Dejour Executes Joint Venture with NYSE E&P
Dejour Enterprises Ltd. announced today that it has formally executed the exploration Joint Venture, based on certain of Dejour's Canadian landholdings, with a NYSE listed E&P previously announced on January 21, 2011. Up to $15mm has been budgeted for initial exploration in 2011.
COO Hal Blacker states, “We are very pleased to have a strong industry partner working with us to test the oil production potential of certain of Dejour's Canadian landholdings. The agreed program, to be carried out in 2011, involves additional field work to confirm the interpretation of data acquired by Dejour in 2010 followed by additional land acquisition and the drilling of two horizontal wells.”
Dejour Enterprises Ltd. 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 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.to - News).