PRESS
RELEASE
DEJOUR ENTERPRISES
LTD.:
Amex:DEJ/TSX-V:
DEJ
FOR RELEASE:
January
8, 2008
Dejour
Reports on Piceance Testing and Cases 3 New
Vancouver,
BC,
Robert L.
Hodgkinson, Chairman & CEO, is pleased to announce 3 new wells in
the Peace River Arch. These new wells
are part of the 2008 exploration program which was previously stated in the 12.12.07
press release. In addition, Dejour would
like to provide an update on the testing and completion of the Barcus #1-12,
and #2-12 in the
Piceance/
Testing and
completion operations continue at the North Barcus Creek prospect. The production
tubing is now being set at both the NBC #1-12 and #2-12, following respective
five and six stage fracture stimulation operations of the upper Cossette,
Corcoran and Williams Fork sand intervals. To date, from these zones, the wells
have been flowing back a combination of frac fluids, natural gas and gas
condensate through the well bore. Over 50% of the expected retrievable frac
fluid has now been reclaimed. Major
Colorado snowstorms and difficult weather conditions over the past 3 weeks have
impacted the expected pace of the completion of these wells.
Definitive
production testing is now underway. Plans are also proceeding to add
compression and lay flow lines approximately two miles to regional gathering
lines on the adjacent Exxon leases. Flow line ‘right of ways’ are already in
place. The operator is targeting the commencement of production by the end of
Q1-08.
Dejour is
now pursuing avenues to expand its timely exposure to natural gas discovery in
the
Peace River
Exploration
During the winter drilling season 07/08 Dejour has been successfully
executing on its exploration and development plan. To date the company has
drilled and set production casing in three new exploration wells in which
Dejour holds an average 90% working interest. Testing of these wells will
commence in early February.
Additionally,
as planned, drilling of a further two new exploration wells is in progress.
Results of this winter’s exploration drilling program will be analyzed in
preparation for further development and land acquisition.
Seismic
programs over two additional exploration acreages at Alderson (3D) and Kaybob
(2D) have now been recorded and are in the process of being interpreted.
The above
activities provide Dejour with the comfort that all its flow through fund
obligations for 2007 have been successfully fulfilled.
Development
At its
Drake Field extension discoveries, Dejour has now received the requisite
permits and licenses for the drilling of two new wells and is proceeding with
construction of these two well sites.
The planned
activity for this area includes:
1. The
drilling of a total of four wells to
test the Notekewin, Halfway, and other zones of potential sands around its now
100% owned discoveries of March/April
2007, and
2. The
laying of necessary pipelines to bring these discoveries and ensuing
development into production during the current operating season.
At its 30%
owned Saddle Hills discovery (March 2007), Dejour has
been informed by the operator:
1. Completion and tie in operations for
production will commence in early February
2. An offset well will be drilled prior
to break up in March 2008
Additionally,
Dejour, with its in-house seismic expertise, is working with the operator on
acquiring 3D seismic over the land held associated with this discovery that
will define the course of future development of this natural gas project.
Dejour is
currently on budget and on schedule with its Peace River Arch winter 2008
operations.
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
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