Dejour Energy Inc. has closed a bridge loan commitment of up to C$ 2.5 million by companies associated with a principal and director of Dejour, on the same terms as the previously secured C$4 million bridge loan facility. These funds are targeted to provide for the balance of completion capital required by Dejour to see the eight wells recently drilled at Kokopelli through to production. The independent members of the Board of Directors approved the loan agreement and the principal and director appropriately abstained from voting in the loan transaction.
As previously reported, Dejour owns an ongoing 25% working interest in the Kokopelli Project. The funds drawn under this facility represent the pro-rata contribution required to be paid by Dejour to maintain its full share of the current development phase and includes costs related to project infrastructure intended to maximize future production efficiencies. The successful establishment of gas volumes from the high pressure Mancos could significantly alter the production profile of the entire project and the value of the total hydrocarbon resource available at Kokopelli.