Dejour Enterprises intends to issue 3,333,333 million flow-through common shares at a price of C$0.60 per Share, in a non-brokered private placement in Canada, subject to regulatory hold periods.
Proceeds from the placement will fund an enhanced 3D survey and kick off the winter drilling program for the Woodrush oil project located in the Peace River Arch, BC. At least two oil wells are planned and have already been permitted for drilling at Woodrush during the 2009/10 winter drilling season.
Dejour currently has six wells situated over several 3D defined features on this acreage. To date, Dejour has a 100% success rate drilling the seismic features in this field, with a production capability of 500 BOE/d, roughly 1/3 oil.
The Company will pay finder fees of 6.5% of the proceeds in cash. The closing of the placement and the issuance of the Shares are subject to approval by the TSX and the NYSE Amex.
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