Dejour Enterprises Ltd. (DEJ) reported the results of an updated assessment of the company’s oil and gas reserves at the Woodrush Project. The company said that the updated reserve assessment significantly increased the company’s reserves here.
Dejour Enterprises Ltd. reported that the updated assessment gives the company total proved producing reserves of 354,000 barrels of oil equivalent (BOE) at the Woodrush Project. These reserves are composed of 911 million cubic feet of natural gas, and 201,000 barrels of oil and liquids. Dejour Enterprises Ltd. said that the proved producing reserves were accorded a PV-10 value of $10.6 million.
The updated assessment gives the company proved plus probable producing reserves of 543,000 BOE at the Woodrush Project. These reserves are composed of 1.3 billion cubic feet of natural gas, and 312,000 barrels of oil and liquids.
The Woodrush Project is located in the Peace River Arch region in British Columbia and Alberta, Canada. Dejour Enterprises Ltd. has 6,000 net acres under lease at the Woodrush Project, and is planning to develop the Notekewin, Gething and Halfway formations on its acreage.
Dejour Enterprises Ltd. said that the new assessment was conducted by GLJ Petroleum Consultants, a recognized petroleum engineering firm located in Calgary, Alberta.
For more information on the company, go to http://www.dejour.com