Dejour Announces July 2010
Woodrush Production
Q2-2010 Earnings to be released
August 16, 2010
Calgary,
Alberta, August 10, 2010 -- Dejour Enterprises Ltd.
(NYSE-AMEX: DEJ / TSX: DEJ) ("Dejour"), an independent oil and
natural gas company operating multiple exploration and production projects
in Northeastern British Columbia and Western Colorado, today announces high
volume crude oil and natural gas output in July from the Company's Woodrush
Project located in the Peace River Arch in British Columbia, Canada.
Gross project oil and gas production for the month of July was 28,271
barrels of oil equivalent (BOE), 91% of the production recorded in June.
This represents a 198% improvement over the benchmark average gross monthly
production of 9,500 BOE recorded during Q1-2010.
Daily
Production
July
2010 June 2010
By Product:
Natural Gas
2,610 mcf/d 2,672
mcf/d
Oil
477
bbl/d
554 bbl/d
Woodrush Total
912
boe/d
999
boe/d
Dejour 75% WI
684
boe/d
749
boe/d
Harrison Blacker, Dejour President and COO states, "Woodrush
production remained strong in July despite the D-91 oil well being shut in
for the majority of the month to meet OGC production allowable quotas. For
the balance of Q3, we expect gross production from the field to average
approximately 750 BOE/D as a result of the implementation of a production
allowable quota on the recently drilled well A-1-I, lowering its daily
output by 250 BOPD. These strong production results provide us with ever
increasing confidence to drill additional development locations beginning
at the end of September and finalize a waterflood production program which
should more than double the proven reserves of this robust Halfway oil
pool, effectively eliminating the production allowable quotas now in
place."
The Company will release its June 30, 2010 financial results prior to the
opening of trading on August 16, 2010.
About Dejour
Dejour Enterprises Ltd. is an independent oil and natural gas company
operating multiple exploration and production projects in North America�s
Piceance / Uinta Basin (109,000 net acres) and Peace River Arch regions
(20,000 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. Dejour maintains offices in Denver, USA, Calgary and Vancouver,
Canada. The company is publicly traded on the New York Stock Exchange Amex
(NYSE AMEX: DEJ) and Toronto Stock Exchange (TSX: DEJ).
BOE Presentation: Barrel of oil equivalent amounts have
been calculated using a conversion rate of six thousand cubic feet of gas
to one barrel of oil. The term "BOE" may be misleading if used in
isolation. A BOE conversion ratio of one barrel of oil to six mcf of gas is
based on an energy equivalency conversion method primarily applicable at
the burner tip and does not represent a value equivalency at the well head.
Total BOEs are calculated by multiplying the daily production by the number
of days in the period.
Statements Regarding Forward-Looking Information: This
news release contains statements that may constitute "forward-looking
statements" or "forward-looking information" within the
meaning of applicable securities legislation as they involve the assessment
that the reserves and resources described can be profitably produced in the
future, based on certain estimates and
assumptions, these forward-looking statements include but are not limited
to, the availability of funding for future projects, adverse general
economic conditions, operating hazards, drilling risks, inherent
uncertainties in interpreting engineering and geologic data, fluctuations
in oil and gas prices and prices for drilling and other well services,
government regulation, 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
securities law.
The TSX does not accept responsibility for the adequacy or accuracy
of this news release.
Robert L. Hodgkinson, Co-Chairman & CEO
Investor Relations � New York
598 � 999 Canada Place
Craig
Allison
Vancouver, BC Canada V6C 3E1
Phone: 914.882.0960
Phone: 604.638.5050 Facsimile: 604.638.5051
Email: callison@dejour.com
Email: investor@dejour.com
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