•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    Dejour secures $1.5 million for Woodrush development

    Dejour Energy Inc.

    Dejour Energy Inc. (NYSE MKT:DEJ / TSX:DEJ) has entered into subscription agreements for an equity financing that will result in gross proceeds of US$1.5 million with three institutional investors to support the company’s third-quarter 2014 Woodrush development plan. This program encompasses reworking several existing wells to enhance productivity and involves drilling additional wells in an effort to expand production and associated reserves.

    On March 26, Dejour acquired certain natural gas producing assets and related processing facilities adjacent to its Woodrush oil field located 120 kilometers north of Ft. St. John, British Columbia, Canada. On July 3, the company closed on its acquisition of an additional 24% working interest in the company’s legacy Woodrush operation. As of the end of the second quarter, the field produced an average of 475 boe/d.

    In connection with the offering, the company plans to issue 6,000,000 units at a price of US$0.25 per unit. Each unit consists of one common share of the company and one full warrant to purchase one common share. Each warrant will be exercisable to purchase one common share at an exercise price of US$ 0.35 per share until Dec. 31, 2015, subject to early acceleration. Completion of the offering, which is expected to occur on or about Aug. 15, is subject to satisfaction of customary closing conditions including, but not limited to, the approval of the TSX and the NYSE MKT.

     

    Most Popular

    Related Articles

    ENERGY PLAYERS

    06/09/2015

    INDUSTRY BRIEFS

    06/09/2015

    Contract errors can be costly

    06/09/2015

    Lease and contract mistakes threaten profits in oil and gas acquisitions and divestitures

    King's X in Mexico's Round One

    06/09/2015

    The new hydrocarbons law contains language that allows the Mexican government to nullify contracts and worse

    Oil and gas in Egypt

    06/09/2015

    North African Nation still a destination for global investment

    Financing new E&P technology

    06/09/2015

    A prudent cash flow management system is essential for entrepreneurial success

    More Oil & Gas Financial Articles

    ENERGY PLAYERS

    Tue, Jun 9, 2015

    INDUSTRY BRIEFS

    Tue, Jun 9, 2015

    Contract errors can be costly

    Tue, Jun 9, 2015

    Lease and contract mistakes threaten profits in oil and gas acquisitions and divestitures

    King's X in Mexico's Round One

    Tue, Jun 9, 2015

    The new hydrocarbons law contains language that allows the Mexican government to nullify contracts and worse

    Oil and gas in Egypt

    Tue, Jun 9, 2015

    North African Nation still a destination for global investment

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ