Dejour Energy Inks Farm-out Agreement on Piceance Basin - Shares Up 16%


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Dejour Energy Inc. ( DEJ ) shares are up 15.8% to $0.227 following the company's after-hours announcement yesterday that it has executed a sale and farm-out agreement covering a total of 7,450 acres of its 100% owned western Piceance Basin lands.

The sale was to a large NYSE-listed energy and petroleum company for an undisclosed cash consideration and a commitment to carry Dejour through the drilling and completion of three earning wells. DEJ will retain a 20% working interest in over 5,100 acres in this project.

DEJ shares last changed hands at $0.229, within their 52-week range of $0.12 - $0.61.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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This article appears in: Investing , Commodities

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