Dejour Provides Woodrush Project
Update
Improving
Production and Seismic Program Completion
Vancouver Canada,
January
2
7
, 2010
--
Dejour Enterprises Ltd.
(
NYSE-AMEX: DEJ / TSX: DEJ)
today announce
s
that
the expansion of compression facilities
at its
75
% owned
Woodrush
project
in the Peace River Arch, NE British
Columbia has
been completed
and
is expected
to
result in increased
gross
p
roduction
for the project
of approximately 1,20
0
MCF per day
(200
BOE per day
)
when reconnected to the Spectra
pipeline b
y month
end.
Operational enhancements
,
combined with
better
terms for transportation and sales,
is expected to
increase overall
gross
production
for the project
to
approximately
650
BOE per day
with netbacks per
barrel of oil equivalent
targeted to improve
by
a
n estimated
15
percent
.
“
The operational enhancements
achieved
allow us to maximize our existing
production from this project,”
said
Hal Blacker
,
President and COO
of Dejour.
”
This ad
ditional cash-flow will
assist in the
support
of
our drill program
for
2010
,
including 3 wells to
be
drilled/completed during Q1 at
Woodrush
"
.
As part of the development plan for
Woodrush
,
Dejour
has now
acquired and
is
currently
processing a $1 million,
three
-component
,
3D seismic program. Processing of
th
is
seismic dat
a is targeted to be completed mid to
late February 2010. Dejour anticipates the results of
the seismic survey will
allow
the Company to
confirm
addition
al targets for development
drilling
. The Company also expects to
define future development
locations ove
r the entire
Woodrush poo
l,
possibly extend
ing
the pool to both the north and south of
the discovery well
over a
maximum of
three
sections of land.
Additionally, a best possible completion profile will be developed for
well
D-81, drilled in December
09
, wh
ich reached its target in a high quality
Halfway sand, containing approximately
two
meters of crude oil and
three
meters of natural
gas.
A drilling rig is currently
on-site
at
Woodrush
and completion of
the 2009-10 drilling program is targeted for the end
of March 2010.
The Woodrush project currently consists
of
six
natural gas
and oil
wells
with
as
sociated production facilities.
Dejour is the operator of
this project
.
About
Dejour
Dejour Enterprises Ltd. is a high growth
crude oil and natural gas company operating multiple exploration and
production projects in North America’s Piceance / Uinta Basin
(127,000 net acres) and Peace River Arch regions
(18,000 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.
Dejour, maintains offices in
Denver,
USA,
Calgary
and Vancouver,
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-lo
o
king 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, re
d
uced 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 i
n
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 sec
u
rities 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: 604.6
38.5051
Email:
investor@dejour.com
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