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Dejour Energy Ltd.

Publié le 17 juillet 2008

Increases Peace River Arch Reserve Valuation

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Dejour Increases Peace River Arch Reserve Valuation

Calgary, Alberta, July 17, 2008 :  Dejour Enterprises Ltd., (Amex: DEJ, TSX-V:DEJ) an oil and natural gas exploration and production company, today announced an update to its National Instrument 51-101 compliant reserves and pre-tax cash flow estimates from selected Peace River Arch projects. 

A Reserve Assessment and Evaluation of Select Oil and Gas Properties Report prepared by Calgary based GLJ Petroleum Consultants, as of June 30, 2008, provides the following revisions to their previous report, effective December 31, 2008.  All figures are reported in Canadian dollars. 

The updated 51-101 report by GLJ Petroleum Consultants will be available on www.sedar.com and www.dejour.com.  Readers are cautioned that estimated values disclosed do not necessarily represent fair market value. All GLJ figures are pre-tax, net of royalties and all operating costs. 

Highlights are as follows:

Reserve Values based on GLJ 2008 Price Deck Forecast

NPV Discounted at 10%

December 31, 2007

June 30, 2008

 

Forecast Production Netback Prices

 

$3.49 / Mcf for gas, average $22.07/boe

 

$6.65 / Mcf for gas, $126.64 / bbl for oil: average $56.02/boe

 

Proved Reserves

 

$1.06M

 

$32.0M

 

Probable Reserves

 

 

$2.21M

 

 

$26.2M

 

Total Proved and Probable Reserves (2P)

 

$3.27M

 

$58.2M

 

 

 

Total 2P Barrels of Oil Equivalent (BOEs) Reserves net of royalties

 

416,000

 

1,225,000


Reserve Values based on Constant Prices (SEC Case)

NPV Discounted at 10%

December 31, 2007

June 30, 2008

 

Constant Price

 

$3.39 / Mcf for gas: average $21.58/boe

 

$6.73 / Mcf for gas, $134.44 / bbl for oil: average $57.90/boe

 

Proved Reserves

 

$0.372M

 

$41.3M

 

Probable Reserves

 

 

$1.80M

 

 

$36.0M

 

Total Proved and Probable Reserves (2P)

 

$2.17M

 

$77.3M

 

 

 

Total 2P Barrels of Oil Equivalent (BOEs) Reserves net of royalties

 

419,000

 

1,248,000

 

These updated figures continue to validate Dejour�s 2008 exploration and development strategy. The Canadian operation has added considerable oil reserves to benefit from high oil prices while continuing development of its natural gas projects. This has resulted in an increase from 5% NGL�s / 95% Natural Gas, to 53% Light and Medium Crude Oil and NGL�s (Natural Gas Liquids) / 47% Natural Gas.

�Currently four of the ten wells tested and independently evaluated for production are on stream. The balance is being prepared for production in Q3-08, with design capacity to accommodate the next round of development. One of the 2008 oil discovery areas has a current 2P valuation of approximately $40MM based on primary recovery and restricted initial production rates. However, a nearby analogous pool has already shown a 100% plus increase in estimated ultimate oil recoveries (EUR's) through the utilization of secondary recovery techniques. Dejour has commenced design work to utilize these techniques, when appropriate, to further raise its EUR from this pool.  As Dejour's other discoveries are brought on stream in Q3 2008, development plans will be finalized for the upcoming fall and winter," says Charles Dove, President of Dejour Energy, Alberta.

Robert Hodgkinson, Dejour Chairman and CEO commented, �GLJ's revised valuation of 2P Reserves has grown 2.97 times from Q4, 2007. This, combined with higher prices for energy and the increase in bias towards oil, is responsible for pre-tax cash flow estimates much better than previously anticipated. The Company's Peace River Arch projects have now proven to be an excellent platform for Dejour to initiate extensive resource exploitation programs on over 143,000 net acres of oil and natural gas leases well positioned in key US Rocky Mountain and NE BC / NW Alberta energy regions.�

Charles E. Dove, P. Geophysics is the qualified person for this report. 

BOEs [or 'MmcfEs' or other applicable units of equivalency] may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1 bbl [or 'An McfGE conversion ratio of 1 bbl: 6 Mcf'] is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead.

About Dejour

Dejour Enterprises Ltd. is a micro cap Canadian company creating shareholder value through a balance of exploration, development, production and monetization of strategic North American energy properties including oil, natural gas and uranium. 

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  

Statements Regarding Forward-Looking Information:   Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and Canadian securities legislation including information respecting the reserves, expected future production levels, future prices, royalties, work plans, and anticipated total oil recovery . Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially.  Statements containing forward-looking information express, as at the date of this news release, the Company's plans, estimates, forecasts, projections, expectations, or beliefs as to future events or results and are believed to be reasonable based on information currently available to the Company. Exploration for oil and natural gas is a speculative business that involves a high degree of risk. There is no assurance that estimated values of reserves will be realized. The Company�s expectations for its operations are subject to a number of risks in addition to those inherent in oil production operations, including: that oil prices could fall resulting in reduced returns and a change in the economics of the project; delays associated with equipment procurement, equipment failure and the lack of suitably qualified personnel; the inherent uncertainty in estimation of reserves; changes in the political or economic environment and failure to receive regulatory approvals . Production and NPV estimates are based on a number of assumptions including availability of the necessary equipment, personnel and financial resources to sustain the Company's planned work program; no material adverse changes in the applicable royalty regime, the absence of unplanned disruptions; the ability of the Company to successfully bring production to market; and general risks inherent in oil and gas operations.  Dejour assumes no obligation to update this information.  There can be no assurance that future developments affecting the Company will be those anticipated by management.  Forward-looking statements and information are subject to a number of other risks and uncertainties described under �Risk Factors� in the Company's Annual Information Form, Annual Report on Form 20-F filed with the US Securities and Exchange Commission and Management�s Discussion and Analysis.

 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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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.
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Dejour Energy Ltd.

EXPLORATEUR
CODE : DEJ.V
ISIN : CA24486R1038
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Dejour Energy est une société d’exploration minière et de pétrole basée au Canada.

Dejour Energy détient divers projets d'exploration au Canada.

Son principal projet en production est WOODRUSH au Canada et ses principaux projets en exploration sont R-SEVEN, SAND HILL, PEACE RIVER ARCH, FLEMING et GARTNER LAKE au Canada.

Dejour Energy est cotée au Canada, au Royaume-Uni, aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 17,9 millions CA$ (13,7 millions US$, 11,0 millions €).

La valeur de son action a atteint son plus haut niveau récent le 31 décembre 2007 à 2,76 CA$, et son plus bas niveau récent le 10 octobre 2008 à 0,33 CA$.

Dejour Energy possède 36 509 953 actions en circulation.

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Présentations des Compagnies de Dejour Energy Ltd.
18/02/2009’s New Corporate Presentation and Webcast
Dans les médias de Dejour Energy Ltd.
20/06/2007Ranked in the Top 50 Public Venture Companies by the TSX in ...
Rapports annuels de Dejour Energy Ltd.
Annual Report 2007
Financements de Dejour Energy Ltd.
07/06/2012Closes US$ 4.7 Million Equity Offering
22/10/2009Completes Second Tranche of Flow Through Financing
28/09/2009to Privately Place C$2 Million Flow-Through
25/05/2007Raises $10 million, Closes Private Placement
Attributions d'options de Dejour Energy Ltd.
02/11/2007 to Re-price and Issue Stock Options
Nominations de Dejour Energy Ltd.
10/04/2013Accepts Devine Resignation
07/01/2009Rebrand Reflects New Appointments and Operational Success
26/03/2008Appoints Harrison F. Blacker to Head US Oil & Gas Operations...
Rapports Financiers de Dejour Energy Ltd.
14/08/2009Quarterly Financial and Operating Results
Projets de Dejour Energy Ltd.
13/05/2013Readies for Initial Kokopelli Production
06/05/2013Commences Drilling 4th Kokopelli Well
01/04/2013Resumes Drilling at Kokopelli
21/09/2012Adds to NW Colorado Exploration Leaseholds
08/06/2012(Woodrush)on Woodrush Production
26/05/2011(Woodrush)Preliminary Scoping Study Suggests 1.3 Million BO Remain Rec...
08/07/2010Announces Strong June 2010 Production Results
07/06/2010(Peace River Arch)Announces May 2010 Record Production Results
06/08/2009(Peace River Arch)Improves Operational Efficiencies at Peace River Arch
Communiqués de Presse de Dejour Energy Ltd.
24/04/2013Sets Casing at Kokopelli
19/02/2013Operations Update Q1 2013
28/01/2013David Matheson Appointed CFO=2C Dejour Energy Inc.
07/11/2012Reports Q3 2012 Revenue of $1.55 Million
25/09/2012Successfully Drills Initial Kokopelli Well to 8440=E2??
04/09/2012Moves Drill Rig to Kokopelli Leasehold
14/08/2012Reports Q2 2012 Revenue of $1.77 Million
22/05/2012(Woodrush)on Woodrush Waterflood
15/05/2012Reports Q1 2012 Revenue of $1.93 Million
31/03/2012Reports Q4 2011 Revenue of $2.5 Million
29/07/2011(Gibson Gulch)Public Comment Commences at Gibson Gulch
13/07/2011Noverra Research Analysts Initiate Independent Coverage of D...
09/05/2011Chairman's Letter
04/05/2011(Woodrush)Increases Woodrush Landholdings
31/03/2011Highlights 2010 Year End Results
24/03/2011Becomes Dejour Energy Inc.
16/08/2010Announces $559K Operating Cash Flow for Q2 2010
10/08/2010Announces July 2010 Woodrush Production
14/10/2009Closes First Tranche of 2009 FT Financing with MineralFields
01/10/2009Announces Analyst Coverage and Report by Zacks Investment Re...
17/08/2009Gibson Gulch Value Substantiated by Williams Co. Purchase of...
26/06/2009Retains Key Strategist / Balances Board of Directors
03/03/2009Provides Piceance Operations Update
09/02/2009Extends Leadership Expertise with New Director
06/01/2009Chairman's Message
17/12/2008Expects 2008 Production Exit At 1000 Boe Daily
19/11/2008To Trade on TSX November 20, 2008
17/11/2008Selects Laramie Energy Llc To Joint Venture In The Piceance ...
11/11/2008To Present at Rodman & Renshaw Conference in NYC, Tuesday No...
03/11/2008To Present At Two Leading Energy Conferences
02/10/2008To Present at IPAA Oil and Gas Investment Symposium
22/09/2008Retains Porter, LeVay & Rose, Inc.
18/09/2008ADDS TWO NEW WELLS AT WOODRUSH PROJECT
04/09/2008Announces Management Changes
25/08/2008Secures $7,000,000 Bank Line for Peace River Arch Winter Dri...
18/08/2008Grows 'Montney' Block - Targets Royalty Free Oil
22/07/2008Acquires Additional 'Montney' Lands in NE BC
17/07/2008Increases Peace River Arch Reserve Valuation
20/06/2008Successful in NE British Columbia Montney Land Sale Purchase
18/06/2008to Drive Development with Rocky Mountain Region Acquisition
23/04/2008Profiled on Latest "Morning Notes"
14/04/2008Provides Update on Investment in Titan Uranium
05/04/2008Flows First Natural Gas from Peace River Arch
06/03/2008Completes Winter Drilling in Canada's Peace River Arch, Anti...
20/02/2008Tests More Gas at Peace River Arch as Natural Gas Prices Cli...
12/02/2008Sees Leverage in Titan Uranium - Japan Oil, Gas and Mining (...
11/02/2008On Track for Natural Gas Production in Canada's Peace River ...
22/01/2008's Success Continues at Drake in Canada's Peace River Arch
22/01/2008 Makes New Discoveries in Canada's Peace River Arch
08/01/2008 Reports on Piceance Testing and Cases 3 New Peace River Wel...
13/12/2007 Updates Peace River Arch/ Piceance Drilling and Completion ...
06/12/2007 Webcast Alert
26/10/2007 Updates Piceance and Peace Arch Projects
25/09/20072nd Piceance Basin Well Contains 254' Net Pay
19/09/2007Updates Drilling/Completion for Piceance and Peace Arch Pros...
05/09/2007Piceance Basin Well Contains 263' Net Pay
29/08/2007Confirms its First Piceance Basin Natural Gas Discovery.
10/08/2007 Market Opportunity
09/08/2007Updates Piceance Barcus Creek Drilling Program
25/07/2007Expands E&P Activity in Canada's Peace River Arch
13/07/2007Updated Valuation Report by Khandaker Partners
05/07/2007Revisits Tinsley
21/06/2007Primed for Piceance-Uinta Drilling Program
18/05/2007Lists on the American Stock Exchange - Trading Symbol “DEJ”
03/05/2007Second Natural Gas Discovery for Dejour in Peace River Arch
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TSX-V (DEJ.V)AIM (DEJ)
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