Dejour Energy, an oil and natural gas exploration company, declared that Gustavson & Associates, a qualified resource evaluator based in Colorado, has prepared a 2012 Reserve Evaluation report for the company’s South Rangely project.
The evaluation report was prepared as per the COGE Handbook and Canada’s National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities. As reported in the past, the vertical test and fracture stimulation results have validated the presence of hydrocarbon in commercial quantities and has exposed the company’s remaining South Rangely acreage to minor risk exploration down structure from this NGL/gas accumulation.
Dejour Energy, along with its partners, will concentrate on the possibility for an oil leg generally identified down dip from comparable NGL-loaded gas accumulations in the Mancos C in this region. The company is planning to use applicable acreage related to this leasehold, begin production as early as possible, and commence the development of the neighboring five PUD locations.
The President and COO of Dejour, Hal Blacker stated that the reserves found in this traditional drilling indicate the presence of a larger unconventional resource in South Rangely. The company is certain that the South Rangely project will extend its series of reserve-based growth projects in 2012. The project denotes the first new reserves to be allotted on the 108,000 ac of leases outside the Kokopelli leasehold, which is to be developed shortly.
Source: http://www.dejour.com/