Dejour Enterprises released the results of a 24 hour production test of the new oil discovery at its 75% owned Woodrush project in the Peace River Arch, NE British Columbia.
Production casing was set on Well A-1-I/94-H-02 after it encountered a Halfway oil pool and other productive horizons. This well was drilled to a newly defined seismic feature north of the original Woodrush oil discovery made in Dejour's D-91-H well, in 2008. The A-1-I well was subsequently completed in the Halfway sand and flow tested in excess of 500 barrels of oil per day (bopd) of light sour oil during a 24 hour test. Pipelines are now being laid to Dejour's central production facility. Production is to commence prior to the end of March at initial rates between 300 and 400 bopd.
This addition boosts the Woodrush gross production to over 1000 BOE/d, approximately 50% oil. Dejour is operator with a 75% WI.
"We anticipate that the two new wells drilled and completed at Woodrush this March will more than double the operating netback to the Company from this field. For the foreseeable future, management anticipates Woodrush will provide Dejour with a positive operating cash flow, a critically important milestone in our plan to exploit the much larger Gibson Gulch Project in the Piceance Basin, Colorado," stated Harrison Blacker, President and COO.
A third well planned for drilling in March was deferred in anticipation of an early end to the winter drilling season caused by unseasonably warm weather. Dejour is currently updating the seismic interpretation of the Woodrush field with the new well information. Management anticipates additional drilling at Woodrush over the near term.
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