Dejour Reports 78% Q3 Production Gain
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DENVER--October 7, 2011: Dejour Energy Inc. (NYSE AMEX: DEJ / TSX: DEJ) announced today rising preliminary sequential oil and gas production results (net of shrinkage, flared gas and site fuel) for the third quarter, ending September 30, 2011.
“Combined with the recently announced approval for development of the liquids-rich Gibson Gulch property located adjacent to production by both Bill Barrett Corporation and Williams Cos. , Dejour is increasingly well positioned to realize on its valuable asset base”
| Preliminary Production Figures | ||||||||||||
| (75% Working Interest) | 2011 Q3 | 2011 Q2 | Change | |||||||||
| Oil (barrels per day) | 326 | 185 | 76% | |||||||||
| Natural Gas (mcf per day) | 1,120 | 614 | 82% | |||||||||
| Average BOE per day | 512 | 287 | 78% | |||||||||
"We are pleased to report on the production increase resulting from the successful waterflood implementation at our Woodrush project. We expect our Q4 production to continue to increase averaging in excess of 600 BOE per day with 57% oil. Pending approval by the BC Oil and Gas Conservation Commission of our application to increase injection and projection rates from the Halfway pool, we will drill another oil producer before year end, further increasing Dejour's net production an additional 200-300 BO per day by early Q1 2012," asserts Harrison Blacker, President.
"Combined with the recently announced approval for development of the liquids-rich Gibson Gulch property located adjacent to production by both Bill Barrett Corporation and Williams Cos. , Dejour is increasingly well positioned to realize on its valuable asset base," Blacker concludes.
About Dejour
Dejour Energy Inc. is an independent oil and natural gas company operating multiple exploration and production projects in North America's Piceance Basin (107,000 net acres) and Peace River Arch regions (15,000 net acres). Dejour's seasoned 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).