Steven Ralston, CFA
Waterflood successfully implemented – Dejour’s oil production to increase
Dejour (DEJ) announced that the waterflood at Woodrush has been successfully implemented. Production is no longer constrained by the well allowables imposed by the British Columbia Oil and Gas Commission (OGC). Well production from the Halfway pool at Woodrush should increase steadily over the next few months.
The implementation of the waterflood should ultimately increase production to 1,300 BOE/D by the third quarter, and this level should be able to be sustained for four to five years. The stock is obviously reacting positively to the news, having rallied over 50% from a low of $ 0.32 Monday to $ 0.50 currently.
For a free copy of the full research report, please email scr@zacks.com with DEJ as the subject.
Follow Zacks Small Cap Research on Twitter at Twitter.com/ZacksSmallCap
DEJOUR ENERGY (DEJ): Free Stock Analysis Report
Zacks Investment Research
Be the first to comment