Dejour Contracts Patterson Drilling & Halliburton for Kokopelli Development

  Dejour Contracts Patterson Drilling & Halliburton for Kokopelli Development

                  Targeting Q2-2013 Liquids-Rich Production

Business Wire

DENVER -- March 21, 2013

Dejour Energy Inc. (NYSE MKT: DEJ / TSX: DEJ), an independent oil and natural
gas exploration and production company operating in North America's Piceance
Basin and Peace River Arch regions, today provides an update on field
operations at its 72% owned and operated Kokopelli project in Western
Colorado.

The Company remains on schedule for the start-up of a new three well drilling
program at Kokopelli before the end of March. Mobilization of Patterson-UTI
(NASDAQ: PTEN) Rig #313 to Dejour’s Drill Pad 21-A has begun. At the
conclusion of the three well program, the Company has contracted with
Halliburton (NYSE: HAL) to commence completion of all four wells (including
Federal Well 6-7-16-21 which was drilled in November).

Dejour is currently finalizing a gas transportation and processing agreement
with a major midstream operator in the Piceance. Under the terms of the
agreement, Dejour will maintain ownership of all NGL’s recovered at the third
party processing plant and sell both the NGL’s and the residual gas at the
tailgate of the plant.

“We are beginning the process of converting the Kokopelli asset from a proven
undeveloped and probable reserve to a proven developed producing reserve that
we expect to grow with time to over a net 120 BCF natural gas with 15 MM
barrels of condensate/liquids in the Williams Fork,” says Harrison Blacker,
Dejour COO.

Of significant interest to the Company are recent activities targeting the
deeper Niobrara-Mancos zones in proximity to Dejour leaseholds within the
Piceance Basin.

A recent announcement by WPX Energy (NYSE: WPX) of a successfully completed
Lower Mancos (Niobrara) Hz producer, in Garfield County, states that a new
producer has averaged 12 MMCF/d of restricted flow production during the first
30 days. WPX further announced its intention to drill 2 additional Hz wells in
2013 adding that the encouraging production results of these new wells
indicate that the Piceance Basin recoveries, including the Niobrara-Mancos,
offer the potential to at least double the Company’s net reserves in the
Piceance.

“We are also very excited about the activities of a Texas based E&P company
currently testing a 4,600’ horizontal leg of an 11,700’ deep Mancos well less
than 5 miles to the west of our Kokopelli location,” Blacker continues.

Dejour has over 7,500 net acres of land prospective for Niobrara-Mancos
contingent resources in this Basin. The WPX well is situated between Dejour’s
Kokopelli and Roan Creek leaseholds.

About Dejour

Dejour Energy Inc. is an independent oil and natural gas exploration and
production company operating projects in North America’s Piceance Basin and
environs (approximately 129,000 net acres) and Peace River Arch regions
(approximately 8,500 net acres). Dejour’s seasoned management team has
consistently been among early identifiers of premium energy assets, repeatedly
timing investments and transactions to realize their value to shareholders'
best advantage. Dejour maintains offices in Denver, USA, Calgary and
Vancouver, Canada. The company is publicly traded on the New York Stock
Exchange MKT (NYSE MKT: DEJ) and Toronto Stock Exchange (TSX: DEJ).

Statements Regarding Forward-Looking Information: This news release contains
statements about oil and gas production and operating activities that may
constitute "forward-looking statements" or “forward-looking information”
within the meaning of applicable securities legislation as they involve the
implied assessment that the resources described can be profitably produced in
the future, based on certain estimates and assumptions. Forward-looking
statements are based on current expectations, estimates and projections that
involve a number of risks, uncertainties and other factors that could cause
actual results to differ materially from those anticipated by Dejour and
described in the forward- looking statements. These risks, uncertainties and
other factors include, but are not limited to, adverse general economic
conditions, operating hazards, drilling risks, inherent uncertainties in
interpreting engineering and geologic data, competition, reduced availability
of drilling and other well services,

fluctuations in oil and gas prices and prices for drilling and other well
services, government regulation and foreign political risks, fluctuations in
the exchange rate between Canadian and US dollars and other currencies, as
well as other risks commonly associated with the exploration and development
of oil and gas properties. Additional information on these and other factors,
which could affect Dejour’s operations or financial results, are included in
Dejour’s reports on file with Canadian and United States securities regulatory
authorities. We assume no obligation to update forward-looking statements
should circumstances or management's estimates or opinions change unless
otherwise required under securities law.

BOE Presentation: Barrel of oil equivalent amounts have been calculated using
a conversion rate of six thousand cubic feet of gas to one barrel of oil. The
term “BOE” may be misleading if used in isolation. A BOE conversion ratio of
one barrel of oil to six mcf of gas is based on an energy equivalency
conversion method primarily applicable at the burner tip and does not
represent a value equivalency at the well head. Total BOEs are calculated by
multiplying the daily production by the number of days in the period.

The TSX does not accept responsibility for the adequacy or accuracy of this
news release.

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Contact:

Dejour Energy Inc.
Robert L. Hodgkinson, 604-638-5050
Co-Chairman & CEO
investor@dejour.com
Facsimile: 604-638-5051
or
Investor Relations – New York
Craig Allison, 914-882-0960
callison@dejour.com
 
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