Dejour Joint Ventures Paradox Basin O&G Leases with MDU Resources unit, Fidelity E & P Co.
June 24, 2008
Denver Colorado, June 24, 2008: Dejour Enterprises Ltd., (Amex: DEJ, TSX-V:DEJ) an oil and natural gas exploration and production company, announced today it has signed a joint operating agreement with Fidelity Exploration & Production Company covering 14,000 acres of long term, highly prospective oil and gas leases in the Northern Paradox Basin located in South-eastern Utah. Fidelity, a subsidiary of MDU Resources Group Inc., (NYSE: MDU), operates over 3400 wells in North America. Its parent company reported annual revenues of over USD $4 billion in 2007 according to its latest annual report.
Industry awareness of the Paradox Basin has been developing since Delta Petroleum announced in December 2007 its Greentown project discovery, resulting in the development of a new pipeline and other infrastructure in this area.
"We are extremely pleased with the opportunity this joint venture brings to Dejour. Fidelity is a highly qualified, experienced operator in the Rocky Mountains with a keen interest in this emerging resource play. We expect they will provide Dejour with valuable experience and efficient operating capability in an area where we both believe a significant natural gas discovery has been made but has yet to be fully delineated," states Harrison Blacker, President of Dejour USA.
About Dejour
Dejour Enterprises Ltd. is a micro cap Canadian company creating shareholder value through a balance of exploration, development, production and monetization of strategic North American energy properties including oil, natural gas and uranium.
The Company is listed on the Amex (DEJ), TSX Venture Exchange (DEJ.V), and Frankfurt (D5R). Dejour is a reporting issuer to the SEC. Refer to www.dejour.com for company details or contact the Office of Investor Relations at investor@dejour.com
Statements Regarding Forward-Looking Information: Some statements contained in this news release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Investors are cautioned that forward-looking statements are inherently uncertain and involve risks and uncertainties that could cause actual results to differ materially, including comments regarding the expectation that the offering will be completed consistent with the terms outlined above and use of proceeds from this transaction. Actual results may differ materially from those presented. Factors that could cause results to differ materially include fluctuations in oil, gas and uranium prices, changes in U.S. and Canadian securities markets and failure to receive regulatory approvals. Dejour assumes no obligation to update this information. There can be no assurance that future developments affecting the Company will be those anticipated by management. Please refer to the discussion of risk factors in our Form 20-F for 2006, as amended.
The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this news release.
Robert L. Hodgkinson, Chairman & CEO
DEJOUR ENTERPRISES LTD.
Suite 1100-808 West Hastings Street, Vancouver, BC Canada V6C 2X4
Phone: 604.638.5050 Facsimile: 604.638.5051 Email: investor@dejour.com
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