Dejour Energy has purchased three additional sections of oil and gas leases in north-east British Columbia, Canada.
The acquisition covers about10km² adjacent to its current landholdings of conventional oil and gas production at the Woodrush project.
With this acquisition Dejour holds 75% of 11 sections, covering about 34km² at the expanding proven project area.
Dejour and its partners have executed a development alliance with US E&P at the Western Colorado oil exploration project.
Under terms of the agreement, US E&P will acquire 30% cost and working interest in the exploratory well in exchange for contributing adjacent acreage.
Dejour, will retain retains a 30% working interest in this initial test and a 56% interest in around 32km& of surrounding lands.
Dejour CEO and co-chairman Bob Hodgkinson said the alliance will present a timely and cost-effective development methodology to further expand the firm’s acreage position in the region.
