UPDATE: Dejour Energy Commences Production at South Rangely Leasehold; Stocks Jump 5%
Dejour Energy Inc. (DEJ.TO) has commenced production at its South Rangely leasehold from its successful discovery well drilled in fourth quarter 2011.
On initial test the well flowed rich gas at rates in excess of 400 MMCFD. Dejour maintains a 30% WI in the discovery, but holds a 77% WI in the balance of the unitized 6300 acre leasehold.
Dejour and its partner will now focus on the Hz production potential for oil that has been encountered in a down dip extension of the same Niobrara formation south of this leasehold.
DEJ went up by nearly 5% to $0.225 but is trading closer to year low 12 cents.
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