Dejour
Announces Quarterly Financial and Operating Results
Total
Liabilities Reduced by $9.7M
Oil &
Gas Revenue of $1.7M in Q2 2009
Vancouver Canada, August 14,
2009
-- Dejour Enterprises Ltd. (NYSE- Amex: DEJ / TSX:
DEJ) reports it has filed its quarterly
documents with regulatory authorities today. The Company continues to
deliver on its promise to strengthen its balance sheet in anticipation of a
solid recovery in energy assets. Highlights for the quarter include:
* The
Company�s total liabilities significantly reduced by 54% to $8.2M as at
June 30, 2009 from December 31, 2008 as at $17.9M
*
Cash proceeds from asset sales of $4.2M, utilized to pay down its bank line
of credit and retire debt
*
Subsequent to quarter-end, Dejour realized an additional $1.26M from asset
sales
*
General and administrative expenses decreased by $137,000 to $972,294,
compared to the same period ended June 30, 2008
* Total
oil & gas revenue of $1.7M in Q2 2009
* About
30% of production is from oil on a per barrel-of-oil equivalent (BOE) basis
* 54% of
revenue derived from oil sales
The
Company intends to further reduce debt through divestiture of noncore
assets, fortifying its balance sheet to focus on developing projects that
can generate revenues and cash flows in a lower priced commodity market. Furthermore,
as part of Dejour�s overall strategy to conserve cash and effectively
exploit its low risk, high value projects, the Company�s top management and
certain staff members continue to defer at least 15% of their compensation
in 2009.
For
more information and for Dejour�s detailed quarterly reports, please visit
SEDAR or the Company�s website at http://www.dejour.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 securities law.
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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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
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recipient, please notify the sender immediately. Thank you.
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