PRESS RELEASE
DEJOUR ENTERPRISES LTD.:
AMEX:"DEJ"/ TSX-V: "DEJ"
FOR RELEASE:
August 29, 2007
Dejour Confirms its First Piceance Basin Natural Gas Discovery.
August 29, 2007 - Vancouver, Canada - Dejour Enterprises Ltd. (DEJ:
TSX-V/Amex: DEJ and D5R: Frankfurt) is pleased to announce that the N.
Barcus Creek #1-12 well has been successfully drilled to a total depth of
11,500'. The H & P Rig #159 commenced drill operations on August 16th and
over the past 2 weeks encountered encouraging gas shows. Mud logs indicate
both conventional gas sands above 7800' and targeted basin centred
reservoirs of the Mesa Verde group sands to total depth. Logging is
underway and when completed the Operator has elected to set casing following
which the rig will relocate to the nearby N. Barcus Creek #2-12 well to be
deepened to a projected TD of 11,425'.
Project partners (Dejour 25%) have contracted Haliburton Energy Services to
commence completion and testing of the #1-12 well shortly. The Operator
reports that the multiple indicated natural gas bearing zones located in the
Williams Fork and Isles sections of the Mesa Verde group sands, are very
similar to wells drilled and successfully completed on adjacent Exxon lands
by Williams Cos. Haliburton is one of the most technically advanced
completion experts in this deep basin centred area of Rio Blanco County,
north central Piceance Basin, having recently advised Williams Cos. on the
completion of its new wells offsetting the Dejour and partners N. Barcus
Creek acreage. Logging and completion results are forthcoming.
The Barcus Creek wells are the first wells to be drilled by Dejour and
partners on almost 300,000 acres of land holdings in the Piceance - Uinta
Basins respectively of Western Colorado and Eastern Utah, acquired since
July of 2006. The North Barcus Creek prospect is one of 3 separate land
holdings totaling over 5000 acres within the highly promising 'Rio Blanco
Deep' project area. Logs of a well drilled on this prospect in 1979, prior
to the advent of current completion technology, showed 260 ft. of potential
hydrocarbon bearing sands in the Upper Isles formation of the Mesa Verde
group.
Dejour and its partners initially plan to drill a total of 4 wells at N.
Barcus Creek. It is expected that these lands will be fully developed on 40
acre spacing units. Accessible pipeline facilities lay within one mile of
the lease boundaries.
This 'Rio Blanco Deep' project is one of over 60 separate exploration
projects held by Dejour (average interest over 25%) in its search for and
exposure to significant energy discovery in the hydrocarbon bearing basins
of Piceance/Uinta in Colorado/Utah and the Peace River Arch of NE British
Columbia/NW Alberta Canada, inclusive of the uranium bearing
Athabasca/Thelon Basins of Northern Canada through its holdings of Titan
Uranium (TSX-V: TUE) and associated carried/royalty interests.
Recently the Company announced its intent to purchase natural gas production
in Liberty County, Texas.
"This is the perfect time to make new discoveries of large quantities of
natural gas in the Piceance Basin. Not only are natural gas prices set to
bounce off their seasonal low for what we feel could be an extended rise,
but this discovery coincides with the completion of substantial new delivery
infrastructure in the Rio Blanco project area that will facilitate bringing
this gas to market in a timely fashion", states Bob Hodgkinson Dejour's
Chairman & CEO . "We look forward to Dejour and its partners accelerating
their investment/development strategies within these rich natural gas
basins".
R. Marc Bustin, Ph.D., P.Geol. FRSC is the qualified person for this news
release.
About Dejour
Dejour Enterprises Ltd. is a micro cap Canadian company focused on oil & gas
exploration and production with a significant investment in uranium
discovery. The company acquires high-impact energy assets and strategically
monetizes them to enhance shareholder returns.
The Company is listed on the TSX Venture Exchange (DJE.V), Amex (DEJ), and
Frankfurt (D5R). Dejour is a reporting issuer to the SEC. Refer to
www.dejour.com for company details or contact the Office of Investor
Relations at investor@dejour.com
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
This release includes certain statements that may be deemed to be
"forward-looking statements" within the meaning of the US Private Securities
Litigation Reform Act of 1995. All statements in this release, other than
statements of historical facts that address future production, reserve
potential, exploration drilling, exploitation activities and events or
developments that the Company expects, are forward-looking statements.
Although Dejour believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are not
guarantees of future performance and actual results or developments may
differ materially from those in the forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include uranium and oil and gas prices, well or
production performance, exploitation and exploration successes, continued
availability of capital and financing, and general economic, market or
business conditions. The Company expressly disclaims any obligation to
update any forward-looking statements. We seek safe harbor.
The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this news release.
Regards,
David Fry
Office of Investor Relations
Dejour Enterprises Ltd.
(Amex:DEJ, TSX-V:DEJ)
1100 - 808 West Hastings Street
Vancouver, BC V6C 2X4
Direct: 604- 638-5057
Toll Free: 1-866-888-8230
Dejour Enterprises Ltd. is the recipient of the 2007 TSX Venture 50,
which recognizes the top 10 companies in each of five major industry
sectors,
based on a ranking formula that includes revenue, return on investment,
market
cap growth and trading volume.
dfry@dejour.com
www.dejour.com
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