I contacted Craig Allison, Investor Relations, at Dejour.
My intent was to asked about the noncore property sale mentioned in the last PR. I couched my question by saying that I did not want to know anything that might jeopardize a transaction. He understood what I meant and indicated that Bob Hodgkinson, Chairman & CEO, was very shrewd in his land acquisitions and sales. I recalled the story of the Piceance land acquisition with Steve Gose in exchanged for stock and Craig agreed that it was a great acquisition. He indicated that land sales receive the same shrewdness and should be considered monetizing an asset.
Craig and I agreed that the Dejour's land portfolio was not adequately reflected in its stock price. He also said that hopefully after the water flood program is implemented at Woodrush of the Peace River Rush project and the barrel oil equivalent production exceeds 1,000 barrels a day, then Dejour will be more recognized in the investment community. I guess legitimacy is reached after 1,000 barrels.
As I originally bought this as a uranium investment, I asked about the sale of the Titan stock to Mega Uranium. Here are the specifics from a Stockhouse post:
In closing, I asked Craig who originally owned the Woodrush area. He indicated that Conoco worked on it in the 1970s. As with many oil [gas] areas, more oil can now be extracted with new innovated methods.
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