Dejour expects drill pads at four separate drilling locations to be constructed on the Barcus Creek leases, with each location prepared to ultimately drill up to six individual wells. Drilling operations are planned to commence prior to the end of June 2007, subject to final rig contract. The primary drill target is the lower 2000' of the Mesa Verde Group sandstones, the most prolific producing natural gas reservoir in this Basin. Currently drill permits will allow for 40-acre spacing units on this prospect.
Dejour currently holds a 25% working interest in the 1,590-acre Barcus Creek prospect, and over 12,000 acres in the Rio Blanco Deep project area. This is part of almost 290,000 gross acres of oil & gas leases held by Dejour in the Piceance/Uinta Basins of Western Colorado and Eastern Utah. Brownstone Ventures also holds a 10% working interest in this prospect and the Retamco joint venture.
The Rio Blanco Deep project area of the Piceance Basin has become the focus of concentrated drilling activity in the past 12 months:
This is the initial phase of an extended exploitation program planned by Dejour and its partners for the Piceance/Uinta properties. The August 2005 Oil & Gas Investor states that the Piceance Basin alone could contain over 300 TCF of gas in place. As previously reported in Dejour's news release dated 11.24.2006, the undiscovered resource potentials associated with the Dejour-Brownstone-Retamco properties are postulated to exceed 5 TCF gas and 2 BBO by independent engineering firms.
Dr. R. Mark Bustin Ph.D., Geol. is the qualified person for this project.
Dejour Enterprises Ltd. is a micro-cap Canadian company focused on oil & gas exploration and production with a significant investment in uranium discovery. The company acquires high-impact energy assets and strategically monetizes them through partnerships and co-ventures to limit exposure and enhance returns.
Dejour has significant holdings in three of the world's premiere energy resource regions. This includes 288,000 gross (60,000 net) acres in the Piceance and Uinta Basins, a vast natural gas play in North America; and a major interest in Titan Uranium Inc., with 1.44 million acres in the Athabasca and Thelon Basins, the world's most recognized areas for uranium exploration. Finally, the company is pursuing high-impact natural gas opportunities in Canada's Western Sedimentary Basin, known as the Peace River Arch Projects, comprised of 49,000 gross acres.
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