Company’s Chief Executive Officer and the addition of three new Board members who have been brought in to help the Company create a new strategy focused on near-term opportunities in North American unconventional oil and gas basins.

Below please find links to both press releases:

Triangle Petroleum Announces New Strategic Direction, Changes to the Board of Directors and New CEO

Palo Alto Investors Voices its Support of New Management and Board at Triangle Petroleum

Dubai Woes Give China Chance to Buy Oil, Gold

BEIJING (Reuters) – Dubai’s debt crisis could be China’s opportunity to snap up gold and oil assets, a senior Chinese official said in remarks published on Monday.

No Chinese banks have yet reported exposure to debt from Dubai World, a flagship firm that last week said it was seeking to delay debt payments by six months. Some Chinese real estate and construction firms have limited exposure to projects in the emirate, state television reported this weekend.

China’s $2.27 trillion in foreign exchange reserves are mostly parked in U.S. treasuries, despite calls from some in China to invest the reserves in oil and other natural resources that the fast-growing Chinese economy will need in future.

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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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