Replies to post #70799 on Bagman's charts, watchlists, scans and etc.

[gb55]

Dejour's Third Oil Well Boosts Recoverable Reserve Estimate to 1.35 Million BO from Halfway ReservoirLast
update: 10/29/2010 8:00:02 AM
Confirmation of Halfway Oil Volume Moves Company to Accelerate Waterflood Implementation to January 2011 CALGARY, Alberta, Oct 29, 2010 (BUSINESS WIRE) -- Dejour Enterprises Ltd. (nyse-amex:DEJ / TSX) reports that casing operations of its 3rd oil well (A-91-H) at its 6000 acre Woodrush project have been completed. Flow lines have been connected to the main tank battery and the Company has commenced light oil production at an initial rate of 150 barrels per day from the Halfway pool effective October 28, 2010. Dejour is operator and holds a 75% WI in this project. "The successful completion of this well confirms a single Halfway reservoir with an estimated 1.35 million barrels of recoverable oil. With this confirmation, the application for a field wide waterflood has been submitted to the British Columbia Oil and Gas Commission. Approval of this application is expected in four to six weeks and commencement of water injection is planned for January 31, 2011. Dejour estimates that this waterflood will add more than 700,000 barrels of oil to the recoverable reserves from this single reservoir at a capital cost of $5 per barrel," comments Hal Blacker, M.Sc. MEng., Dejour COO. "With three wells now on line, productive capacity from this Halfway reservoir is currently more than 850 barrels of oil per day. Dejour will continue to restrict production from this pool to conform with British Columbia's allowable well production limits until the waterflood has been implemented. Meanwhile, gas production continues at a rate of 2.7 million cubic feet/day (450 BOE/day) from various Woodrush gas reservoirs," Blacker continues. This brings the total producible wells to date at Woodrush to nine - three oil wells and six gas wells. Dejour plans an additional injection well and possibly one additional producing oil well to be added to the reservoir at the time of the waterflood start up.