DEJOUR ENTERPRISES
LTD.:
Amex:”DEJ”/ TSX-V: “DEJ”
FOR
RELEASE:
September
25, 2007
Dejour’s 2nd
Piceance Basin Well Contains 254’ Net Pay
September 25, 2007
- Vancouver, Canada – Dejour Enterprises Ltd. (Amex: DEJ, TSX-V:DEJ and D5R: Frankfurt) is
pleased to report that the N. Barcus Creek #2-12 well contains an estimated 254
feet of potential net pay. Casing has now been set to total depth. This result
correlates positively with the 263 feet of potential net pay recently reported
in the adjacent N. Barcus Creek #1-12 well. Dejour’s owns 25% working
interest in each of the #1-12 and #2-12 wells.
Dejour engaged Gustavson Associates,
Boulder Co. (Geologists – Engineers – Appraisers) to conduct a
preliminary petrophysical analysis of the #2-12 well logs and it is their
interpretation that the reservoirs in the N. Barcus Creek #2-12 and #1-12 are
similar. Throughout drill operations the mud logs for each of the #2-12 and
#1-12 wells showed strong evidence of reservoir gas. Both wells were keyed off
the Federal #22-12 well drilled by Pacific Transmission Supply Co. in 1979,
which reported 260’ of possible gas pay.
Completion work on the N. Barcus
Creek #1-12 well has commenced. Results should be available within the
next 10 days. Completion of the #2-12 will follow immediately.
Dejour and its partners have been
advised by the operator that it plans to drill additional wells on this 1,590
acre N. Barcus Creek prospect, which forms part of the highly promising Rio
Blanco Project consisting of a total of 5,554 acres. Dejour holds a 25%
unpromoted interest in these lands and all actual exploration expenditures. The
operator reports that the cost of drilling the #2-12 and #1-12 wells has been
less than the original budgeted amount.
This N. Barcus Creek lease block
lies directly between a large Exxon lease block directly to the east and a
large lease block owned by EnCana to the west. The Exxon lands host four
recent natural gas resource discoveries drilled by Williams Cos. immediately
offsetting the Company’s leases. Exxon previously announced its
intention to drill 1000 wells on its leases in that area. Recently,
Conoco-Philips announced its intention to commence drilling the first of 800
wells on the EnCana lands, which are now subject to a Conoco-Philips joint
venture, early in 2008.
The N. Barcus Creek prospect has the
potential to initially drill up to 40 wells based on 40 acre spacing units with
further down-spacing to 10 acre units in the future. 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.
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 Amex (DEJ), TSX Venture Exchange (DEJ.V), 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.
Robert L.
Hodgkinson, Chairman & CEO
DEJOUR ENTERPRISES
LTD.
Suite 1100-808 West Hastings Street, Vancouver, BC Canada V6C 2X4
Phone: 604.638.5050 Facsimile:
604.638.5051 Email: investor@dejour.com
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