Dejour Highlights from Q1 2010

May 14, 2010

Dejour Enterprises (NYSE-Amex: DEJ; TSX: DEJ) releases Q1 2010 results, including the following highlights:

  • Successfully drilled, completed and tested two additional wells in the Woodrush area, providing the Company with the expectation of positive operating cash flow generation in the 2nd quarter of 2010. The first well is a productive gas well in the Gething formation and tested at a rate in excess of 900 MCFD (675 MCFD net to Dejour) of natural gas, unstimulated. The second well is productive in the Halfway formation and tested at rates well in excess of 500 BOPD (375 BOPD net to Dejour) of oil. These two wells will be tied into production in the 2nd quarter of 2010 and production rate will increase accordingly.
  • Obtained a credit facility of up to $5 million, allowing the Company to refinance its existing bank facility and fund its working capital.
  • Raised $1 million in equity under challenging market conditions, allowing the Company to execute its drilling program in the quarter.

Read More

Advertisements

Dejour’s 2010 IPAA Webcast Now Available For Download

April 13, 2010

Dejour Co-Chairman Stephen R. Mut presented today at the Oil and Gas Investment Symposium (OGIS) organized by the Independent Petroleum Association of America (IPAA) in New York City.

Interested parties are invited to listen to this insightful 20-minute presentation (audio file) at:

http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=DEJ&item_id=2726420.


Dejour to Present at the 2010 IPAA Investment Symposium

April 7, 2010

DENVER, Apr 07, 2010 (BUSINESS WIRE) —

Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) announced today that Co-Chairmen Robert L. Hodgkinson and Stephen R. Mut will present at the Oil and Gas Investment Symposium (OGIS) organized by the Independent Petroleum Association of America (IPAA) on Monday April 12, 2010, 4:10pm EDT at the Sheraton New York Hotel and Towers in New York City.

Interested parties are invited to listen to a live webcast of the presentation at:

http://www.corporate-ir.net/ireye/conflobby.zhtml?ticker=DEJ&item_id=2726420

Read more.


Dejour Highlights 2009 Year End Results

April 1, 2010

Dejour Enterprises released highlights for year-end 2009 in a press release on March 31, 2010 after the market closed. Dejour had a very productive 2009 and has come out of the gate strongly for 2010 as evidenced by their last two press releases.

Among the list of milestones achieved in 2009 Dejour announced the following:

  • Increased Net Proved Reserves by more than 3,100% from slightly more than 3 BCFE to more than 93 BCFE.
  • Increased Net Proved and Probable Reserves by more than 3,500% from slightly more than 6 BCFE to more than 217 BCFE.
  • Reduced debt from $18.3 million to $6.2 million and raised $5 million of equity under challenging market conditions
  • Annual production for 2009 averaged 456 BOE/d, an increase of 78% from 256 BOE/d in 2008

And subsequent to year end 2009, Dejour drilled two new discoveries (1.5 net) at Woodrush Northeast British Columbia, Canada. One is a Gething gas discovery on-line at approximately 1MMcf/d. The second is a light oil discovery currently producing in excess of 400 BOE/d, raising Woodrush gross production to more than 1,000 BOE/d, 50%+ oil (75% net to Dejour). Dejour plans to drill one to two more wells at Woodrush in 2010.

Dejour looks to be solidly back in the game with materially increased reserve/production numbers and plenty of drilling planned for 2010 and beyond. We have seen the stock rebound somewhat from recent lows but see plenty of additional upside to the Dejour story from here as they prepare to build out several existing production areas and explore several new prospect areas over the next few quarters. When the energy markets strengthen (and we feel that is only a matter of time as many analysts are predicting a decline in overall worldwide oil production over the next few years – which we expect to have a big effect on energy pricing) Dejour should be well positioned to further increase shareholder value going forward.

To view Dejour’s full 2009 highlight release click here


Dejour Oil Discovery Tests Over 500 Barrels of Oil per Day

March 23, 2010

CALGARY, Alberta–(BUSINESS WIRE)–Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ) today releases the results of a 24 hour production test of the new oil discovery at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia that was announced last week.

Production casing was set on Well A-1-I/94-H-02 after it encountered a Halfway oil pool and other productive horizons (See Dejour news release of March 17, 2010). This well was drilled to a newly defined seismic feature north of the original Woodrush oil discovery made in Dejour’s D-91-H well, in 2008. The A-1-I well was subsequently completed in the Halfway sand and flow tested in excess of 500 Barrels of Oil per day (BO/day) of light sour oil during a 24 hour test. Pipelines are now being laid to Dejour’s central production facility. Production is to commence prior to the end of March at initial rates between 300 and 400 BO/day.

This addition boosts the Woodrush gross production to over 1000 BOE/d, approximately 50% oil. Dejour is operator with a 75% WI.

Read More.


Dejour Records Two New Discoveries at Woodrush

March 17, 2010

Calgary Alberta, March 17, 2010 –– Dejour Enterprises Ltd. (NYSE-Amex: DEJ / TSX: DEJ) today announces new oil and gas discoveries at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia. Two wells were drilled based on the preliminary interpretation of a new 3D seismic program acquired and processed during this winter’s drilling season.

The first discovery (A-A91-H/94-H-02) was drilled to 4000′, encountered 8 meters of good quality (14% porosity) Gething Sand. The well was perforated on March 12, and flowed for four hours at rates as high as 950 thousand cubic feet per day during clean up operations. Gathering lines to the production facility are being laid with production to commence prior to month end at a production rate anticipated by management to be in excess of 1 million cubic feet gas per day. Management believes that this new gas discovery will be subject to a net 2% royalty under the new BC Government royalty incentive program for the first 12 months of production.

Read more.


Dejour Proved and Probable Reserves Increase by 215 Billion Cubic Feet Gas Equivalent in 2009

March 16, 2010

Key Piceance Basin Project’s Proved Undeveloped and Probable Reserves valued at Before Tax Net PV-10 of US$297 Million (net of capital, operating costs and local taxes)

Denver, Colorado, March 16, 2010 — Dejour Enterprises Ltd. (NYSE-AMEX: DEJ / TSX: DEJ), a high growth oil and natural gas company operating multiple exploration and production projects in North America’s Piceance / Uinta Basin and Peace River Arch regions announced the results of its year end reserve assessment for its wholly-owned subsidiary Dejour Energy (USA) Corp. The reserve evaluation was conducted by independent, global consultants Gustavson Associates LLC (“Gustavson”), of Boulder Colorado, a qualified resource evaluator, and was prepared in accordance with Canada’s National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities and the COGE Handbook. The forecast prices are based on December 31, 2009 NYMEX futures strips prices prepared by Gustavson and adjusted for the appropriate transportation differentials.

Read more.