VANCOUVER, British Columbia–(BUSINESS WIRE)–Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ) (“Dejour” or the “Company”), an independent oil and natural gas exploration and production company operating in North America’s Piceance Basin and Peace River Arch regions, updates current development progress underway at the Woodrush/Hunter Project (“Woodrush”) in NE British Columbia.
Dejour has successfully production tested the B-100 Halfway oil step out well at rates of up to 500 BOPD over a seven hour swab evaluation. Pump jack installation and tie-in to existing gathering lines is expected to commence later this week to produce this premium light 44 API to the main facility.
Post perforation well response confirms that this well is a southerly extension of the main Woodrush Halfway pool which is currently under waterflood. The placement of this well will allow for much improved waterflood management. The Company owns a 99% working interest in this well and is the project operator.
“This latest oil well development is very good news for all Dejour shareholders. We should now comfortably exceed our gross production target of 700 BOEPD from Woodrush. It also allows for improved waterflood management that is expected to translate into improved ultimate recoveries. Coupled with the Gething discovery well, our Fort St. John unit has made great strides in realizing our 2015 production profile goal while allowing us to more efficiently utilize the substantial infrastructure and in place pipeline capacity now owned by the Company, following the acquisitions made in 2014,” states Robert L. Hodgkinson, Chairman & CEO.
About Dejour Energy Inc.
Dejour Energy Inc. is an independent oil and natural gas exploration and production company operating projects in North America’s Piceance Basin (43,500 net acres) and Peace River Arch regions (17,000 net acres). Dejour maintains offices in Denver, USA, Calgary and Vancouver.
Additional information on these and other factors, which could affect Dejour’s operations or financial results, are included in Dejour’s reports on file with Canadian and United States securities regulatory authorities. We assume no obligation to update forward-looking statements should circumstances or management’s estimates or opinions change unless otherwise required under securities law.
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