Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced an update on the oil production from the Halfway “E” Pool in Woodrush Field, Northern BC.
Further to our Woodrush Update of May 22, we are now able to report a full production month for May. Full month oil production in May averaged 269 Barrels of Oil per Day “BOPD” (gross) up more than 22% from the production level in March, 2012 and up 7% from the average production rate during the first half of May. Additionally, we can report that for the first six days in June gross production has averaged 319 BOPD, up an additional 18% from the average production rate for May. Total field production for the first six days in June averaged 630 Barrels Oil Equivalent per Day “BOEPD”.
Dejour is pleased to report that oil production continues to increase as the northern half of the reservoir nears fill up after more than one year of continuous water injection. Dejour currently expects field production to reach approximately 1,000 BOEPD (70% oil and 30% gas) by the end of 2012 if the company is able to continue to increase the oil rate from wells A-1-I and aB-1-I as planned. Well A-1-I, the northern most producing well in the pool has its production restricted to about 25% of current oil flow potential due to longer term reservoir management considerations.
About DejourDejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (approximately 100,000 net acres) and Peace River Arch regions (approximately 11,000 net acres). Dejour’s seasoned management team has consistently been among early identifiers of premium energy assets, repeatedly timing investments and transactions to realize their value to shareholders' best advantage. Dejour maintains offices in Denver, USA, Calgary and Vancouver, Canada. The company is publicly traded on the New York Stock Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).