Dejour Enterprises Ltd. is in the final stages of initiating oil production from its 100% owned new pool discovery at Woodrush (part of the Drake area lands) in NE British Columbia. All weather access and tanks have been supplied, with final electrical work being to be completed in Q3/08.
The discovery well, into the 'Halfway' zone, encountered virgin pressures testing over 600 barrels of oil per day. The BC Government has established an initial restricted flow rate of 180 barrels per day from this well pending establishment of reservoir dynamics of the discovery, at which time allowable flow rates are expected to be increased. Dejour plans a minimum of two offset wells into this pool in Q4-08/Q1-09.
The Company has applied for and anticipates receiving, a three year royalty free holiday from the BC Government associated with production from this new pool discovery well.
Dejour is on target to tie-in five natural gas/oil wells in Drake, Carson Creek and Saddle Hills (with Zargon) in Q3/08, bringing the total to nine production wells established in 2008.
The Company plans to drill 8 additional wells offsetting these discoveries during the coming winter drill season.
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