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Dejour Energy Inc., updates current development progress underway at the Woodrush/Hunter Project (Woodrush) in NE B.C.
Approval is expected to be forthcoming from the Oil and Gas Commission in the Province of B.C.to drill two wells as per the previously announced 2014 development program.
The wells target both the Halfway oil and Gething gas pools known to be productive at Woodrush.
The plan is to place both wells on-line as soon as drilling is complete to expand current field production and reserve values of the subject hydrocarbon pools. A third well is planned for H1-2015.
The Company will own a 99% working interest in the two new wells and continue as Operator of Woodrush.
The Project encompasses 23,000 gross (17,000 net) acres with 3 oil wells and 6 natural gas wells currently operating at Woodrush and 2 additional gas wells operating in the adjacent Hunter project in Northern B.C.
Robert Hodgkinson, CEO said: "We recognize the significant production potential associated with the successful development of the multiple hydrocarbon pools located on and adjacent to our leaseholds. Our plan is to follow up with an additional Gething well in H1-2015 as part of our initiative to establish a larger production profile with an expanded reserve base. We are also actively assessing opportunistic acquisitions to further augment the asset base we have established in northern BC. We anticipate that the Woodrush Project will become an important revenue driver in 2015 and form the basis of a larger Ft. St. John production unit leveraging Dejour’s significant infrastructure and pipeline capacity currently in place."
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