PRESS RELEASE
DEJOUR ENTERPRISES
LTD.: TSX-V:
“DJE”/OTC BB:”DJEEF”
FOR
RELEASE:
May 3, 2007
Second Natural
Gas Discovery for Dejour In Peace River Arch
Vancouver, British Columbia, Canada, May 3,
2007 – Dejour Enterprises Ltd. (“Dejour”) (TSX-V:
“DJE”/OTC BB: DJEEF) Robert L. Hodgkinson, Chairman &
CEO is pleased to announce drilling results from a second prospect within its
Peace River Arch exploration program have resulted in another successful gas
well, representing a significant new discovery for Dejour in this prolific
hydrocarbon area of NW Alberta and NE British Columbia.
Dejour holds a 30% working interest in 6 sections (3,840
acres) of land on which the first test well has now been successfully drilled
and cased. The Company is very pleased with the testing of a secondary upper
zone resulting in flow rates exceeding 1 mmcf/day (1,000 MCF/day). The
Operator will perform testing of the primary formation through casing with
stimulation as soon as ground conditions permit, expected prior to the end of
Q2-2007. Wells in the immediate area generally produce from this main zone at
rates ranging from 1.5mmcf/day to over 3 mmcf/day. Completion and tie in of
this well is anticipated in Q3- 2007. Exploration and development drilling of
up to 5 additional wells on current land holdings surrounding this discovery is
anticipated to evaluate both the extension of the productive formations proven
by this discovery and additional formations thought to be highly prospective in
this area. The Company and the operator expect to expand their collective land
position in this discovery area as soon as possible. As a result details
identifying the specific location are being withheld at this time.
One MCF is roughly equivalent to 1mmBTU which is the quoted
gas contract on the New York Mercantile Exchange (NYMEX). Current price is
approximately US$7.94 per mmBTU.
This is the second significant discovery in 2007 made by
Dejour in the Peace River Arch of Alberta and British Columbia. Dejour plans
to follow up on the first two successful wells drilled at Drake B.C. with two
more development wells in Q4-2007 and then evaluate further prospectivity in
2008.
The Company is currently active on 5 additional exploration
projects in the Peace River Arch, one of the Company’s’ three main
exploration focus areas.
Charles W.E. Dove, B.Sc. P.Geoph. is the qualified person
for this 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 through partnerships and co-ventures
to limit exposure and enhance returns.
Dejour has significant holdings in three of the world's
premiere energy resource regions. This includes 288,000 gross (60,000 net)
acres in the Piceance and Uinta Basins, a vast natural gas play in North
America; and a major interest in Titan Uranium Inc. (TSX-V: TUE), with 1.44
million acres in the Athabasca and Thelon Basins, the world's most recognized
areas for uranium exploration. Finally, the company is pursuing high impact
natural gas opportunities in Canada's
Western Sedimentary Basin,
known as the Peace River Arch Projects, comprising of 49,000 gross acres.
The Company is
listed on the TSX Venture Exchange (DJE.V), OTCBB (DJEEF), 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
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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