Exhibit 99.2



LOGO

April 6, 2013

Mr. Harrison Blacker

President

Dejour Energy (USA) Corp.

1401 17th Street, Suite 300

Denver, CO 80202



|         |  |                                                                                                                                                                                       
|-------- |  | --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
|Subject: |  | Reserve Estimate and Financial Forecast as to Dejours Interests in the Kokopelli Field Area, Garfield County, Colorado, and the South Rangely Field Area, Rio Blanco County,
Colorado

Dear Hal:

As
you requested, Gustavson Associates has completed reserves and economics as to Dejour Energys interests in future oil and gas production associated with the Kokopelli Field Area located in Garfield County, Colorado and the South Rangely Field
Area, Rio Blanco County, Colorado. Reserves have been estimated based on analysis of analogous well production data. Estimates and projections have been made as of January 1, 2013. Reserves have been estimated in accordance with the US
Securities and Exchange Commissions (SEC) definitions and guidelines, and the report was prepared for the purpose of inclusion as an exhibit in a filing made with the SEC. This report was completed on April 6, 2013.

In general, Proved Developed Producing (PDP) reserves have been assigned to the South Rangely Federal 36-24A well, Proved Developed Non-Producing (PDNP)
reserves have been assigned to the Kokopelli Federal #6 well, and Proved Undeveloped (PUD) reserves have been assigned to 80 total well locations. Of the PUD locations, 75 well locations are in the Kokopelli Field Area and 5 well locations are in
the South Rangely Field Area. Gustavson is of the opinion that no current regulations, and no anticipated changes to regulations, would inhibit the ability of Dejour to recover the estimated reserves in the manner projected herein. It is our
understanding that the reserves estimated herein represent all of Dejours US reserves.



5757 Central
Ave.    Suite D    Boulder, Co. 80301 USA    1-303-443-2209    FAX 1-303-443-3156    http://www.gustavson.com



---

Mr. Harrison Blacker

April 6, 2013

Page
 2



The estimated net reserves volumes and associated net cash flow estimates are summarized below.

Summary of Net Reserves and Projected Before Tax Cash Flow



|                                             |  |          |          |  |            |  |       |           |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 
|-------------------------------------------- |  | -------- | -------- |  | ---------- |  | ----- | --------- |  |  | -------- |  |  | ---------------------------- | ------- |  | --- |  | -------- | --- |  |  | -------- |  |  |  | --------- | 
|                                             |  |          |          |  | Net        |  |       | Net Heavy |  |  | Net      |  |  |                              |         |  |     |  |          |     | 
|                                             |  | Net Gas  |          |  | Condensate |  |       | NGL       |  |  | Ethane   |  |  | Net Present Value, thousands |        
|                                             |  | Reserves |          |  | Reserves   |  |       | Reserves  |  |  | Reserves |  |  | of US$ Discounted at         |        
|Reserves Category                            |  | (MMCF)   |          |  | (MBO)      |  |       | (MBO)     |  |  | (MBO)    |  |  | 0%                           |         |  | 10% |  |          | 15% | 
|Proved Developed Producing, Flat Pricing     |  |          | 108.6    |  |            |  | 0.0   |           |  |  | 4.6      |  |  |                              | 6.2     |  |     |  | 302.1    |     |  |  | 213.4    |  |  |  | 188.2     | 
|Proved Developed Non-Producing, Flat Pricing |  |          | 67.8     |  |            |  | 0.6   |           |  |  | 3.1      |  |  |                              | 4.3     |  |     |  | 257.0    |     |  |  | 172.2    |  |  |  | 151.1     | 
|Proved Undeveloped, Flat Pricing             |  |          | 40,761.5 |  |            |  | 338.9 |           |  |  | 1,865.7  |  |  |                              | 2,574.3 |  |     |  | 48,418.7 |     |  |  | 2,592.6 |  |  |  | 10,053.8 | 
|                                             |  |          |          |  |            |  |       |           |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 
|Total Proved, Flat Pricing                   |  |          | 40,937.9 |  |            |  | 339.5 |           |  |  | 1,873.4  |  |  |                              | 2,584.8 |  |     |  | 48,977.8 |     |  |  | 2,207.0 |  |  |  | 9,714.5  | 
|                                             |  |          |          |  |            |  |       |           |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 

The proportion of the Companys total reserves represented by the reserves included in this report is shown below.



|                     |  |      |          |  |                             |  |        |            |  |  |        |  |  |            |       |  |               |  |        |  |  |  |     |  
|-------------------- |  | ---- | -------- |  | --------------------------- |  | ------ | ---------- |  |  | ------ |  |  | ---------- | ----- |  | ------------- |  | ------ |  |  |  | --- | -
|                     |  |      |          |  | Company Net Proved Reserves |  |        |            |  |  |        | 
|Location of Reserves |  |      |          |  |                             |  |        |            |  |  |        |  |  | Oil        |       |  | Proportion of | 
|                     |  |      |          |  | Gas                         |  |        | Condensate |  |  | NGL    |  |  | Equivalent |       |  | Oil Eq.       | 
|Country              |  | Area |          |  | (MMCF)                      |  |        | (MBBL)     |  |  | (MBBL) |  |  | (MBOE)     |       |  | Reserves      | 
|United States        |  |      | Colorado |  |                             |  | 40,938 |            |  |  | 340    |  |  |            | 4,458 |  |               |  | 11,621 |  |  |  | 98  | %
|Total Company        |  |      |          |  |                             |  |        |            |  |  |        |  |  |            |       |  |               |  | 11,894 |  |  |  | 100 | %

Note: Natural gas is converted to oil equivalent using a factor of 6,000 cubic feet of gas per one barrel of oil
equivalent.

Kokopelli Field Area Assumptions, Garfield County, Colorado

Proved Developed Non-Producing (PDNP) reserves have been assigned to the Kokopelli Federal Well 6-7-16-21, which was drilled in November 2012 and has not
yet been completed. Logs for this well were reviewed and found to indicate similar response in the target formations to the response in analogous producing wells. Proved Undeveloped (PUD) reserves have been assigned to locations within the area
delineated by successful wells and logged net pay, limited to the number of wells in Dejours five-year plan, comprising 75 locations. Dejour has entered into a farmout agreement with a private Denver-based drilling fund for a four-well
drilling and completion program including the existing PDNP well and three PUD locations. The drilling of these three locations is expected to occur 1st quarter 2013, with completion of all four wells following, and production beginning May 1,
2013. Dejour will not pay any drilling or completion costs for this program, but will contribute the existing well bore, and will have a 14% working interest (WI) and 11.2% net revenue interest (NRI) before payout of 125% of the capital investments
(BPO), and 39% WI and 31.2% NRI APO, in the joint venture. Under the flat pricing scenario, the 125% payout level is not reached during the life of the wells. Dejour expects their working interest partner, Brownstone Ventures (US) Inc., to
participate in their share of completion of the Federal 6-7-16-21 well, but not in the three drilling locations. Thus Dejours interests in these four wells are expected to be as follows:



|              |  |            |       |  |         |  |       |                 |  |  |                        |  |  |     |      |  |     |  |    |    |  |  |      |  |  |    |       |  |     |  |       |  |  |  |       |  |  |  |       | 
|------------- |  | ---------- | ----- |  | ------- |  | ----- | --------------- |  |  | ---------------------- |  |  | --- | ---- |  | --- |  | -- | -- |  |  | ---- |  |  | -- | ----- |  | --- |  | ----- |  |  |  | ----- |  |  |  | ----- | 
|              |  |            |       |  | Farmout | 
|              |  |            |       |  |         |  |       | Three New Wells |  |  | Federal 6-7-16-21 well | 
|              |  | No Farmout |       |  | BPO     |  |       | APO             |  |  | BPO                    |  |  | APO |     
|Company       |  | WI         |       |  | NRI     |  |       | WI              |  |  | NRI                    |  |  | WI  |      |  | NRI |  |    | WI |  |  | NRI  |  |  | WI |       |  | NRI | 
|Dejour        |  |            | 71.43 |  |         |  | 57.14 |                 |  |  | 14                     |  |  |     | 11.2 |  |     |  | 39 |    |  |  | 31.2 |  |  |    | 10    |  |     |  | 8     |  |  |  | 27.86 |  |  |  | 22.28 | 
|Brownstone    |  |            | 28.57 |  |         |  | 22.86 |                 |  |  | 0                      |  |  |     | 0    |  |     |  | 0  |    |  |  | 0    |  |  |    | 28.57 |  |     |  | 22.86 |  |  |  | 28.57 |  |  |  | 22.86 | 
|Drilling Fund |  |            |       |  |         |  |       |                 |  |  | 86                     |  |  |     | 68.8 |  |     |  | 61 |    |  |  | 48.8 |  |  |    | 61.43 |  |     |  | 49.14 |  |  |  | 43.57 |  |  |  | 34.86 | 



---

Mr. Harrison Blacker

April 6, 2013

Page
 3



Dejour expects to start the remainder of their drilling program with 8 wells
drilled in the 4thquarter of 2013, and 16 wells per year
in 2014 through 2017. Significant upside to this amount includes an additional 17 locations that could be considered PUD, and another 127 locations that could be considered Probable, but for the requirement in the latest SEC guidelines for
commitment to drill within five years. The estimated ultimate recovery (EUR) for each location was based on the average performance of 65 wells in the immediate area. Many of these wells were completed in multiple zones, including Williams Fork,
Rollins, Cozette, and Corcoran. The average EUR was based on the average composite performance of the total well production from each well.

This model includes production and revenue generated from natural gas liquids (NGLs). We have evaluated the gas sample report you provided. We have
accounted for gas shrinkage and lower BTU after processing: all net gas reserves volumes tabulated in this report are after shrinkage. We have also forecast NGL production as a ratio of gas production based on the liquids content displayed in the
gas sample report, including 95% of the ethane and 100% of all heavier hydrocarbons.

Expected drilling and completion
costs for the next three wells are $2.1 MM per well, based on information provided by Dejour and compared with our knowledge of other operations in the area. Wells drilled thereafter are expected to cost $1.875 per well. Operating costs are
estimated at $3,000 per well per month based on information provided by the Client and our experience with similar wells in the area. Abandonment costs of $10,000 were assumed. State and local production taxes are estimated at 7% of revenue. Oil
prices were based on the average of the West Texas Intermediate (WTI) pricing from the first day of each month of 2012, adjusted each month by the average differential between Colorado
pricing1and WTI. Similarly, gas prices were calculated
for the posted gas prices at Henry Hub, adjusted for gas processing, transportation, and the differential to Colorado Interstate Gas (CIG) mainline pricing. Ethane and NGL prices were estimated based on an analysis of 2012 product prices as a
percentage of WTI crude prices and the WTI average 2012 price as described above, with the heavier NGL stream pricing calculated considering the composition of the gas in the Gibson Gulch/ Kokopelli Field. A transportation cost of 10¢ per
gallon was deducted from all the prices. A location differential will also exist for any specific property, estimated at $0.10 per gallon. Costs and prices were held flat. Prices are summarized below.



|                            |  |       |           | 
|--------------------------- |  | ----- | --------- | 
|Product                     |  | Price |          
|Condensate                  |  | $     | 88.42/bbl | 
|Natural Gas                 |  | $     | 1.49/MSCF | 
|Ethane                      |  | $     | 12.46/bbl | 
|Heavier NGLs                |  | $     | 59.99/bbl | 
|Weighted average total NGLs |  | $     | 32.43/bbl | 



|1 | http://tonto.eia.doe.gov/dnav/pet/pet_pri_dfp1_k_m.htm
|- | ------------------------------------------------------



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Mr. Harrison Blacker

April 6, 2013

Page
 4



Dejours interests in the Kokopelli Field Area are reported to be 71.43% working interest with a
20% royalty burden for net revenue interest of 57.14%, with the exception of the four wells included in the farmout as described previously.

The estimated net reserves volumes and associated net cash flow estimates for the Kokopelli Field Area are summarized below.



|                                             |  |          |          |  |          |  |       |          |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 
|-------------------------------------------- |  | -------- | -------- |  | -------- |  | ----- | -------- |  |  | -------- |  |  | ---------------------------- | ------- |  | --- |  | -------- | --- |  |  | -------- |  |  |  | --------- | 
|                                             |  |          |          |  |          |  |       | Net      |  |  |          |  |  |                              |        
|                                             |  |          |          |  |          |  |       | Heavy    |  |  | Net      |  |  |                              |        
|                                             |  | Net Gas  |          |  | Net Oil  |  |       | NGL      |  |  | Ethane   |  |  | Net Present Value, thousands |        
|                                             |  | Reserves |          |  | Reserves |  |       | Reserves |  |  | Reserves |  |  | of US$ Discounted at         |        
|Reserves Category                            |  | (MMCF)   |          |  | (MBO)    |  |       | (MBO)    |  |  | (MBO)    |  |  | 0%                           |         |  | 10% |  |          | 15% | 
|Proved Developed Non-Producing, Flat Pricing |  |          | 67.8     |  |          |  | 0.6   |          |  |  | 3.1      |  |  |                              | 4.3     |  |     |  | 257.0    |     |  |  | 172.2    |  |  |  | 151.1     | 
|Proved Undeveloped, Flat Pricing             |  |          | 40,761.5 |  |          |  | 338.9 |          |  |  | 1,865.7  |  |  |                              | 2,574.3 |  |     |  | 48,418.7 |     |  |  | 2,592.6 |  |  |  | 10,053.8 | 
|                                             |  |          |          |  |          |  |       |          |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 
|Total Proved, Flat Pricing                   |  |          | 40,829.3 |  |          |  | 339.5 |          |  |  | 1,868.8  |  |  |                              | 2,578.6 |  |     |  | 48,675.7 |     |  |  | 2,420.3 |  |  |  | 9,902.6  | 
|                                             |  |          |          |  |          |  |       |          |  |  |          |  |  |                              |         |  |     |  |          |     |  |  |          |  |  |  |           | 

South Rangely Field Area Assumptions, Rio Blanco County, Colorado

The South Rangely 36-24A well was drilled and completed in late December 2011. The well was hooked up and started producing in December 2012 at a rate
similar to the initial rate assumed for the South Rangely type well. We have assigned Proved Developed Non-Producing (PDNP) reserves to the South Rangely Federal 36-24A well. We have evaluated the possibility of assigning Proved Undeveloped reserves
to five well locations that are direct offsets to the South Rangely 36-24A well; however, under the current pricing scenario drilling of these locations is uneconomic and so no reserves can be assigned at this time.

The estimated ultimate recovery (EUR) for the South Rangely Federal 36-24A and each of the considered undeveloped well locations was based on the average
decline parameters from 28 wells in the immediate area, 460 MMCF. South Rangely 36-24A production was adjusted to account for early production constraints and mechanical problems. All of the analog wells are



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Mr. Harrison Blacker

April 6, 2013

Page
 5



producing from the Mancos B formation and are located within 3 miles of the South Rangely Federal 36-24A. The EUR was based on the average decline curve parameters for each well and the average
composite performance of the production from each well.

This evaluation includes production and revenue generated from natural gas liquids
(NGLs). We have evaluated the gas sample report provided by the client. We have accounted for gas shrinkage and lower BTU after processing: all net gas reserves volumes tabulated in this report are after shrinkage. We have also forecast heavy NGL
and ethane production as a ratio of gas production based on the liquids content displayed in the gas sample report.

It was assumed that one
undeveloped well location would be drilled in April 2013, coming on line two months after drilling. Expected drilling and completion costs of $800M per well were assumed. That would be followed by the drilling of two wells in April 2014 and two
wells in April 2015. Operating costs are estimated at $1,200 per well per month as provided by Dejour and supported by our experience with similar wells in the area.

Abandonment costs of $10,000 were assumed. State and local production taxes are estimated at 7% of revenue. Oil prices were based on the average of the West Texas Intermediate (WTI) pricing from the first
day of each month of 2012, adjusted each month by the average differential between Colorado pricing2and WTI. Similarly, gas prices were calculated for the posted gas prices at Henry Hub, adjusted for gas processing, transportation, and CIG differential. Cost and prices were held flat. NGL prices were
estimated similarly to those for Kokopelli, adjusted for the gas composition at South Rangely. Prices are summarized below.



|                            |  |       |           | 
|--------------------------- |  | ----- | --------- | 
|Product                     |  | Price |          
|Condensate                  |  | $     | 88.42/bbl | 
|Natural Gas                 |  | $     | 1.49/MSCF | 
|Ethane                      |  | $     | 12.46/bbl | 
|Heavier NGLs                |  | $     | 51.81/bbl | 
|Weighted average total NGLs |  | $     | 29.11/bbl | 

Dejours interests in the South Rangely Federal 36-24A after drilling and completion are reported to be 39.286%
working interest with an 18.636% royalty burden for net revenue interest of 31.964%.



|2 | http://tonto.eia.doe.gov/dnav/pet/pet_pri_dfp1_k_m.htm
|- | ------------------------------------------------------



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Mr. Harrison Blacker

April 6, 2013

Page
 6



The estimated net reserves volumes and associated net cash flow estimates for the South Rangely Field
Area are summarized below. A summary cash flow for each pricing scenario is included in Tables 1 through 3. Note that ethane and heavier NGLs are summed in these tables, and the NGL prices shown are average for the entire NGL stream.



|                                         |  |                 |       |  |                 |  |     |                      |  |  |                   |  |  |                                                 |     |  |     |  |       |     |  |  |       |  |  |  |       | 
|---------------------------------------- |  | --------------- | ----- |  | --------------- |  | --- | -------------------- |  |  | ----------------- |  |  | ----------------------------------------------- | --- |  | --- |  | ----- | --- |  |  | ----- |  |  |  | ----- | 
|                                         |  | Net GasReserves |       |  | Net OilReserves |  |     | Net HeavyNGLReserves |  |  | NetEthaneReserves |  |  | Net Present Value,thousands of US$Discounted at |    
|Reserves Category                        |  | (MMCF)          |       |  | (MBO)           |  |     | (MBO)                |  |  | (MBO)             |  |  | 0%                                              |     |  | 10% |  |       | 15% | 
|Proved Developed Producing, Flat Pricing |  |                 | 108.6 |  |                 |  | 0.0 |                      |  |  | 4.6               |  |  |                                                 | 6.2 |  |     |  | 302.1 |     |  |  | 213.4 |  |  |  | 188.2 | 

Limiting Conditions and Disclaimers

The accuracy of any reserve report or resource evaluation is a function of available data and of engineering and geologic interpretation and judgment. While the evaluation presented herein is believed to
be reasonable, it should be viewed with the understanding that subsequent reservoir performance or changes in pricing structure, market demand, or other economic parameters may justify its revision. The assumptions, data, methods, and procedures
used are appropriate for the purpose served by the report. Gustavson has used all methods and procedures as we considered necessary under the circumstances to prepare the report.

Gustavson Associates, LLC, holds neither direct nor indirect financial interest in the subject property, the company operating the subject acreage, or in any other affiliated companies.

All data and work files utilized in the preparation of this report are available for examination in our offices. Please contact us if we can be of
assistance. We appreciate the opportunity to be of service and look forward to further serving Dejour Energy (USA) Corp.



|                                                            
|------------------------------------------------------------
|Sincerely,                                                  
|                                                            
|LOGO                                                        
|Letha C. Lencioni, P.E.                                     
|GUSTAVSON ASSOCIATES, LLC.                                  
|Vice-President, Petroleum Engineering                       
|Registered Professional Engineer, State of Colorado, # 29506



---

Table 1 Summary Cash Flow Forecast, Proved Developed Producing Reserves, Flat Pricing



|                                  |  |          |  |   |  |            
|--------------------------------- |  | -------- |  | - |  | -----------
|TOTAL PROVED DEVELOPED PRODUCING  |  | DATE     |  | : |  | 3/7/2013   
|SOUTH RANGELY FIELD               |  | TIME     |  | : |  | 14:52:26   
|RIO BLANCO COUNTY, COLORADO       |  | DBS      |  | : |  | Dejour1-12 
|TO THE INTERESTS OF DEJOUR ENERGY |  | SETTINGS |  | : |  | SETDATA    
|                                  |  | SCENARIO |  | : |  | Dejour flat

RESERVES AND ECONOMICS

EFF DATE: 01/2013



|        |  |            |       |  |            |  |         |            |  |  |            |  |  |            |       |  |            |  |         |           |  |  |            |  |  |            |         |  |           |  |         |  |  |  |         |  |  |  |         | 
|------- |  | ---------- | ----- |  | ---------- |  | ------- | ---------- |  |  | ---------- |  |  | ---------- | ----- |  | ---------- |  | ------- | --------- |  |  | ---------- |  |  | ---------- | ------- |  | --------- |  | ------- |  |  |  | ------- |  |  |  | ------- | 
|        |  | GROSS OIL  |       |  | GROSS GAS  |  |         | GROSS NGL  |  |  | NET OIL    |  |  | NET GAS    |       |  | NET NGL    |  |         | NET OIL   |  |  | NET GAS    |  |  | NET NGL    |         |  | TOTAL     | 
|END   |  | PRODUCTION |       |  | PRODUCTION |  |         | PRODUCTION |  |  | PRODUCTION |  |  | PRODUCTION |       |  | PRODUCTION |  |         | REVENUE   |  |  | REVENUE    |  |  | REVENUE    |         |  | REVENUE   | 
|MO-YEAR |  | MBBLS    |       |  | MMCF     |  |         | MBBLS    |  |  | MBBLS    |  |  | MMCF     |       |  | MBBLS    |  |         | M$      |  |  | M$       |  |  | M$       |         |  | M$      | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2013 |  |            | 0.000 |  |            |  | 70.859  |            |  |  | 6.080      |  |  |            | 0.000 |  |            |  | 19.478  |           |  |  | 1.943      |  |  |            | 0.000   |  |           |  | 29.023  |  |  |  | 56.566  |  |  |  | 85.589  | 
|12-2014 |  |            | 0.000 |  |            |  | 48.121  |            |  |  | 4.129      |  |  |            | 0.000 |  |            |  | 13.228  |           |  |  | 1.320      |  |  |            | 0.000   |  |           |  | 19.710  |  |  |  | 38.414  |  |  |  | 58.124  | 
|12-2015 |  |            | 0.000 |  |            |  | 35.585  |            |  |  | 3.053      |  |  |            | 0.000 |  |            |  | 9.782   |           |  |  | 0.976      |  |  |            | 0.000   |  |           |  | 14.575  |  |  |  | 28.407  |  |  |  | 42.982  | 
|12-2016 |  |            | 0.000 |  |            |  | 28.217  |            |  |  | 2.421      |  |  |            | 0.000 |  |            |  | 7.757   |           |  |  | 0.774      |  |  |            | 0.000   |  |           |  | 11.557  |  |  |  | 22.526  |  |  |  | 34.083  | 
|12-2017 |  |            | 0.000 |  |            |  | 23.366  |            |  |  | 2.005      |  |  |            | 0.000 |  |            |  | 6.423   |           |  |  | 0.641      |  |  |            | 0.000   |  |           |  | 9.570   |  |  |  | 18.653  |  |  |  | 28.223  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2018 |  |            | 0.000 |  |            |  | 19.931  |            |  |  | 1.710      |  |  |            | 0.000 |  |            |  | 5.479   |           |  |  | 0.547      |  |  |            | 0.000   |  |           |  | 8.163   |  |  |  | 15.911  |  |  |  | 24.074  | 
|12-2019 |  |            | 0.000 |  |            |  | 17.370  |            |  |  | 1.490      |  |  |            | 0.000 |  |            |  | 4.775   |           |  |  | 0.476      |  |  |            | 0.000   |  |           |  | 7.115   |  |  |  | 13.866  |  |  |  | 20.981  | 
|12-2020 |  |            | 0.000 |  |            |  | 15.389  |            |  |  | 1.320      |  |  |            | 0.000 |  |            |  | 4.230   |           |  |  | 0.422      |  |  |            | 0.000   |  |           |  | 6.303   |  |  |  | 12.285  |  |  |  | 18.588  | 
|12-2021 |  |            | 0.000 |  |            |  | 13.811  |            |  |  | 1.185      |  |  |            | 0.000 |  |            |  | 3.796   |           |  |  | 0.379      |  |  |            | 0.000   |  |           |  | 5.657   |  |  |  | 11.025  |  |  |  | 16.682  | 
|12-2022 |  |            | 0.000 |  |            |  | 12.524  |            |  |  | 1.075      |  |  |            | 0.000 |  |            |  | 3.443   |           |  |  | 0.343      |  |  |            | 0.000   |  |           |  | 5.130   |  |  |  | 9.997   |  |  |  | 15.127  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2023 |  |            | 0.000 |  |            |  | 11.454  |            |  |  | 0.983      |  |  |            | 0.000 |  |            |  | 3.149   |           |  |  | 0.314      |  |  |            | 0.000   |  |           |  | 4.692   |  |  |  | 9.144   |  |  |  | 13.836  | 
|12-2024 |  |            | 0.000 |  |            |  | 10.552  |            |  |  | 0.905      |  |  |            | 0.000 |  |            |  | 2.901   |           |  |  | 0.289      |  |  |            | 0.000   |  |           |  | 4.322   |  |  |  | 8.424   |  |  |  | 12.746  | 
|12-2025 |  |            | 0.000 |  |            |  | 9.780   |            |  |  | 0.839      |  |  |            | 0.000 |  |            |  | 2.689   |           |  |  | 0.268      |  |  |            | 0.000   |  |           |  | 4.006   |  |  |  | 7.808   |  |  |  | 11.814  | 
|12-2026 |  |            | 0.000 |  |            |  | 9.113   |            |  |  | 0.782      |  |  |            | 0.000 |  |            |  | 2.505   |           |  |  | 0.250      |  |  |            | 0.000   |  |           |  | 3.733   |  |  |  | 7.275   |  |  |  | 11.008  | 
|12-2027 |  |            | 0.000 |  |            |  | 8.530   |            |  |  | 0.732      |  |  |            | 0.000 |  |            |  | 2.345   |           |  |  | 0.234      |  |  |            | 0.000   |  |           |  | 3.494   |  |  |  | 6.810   |  |  |  | 10.304  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2028 |  |            | 0.000 |  |            |  | 8.017   |            |  |  | 0.688      |  |  |            | 0.000 |  |            |  | 2.204   |           |  |  | 0.220      |  |  |            | 0.000   |  |           |  | 3.284   |  |  |  | 6.399   |  |  |  | 9.683   | 
|12-2029 |  |            | 0.000 |  |            |  | 7.561   |            |  |  | 0.649      |  |  |            | 0.000 |  |            |  | 2.079   |           |  |  | 0.207      |  |  |            | 0.000   |  |           |  | 3.097   |  |  |  | 6.036   |  |  |  | 9.133   | 
|12-2030 |  |            | 0.000 |  |            |  | 7.154   |            |  |  | 0.614      |  |  |            | 0.000 |  |            |  | 1.967   |           |  |  | 0.196      |  |  |            | 0.000   |  |           |  | 2.930   |  |  |  | 5.712   |  |  |  | 8.642   | 
|12-2031 |  |            | 0.000 |  |            |  | 6.788   |            |  |  | 0.582      |  |  |            | 0.000 |  |            |  | 1.866   |           |  |  | 0.186      |  |  |            | 0.000   |  |           |  | 2.780   |  |  |  | 5.419   |  |  |  | 8.199   | 
|12-2032 |  |            | 0.000 |  |            |  | 6.448   |            |  |  | 0.553      |  |  |            | 0.000 |  |            |  | 1.773   |           |  |  | 0.177      |  |  |            | 0.000   |  |           |  | 2.641   |  |  |  | 5.148   |  |  |  | 7.789   | 
|        |  |            |       |  |            |  |         |            |  | 
|S TOT   |  |            | 0.000 |  |            |  | 370.572 |            |  |  | 31.795     |  |  |            | 0.000 |  |            |  | 101.867 |           |  |  | 10.163     |  |  |            | 0.000   |  |           |  | 151.781 |  |  |  | 295.825 |  |  |  | 447.606 | 
|        |  |            |       |  |            |  |         |            |  | 
|AFTER   |  |            | 0.000 |  |            |  | 24.418  |            |  |  | 2.095      |  |  |            | 0.000 |  |            |  | 6.712   |           |  |  | 0.670      |  |  |            | 0.000   |  |           |  | 10.001  |  |  |  | 19.493  |  |  |  | 29.494  | 
|        |  |            |       |  |            |  |         |            |  | 
|TOTAL   |  |            | 0.000 |  |            |  | 394.990 |            |  |  | 33.890     |  |  |            | 0.000 |  |            |  | 108.579 |           |  |  | 10.833     |  |  |            | 0.000   |  |           |  | 161.783 |  |  |  | 315.318 |  |  |  | 477.100 | 
|        |  |            |       |  |            |  |         |            |  | 
|        |  | NET OIL    |       |  | NET GAS    |  |         | NET NGL    |  |  | SEVERANCE  |  |  | AD VALOREM |       |  | NET OPER   |  |         | OPERATING |  |  | EQUITY     |  |  | UNDISC NET |         |  | DISC NET  | 
|END   |  | PRICE      |       |  | PRICE      |  |         | PRICE      |  |  | TAXES      |  |  | TAXES      |       |  | EXPENSES   |  |         | CASH FLOW |  |  | INVESTMENT |  |  | CASH FLOW  |         |  | CASH FLOW | 
|MO-YEAR |  | M$       |       |  | M$       |  |         | M$       |  |  | M$       |  |  | M$       |       |  | M$       |  |         | M$      |  |  | M$       |  |  | M$       |         |  | M$      | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2013 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 5.991   |           |  |  | 5.657      |  |  |            | 73.941  |  |           |  | 0.000   |  |  |  | 73.941  |  |  |  | 70.500  | 
|12-2014 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 4.069   |           |  |  | 5.657      |  |  |            | 48.398  |  |           |  | 0.000   |  |  |  | 48.398  |  |  |  | 41.951  | 
|12-2015 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 3.009   |           |  |  | 5.657      |  |  |            | 34.316  |  |           |  | 0.000   |  |  |  | 34.316  |  |  |  | 27.041  | 
|12-2016 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 2.386   |           |  |  | 5.657      |  |  |            | 26.040  |  |           |  | 0.000   |  |  |  | 26.040  |  |  |  | 18.654  | 
|12-2017 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.976   |           |  |  | 5.657      |  |  |            | 20.591  |  |           |  | 0.000   |  |  |  | 20.591  |  |  |  | 13.409  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2018 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.685   |           |  |  | 5.657      |  |  |            | 16.731  |  |           |  | 0.000   |  |  |  | 16.731  |  |  |  | 9.905   | 
|12-2019 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.469   |           |  |  | 5.657      |  |  |            | 13.855  |  |           |  | 0.000   |  |  |  | 13.855  |  |  |  | 7.457   | 
|12-2020 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.301   |           |  |  | 5.657      |  |  |            | 11.630  |  |           |  | 0.000   |  |  |  | 11.630  |  |  |  | 5.690   | 
|12-2021 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.168   |           |  |  | 5.657      |  |  |            | 9.857   |  |           |  | 0.000   |  |  |  | 9.857   |  |  |  | 4.384   | 
|12-2022 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 1.059   |           |  |  | 5.657      |  |  |            | 8.411   |  |           |  | 0.000   |  |  |  | 8.411   |  |  |  | 3.401   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2023 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.968   |           |  |  | 5.657      |  |  |            | 7.210   |  |           |  | 0.000   |  |  |  | 7.210   |  |  |  | 2.650   | 
|12-2024 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.892   |           |  |  | 5.657      |  |  |            | 6.196   |  |           |  | 0.000   |  |  |  | 6.196   |  |  |  | 2.071   | 
|12-2025 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.827   |           |  |  | 5.657      |  |  |            | 5.329   |  |           |  | 0.000   |  |  |  | 5.329   |  |  |  | 1.619   | 
|12-2026 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.771   |           |  |  | 5.657      |  |  |            | 4.580   |  |           |  | 0.000   |  |  |  | 4.580   |  |  |  | 1.265   | 
|12-2027 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.721   |           |  |  | 5.657      |  |  |            | 3.925   |  |           |  | 0.000   |  |  |  | 3.925   |  |  |  | 0.986   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2028 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.678   |           |  |  | 5.657      |  |  |            | 3.348   |  |           |  | 0.000   |  |  |  | 3.348   |  |  |  | 0.764   | 
|12-2029 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.639   |           |  |  | 5.657      |  |  |            | 2.837   |  |           |  | 0.000   |  |  |  | 2.837   |  |  |  | 0.589   | 
|12-2030 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.605   |           |  |  | 5.657      |  |  |            | 2.379   |  |           |  | 0.000   |  |  |  | 2.379   |  |  |  | 0.449   | 
|12-2031 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.574   |           |  |  | 5.657      |  |  |            | 1.968   |  |           |  | 0.000   |  |  |  | 1.968   |  |  |  | 0.337   | 
|12-2032 |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 0.545   |           |  |  | 5.657      |  |  |            | 1.586   |  |           |  | 0.000   |  |  |  | 1.586   |  |  |  | 0.247   | 
|        |  |            |       |  |            |  |         |            |  | 
|S TOT   |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 31.332  |           |  |  | 113.144    |  |  |            | 303.130 |  |           |  | 0.000   |  |  |  | 303.130 |  |  |  | 213.369 | 
|        |  |            |       |  |            |  |         |            |  | 
|AFTER   |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 2.065   |           |  |  | 24.514     |  |  |            | 2.915   |  |           |  | 3.929   |  |  |  | 1.013  |  |  |  | 0.010  | 
|        |  |            |       |  |            |  |         |            |  | 
|TOTAL   |  |            | 0.00  |  |            |  | 1.49    |            |  |  | 29.11      |  |  |            | 0.000 |  |            |  | 33.397  |           |  |  | 137.658    |  |  |            | 306.045 |  |           |  | 3.929   |  |  |  | 302.116 |  |  |  | 213.358 | 



OIL


GASGROSS WELLS


0



1GROSS ULT., MB & MMF


0



396.144GROSS CUM., MB & MMF


0



1.154GROSS RES., MB & MMF


0



394.99NET RES., MB & MMF


0



108.579NET REVENUE, M$


0



161.783INITIAL PRICE, $


0



1.49INITIAL N.I., PCT.


0



31.964


P.W. %


P.W., M$LIFE, YRS.


24.33



5



248.894DISCOUNT %


10



10



213.358UNDISCOUNTED PAYOUT, YRS.


0



15



188.173DISCOUNTED PAYOUT, YRS.


0



20



169.41UNDISCOUNTED NET/INVEST.


77.9



25



154.86DISCOUNTED NET/INVEST.


548.83



30



143.211RATE-OF-RETURN, PCT.


100



40



125.622INITIAL W.I., PCT.


39.286



60



103.12380



89.07100



79.308






---

Table 2 Summary Cash Flow Forecast, Proved Developed Non-Producing Reserves, Flat Pricing



|                                     |  |          |  |   |  |            
|------------------------------------ |  | -------- |  | - |  | -----------
|TOTAL PROVED DEVELOPED NON-PRODUCING |  | DATE     |  | : |  | 3/7/2013   
|KOKOPELLI FIELD                      |  | TIME     |  | : |  | 14:52:27   
|GARFIELD COUNTY, COLORADO            |  | DBS      |  | : |  | Dejour1-12 
|TO THE INTERESTS OF DEJOUR ENERGY    |  | SETTINGS |  | : |  | SETDATA    
|                                     |  | SCENARIO |  | : |  | Dejour flat

RESERVES AND ECONOMICS

EFF DATE: 01/2013



|        |  |            |       |  |            |  |         |            |  |  |            |  |  |            |       |  |            |  |        |           |  |  |            |  |  |            |         |  |           |  |         |  |  |  |         |  |  |  |         | 
|------- |  | ---------- | ----- |  | ---------- |  | ------- | ---------- |  |  | ---------- |  |  | ---------- | ----- |  | ---------- |  | ------ | --------- |  |  | ---------- |  |  | ---------- | ------- |  | --------- |  | ------- |  |  |  | ------- |  |  |  | ------- | 
|        |  | GROSS OIL  |       |  | GROSS GAS  |  |         | GROSS NGL  |  |  | NET OIL    |  |  | NET GAS    |       |  | NET NGL    |  |        | NET OIL   |  |  | NET GAS    |  |  | NET NGL    |         |  | TOTAL     | 
|END   |  | PRODUCTION |       |  | PRODUCTION |  |         | PRODUCTION |  |  | PRODUCTION |  |  | PRODUCTION |       |  | PRODUCTION |  |        | REVENUE   |  |  | REVENUE    |  |  | REVENUE    |         |  | REVENUE   | 
|MO-YEAR |  | MBBLS    |       |  | MMCF     |  |         | MBBLS    |  |  | MBBLS    |  |  | MMCF     |       |  | MBBLS    |  |        | M$      |  |  | M$       |  |  | M$       |         |  | M$      | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2013 |  |            | 1.249 |  |            |  | 174.648 |            |  |  | 16.363     |  |  |            | 0.100 |  |            |  | 12.016 |           |  |  | 1.309      |  |  |            | 8.833   |  |           |  | 17.903  |  |  |  | 42.452  |  |  |  | 69.188  | 
|12-2014 |  |            | 0.851 |  |            |  | 118.978 |            |  |  | 11.147     |  |  |            | 0.068 |  |            |  | 8.186  |           |  |  | 0.892      |  |  |            | 6.017   |  |           |  | 12.197  |  |  |  | 28.920  |  |  |  | 47.134  | 
|12-2015 |  |            | 0.558 |  |            |  | 78.033  |            |  |  | 7.311      |  |  |            | 0.045 |  |            |  | 5.369  |           |  |  | 0.585      |  |  |            | 3.947   |  |           |  | 7.999   |  |  |  | 18.967  |  |  |  | 30.913  | 
|12-2016 |  |            | 0.430 |  |            |  | 60.161  |            |  |  | 5.637      |  |  |            | 0.034 |  |            |  | 4.139  |           |  |  | 0.451      |  |  |            | 3.043   |  |           |  | 6.167   |  |  |  | 14.623  |  |  |  | 23.833  | 
|12-2017 |  |            | 0.356 |  |            |  | 49.775  |            |  |  | 4.663      |  |  |            | 0.028 |  |            |  | 3.425  |           |  |  | 0.373      |  |  |            | 2.517   |  |           |  | 5.103   |  |  |  | 12.099  |  |  |  | 19.719  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2018 |  |            | 0.307 |  |            |  | 42.868  |            |  |  | 4.016      |  |  |            | 0.025 |  |            |  | 2.949  |           |  |  | 0.321      |  |  |            | 2.168   |  |           |  | 4.394   |  |  |  | 10.420  |  |  |  | 16.982  | 
|12-2019 |  |            | 0.271 |  |            |  | 37.893  |            |  |  | 3.550      |  |  |            | 0.022 |  |            |  | 2.607  |           |  |  | 0.284      |  |  |            | 1.916   |  |           |  | 3.884   |  |  |  | 9.211   |  |  |  | 15.011  | 
|12-2020 |  |            | 0.244 |  |            |  | 34.112  |            |  |  | 3.196      |  |  |            | 0.020 |  |            |  | 2.347  |           |  |  | 0.256      |  |  |            | 1.725   |  |           |  | 3.497   |  |  |  | 8.292   |  |  |  | 13.514  | 
|12-2021 |  |            | 0.223 |  |            |  | 31.127  |            |  |  | 2.916      |  |  |            | 0.018 |  |            |  | 2.142  |           |  |  | 0.233      |  |  |            | 1.574   |  |           |  | 3.191   |  |  |  | 7.566   |  |  |  | 12.331  | 
|12-2022 |  |            | 0.205 |  |            |  | 28.701  |            |  |  | 2.689      |  |  |            | 0.016 |  |            |  | 1.975  |           |  |  | 0.215      |  |  |            | 1.452   |  |           |  | 2.942   |  |  |  | 6.976   |  |  |  | 11.370  | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2023 |  |            | 0.191 |  |            |  | 26.685  |            |  |  | 2.500      |  |  |            | 0.015 |  |            |  | 1.836  |           |  |  | 0.200      |  |  |            | 1.350   |  |           |  | 2.736   |  |  |  | 6.485   |  |  |  | 10.571  | 
|12-2024 |  |            | 0.179 |  |            |  | 24.978  |            |  |  | 2.340      |  |  |            | 0.014 |  |            |  | 1.719  |           |  |  | 0.187      |  |  |            | 1.263   |  |           |  | 2.561   |  |  |  | 6.071   |  |  |  | 9.895   | 
|12-2025 |  |            | 0.168 |  |            |  | 23.512  |            |  |  | 2.203      |  |  |            | 0.013 |  |            |  | 1.618  |           |  |  | 0.176      |  |  |            | 1.189   |  |           |  | 2.410   |  |  |  | 5.716   |  |  |  | 9.315   | 
|12-2026 |  |            | 0.159 |  |            |  | 22.237  |            |  |  | 2.083      |  |  |            | 0.013 |  |            |  | 1.530  |           |  |  | 0.167      |  |  |            | 1.125   |  |           |  | 2.280   |  |  |  | 5.404   |  |  |  | 8.809   | 
|12-2027 |  |            | 0.151 |  |            |  | 21.108  |            |  |  | 1.978      |  |  |            | 0.012 |  |            |  | 1.452  |           |  |  | 0.158      |  |  |            | 1.068   |  |           |  | 2.164   |  |  |  | 5.130   |  |  |  | 8.362   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2028 |  |            | 0.143 |  |            |  | 20.052  |            |  |  | 1.879      |  |  |            | 0.011 |  |            |  | 1.380  |           |  |  | 0.150      |  |  |            | 1.014   |  |           |  | 2.056   |  |  |  | 4.874   |  |  |  | 7.944   | 
|12-2029 |  |            | 0.136 |  |            |  | 19.050  |            |  |  | 1.785      |  |  |            | 0.011 |  |            |  | 1.311  |           |  |  | 0.143      |  |  |            | 0.963   |  |           |  | 1.953   |  |  |  | 4.631   |  |  |  | 7.547   | 
|12-2030 |  |            | 0.129 |  |            |  | 18.097  |            |  |  | 1.696      |  |  |            | 0.010 |  |            |  | 1.245  |           |  |  | 0.136      |  |  |            | 0.915   |  |           |  | 1.855   |  |  |  | 4.399   |  |  |  | 7.169   | 
|12-2031 |  |            | 0.123 |  |            |  | 17.192  |            |  |  | 1.611      |  |  |            | 0.010 |  |            |  | 1.183  |           |  |  | 0.129      |  |  |            | 0.870   |  |           |  | 1.762   |  |  |  | 4.179   |  |  |  | 6.811   | 
|12-2032 |  |            | 0.117 |  |            |  | 16.333  |            |  |  | 1.530      |  |  |            | 0.009 |  |            |  | 1.124  |           |  |  | 0.122      |  |  |            | 0.826   |  |           |  | 1.674   |  |  |  | 3.970   |  |  |  | 6.470   | 
|        |  |            |       |  |            |  |         |            |  | 
|S TOT   |  |            | 6.189 |  |            |  | 865.540 |            |  |  | 81.093     |  |  |            | 0.495 |  |            |  | 59.549 |           |  |  | 6.487      |  |  |            | 43.776  |  |           |  | 88.728  |  |  |  | 210.385 |  |  |  | 342.889 | 
|        |  |            |       |  |            |  |         |            |  | 
|AFTER   |  |            | 0.856 |  |            |  | 119.693 |            |  |  | 11.214     |  |  |            | 0.068 |  |            |  | 8.235  |           |  |  | 0.897      |  |  |            | 6.054   |  |           |  | 12.270  |  |  |  | 29.093  |  |  |  | 47.417  | 
|        |  |            |       |  |            |  |         |            |  | 
|TOTAL   |  |            | 7.044 |  |            |  | 985.232 |            |  |  | 92.308     |  |  |            | 0.564 |  |            |  | 67.784 |           |  |  | 7.385      |  |  |            | 49.829  |  |           |  | 100.998 |  |  |  | 239.478 |  |  |  | 390.306 | 
|        |  |            |       |  |            |  |         |            |  | 
|        |  | NET OIL    |       |  | NET GAS    |  |         | NET NGL    |  |  | SEVERANCE  |  |  | AD VALOREM |       |  | NET OPER   |  |        | OPERATING |  |  | EQUITY     |  |  | UNDISC NET |         |  | DISC NET  | 
|END   |  | PRICE      |       |  | PRICE      |  |         | PRICE      |  |  | TAXES      |  |  | TAXES      |       |  | EXPENSES   |  |        | CASH FLOW |  |  | INVESTMENT |  |  | CASH FLOW  |         |  | CASH FLOW | 
|MO-YEAR |  | M$       |       |  | M$       |  |         | M$       |  |  | M$       |  |  | M$       |       |  | M$       |  |        | M$      |  |  | M$       |  |  | M$       |         |  | M$      | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2013 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 4.843  |           |  |  | 2.400      |  |  |            | 61.945  |  |           |  | 0.000   |  |  |  | 61.945  |  |  |  | 59.062  | 
|12-2014 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 3.299  |           |  |  | 3.600      |  |  |            | 40.234  |  |           |  | 0.000   |  |  |  | 40.234  |  |  |  | 34.874  | 
|12-2015 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 2.164  |           |  |  | 3.600      |  |  |            | 25.149  |  |           |  | 0.000   |  |  |  | 25.149  |  |  |  | 19.817  | 
|12-2016 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 1.668  |           |  |  | 3.600      |  |  |            | 18.565  |  |           |  | 0.000   |  |  |  | 18.565  |  |  |  | 13.299  | 
|12-2017 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 1.380  |           |  |  | 3.600      |  |  |            | 14.738  |  |           |  | 0.000   |  |  |  | 14.738  |  |  |  | 9.598   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2018 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 1.189  |           |  |  | 3.600      |  |  |            | 12.194  |  |           |  | 0.000   |  |  |  | 12.194  |  |  |  | 7.219   | 
|12-2019 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 1.051  |           |  |  | 3.600      |  |  |            | 10.361  |  |           |  | 0.000   |  |  |  | 10.361  |  |  |  | 5.576   | 
|12-2020 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.946  |           |  |  | 3.600      |  |  |            | 8.968   |  |           |  | 0.000   |  |  |  | 8.968   |  |  |  | 4.388   | 
|12-2021 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.863  |           |  |  | 3.600      |  |  |            | 7.868   |  |           |  | 0.000   |  |  |  | 7.868   |  |  |  | 3.500   | 
|12-2022 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.796  |           |  |  | 3.600      |  |  |            | 6.974   |  |           |  | 0.000   |  |  |  | 6.974   |  |  |  | 2.820   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2023 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.740  |           |  |  | 3.600      |  |  |            | 6.231   |  |           |  | 0.000   |  |  |  | 6.231   |  |  |  | 2.291   | 
|12-2024 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.693  |           |  |  | 3.600      |  |  |            | 5.603   |  |           |  | 0.000   |  |  |  | 5.603   |  |  |  | 1.872   | 
|12-2025 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.652  |           |  |  | 3.600      |  |  |            | 5.063   |  |           |  | 0.000   |  |  |  | 5.063   |  |  |  | 1.538   | 
|12-2026 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.617  |           |  |  | 3.600      |  |  |            | 4.593   |  |           |  | 0.000   |  |  |  | 4.593   |  |  |  | 1.268   | 
|12-2027 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.585  |           |  |  | 3.600      |  |  |            | 4.177   |  |           |  | 0.000   |  |  |  | 4.177   |  |  |  | 1.049   | 
|        |  |            |       |  |            |  |         |            |  | 
|12-2028 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.556  |           |  |  | 3.600      |  |  |            | 3.788   |  |           |  | 0.000   |  |  |  | 3.788   |  |  |  | 0.865   | 
|12-2029 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.528  |           |  |  | 3.600      |  |  |            | 3.418   |  |           |  | 0.000   |  |  |  | 3.418   |  |  |  | 0.709   | 
|12-2030 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.502  |           |  |  | 3.600      |  |  |            | 3.067   |  |           |  | 0.000   |  |  |  | 3.067   |  |  |  | 0.579   | 
|12-2031 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.477  |           |  |  | 3.600      |  |  |            | 2.734   |  |           |  | 0.000   |  |  |  | 2.734   |  |  |  | 0.469   | 
|12-2032 |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 0.453  |           |  |  | 3.600      |  |  |            | 2.417   |  |           |  | 0.000   |  |  |  | 2.417   |  |  |  | 0.377   | 
|        |  |            |       |  |            |  |         |            |  | 
|S TOT   |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 24.002 |           |  |  | 70.800     |  |  |            | 248.087 |  |           |  | 0.000   |  |  |  | 248.087 |  |  |  | 171.170 | 
|        |  |            |       |  |            |  |         |            |  | 
|AFTER   |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 3.319  |           |  |  | 34.200     |  |  |            | 9.898   |  |           |  | 1.000   |  |  |  | 8.898   |  |  |  | 1.062   | 
|        |  |            |       |  |            |  |         |            |  | 
|TOTAL   |  |            | 88.42 |  |            |  | 1.49    |            |  |  | 32.43      |  |  |            | 0.000 |  |            |  | 27.321 |           |  |  | 105.000    |  |  |            | 257.985 |  |           |  | 1.000   |  |  |  | 256.985 |  |  |  | 172.232 | 



OIL


GASGROSS WELLS


0



1GROSS ULT., MB & MMF


7.044



985.233GROSS CUM., MB & MMF


0



0GROSS RES., MB & MMF


7.044



985.233NET RES., MB & MMF


0.564



67.784NET REVENUE, M$


49.829



100.998INITIAL PRICE, $


88.42



1.49INITIAL N.I., PCT.


8



8.000


P.W. %


P.W., M$LIFE, YRS.


29.5



5



204.03DISCOUNT %


10



10



172.232UNDISCOUNTED PAYOUT, YRS


0



15



151.072DISCOUNTED PAYOUT, YRS.


0



20



135.874UNDISCOUNTED NET/INVEST.


257.98



25



124.33DISCOUNTED NET/INVEST.


2843.81



30



115.192RATE-OF-RETURN, PCT.


100



40



101.492INITIAL W.I., PCT.


10



60



83.97980



72.959100



65.237






---

Table 3 Summary Cash Flow Forecast, Proved Undeveloped Reserves, Flat Pricing



|                                  |  |          |  |   |  |            
|--------------------------------- |  | -------- |  | - |  | -----------
|TOTAL PROVED UNDEVELOPED          |  | DATE     |  | : |  | 3/7/2013   
|KOKOPELLI FIELD                   |  | TIME     |  | : |  | 14:51:22   
|GARFIELD COUNTY, COLORADO         |  | DBS      |  | : |  | Dejour1-12 
|TO THE INTERESTS OF DEJOUR ENERGY |  | SETTINGS |  | : |  | SETDATA    
|                                  |  | SCENARIO |  | : |  | Dejour flat

RESERVES AND ECONOMICS

EFF DATE: 01/2013



|        |  |            |         |  |            |  |           |            |  |  |            |  |  |            |         |  |            |  |           |           |  |  |            |  |  |            |            |  |           |  |           |  |  |  |            |  |  |  |            | 
|------- |  | ---------- | ------- |  | ---------- |  | --------- | ---------- |  |  | ---------- |  |  | ---------- | ------- |  | ---------- |  | --------- | --------- |  |  | ---------- |  |  | ---------- | ---------- |  | --------- |  | --------- |  |  |  | ---------- |  |  |  | ---------- | 
|        |  | GROSS OIL  |         |  | GROSS GAS  |  |           | GROSS NGL  |  |  | NET OIL    |  |  | NET GAS    |         |  | NET NGL    |  |           | NET OIL   |  |  | NET GAS    |  |  | NET NGL    |            |  | TOTAL     | 
|END   |  | PRODUCTION |         |  | PRODUCTION |  |           | PRODUCTION |  |  | PRODUCTION |  |  | PRODUCTION |         |  | PRODUCTION |  |           | REVENUE   |  |  | REVENUE    |  |  | REVENUE    |            |  | REVENUE   | 
|MO-YEAR |  | MBBLS    |         |  | MMCF     |  |           | MBBLS    |  |  | MBBLS    |  |  | MMCF     |         |  | MBBLS    |  |           | M$      |  |  | M$       |  |  | M$       |            |  | M$      | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2013 |  |            | 6.686   |  |            |  | 935.139   |            |  |  | 87.614     |  |  |            | 2.100   |  |            |  | 252.530   |           |  |  | 27.511     |  |  |            | 185.640    |  |           |  | 376.269   |  |  |  | 892.179    |  |  |  | 1454.088   | 
|12-2014 |  |            | 25.723  |  |            |  | 3597.646  |            |  |  | 337.067    |  |  |            | 13.526  |  |            |  | 1626.880  |           |  |  | 177.237    |  |  |            | 1195.951   |  |           |  | 2424.050  |  |  |  | 5747.712   |  |  |  | 9367.713   | 
|12-2015 |  |            | 37.260  |  |            |  | 5211.146  |            |  |  | 488.238    |  |  |            | 20.521  |  |            |  | 2468.290  |           |  |  | 268.903    |  |  |            | 1814.489   |  |           |  | 3677.751  |  |  |  | 8720.386   |  |  |  | 14212.626  | 
|12-2016 |  |            | 45.315  |  |            |  | 6337.820  |            |  |  | 593.797    |  |  |            | 25.300  |  |            |  | 3043.123  |           |  |  | 331.527    |  |  |            | 2237.061   |  |           |  | 4534.255  |  |  |  | 10751.254  |  |  |  | 17522.570  | 
|12-2017 |  |            | 51.701  |  |            |  | 7230.904  |            |  |  | 677.471    |  |  |            | 29.051  |  |            |  | 3494.299  |           |  |  | 380.680    |  |  |            | 2568.729   |  |           |  | 5206.508  |  |  |  | 12345.245  |  |  |  | 20120.482  | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2018 |  |            | 44.538  |  |            |  | 6229.152  |            |  |  | 583.616    |  |  |            | 25.027  |  |            |  | 3010.221  |           |  |  | 327.943    |  |  |            | 2212.874   |  |           |  | 4485.231  |  |  |  | 10635.016  |  |  |  | 17333.121  | 
|12-2019 |  |            | 31.585  |  |            |  | 4417.472  |            |  |  | 413.878    |  |  |            | 17.674  |  |            |  | 2125.851  |           |  |  | 231.597    |  |  |            | 1562.754   |  |           |  | 3167.518  |  |  |  | 7510.559   |  |  |  | 12240.831  | 
|12-2020 |  |            | 25.787  |  |            |  | 3606.612  |            |  |  | 337.907    |  |  |            | 14.399  |  |            |  | 1731.871  |           |  |  | 188.676    |  |  |            | 1273.133   |  |           |  | 2580.489  |  |  |  | 6118.647   |  |  |  | 9972.269   | 
|12-2021 |  |            | 22.163  |  |            |  | 3099.669  |            |  |  | 290.411    |  |  |            | 12.357  |  |            |  | 1486.296  |           |  |  | 161.922    |  |  |            | 1092.606   |  |           |  | 2214.583  |  |  |  | 5251.035   |  |  |  | 8558.224   | 
|12-2022 |  |            | 19.609  |  |            |  | 2742.463  |            |  |  | 256.944    |  |  |            | 10.922  |  |            |  | 1313.639  |           |  |  | 143.112    |  |  |            | 965.682    |  |           |  | 1957.322  |  |  |  | 4641.042   |  |  |  | 7564.046   | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2023 |  |            | 17.684  |  |            |  | 2473.323  |            |  |  | 231.728    |  |  |            | 9.842   |  |            |  | 1183.773  |           |  |  | 128.964    |  |  |            | 870.215    |  |           |  | 1763.822  |  |  |  | 4182.231   |  |  |  | 6816.268   | 
|12-2024 |  |            | 16.169  |  |            |  | 2261.429  |            |  |  | 211.876    |  |  |            | 8.993   |  |            |  | 1081.670  |           |  |  | 117.841    |  |  |            | 795.157    |  |           |  | 1611.688  |  |  |  | 3821.505   |  |  |  | 6228.350   | 
|12-2025 |  |            | 14.938  |  |            |  | 2089.275  |            |  |  | 195.746    |  |  |            | 8.304   |  |            |  | 998.810   |           |  |  | 108.814    |  |  |            | 734.245    |  |           |  | 1488.228  |  |  |  | 3528.764   |  |  |  | 5751.237   | 
|12-2026 |  |            | 13.914  |  |            |  | 1946.045  |            |  |  | 182.327    |  |  |            | 7.731   |  |            |  | 929.937   |           |  |  | 101.310    |  |  |            | 683.615    |  |           |  | 1385.606  |  |  |  | 3285.441   |  |  |  | 5354.662   | 
|12-2027 |  |            | 13.052  |  |            |  | 1825.403  |            |  |  | 171.024    |  |  |            | 7.248   |  |            |  | 871.775   |           |  |  | 94.974     |  |  |            | 640.859    |  |           |  | 1298.944  |  |  |  | 3079.951   |  |  |  | 5019.754   | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2028 |  |            | 12.341  |  |            |  | 1726.043  |            |  |  | 161.715    |  |  |            | 6.848   |  |            |  | 823.708   |           |  |  | 89.737     |  |  |            | 605.524    |  |           |  | 1227.324  |  |  |  | 2910.132   |  |  |  | 4742.980   | 
|12-2029 |  |            | 11.763  |  |            |  | 1645.215  |            |  |  | 154.142    |  |  |            | 6.524   |  |            |  | 784.722   |           |  |  | 85.490     |  |  |            | 576.865    |  |           |  | 1169.237  |  |  |  | 2772.401   |  |  |  | 4518.503   | 
|12-2030 |  |            | 11.291  |  |            |  | 1579.105  |            |  |  | 147.948    |  |  |            | 6.260   |  |            |  | 752.948   |           |  |  | 82.029     |  |  |            | 553.507    |  |           |  | 1121.894  |  |  |  | 2660.142   |  |  |  | 4335.543   | 
|12-2031 |  |            | 10.902  |  |            |  | 1524.739  |            |  |  | 142.854    |  |  |            | 6.044   |  |            |  | 726.923   |           |  |  | 79.193     |  |  |            | 534.376    |  |           |  | 1083.116  |  |  |  | 2568.197   |  |  |  | 4185.689   | 
|12-2032 |  |            | 10.569  |  |            |  | 1478.242  |            |  |  | 138.498    |  |  |            | 5.859   |  |            |  | 704.744   |           |  |  | 76.777     |  |  |            | 518.072    |  |           |  | 1050.070  |  |  |  | 2489.842   |  |  |  | 4057.984   | 
|        |  |            |         |  |            |  |           |            |  | 
|S TOT   |  |            | 442.991 |  |            |  | 61956.848 |            |  |  | 5804.805   |  |  |            | 244.530 |  |            |  | 29412.008 |           |  |  | 3204.236   |  |  |            | 21621.354  |  |           |  | 43823.898 |  |  |  | 103911.681 |  |  |  | 169356.922 | 
|        |  |            |         |  |            |  |           |            |  | 
|AFTER   |  |            | 169.802 |  |            |  | 23748.488 |            |  |  | 2225.022   |  |  |            | 94.359  |  |            |  | 11349.498 |           |  |  | 1236.450   |  |  |            | 8343.241   |  |           |  | 16910.754 |  |  |  | 40097.411  |  |  |  | 65351.406  | 
|        |  |            |         |  |            |  |           |            |  | 
|TOTAL   |  |            | 612.793 |  |            |  | 85705.336 |            |  |  | 8029.827   |  |  |            | 338.889 |  |            |  | 40761.504 |           |  |  | 4440.686   |  |  |            | 29964.596  |  |           |  | 60734.656 |  |  |  | 144009.092 |  |  |  | 234708.344 | 
|        |  |            |         |  |            |  |           |            |  | 
|        |  | NET OIL    |         |  | NET GAS    |  |           | NET NGL    |  |  | SEVERANCE  |  |  | AD VALOREM |         |  | NET OPER   |  |           | OPERATING |  |  | EQUITY     |  |  | UNDISC NET |            |  | DISC NET  | 
|END   |  | PRICE      |         |  | PRICE      |  |           | PRICE      |  |  | TAXES      |  |  | TAXES      |         |  | EXPENSES   |  |           | CASH FLOW |  |  | INVESTMENT |  |  | CASH FLOW  |            |  | CASH FLOW | 
|MO-YEAR |  | M$       |         |  | M$       |  |           | M$       |  |  | M$       |  |  | M$       |         |  | M$       |  |           | M$      |  |  | M$       |  |  | M$       |            |  | M$      | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2013 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 101.786   |           |  |  | 35.795     |  |  |            | 1316.507   |  |           |  | 10571.640 |  |  |  | 9255.133  |  |  |  | 8626.330  | 
|12-2014 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 655.740   |           |  |  | 375.127    |  |  |            | 8336.849   |  |           |  | 21143.283 |  |  |  | 12806.432 |  |  |  | 11178.706 | 
|12-2015 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 994.884   |           |  |  | 786.564    |  |  |            | 12431.179  |  |           |  | 21143.283 |  |  |  | 8712.100  |  |  |  | 6936.184  | 
|12-2016 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 1226.580  |           |  |  | 1198.001   |  |  |            | 15097.994  |  |           |  | 21143.283 |  |  |  | 6045.285  |  |  |  | 4395.249  | 
|12-2017 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 1408.434  |           |  |  | 1609.437   |  |  |            | 17102.611  |  |           |  | 21143.283 |  |  |  | 4040.663  |  |  |  | 2690.215  | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2018 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 1213.318  |           |  |  | 1866.584   |  |  |            | 14253.216  |  |           |  | 0.000     |  |  |  | 14253.216  |  |  |  | 8438.263   | 
|12-2019 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 856.858   |           |  |  | 1866.584   |  |  |            | 9517.385   |  |           |  | 0.000     |  |  |  | 9517.385   |  |  |  | 5122.303   | 
|12-2020 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 698.059   |           |  |  | 1866.584   |  |  |            | 7407.621   |  |           |  | 0.000     |  |  |  | 7407.621   |  |  |  | 3624.379   | 
|12-2021 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 599.076   |           |  |  | 1866.584   |  |  |            | 6092.565   |  |           |  | 0.000     |  |  |  | 6092.565   |  |  |  | 2709.958   | 
|12-2022 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 529.483   |           |  |  | 1866.584   |  |  |            | 5167.980   |  |           |  | 0.000     |  |  |  | 5167.980   |  |  |  | 2089.730   | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2023 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 477.139   |           |  |  | 1866.584   |  |  |            | 4472.545   |  |           |  | 0.000     |  |  |  | 4472.545   |  |  |  | 1644.112   | 
|12-2024 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 435.984   |           |  |  | 1866.584   |  |  |            | 3925.780   |  |           |  | 0.000     |  |  |  | 3925.780   |  |  |  | 1311.928   | 
|12-2025 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 402.587   |           |  |  | 1866.584   |  |  |            | 3482.066   |  |           |  | 0.000     |  |  |  | 3482.066   |  |  |  | 1057.861   | 
|12-2026 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 374.826   |           |  |  | 1866.584   |  |  |            | 3113.249   |  |           |  | 0.000     |  |  |  | 3113.249   |  |  |  | 859.830    | 
|12-2027 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 351.383   |           |  |  | 1866.584   |  |  |            | 2801.787   |  |           |  | 0.000     |  |  |  | 2801.787   |  |  |  | 703.463    | 
|        |  |            |         |  |            |  |           |            |  | 
|12-2028 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 332.009   |           |  |  | 1866.584   |  |  |            | 2544.386   |  |           |  | 0.000     |  |  |  | 2544.386   |  |  |  | 580.760    | 
|12-2029 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 316.295   |           |  |  | 1866.584   |  |  |            | 2335.622   |  |           |  | 0.000     |  |  |  | 2335.622   |  |  |  | 484.644    | 
|12-2030 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 303.488   |           |  |  | 1866.584   |  |  |            | 2165.469   |  |           |  | 0.000     |  |  |  | 2165.469   |  |  |  | 408.489    | 
|12-2031 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 292.998   |           |  |  | 1866.584   |  |  |            | 2026.104   |  |           |  | 0.000     |  |  |  | 2026.104   |  |  |  | 347.454    | 
|12-2032 |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 284.059   |           |  |  | 1866.584   |  |  |            | 1907.337   |  |           |  | 0.000     |  |  |  | 1907.337   |  |  |  | 297.351    | 
|        |  |            |         |  |            |  |           |            |  | 
|S TOT   |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 11854.987 |           |  |  | 32003.686  |  |  |            | 125498.250 |  |           |  | 95144.766 |  |  |  | 30353.496  |  |  |  | 4146.157  | 
|        |  |            |         |  |            |  |           |            |  | 
|AFTER   |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 4574.598  |           |  |  | 42193.039  |  |  |            | 18583.744  |  |           |  | 518.496   |  |  |  | 18065.248  |  |  |  | 1553.507   | 
|        |  |            |         |  |            |  |           |            |  | 
|TOTAL   |  |            | 88.42   |  |            |  | 1.49      |            |  |  | 32.43      |  |  |            | 0.000   |  |            |  | 16429.586 |           |  |  | 74196.727  |  |  |            | 144081.984 |  |           |  | 95663.266 |  |  |  | 48418.742  |  |  |  | 2592.649  | 



OIL


GASGROSS WELLS


0



75GROSS ULT., MB & MMF


612.793



85705.32GROSS CUM., MB & MMF


0



0GROSS RES., MB & MMF


612.793



85705.32NET RES., MB & MMF


338.889



40761.496NET REVENUE, M$


29964.613



60734.684INITIAL PRICE, $


88.42



1.49INITIAL N.I., PCT.


55.302



55.302


P.W. %


P.W., M$LIFE, YRS.


44.67



5



12762.461DISCOUNT %


10



10



2592.653UNDISCOUNTED PAYOUT, YRS.


9.69



15



10053.785DISCOUNTED PAYOUT, YRS.


44.67



20



13897.317UNDISCOUNTED NET/INVEST.


1.51



25



15883.988DISCOUNTED NET/INVEST.


0.96



30



16844.219RATE-OF-RETURN, PCT.


9.16



40



17222.701INITIAL W.I., PCT.


69.133



60



15863.91480



14063.96100



12466.102