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    Dejour closes Woodrush acquisition

    Dejour Energy Inc.

    Dejour Energy Inc. (NYSE MKT:DEJ/TSX:DEJ) has closed on its acquisition of a further 24% working interest in its legacy Woodrush oil and gas project, subject to final TSX approval.

    Woodrush is currently producing at a rate of 475 BOE per day, with approximately $40 per BOE netbacks. A $2.5 million development program is scheduled to begin in the second half of 2014 targeting both Halfway oil and Gething gas, with the goal of adding at least 50% to this production threshold.

    “We are very pleased to promptly close this transaction, as the company intends to further develop our northern British Columbia properties in 2014 during a favorable product price environment in Western Canada,” stated CEO Robert L. Hodgkinson. “The close of this transaction, prior to any further development, increases the company’s proven and probable reserves at Woodrush/Hunter valued on an NPV-10 basis to $11.5 mm compliant with Canada’s NI 51-101 Standards of Disclosure. Coupled with our fully funded 8-10 well program at the company’s now 25%-owned Kokopelli project, Dejour is well positioned to execute on its production growth objectives while preparing key exploration opportunities at Roan Creek and North Rangely.”

     

     

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