Dejour Updates Kokopelli Drilling Status
October 09 2014 - 5:05PM
Business Wire
Spuds 1st Production Well of
the 2014 Program
Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ)
(“Dejour” or the “Company”), an independent
oil and natural gas exploration and production company operating in
North America's Piceance Basin and Peace River Arch regions,
updates current development progress underway at the Kokopelli
Project (“Kokopelli”).
The Frontier-28 rig has completed drilling and casing the water
disposal well on Pad 21A, vital to the economics of the ongoing
Kokopelli production programs. The rig has now been moved to Pad
21B, less than 500 yards away, where it has successfully spud the
Federal 14-15-1-21 well (a Williams Fork test with a projected
depth of ~8500’), the first of eight new production wells to be
drilled, logged and cased sequentially prior to fracking,
completion and tie-in operations to our contracted gathering
facilities.
Dejour owns a 25% working interest in the Kokopelli Project and
is carried for 25% of the first US$16 million in expenditures. To
date the program is on time and on budget. Additional information
will be provided as available.
“We remain focused on building a significant, liquids-rich
producing resource that highlights our Colorado-based holdings.
Upon successful fracture stimulation of the wells, we anticipate
entering 2015 with an attractive U.S. production profile and a plan
for an aggressive ongoing development program, particularly if the
Mancos tests successfully,” stated Robert Hodgkinson, CEO.
About Dejour Energy Inc.
Dejour Energy Inc. is an independent oil and natural gas
exploration and production company operating projects in North
America’s Piceance Basin (45,425 net acres) and Peace River Arch
regions (18,878 net acres). Dejour maintains offices in Denver,
USA, Calgary and Vancouver, Canada. The company is publicly traded
on the New York Stock Exchange (NYSE MKT: DEJ) and Toronto Stock
Exchange (DEJ.TO).
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-looking 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, reduced 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.
Forward-looking information in this news release includes, but
is not limited to, statements about the nature and content of the
Kokopelli Project, the estimated timing and amounts of future
expenditures of the 2014 development program, the successful
implementation of the new drill pads and the estimated timing for
the final project budget.
Additional information on these and other factors, which could
affect Dejour’s operations or financial results, are included in
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
securities law.
The TSX does not accept responsibility for the adequacy or
accuracy of this news release.
Follow Dejour Energy’s latest developments on:Facebook
http://facebook.com/dejourenergy and Twitter @dejourenergy
Dejour Energy Inc.Robert L. Hodgkinson,
604-638-5050Chairman & CEOinvestor@dejour.comorCraig Allison,
914-882-0960Investor Relations- New Yorkcallison@dejour.com
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