Shareholders Message January 6, 2009
Dejour 2009 Strategy
Due to the success of our programs in Alberta and British Columbia, we enter 2009 in a fundamentally strong position. With 1000 BOE of production coming on line in 2008 our operation is now self sustaining and we are well positioned to take advantage of an expected increase in commodity prices and in the recovery of the financial markets in 2009. We currently have no pending obligations or deadlines to meet from an operating viewpoint. On all of our leases of interest we have ample time to explore and develop, our financing lines are in order, and management is dedicated to carefully managing expenditures and overheads as we face the current tight credit and low product price period.
With a NAV currently about 2 X our share price, minimizing equity dilution in the current environment is paramount. Navigating tough environments requires innovative thinking. We are pursuing a number of avenues that should enable us to continue our growth in 2009 while managing our exposure to financial risk and commodity prices swings. Our strategy moving forward will be to take advantage of the opportunities that present themselves as the industry and the economy recover from the financial shocks of 2008.
In Canada's Peace River Arch Region our goals are:
1. To focus on maximizing the income stream from our producing properties in the Peace River Arch.
2. To economically develop the balance of the Woodrush oil project for 2009 production. Plans include one to four additional wells to maximize our re
‐investable cash flow by Q2‐ 09.
3. To test through an existing well bore the porosity and flow potential of the 'Montney' gas zone over our 6350 acres of landholdings in NE BC. And if conclusive, prepare for production drilling in late 2009.
In the US Piceance
Uinta Basin our goals are:
1. To continue to verify the significant proven undeveloped reserve values (target over 200 BCF net) on certain of our Williams Fork properties through the drilling of a maximum of 4-
6 wells at our Gibson Gulch and Roan Creek leases.
2. Complete the assessment of the geological potential of the balance of 88,000 acres of company lands.
3. Entertain industry partners on certain properties to raise drilling capital, gain third party recognition of property values and advance the time frame for value realization.
Your continued support in Dejour is most appreciated. We look forward to continue delivering value to our shareholders in 2009.
