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Dejour Energy reports Q3 2012 revenue of $1.55 million

Thursday, Nov 08, 2012

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural gas exploration and production company operating in North America's Piceance Basin and Peace River Arch regions, today announced the release of its financial results for the third quarter period ended September 30, 2012.

“Although production and resulting netbacks per BOE were impaired by an unanticipated 38% downtime at the Company’s key production well (A-1-I) at Woodrush BC during the quarter, we are pleased that”

Co-Chairman and CEO Robert Hodgkinson states, “Although production and resulting netbacks per BOE were impaired by an unanticipated 38% downtime at the Company’s key production well (A-1-I) at Woodrush BC during the quarter, we are pleased that:

Dejour was on schedule to drill and case the lease earning well at our flagship 'liquids-rich' Kokopelli project and expect to mobilize completion and tie-in activities in the next few weeks.

Dejour’s discovery well at our 77% owned 6000 acre South Rangely project is currently being prepared for tie-in to production facilities. Both of these events are milestones in the Company’s history, providing the first U.S. based production for Dejour.

The production issues encountered at the Company’s Woodrush facility appear to have been substantially rectified and the injection rate of the waterflood has now resumed to amounts accretive to the stronger pre-defined production profile anticipated by the Company’s production team. The three Woodrush oil pool wells have now been operating at 98% time efficiency, to date in October.

Source: Business Wire

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