Dejour Drills Mancos Gas Test at Kokopelli
February 09 2015 - 9:15AM
Business Wire
Federal 14-15-7-21 Log Confirms Significant
Mancos Hydrocarbon Potential
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,
reports on current development progress at the Kokopelli Project
(“Kokopelli”).
Since the commencement of this phase of Kokopelli in September
2014, Dejour with its operating partner (the “Operator”) have
completed the drilling, casing, fracking and testing of the
produced water disposal (PWD) well on Pad 21A, vital to the
economics of the ongoing Kokopelli production programs. This well
is now ready to equip as a disposal well for produced water for all
wells expected to be drilled on the Jolley Mesa portion of this
south lease at Kokopelli, once associated facilities are in
place.
Subsequently, on Pad 21B, less than 500 yards away, the working
interest partners successfully drilled and cased 7 Williams Fork
wells (Federal 14-15-1-21 through Federal 14-15-8-21) and a single
vertical 13600’ Mancos test well (Federal 14-15-7-21) as
contemplated in the original 2014 drill program by the
Operator.
Logs to date of the Williams Fork indicate production profiles
consistent with existing current production. Logs of the Mancos
section encountered in the last well indicate the presence of gas
throughout this deeper zone. Data continues to be interpreted with
additional cased-hole logs to be run in February.
With this drill phase now at a close, comprehensive fracking,
completion and tie in options are now being assessed by the
Operator. Production rates of the entire suite of wells will be
established once the wells are on line.
Dejour owns an ongoing 25% working interest in the Kokopelli
Project. The successful establishment of gas from high pressure
Mancos could add significantly to both the production profile of
the entire project and the value of the total Kokopelli
resource.
“The findings to date related to the Mancos section at Kokopelli
creates the potential for a multi-zonal resource to highlight this
Colorado-based holding. Under the Operator’s stewardship, this
developmental phase of the Kokopelli Project has moved according to
plan and Dejour is now positioned to benefit from a most attractive
12 well U.S. production base with the ability to expand as the gas
price dictates. There are currently 208 undrilled locations in the
Williams Fork, alone, on this 2200-acre property, prior to any
lease expansion. Completion success of this Mancos well is expected
to increase that number and demonstrably increase the deliverable
resource,” 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 (43,500 net acres) and Peace River Arch
regions (16,222 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 2015 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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