PRESS RELEASE
DEJOUR ENTERPRISES
LTD.:
Amex:DEJ/TSX-V:
DEJ
FOR RELEASE:
January 22, 2008
Dejour has
now logged its third well at its Drake Field extension. Log analysis has
confirmed > 6 meters of natural gas bearing Notekewin sands
with porosities as high as 24%. Dejour has a 100% working interest (WI) in this
Drake Field extension project. Once pipe has been set, Dejour will establish
flow rates and prepare for completion and hook up.
The Drake
drill rig will immediately move to well location #4, which has been cleared.
This well will test not only the Notekewin sands present in the first three
wells, but also deeper zones including the Halfway, which show potential on the
interpretation of the 3D seismic coverage purchased over the Dejour working
interest lands. The Halfway zone in an
adjacent well of recent vintage initially produced flow rates of 3.7mmcf/d
rising to over 5mmcf/d (million cubic feet per day) natural gas, according to
government documents registered on Accumap.
Reservoir
engineering calculations on these properties will be forthcoming prior to the
end of February. Further development will follow.
To date
Dejour in the Peace River Arch, Dejour has drilled five successful wells, now
being prepared for production, five additional exploration wells now in the
process of being tested for commerciality and have five more wells to drill
(four offsetting discoveries), test and hook up prior to break up, expected by
the end of March.
This latest
logged well positions Dejour to continue the targeted production rates of >
10mmcfe (million cubic feet of gas equivalent) / per day natural gas to its WI
interest from these operations by the end of Q1-08.
BOEs [or
'McfEs' or other applicable units of equivalency] may
be misleading, particularly if used in isolation. A BOE conversion ratio of 6
Mcf: 1 bbl [or 'An McfGE conversion ratio of 1 bbl: 6
Mcf'] is based on an energy equivalency conversion method primarily applicable
at the burner tip and does not represent a value equivalency at the wellhead.
Charles
Dove, P. Geoph. is the
qualified person for this report.
About Dejour
Dejour
Enterprises Ltd. is a micro cap Canadian company creating real shareholder
value through a balance of exploration/development, production/development and
monetization of strategic North American energy properties -including oil,
natural gas and uranium.
The Company is listed on the Amex (DEJ), TSX
Statements Regarding Forward-Looking
Information:
Some statements contained in this news release are forward-looking
statements within the meaning of the Private Securities Litigation Reform Act
of 1995. Investors are cautioned that forward-looking statements are inherently
uncertain and involve risks and uncertainties that could cause actual results
to differ materially, including comments regarding the expectation that the
offering will be completed consistent with the terms outlined above and use of
proceeds from this transaction. Actual
results may differ materially from those presented. Factors that could cause results to differ
materially include fluctuations in oil, gas and uranium prices, changes in U.S.
and Canadian securities markets and failure to receive regulatory
approvals. Dejour assumes no obligation
to update this information. There can be
no assurance that future developments affecting the Company will be those
anticipated by management. Please refer to the discussion of risk factors in
our Form 20-F for 2006, as amended.
The TSX
Venture Exchange does not accept responsibility for the adequacy or accuracy of
this news release.
Robert L. Hodgkinson, Chairman & CEO
DEJOUR ENTERPRISES LTD.
Phone: 604.638.5050 Facsimile:
604.638.5051 Email:
investor@dejour.com