This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Dejour Energy Inc. Operations Update Q1 2013

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 provides an update on field operations at its Woodrush oil production facility, Northern BC and its Piceance properties in Western Colorado.

Peace River Arch, NE BC:

Further to our Woodrush Update in Q2 2012, we are now able to report that current February oil production is averaging 350 Barrels of Oil per Day “BOPD” (gross) up more than 40% from the average oil production rate in 2012. Currently, gross field production is averaging 500 Barrels Oil Equivalent per Day “BOEPD.” Dejour currently owns 75% of this production.

“Dejour is pleased to report that oil production continues to increase after more than one year of continuous water injection and remediation work. The focus of activity at Woodrush now is to improve on recent production levels while continuing to reduce monthly operating costs,” says Hal Blacker, Dejour COO.

Piceance Basin, NW Colorado:

At the Company’s South Rangely project, the discovery well is on line producing at the contract sales rate of 250 MCF/d. The Company plans include a review of expansion alternatives with a view to initiate the drilling of an Hz production well by mid- 2014. Dejour maintains a 70% interest in the balance of this unit.

At the Company’s 72% owned Kokopelli project, preparations are underway to drill and case three additional wells and complete four wells into pipe. All necessary permits have been issued for this phase of development. The drill rig has been contracted to move in on the 18 th of March, with an anticipated initial well spud date of the 22 nd of March. Dejour, as operator, will be drilling 100% of these 3 new wells, in conjunction with the drilling fund capital previously announced.

Of significant interest to the Company is a recent announcement by WPX Energy of a successfully completed Lower Mancos (Niobrara) Hz producer, in Garfield County, that has averaged 12 MMCF/d of restricted flow production during the first 30 days. Additionally, WPX has announced its intention to drill 2 additional Hz wells in 2013. This is the 14 th Mancos Hz to be drilled, completed and tested in the Piceance. Other Mancos HZ wells are in various stages of evaluation. The encouraging production results of these new wells indicate that the Piceance Basin recoveries, including the Niobrara/Mancos, offer the potential to at least double the net reserves available here, with improved economics. WPX has recently iterated that the Piceance continues to demonstrate that it is a ‘world class asset’ region. Dejour has over 7,500 net acres of land prospective for Niobrara/Mancos contingent resources in this Basin. This current WPX discovery is situated between Dejour’s Kokopelli and Roan Creek leaseholds.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin and environs (approximately 129,000 net acres) and Peace River Arch regions (approximately 8,500 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).

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,979.13 +59.54 0.35%
S&P 500 1,986.51 +4.91 0.25%
NASDAQ 4,526.4820 -1.0320 -0.02%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs