Dejour Energy Inc., an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, announced it has now reached total depth of 8130 feet in the Federal 6-7-15-21, the fourth and final well in the current Kokopelli drill program targeting production from multiple horizons of the NGL-rich Williams Fork in this 2Q 2013 drilling operation. Again, ample gas shows, as expected, were observed. The hole has now been cased and cemented.
Following demobilization of the drilling rig and completion of the gas sales line tie in to our facilities, Haliburton will begin turnkey operations to stimulate and complete all four wells for production. Initial production (IP) is scheduled to commence prior to the end of 2Q 2013.
Dejour operates this Kokopelli project and enjoys a 72 percent WI in the initial well drilled in 4Q 2012 and a 100 percent WI in the three wells currently being drilled, all subject to a previously announced agreement with a Denver based drilling fund.
With the realization of firmer gas prices to date in 2013, Dejour is now modeling Kokopelli for the next wave of development targeted for 4Q 2013. The Company estimates the potential to drill at least 27 deeper Mancos/Niobrara wells and more than an additional 200 Williams Fork wells on its two leases that comprise a total of 2200 gross acres.
The Company will report its 1Q 2013 financial results after the market close on May 15, 2013.
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