Dejour Enterprises: A Growth Oil and Natural Gas Company

140,000 net acres of petroleum leases in premier N.A. production regions

Message: Dejour Oil Discovery Tests Over 500 Barrels of Oil per Day

Dejour Oil Discovery Tests Over 500 Barrels of Oil per Day

posted on Mar 23, 2010 11:38AM

Dejour Oil Discovery Tests Over 500 Barrels of Oil per Day

Company Anticipates Positive Operating Cash Flow from Woodrush

Calgary Alberta, March 22, 2010 -- Dejour EnterprisesLtd. (NYSE-AMEX: DEJ / TSX: DEJ) today releases the results of a 24hour production test of the new oil discovery at its 75% owned Woodrushproject in the Peace River Arch, NE British Columbia that was announcedlast week.

Production casing was set on Well A-1-I/94-H-02 after it encountered aHalfway oil pool and other productive horizons (See Dejour news releaseof March 17, 2010). This well was drilled to a newly defined seismicfeature north of the original Woodrush oil discovery made in Dejour’sD-91-H well, in 2008. The A-1-I well was subsequently completed in theHalfway sand and flow tested in excess of 500 Barrels of Oil per day(BO/day) of light sour oil during a 24 hour test. Pipelines are nowbeing laid to Dejour's central production facility. Production is tocommence prior to the end of March at initial rates between 300 and 400BO/day.

This addition boosts the Woodrush gross production to over 1000 BOE/d, approximately 50% oil. Dejour is operator with a 75% WI.

"We anticipate that the two new wells drilled and completed at Woodrushthis March will more than double the operating netback to the Companyfrom this field. For the foreseeable future, management anticipatesWoodrush will provide Dejour with a positive operating cash flow, acritically important milestone in our plan to exploit the much largerGibson Gulch Project in the Piceance Basin, Colorado," stated HarrisonBlacker, President and COO.

A third well planned for drilling in March was deferred in anticipationof an early end to the winter drilling season caused by unseasonablywarm weather. Dejour is currently updating the seismic interpretationof the Woodrush field with the new well information. Managementanticipates additional drilling at Woodrush over the near term.

Harrison Blacker M.Sc. M. Eng. is the qualified person for this release.
New Message
Please login to post a reply