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Dejour signs $27.5mm LOI with Singapore based Energy Co.


Published Dec 18, 2013
Dejour Energy Inc.

Dejour Energy Inc. has signed a Letter of Intent to create a strategic joint venture partnership with a private Singapore based energy company ('SECO') to develop the company's Colorado oil and gas assets.

Upon completion of due diligence, legal documentation and requisite approvals expected prior to January 31, 2014, SECO will invest an initial sum of up to $27.5mm in 2014 and 2015 to earn an 85% share in Dejour's interests in its Colorado properties, primarily Kokopelli, subject to certain interest claw backs available to Dejour. Following this capital investment by SECO, the partners will continue to judiciously develop the reserves on a pro rata basis.

Tags: Dejour Energy Inc.




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