Dejour Energy (DEJ) Announces Completion and Positive Results from South Rangely Test Drill
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Dejour Energy Inc. (NYSE: DEJ) announced today that the vertical test well drilled at the South Rangely was successfully completed, fracture stimulated with 100,000 pounds of proppant and flow tested during late December 2011 at a consistent rate of 315 MCF per day for more than 10 days with zero decline in production or pressure.
The South Rangely leasehold is thought by Dejour to be a Mancos "C" (Niobrara) type resource play most suitable for Hz well development. The results of this vertical test have confirmed a trapped hydrocarbon presence in commercial quantities and opened up all of Dejour's remaining South Rangely acreage to lower risk exploration down structure from this gas accumulation. The Company and its partners will focus on the oil leg that is typically found down dip from similar gas accumulations in the Mancos "C" in this area. An action plan to efficiently exploit the 6,750 acres of gross leasehold operated by Dejour will be announced early in Q2-2012.
The South Rangely leasehold is thought by Dejour to be a Mancos "C" (Niobrara) type resource play most suitable for Hz well development. The results of this vertical test have confirmed a trapped hydrocarbon presence in commercial quantities and opened up all of Dejour's remaining South Rangely acreage to lower risk exploration down structure from this gas accumulation. The Company and its partners will focus on the oil leg that is typically found down dip from similar gas accumulations in the Mancos "C" in this area. An action plan to efficiently exploit the 6,750 acres of gross leasehold operated by Dejour will be announced early in Q2-2012.
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