Dejour commenced the drilling of the third well (A-B-1) into the Woodrush oil pool Tuesday, ahead of schedule and in time to receive a 10% royalty discount from the BC government at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia.
"We anticipate that this new well will be completed into pipe in 4Q, could more than double net revenue to the Company and continue to accelerate oil production as the water flood responds. Given the royalty discount afforded new oil producers, Dejour is well positioned to maximize benefit from this cost savings which further enhances our bottom line results," stated Harrison Blacker, President and COO.
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