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Dynamic Resources Corp. Announces Sentell Field Update -- Haynesville Shale Analysis Announced
(Marketwire Via Acquire Media NewsEdge) LAS VEGAS, NV, February 23 / MARKET WIRE/ --
Dynamic Resources Corp. (CNQ: DYR)
(PINKSHEETS: DYRFF) ("Dynamic" or the "Company") today announced the
operator of the Sentell Field project has released the preliminary results
of Core Laboratories' ("Core Lab") technical evaluation of the well data
and core samples provided for the Atkins-Lincoln 17-2 and Burt 20-1
Haynesville test wells.
The Company recently completed drilling operations on its two initial
Haynesville delineation wells, the Atkins-Lincoln 17-2 and the Burt 20-1.
As part of the evaluation program for these two wells, extensive core
sampling was performed on each well. Preliminary results of Core Lab's
technical analysis of the Atkins-Lincoln 17-2 and Burt 20-1 well data,
wireline logs and core samples indicate net thickness of the porous,
gas-bearing Haynesville Shale intervals to be 327 feet and 249 feet
respectively. The study further indicates that the Sentell Field's
Haynesville Shale potential ranges between 258 Bcf and 321 Bcf gas in place
per section. This compares favorably with other data evaluated by Core Lab
in proven productive areas of Southern Bossier Parish, south of the Sentell
Field, where gas in place estimates are approximately 165 Bcf per section.
Other key factors, including Total Organic Content, Kerogen Type and
Quality, Observed Pressure Gradients, and Clay Content of the Company's
core data, appear consistent with industry data across this sector of
Bossier Parish. There is still substantial laboratory and field testing
work to be completed, but these preliminary results, combined with
conservative recovery factors of less than 25%, indicate Sentell Field gas
in place exceeding 50 Bcf net to the Company's interest.
Analysis and completion design work continues in order to optimize results.
The operator is carefully following industry activity in the area and
working the laboratory results into completion plans for both of the
Company's initial Haynesville delineation wells. In the meantime, the
Company is currently erecting a new drilling rig in preparation for
spudding its third Haynesville Shale delineation well, the Boyce Pate 16-1.
The Company owns a 20% working interest in approximately 5,300 acres in the
Sentell Field, located in the heart of the known Cotton Valley trend north
of Shreveport, Louisiana. To date, the Company has drilled nine successful
tests of the Cotton Valley sands, five of which are connected to the market
and producing revenues, with 2 more expected to produce revenue in the
first quarter of 2009. Completion options are currently being evaluated for
the remaining 2 wells, which both successfully tested the Haynesville Shale
formation.
Information Regarding Forward-Looking Statements:
This news release contains "forward-looking statements," as that term is
defined in Section 27A of the United States Securities Act of 1933, as
amended, and Section 21E of the United States Securities Exchange Act of
1934, as amended. Statements in this press release which are not purely
historical are forward-looking statements and include any statements
regarding beliefs, plans, expectations or intentions regarding the future.
Actual results could differ from those projected in any forward-looking
statements due to numerous factors. Such factors include, among others: (i)
the inherent uncertainties and speculative nature associated with oil and
gas exploration; (ii) any number of events or causes which delay or cease
exploration and development of Dynamic's property interests such as
environmental liabilities, weather, mechanical failures, safety concerns,
labour problems and financing problems; (iii) changes in economic
conditions, adverse exchange rates and financial markets; (iv) the risk
that Dynamic does not execute its business plan; (v) the inability to
retain key employees; (vi) changes in the prices of oil and gas; (vii)
Dynamic's inability to finance its operations or growth; and (viii) the
inability to obtain all necessary government, environmental and regulatory
approvals. These forward-looking statements are made as of the date of this
news release and Dynamic assumes no obligation to update the
forward-looking statements, or to update the reasons why actual results
could differ from those projected in the forward-looking statements.
Although Dynamic believes that the beliefs, plans, expectations and
intentions contained in this press release are reasonable, there can be no
assurance those beliefs, plans, expectations, or intentions will prove to
be accurate. Investors should consider all of the information set forth
herein and should also refer to the risk factors disclosed in Dynamic's
periodic reports filed from time-to-time at www.sedar.com
For further information, please contact:
Robert Fedun
President and CEO
702 743-1343
Website: www.dynamicresourcescorp.com
Copyright ? 2009 Marketwire
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