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Dejour
Enterprises Announces Analyst Coverage and Report by Zacks Investment
Research
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October 1, 2009, Vancouver,
Canada.
Dejour Enterprises Ltd. (NYSE AMEX: DEJ/TSX: DEJ) announces that Zacks Investment Research, an online financial
investment data provider, has initiated coverage of the Company. In
addition, Zacks has completed an independent report that projects an
initial 12-month target stock price for the Company’s common stock of
US$1.01, quoting that Zack’s believes the Company’s "key Piceance
Basin acreage [to be] at ground zero of bidding war".
This 24-page article outlines a comprehensive financial
analysis of the Company, including discounted cash flow estimates of the
intrinsic value of the Company’s oil and gas properties. On the basis
of only the present net asset value and without consideration of any future
cash flow from development, the Zacks report indicates that it believes the
Company’s shares are undervalued.
The Company’s Chairman & CEO,
Robert L.
Hodgkinson, comments that "this first independent research report
serves to profile our solid asset base that management believes will
deliver strong incremental value to our stakeholders. We will be
commencing the Peace River Arch winter oil drilling this fourth quarter,
which we anticipate will substantially impact Dejour’s valuation over the
next six months. The recognition provided by Zacks Investment
Research in its report and continued coverage will certainly corroborate
our efforts and document our growth not only for the period upon us, but
continually during the resurgence of the North American natural gas markets
over the next several years".
The report was written by independent financial analyst,
Richard
R. Wolfe,
CFA. A copy of the report can be obtained for a fee at www.zacks.com.
About Dejour
Dejour Enterprises Ltd. is a high growth oil and natural
gas company operating multiple exploration and production
projects in North America’s Piceance / Uinta Basins
(128,000 net acres) and Peace River Arch region
(15,000 net acres). Dejour’s veteran 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. Current production is from less
than 4000 acres of the Company's 143,000 net acres of landholdings.
Dejour, headquartered in Vancouver,
Canada, maintains
operations offices in Denver, Colorado
and Calgary, Canada.
The company is publicly traded on the New York Stock Exchange Amex (NYSE-
Amex: DEJ) and Toronto Stock Exchange (TSX: DEJ).
Statements Regarding
Forward-Looking Information: This news release contains statements about
oil and gas production and operating activities that may constitute
"forward-looking statements" or "forward-looking
information" within the meaning of applicable securities legislation
as they involve the implied assessment that the resources described can be
profitably produced in the future, based on certain estimates and
assumptions. Forward-looking statements are based on current expectations,
estimates and projections that involve a number of risks, uncertainties and
other factors that could cause actual results to differ materially from
those anticipated by Dejour and described in the forward-looking
statements. These risks, uncertainties and other factors include, but are
not limited to, adverse general economic conditions, operating hazards,
drilling risks, inherent uncertainties in interpreting engineering and
geologic data, competition, reduced availability of drilling and other well
services, fluctuations in oil and gas prices and prices for drilling and
other well services, government regulation and foreign political risks,
fluctuations in the exchange rate between Canadian and US dollars and other
currencies, as well as other risks commonly associated with the exploration
and development of oil and gas properties. Additional information on these
and other factors, which could affect Dejour’s operations or financial
results, are included in Dejour’s reports on file with Canadian and United
States securities regulatory authorities.
We assume no obligation to update forward-looking statements should
circumstances or management's estimates or opinions change unless otherwise
required under applicable securities laws. The TSX does not accept responsibility for the adequacy or
accuracy of this news release.
Robert L.
Hodgkinson, Chairman & CEO
DEJOUR ENTERPRISES LTD.
598 – 999
Canada Place,
Vancouver, BC
Canada V6C
3E1
Phone: 604.638.5050
Facsimile: 604.638.5051
Email: investor@dejour.com
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Disclaimer: The
third-party link provided on this e-mail is provided solely for
convenience of the reader. Dejour assumes no responsibility for the
accuracy or completeness of information accessed through the link. We seek
safe harbor. Confidentiality Warning: The content of this transmission is
confidential information intended only for the recipient. All other
recipients are prohibited from disclosing, copying, distributing or taking
any action in reliance on the contents. If you are not the intended recipient,
please notify the sender immediately. Thank you.
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