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Dynamic Resources operator to drill Sentell in August
2008-07-03 13:51 ET - News Release
Mr. Robert Fedun reports
DYNAMIC RESOURCES CORP.: SENTELL FIELD UPDATE
Dynamic Resources Corp. has been informed by the operator of its Sentell field project that a 10-well drilling program will commence in August that will start by drilling two Cotton Valley wells.
The first vertical Haynesville shale test well will then be drilled. A technical evaluation is planned once the drilling of the Haynesville well is completed.
The partners in this play plan to convert the proved undeveloped Cotton Valley acreage into cash flow by continuing with the 2008/2009 drilling program.
The vertical Haynesville shale test well will be drilled to a depth of approximately 12,500 feet. Numerous companies, such as Chesapeake Energy Corp.,
EnCana Corporation and Petrohawk Energy Ltd., continue to report successful drilling of Haynesville shale wells in the area with flow rates ranging from five million cubic feet per day to 15 million cubic feet per day with flowing casing pressures of up to 5,000 pounds per square inch.
We seek Safe Harbor. |
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Dynamic to finish drilling fifth Sentell well next week
2008-06-04 11:55 ET - News Release
Mr. Robert Fedun reports
Four of the five wells drilled to the Cotton Valley formation in Dynamic Resources Corp.'s Sentell field in Bossier Parish, Louisiana, are currently flowing to sales. Final completion and hook-up activities are in progress on the fifth well and are expected to be finished within the next week. Dynamic owns a 20-per-cent interest in each of these wells.
Dynamic also announced that it has formed an advisory board, on which it will ask qualified and experienced individual to sit, for the purpose of providing the company with operational and strategic advice as both its corporate strategy and development program progress. Dynamic is pleased that James Robby Robson and Timothy Jurek have agreed to join the advisory board as its initial members.
Mr. Robson, of McKinney, Tex., was the founder of Pontotoc Production Company, a privately owned oil and gas company which completed a merger in 1997 to form Pontotoc Production Inc., a Nasdaq Stock Market-listed oil and gas company. That company was subsequently sold in 2001. Mr. Robson was the president and chief executive officer of the public company.
Mr. Jurek, of Tulsa, Okla., has an engineering degree from the United States Military Academy at West Point and 30 years experience in the natural gas industry, with particular emphasis on start-ups, acquisitions and operations. In 1981, he formed Western States Gas Company, the first of nine natural gas gathering, marketing and production companies which Mr. Juric founded and operated between 1981 and present. Mr. Juric has served as a director and officer of a number of gas gathering and production companies, and is currently president of Pontotoc Gathering.
Dynamic has granted a total of 750,000 options to Mr. Robson and Mr. Jurek, exercisable at 12 cents for a period of five years.
We seek Safe Harbor. |
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Dynamic Resources grants options to buy shares
2008-05-23 15:46 ET - Options Proposed
Mr. Robert Fedun reports
STOCK OPTION GRANT
Further to Dynamic Resources Corp.'s April 11, 2008, news release in Stockwatch, one million options to two new consultants of the corporation have now been issued. Each option entitles the holder to acquire one common share of the corporation for a period of five years expiring May 23, 2013, at a price of 10 cents per share.
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Dynamic Resources closes $2.12-million financing
2008-05-21 13:19 ET - News Release
Mr. Robert Fedun reports
PRIVATE PLACEMENT CLOSES
Dynamic Resources Corp.'s Cotton Valley, Sentell field-development program in the Bossier parish of Louisiana is believed to be in the Haynesville shale area of Louisiana mentioned in the JP Morgan, "North America Equity Research," dated March 13, 2008,
Dynamic Resources's chief executive officer, Robert Fedun, said: "This is around us. We are definitely in a good area. I believe the Haynesville shale is a great find and Cotton Valley, Sentell field-development program in Bossier parish, Louisiana, could potentially have a greater impact on the company than any other sites in which Dynamic is participating to date."
It has also closed its current private placement. Further to the company's Feb. 6, 2008, news in Stockwatch, the company has raised a total of $2,127,100 in proceeds from the sale of 42,542,000 common share units. Each unit consists of one share and one warrant exercisable for two years from closing at 10 cents per share. Shares issued pursuant to this private placement are subject to trading restrictions to Sept. 16, 2008.
A total of $147,210 plus 2,904,200 broker warrants, exercisable on the same terms as the warrants forming part of the units, were paid in commissions.
Net proceeds will be used for additional development work on the company's Louisiana project and for working capital.
We seek Safe Harbor.
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Dynamic Resources Corp.
Symbol DYRF
Shares Issued 72,533,149
Closed 2008 - 05-09 C$ 0.09
Recent Sedar Documents
Dynamic Resources begins production at Rendall 7-2 well
2008-05-12 14:40 ET - News Release
Mr. Robert Fedun reports
COTTON VALLEY PROJECT UPDATE
Dynamic Resources Corp. has learned that an update from the operator of these 20-per-cent-owned wells was recently released.
Rendall 7-2
The company is pleased to announce excellent initial production from its recently completed Rendall 7-2 well. The well was completed and fracture stimulated, in multiple Cotton Valley Davis Sand intervals, a gas-bearing section (over 800 feet gross) between 8,449 feet and 9,252 feet. Following successful treatment and flowback testing, the well was placed into the sales line on April 25, 2008. Currently, the well is flowing at a rate of 1,440 thousand cubic feet per day at 1,325 psi (pounds per square inch) FTP. The company expects the well to continue to strengthen after additional cleanup. This marks the fourth consecutive successful completion in the Cotton Valley in this program.
Atkins -- Lincoln 17-1
Two stages of very-large-volume, high-rate, slick-water fracture treatments were recently successfully completed on this fifth successful well, in multiple Cotton Valley Davis Sand intervals. Over 800 feet of gross, gas-bearing section, between 8,512 feet and 9,315 feet, were fracture stimulated. The well was stimulated in two stages with over 250,000 pounds of proppant and 16,000 barrels of water per stage, at rates as high as 76 barrels per minute. The stages were pumped on April 21 and April 28, 2008. The well is currently flowing back stimulation fluids at a rate of 100 to 150 barrels per hour. Flowlines and equipment have been installed such that the well can be placed into sales as soon as flowback testing is complete. The company anticipate first sales within the next 7 to 10 days.
Completion activities in three other wells in this field, the Atkins Lincoln 18-2, the Atkins Lincoln 18-1 and the Atkins Lincoln 8-1, have been continuing, and the company expects to have five wells flowing into the sales line in the next 30 days.
We seek Safe Harbor.
| Symbol |
DYRF |
| Shares Issued |
98,749,989 |
Closed 2008-03-31 |
C$0.075 |
Dynamic Resources Spuds Fifth Well In Louisiana
2008-04-01 14:04 ET - News Release
Mr. Robert Fedun reports
Dynamic Resources Corp. has drilled its fifth successful Cotton Valley test in its Sentell field development program in the Bossier parish of Louisiana. The latest well, the Atkins-Lincoln 17-1, reached its planned total depth of 9,500 feet on March 30, 2008.
According to the operator, open-hole logging and formation-testing information indicates approximately 75 to 90 feet of net effective gas pay in the Cotton Valley interval. The well is currently being prepared to run 5.5-inch production casing to total depth.
With this successful test, Dynamic continues its string of 100-per-cent success rate in the Cotton Valley. It has completed three wells which are producing to market and anticipates completing the fourth well during the month of April.
Completion operations are expected to commence expeditiously upon release of the drilling rig and scheduling of a completion rig and stimulation services. First production from the Atkins-Lincoln 17-1 well is expected by early May. Dynamic owns a 20-per-cent interest in each of these wells.
We seek Safe Harbor. |
Dynamic Resources hires Integrated Capital for IR
2008-3-3 16:13 ET - News Release
Mr. Robert Fedun reports
DYNAMIC RESOURCES TO BEGIN AN EXTENSIVE NORTH AMERICAN AND EUROPEAN INVESTOR RELATIONS CAMPAIGN
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Dynamic Resources Corp. will begin an extensive worldwide investor relations campaign. Last week Dynamic entered into an agreement with U.S.-based Integrated Capital Partners, from the New York area, to assist Dynamic in this program.
Dynamic will begin this worldwide awareness campaign in the coming weeks. The extensive campaign will include, but not be limited to, one-on-one and group presentations, print media, and live and taped interviews. Company representatives are expected to travel through several cities in North America and Europe to meet face to face with a broad range of investors. Additionally, the appropriate investment conferences will be targeted for attendance. The tour will continue all year long and serve the purpose of introducing Dynamic to the investment community, as well as to potentially expand on the business relationships already forged in the energy sector.
Dynamic currently has a 20-per-cent interest in three producing gas wells in North Louisiana in the United States and has been advised by the operator of this play that it has an aggressive drilling program over the next year to capitalize on the success to date of bringing new producing wells on to production. The timing of this investor relations program was facilitated by the current business operations and the fundamental growth expected during 2008 into and through 2009.
Robert Fedun, chief executive officer of Dynamic Resources, stated: "Our decision to begin this program demonstrates our commitment to facilitate global access to our securities and improve market liquidity. I have never been more excited about the current fundamental position of our company and the future prospects for growth."
We seek Safe Harbor.
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Louisiana project update
2008-1-18 - News Release
Mr. Robert Fedun reports
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Las Vegas, Nevada - Dynamic Resources Corp. (the "Company" or "Dynamic") Dynamic wishes to update the current status of its current exploration/development project in the Sentell Field in Bossier Parish, Louisiana. The operator of the project, Southern Star Energy Inc. has issued a press release dated January 15, 2008 with the following information.
"Southern Star Energy is pleased to announce the completion of its latest well, the Atkins-Lincoln 18-2 well in Sentell Field, Bossier Parish Louisiana. The well was drilled to a depth of 9,950' in October, 2007. The well has been completed in the Upper Davis section of the Cotto Valley Formation with perforations at 8,478' - 8,492'. The zone was fracture stimulated using conventional "slick water" fracturing technique with 71,770 pounds of proppant on December 20, 2007. After flowback, production tubing was installed. Production equipment tie-ins and a 2,600' flowline installation were recently completed and the well was placed on production at 2:00 pm on January 10, 2008. The well is currently flowing at 703 mcfd at 900 psig flowing tubing pressure."
Dynamic and its partners currently have approximately 5300 acres under lease within the prospect area, which is defined by a string of ten old wells drilled in the 1950s, one well per 640 acre spacing. The working interest partners in this prospect area are as follows: Southern Star Energy Inc - 40 per cent, Ramshorn Investments Inc. - 40 per cent and Dynamic - 20 per cent.
For further information, please contact:
Robert Fedun, President and Director
Direct: 702-743-1343
Fax: 702-869-9832
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
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Dynamic Resources Atkins-Lincoln well produces 500 mcfd
2007-11-13 14:35 ET - News Release
Mr. Robert Fedun reports
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Dynamic Resources Corp. has received the following update from the operator of the 20-per-cent-owned well.
Atkins-Lincoln 18-1, drilled and completed Jan. 16, 2007, to depth of 9,950 feet, with first production on July 11, 2007, and first sales on Sept. 5, 2007, currently, is only producing from the bottom 14 per cent (50 feet) of total Cotton Valley pay interval. Early production of over 500 thousand cubic feet per day has been encouraging and this has led the company to optimizing the engineering design for the completion for the remainder (900 feet gross) of the Cotton Valley pay interval. Petrophysical, geologic and engineering information indicates that the quality of the upper Cotton Valley pay is materially better than the lower interval now producing. The company has commenced completion operations on this well to complete the entire Cotton Valley pay section to commingle all available gas production into sales by end of November, 2007.
All of the estimated recoverable oil and gas reserves in different zones are confirmed by mudlog, wireline logs evaluations and, in some cases, with side wall cores and formation tester pressure measurement. A total of 85 feet of estimated gas pay is distributed over a gross (total) interval of 900 feet in the Cotton Valley section. Three shallower zones demonstrating primarily oil potential will continue to be evaluated in subsequent wells. Results of those evaluations will determine the feasibility of additional future developments targeting the oil potential. The zones indicating oil potential are regionally known and have been economically developed within a 10-mile radius of this well.
We seek Safe Harbor.
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Dynamic Resources arranges $800,000 private placement
2007-10-23 15:53 ET - News Release
Mr. Robert Fedun reports
PRIVATE PLACEMENT ANNOUNCED
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Dynamic Resources Corp. is undertaking a new private placement of up to $800,000 by the issue of up to eight million units at 10 cents per unit. Each unit consists of one common share and one warrant which entitles the holder to acquire one additional common share for 16 cents for a period of two years from closing.
Proceeds will be used for additional development work on the company's Louisiana project and for working capital.
We seek Safe Harbor.
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Dynamic Resources spuds fourth well in Louisiana
2007-9-20 10:48 ET - News Release
Mr. Robert Fedun reports
DYNAMIC RESOURCES CORP. ANNOUNCES LOUISIANA PROJECT UPDATE
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Dynamic Resources Corp. is releasing an update on the current status of its exploration/development project in the Sentell field in the Bossier parish of Louisiana.
A fourth well, Atkins 18-2, was spudded on Sept. 11, 2007. The projected depth of this well is 9,950 feet and is currently drilling at a depth of approximately 5,500 feet. It is projected that total depth will be reached in approximately one week. This well is in close proximity to wells 18-1 and 8-1.
The company's completion of well 8-1 will commence next week. This well will be perforated and stage-fraced at different intervals, giving the operator a much more precise evaluation of the different pay zones.
Dynamic and its partners currently have approximately 5,300 acres under lease within the prospect area, which is defined by a string of 10 old wells drilled in the 1950s, one well per 640-acre spacing. Dynamic has a 20-per-cent working interest in this prospect area.
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| Dynamic
Resources drills, cases two Sentell wells
2007-03-14 16:12 ET - News Release
Mr. Robert Fedun reports
DRILLING UPDATE
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Dynamic Resources Corp. is releasing an update on the current
status of its exploration/development project in the Sentell field
in the Bossier parish of Louisiana .
The two exploration wells, Atkins Lincoln 18-1 and the R.C. Atkins
et al. 8 No. 1, have been drilled to total depth of 9,950 feet,
and production casing has been run in both.
The operator, Southern Star Energy, is currently acquiring the
necessary permitting and rights-of-way in order that flow lines
can be placed from the two wells and connected to the main sales
transmission line approximately one mile away. Once the flow lines
and necessary production facilities are in place, the two wells
will be completed and put on production.
Currently, the two new wells and the existing old wells on the
acreage (5,300 acres are leased) are being evaluated in order
that a proper development drilling program can commence immediately.
These wells will be drilled to varying depths.
Dynamic and its partners currently have approximately 5,300 acres
under lease within the prospect area, which is defined by a string
of 10 old wells drilled in the 1950s, one well per 640-acre spacing.
The working interest partners in this prospect area are as follows:
Southern Star Energy -- 40 per cent; Ramshorn Investments Inc.
-- 40 per cent; and Dynamic -- 20 per cent.
We seek Safe Harbor .
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Drilling
and private placement update
CNQ Symbol "DYRF"
Pinksheet Symbol "DYRFF"
February 2, 2007
Las Vegas, Nevada - Dynamic Resources Corp. (the "Company"
or "Dynamic") Dynamic wishes to update the current status
of its Atkins-Lincoln 18-1 well in Bosser Parish, Louisiana. After
successful testing, completion operations will commence on or
around February 7, 2007. A second evaluation well is planned to
be spudded at the same time and will be located about one mile
from the Atkins Lincoln 18-1 well.
Dynamic and its partners currently have approximately 5300 acres
under lease within the prospect area, which is defined by a string
of ten old wells drilled in the 1950s, one well per 640 acre spacing.
The working interest partners in this prospect area are as follows:
Southern Star Energy Inc - 40 per cent, Ramshorn Investments Inc.
- 40 per cent and Dynamic - 20 per cent.
The brokered private placement announced on October 1, 2006 has
been over-subscribed. The Company plans to issue units totaling
US$1,200,000. Each unit will be sold for US$0.08 and consists
of one common share and one share purchase warrant. Each warrant
entitles the holder to subscribe for one common share at US$0.16
for a period of two years from closing. Proceeds will be used
for further exploration and development of the Company's properties
in Cotton Valley, Louisiana, Palo Duro and La Salle County in
Texas, plus general working capital.
For further information, please contact:
Robert Fedun, President and Director
Direct: 702-743-1343
Fax: 702-869-9832
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
Forward Looking Statements: Certain information
regarding the Company contained herein may constitute forward
looking statements. Forward looking statements may include estimates,
plans, expectations, opinions, forecasts, projections, guidance
or other statements that are not statements of fact. Although
the Company believes that the expectations reflected in such forward
looking statements are reasonable, it can give no assurance that
such expectations will prove to have been correct. These statements
are subject to certain risks and uncertainties and may be based
on assumptions that could cause actual results to differ materially
from those anticipated or implied in the forward looking statements.
The Company is under no obligation to update or alter any forward
looking statement. These risks include operational and geological
risks, the ability of the Company to raise necessary funds for
exploration and the fact that the Company does not operate its
properties. The Company's forward looking statements are expressly
qualified in their entirety by this cautionary statement. The
Company also disclaims any obligation to update, alter or otherwise
revise any forward-looking statement, whether written or oral,
that may be made from time to time, whether as a result of new
information, future events or otherwise.
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| Dynamic
Resources drills Atkins-Lincoln to 9,950 ft
2007-01-17 11:44 ET - News Release
Mr. Robert Fedun reports
DRILLING UPDATE
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Dynamic Resources Corp. is releasing an update on the current
status of the Atkins-Lincoln 18-1 well that was previously reported
in Stockwatch news Nov. 29, 2006.
Southern Star Energy, the operator of the well, has informed
Dynamic that this first evaluation well of this program in Bosser
Parish, La. , has been successfully drilled to a total depth of
9,950 feet and production casing has been run.
At this time, it is projected to be a highly economic well based
on 160 drainable acres. All of the estimated recoverable oil and
gas reserves in the four different zones are confirmed by mud
log and wireline logs and in some cases with sidewall cores and
formation tester pressure measurements.
An additional evaluation well is planned to be drilled immediately
to a depth of more than 9,950 feet and will be located about one
mile from the Atkins Lincoln 18-1 well.
Dynamic and its partners currently have approximately 5,300 acres
under lease within the prospect area, which is defined by a string
of 10 old wells drilled in the 1950s, one well per 640-acre spacing.
Most of the old wells were abandoned prior to 1972 after producing
from one thin, but prolific, Cotton Valley sand zone. There have
been no other zones produced within the prospect area although
new technologies applied to the old wells indicate numerous economic
oil/gas-bearing targets. This new well appears to have validated
this interpretation. None of the zones with reserve potential
identified in Atkins-Lincoln 18-1 have been produced.
Preliminary plans, based upon continued successful evaluation
drilling, are to develop the based acreage with at least one well
per 160 acres, potentially leading to more than a 30-well development
drilling program. Fields in this area are being economically developed
with at least one well per 80 acres.
Initial production rates for the development wells are expected
to be in excess of three million cubic feet of gas per day per
well.
We seek Safe Harbor.
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Joint
venture agreement signed
CNQ Symbol "DYRF" - October 16, 2006
Las Vegas, Nevada - Dynamic Resources Corp. (the "Company"
or "Dynamic") announced that further to its news release
of October 4, 2006, the Company confirms that the previously announced
joint venture agreement in respect to the Cotton Valley Play in
Louisiana has now been signed with a joint venture partner, Big
Sky Management Ltd. ("Big Sky"), of Vancouver, British
Columbia. Big Sky has previously been actively involved in raising
capital for numerous oil/gas ventures in the US.
The terms of the joint venture agreement are that Big Sky will
pay 100% of the participation cost of Dynamic's 40% interest in
the first two wells in order to earn 50% of Dynamic's 40% interest
in all the land currently under lease by Dynamic in the Cotton
Valley play.
The first well is scheduled to be spudded by November 8, 2006
with the second well to be drilled immediately after the first
well is completed. Each well has a potential of 4 to 5 zones with
reserves of up to 10BCF per well. Total depth per well will be
approximately 10, 000 feet, with total drilling time of two to
three weeks per well.
An evaluation will be done after drilling the first two wells.
Should the wells be successfully completed then a more aggressive
drilling program will be commenced, based on drilling rig availability.
For further information, please contact:
Robert Fedun, President and Director
Direct: 702-743-1343
Fax: 702-254-5594
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
Forward Looking Statements:
Certain information regarding the Company contained herein may
constitute forward looking statements. Forward looking statements
may include estimates, plans, expectations, opinions, forecasts,
projections, guidance
or other statements that are not statements of fact. Although
the Company believes that the expectations reflected in such forward
looking statements are reasonable, it can give no assurance that
such expectations will prove to have
been correct. These statements are subject to certain risks and
uncertainties and may be based on assumptions that could cause
actual results to differ materially from those anticipated or
implied in the forward looking statements.
The Company is under no obligation to update or alter any forward
looking statement. These risks include operational and geological
risks, the ability of the Company to raise necessary funds for
exploration and the fact that the Company does not operate its
properties. The Company's forward looking statements are expressly
qualified in their entirety by this cautionary statement. The
Company also disclaims any obligation to update, alter or otherwise
revise any forward-looking statement, whether written or oral,
that may be made from time to time, whether as a result of new
information, future events or otherwise.
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| Dynamic
Resources arranges $800,000 ( U.S. ) financing
2006-10-03 16:42 ET - News Release
Mr. Robert Fedun reports
PRIVATE PLACEMENT ANNOUNCED
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Dynamic Resources Corp. has issued 1,595,000 units for gross
proceeds of $239,250 pursuant to its previously announced arm's-length
non-brokered private placement at 15 cents per unit.
Each unit consists of one common share and one-half of a warrant
exercisable for two years at 20 cents per share. Shares issued
pursuant to the first closing will be subject to a hold period
expiring Nov. 25, 2006, and shares issued pursuant to the second
closing will be subject to a hold period expiring Jan. 15, 2007.
Proceeds from that private placement will be used to acquire
additional oil and gas properties in the Cotton Valley of Louisiana
and for general working capital.
The company has also agreed to issue, pursuant to a private placement
to be brokered by Source Capital Corp. of Scottsdale, Ariz., a
minimum of 3.75 million units ($300,000 (U.S.)) and a maximum
of 10 million units ($800,000 (U.S.)). Each unit will be sold
for eight U.S. cents and will consist of one common share and
one share purchase warrant. Each warrant entitles the holder to
subscribe for one common share at 16 U.S. cents for a period of
two years from closing. Proceeds will be used for further exploration
and development of the company's properties in Cotton Valley ,
La. , Palo Duro and La Salle county in Texas , plus general working
capital.
We seek Safe Harbor.
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Dynamic
Resources to JV on two Cotton Valley wells
2006-10-04 13:47 ET - News Release
Mr. Robert Fedun reports
JOINT VENTURE ANNOUNCED
Dynamic Resources Corp. is in the process of finalizing a joint
venture agreement in respect to its 40-per-cent working interest
in its Cotton Valley play in Louisiana .
The joint venture partner has agreed to pay 100 per cent of the
drilling and associated costs associated with Dynamic's 40-per-cent
working interest in the first two wells to be drilled in order
to earn a 50-per-cent interest in those wells and the balance
of the play.
It is anticipated that the first of two wells will commence drilling
by Nov. 15, 2006.
We seek Safe Harbor .
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| Oil
and Gas Updated
CNQ Symbol "DYRF" - June 12, 2006
Las Vegas, Nevada - Dynamic Resources Corp. (the
"Corporation") wishes to provide an update on the three
oil and gas projects that the company is currently involved in:
Cooke Ranch Prospect, La Salle County, Texas
Bayshore Exploration L.L.C. has completed a 3-D Seismic Survey
over the Cooke Ranch acreage. As a result of the Seismic Survey,
two new drilling locations are being surveyed and staked, the
Cooke No. 4 and Cooke No. 5 Wells. A drilling rig is scheduled
to move in and drill both locations in approximately two weeks.
The initial well, Cooke No. 3 Well, is still flowing 120 BOPD
(gross) and producing approximately 150,000CF/D (gross). This
is after 6 months of continuous production.
The second well is still being production tested and may be re-fraced
to further stimulate the flow rate.
Dynamic holds a 3% W.I. in approximately 8800 acres.
Palo Duro Geochem
Royalty Exploration ("REX") has completed the first
phase of interpretation of the data acquired over the Dynamic
Palo Duro acreage in Floyd County, US. REX placed over 250 samples
over the approximately 4,500 leased acres and used four recently
drilled wells in the area for signature models. The geochemical
data evaluates approximately 250 different hydrocarbon compounds
at part per billion levels. This geochemical technique has proven
to be 90% effective in predicting hydrocarbon presence based on
over 100 drilled wells worldwide in the last five years. Preliminary
indications for the survey over the Dynamic acreage indicates
a strong chemical signature for both oil and gas character. Based
on the geochemical signature of previously drilled wells in the
area, which were used for geochemical modeling, the Dynamic acreage
exhibit the same enhanced gas character along with areas that
appear to be prospective for oil. The geochemical data is being
further evaluated and integrated with the regional geology to
select potential drilling targets.
Dynamic holds a 100% W.I. in approximately 4,500 acres.
Cotton Valley Prospect, North Louisiana
This opportunity is within an old field covering eight to eleven
sections, generally one well per section. All wells were abandoned
in the 1960s or early 1970s except for two wells that were recently
shut-in or producing marginally economic. The two existing wells
hold (or did hold) 640 acres each. The wells have all produced
only from one deep 8,300 foot zone. No other known producing intervals
have been produced within the area of interest. Over the last
30 years, shallower production in the area, but not within the
field limits, has been established in not less than seven shallower
zones.
In the last few years, a couple of large independents and even
at least one major have been active and successful in a deeper
play within 20 to 30 miles away that could extend into this area
of interest.
There are several unproduced log shows in abandoned and existing
producing wells that are analogous to more recent area production.
Selective infill and step out locations are identified to additionally
develop the mostly depleted producing interval, which is about
30 feet thick and has drained about 200 acres to 450 acres per
well.
The deeper possible play, which has not been drilled in this
area of interest, when successful in nearby fields appears to
be producing 5 Bcf to 10 Bcf per completion. The produced zone
in the prospect area has cumulative gas generally between 2 Bcf
to 11 Bcf per completion, averaging around 4.5 Bcf per well. 45.2
Bcf has been produced from one sand from ten wells. It is possible
that infill or step out locations could produce 1 Bcf to 2 Bcf
per completion from the mostly depleted and only produced sand
in the field. However, it is considered a secondary target.
The shallower zones, from 1,000 feet to 7,800 feet, when successful
in areas 20 to 30 miles away, are producing 0.1 Bcf to 2.3 Bcf
per completion. The Pettit-Rodessa from 4,300 feet to 5,000 feet,
Hosston and the many unproduced Cotton Valley sands below 8,300
feet are primary targets. Total remaining reserve potential is
estimated to be 146 Bcf from a total of 40 to 80 wells, developed
one well per 80 acres. Dynamic currently holds a 50% W.I. in approximately
4,500 acres. Additional acreage is still being acquired.
For further information, please contact:
Robert Fedun, President and Director
Direct: 702-743-1343
Fax: 702-869-9832
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
Forward Looking Statements:
Statements made in this news release that relate to future plans,
expectations, events or performances are forwardlooking statements.
Such statements involve risks and uncertainties and are based
on current expectations. Consequently, actual results could differ
materially from the expectations expressed in these forward-looking
statements.
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| Dynamic
Resources signs JV with Tyner in Bossier
2006-04-26 14:27 ET - News Release
Mr. Robert Fedun reports
SENTELL FIELD ACQUISITION
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Dynamic Resources Corp. has entered into a 50/50 joint venture
acquisition agreement with Tyner Resources Ltd. through its wholly
owned subsidiary, Tyner Texas Operating Company, to acquire an
acreage position in a producing field in northeast Louisiana.
The opportunity is within Bossier county, Louisiana, covering
four to 10 sections, in a field where two wells currently produce
from a single 8,300-foot zone. Of particular interest is the shallower
production in the area, which has been established in not less
than seven zones, but has never been evaluated within the target
acreage. Of further interest is the potential of the Smackover
sands which have been active and successful within 10 to 20 miles
of the acreage and potentially could extend into the joint venture's
area of interest. The deeper unproduced Cotton Valley sands below
8,300 feet and the Hosston sands from 4,300 feet to 5,000 feet
are also primary targets. Based on an independent assessment of
existing production and well logs the total remaining reserve
potential may be approximately 150 billion cubic feet from a total
of 40 to 80 wells, at one well per 80 acres.
Dynamic and Tyner Texas have paid an upfront prospect fee for
costs incurred to date of $50,000 (U.S.) and will pay a $20 (U.S.)
per acre fee to Sierra Pine Resources International (SPRI) for
all leasehold, mineral interests or contractual rights acquired
by SPRI within the prospect area. To date, approximately 2,500
acres of a prospective 6,000 acres have been leased or farmed
in, with bonus payments on the leases of an average of $175 per
acre for a three-year term. On the farm-in acreage, the joint
venture has an obligation to drill a well within the first year
to earn the acreage. The joint venture is currently assessing
drilling rig availability for a September, 2006, spud date. If
either Tyner Texas or Dynamic as parties to the joint venture,
default on any payment, the non-defaulting party will assume the
defaulting parties 50-per-cent interest in the prospect for the
payment of half of that parties cost outlay.
The corporation also wishes to announce that it has been advised
by the operator that it is currently production testing the Cartwright
No. 1 well, which offsets the Cook No. 3 flowing oil/gas well
in La Salle county in Texas. Further results will be released
when they are received.
The corporation recently issued options to a consultant that
will entitle him to subscribe for 300,000 common shares a price
of 16 cents per share until April 17, 2011.
We seek Safe Harbor.
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Private
Placement Closes
CNQ Symbol "DYRF" - March 22, 2006
Las Vegas, Nevada - Dynamic Resources Corp. (the "Corporation")
wishes to announce that it has closed its previously announced
non-brokered private placement of 3,043,967 units at $0.15 cents
per unit for total proceeds of $456,595, has been completed. Each
Unit consists of one common share and one common share purchase
warrant. Each warrant entitles the holder to purchase one common
share for $0.20 per share for a period of two years from closing.
Finders fees of $40,384.50 were paid to brokers who assisted the
Company in raising funds. In addition, 304,397 finder's warrants
were issued, each entitling the holder to subscribe for a Unit
for $0.15 for a 2 year period from closing.
Proceeds will be used for the acquisition of additional acreage
in the Cotton Valley, North Louisiana gas play where multiple
zones will be evaluated, and also for general working capital.
For further information, please contact:
Robert Fedun,
President and Director
Direct: 702-743-1343
Fax: 702-869-9832
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
Forward Looking Statements:
Statements made in this news release that relate to future plans,
expectations, events or performances are forward-looking statements.
Such statements involve risks and uncertainties and are based
on current expectations. Consequently, actual results could differ
materially from the expectations expressed in these forward-looking
statements
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Dynamic
Resources buys 2,221 acres in Palo Duro basin
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2006-02-24 11:07 ET
News Release
Mr. Robert Fedun reports
DYNAMIC RESOURCES CORP.: ADDITIONAL EXPLORATION LANDS ACQUIRED
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Dynamic Resources Corp. has acquired an additional 2,221 net
acres in the Palo Duro basin in Floyd and Motley counties, Texas.
Total acquisition costs were $277,680 (U.S.) and the issuance
of 2.5 million shares, subject to regulatory approval.
The company now has a 100-per-cent working interest and a 75-per-cent
net revenue interest in 4,500 acres in the Palo Duro basin as
well as a 3-per-cent working interest in an additional 8,840 acres
located in and around Cook county, Texas.
Dynamic intends to explore oil and gas targets in the Pennsylvanian
age shale sections which are similar to the Barnet shales. To
identify drilling targets, Dynamic has partnered with Royalty
Exploration from Houston, Tex., in this project to begin immediate
geochemical evaluation of this area. Royalty Exploration has extensive
experience in geochemical evaluation and will provide a critical
layer of analytical data, mapping the probability of hydrocarbon
accumulations located within the trend. Geochemical evaluation
is scheduled to be completed by the end of April. This information
combined with the data already gathered from previously drilled
wells will help reduce risk and improve success rates for Dynamic
by bringing greater definition to underground conditions.
We seek Safe Harbor.
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Dynamic
Resources to raise $400,000; drills Texas well
2006-02-14 15:53 ET
News Release
Mr. Robert Fedun reports
DRILLING UPDATE AND PRIVATE PLACEMENT ANNOUNCED
Dynamic Resources Corp.'s Cartwright No. 1 well in La Salle county,
Texas, has reached total depth of 6,950 feet. This well offsets
its previous well, Cooke No. 3, by approximately 1,000 feet.
Schlumberger log analysis indicates an Escondido pay zone between
6,630 to 6,696 feet (66 feet net pay). Based on the log analysis,
this well appears to be a duplicate to the Cooke No. 3 well, which
is currently producing 160 barrels of 47.1-degree API oil and
250,000 cubic feet of gas from the Escondido formation.
A 4.5-inch production casing is now being run in the well. Once
the service rig arrives on site, the operator, Bayshore Exploration
LLC, advises that the well will be completed and put on production
using the existing facilities. Bayshore has informed Dynamic Resources
that the drilling of three additional wells will commence in April,
2006. The corporation's working interest is 3 per cent in approximately
8,840 acres.
The corporation is also undertaking a non-brokered private placement
of $400,000. The private placement will consist of 2,666,667 units
at 15 cents, with each unit comprising one share and one two-year
warrant exercisable at 20 cents. Proceeds will be used to complete
the acquisition of additional acreage in the Palo Duro basin in
Texas and for general working capital.
We seek Safe Harbor.
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Dynamic
Resources spuds Cartwright No. 1; drills on
2006-02-08 10:55 ET
News Release
Mr. Robert Fedun reports
DRILLING UPDATE
Dynamic Resources Corp.'s Cartwright No. 1 well in La Salle county,
Texas, was spudded on Feb. 1, 2006. The well is currently at a
depth of 4,700 feet and drilling ahead. This well offsets the
previous well, Cooke No. 3, by approximately 1,000 feet.
The operator, Bayshore Exploration LLC, expects to reach total
depth of 6,800 feet by this weekend. Two different zones will
be looked at, the first being the Wilcox and the second being
the Escondito.
The initial well is currently producing 160 barrels of 47.1-degree
API (American Petroleum Institute) quality oil and 250,000 cubic
feet of gas from the Escondito formation.
The corporation's working interest is 3 per cent in approximately
8,840 acres. The operator is still looking at a 10-well development
drilling program for the year 2006.
We seek Safe Harbor.
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Dynamic
to raise $750,000 for Texas gas play
2005-11-10 15:14 ET - News Release
Mr. Robert Fedun reports
Dynamic Resources Corp. has arranged a non-brokered private placement
of up to five million units at 15 cents per unit for total proceeds
of $750,000.
Each unit will consist of one common share and one common share
purchase warrant exercisable at 20 cents per share for a period
of two years from closing.
Part of the proceeds of this private placement will be used to
acquire land in an emerging natural gas play in the Palo Duro
basin in West Texas, where in the past several months numerous
wells have been drilled, and also for general working capital.
Upon acquisition of these properties, it is the intent of the
company to drill the properties in the early part of 2006, based
on the availability of a drilling rig.
We seek Safe Harbor.
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Dynamic
Resources raises $832,500 privately
2005-11-28 13:26 ET - News Release
Mr. Robert Fedun reports
Dynamic Resources Corp.'s previously announced non-brokered private
placement of five million units, at 15 cents, for total proceeds
of $832,500, has been completed. Each unit consists of one common
share and one common share purchase warrant. Each warrant entitles
the holder to purchase one common share, for 20 cents per share,
for a period of two years from closing. Finders' fees of $83,000
were paid to brokers in Canada and the United States, who assisted
the company in raising funds.
The company also wishes to confirm that a total of 1,600 acres
of prime leases have been acquired in the Palo Duro basin in Western
Texas. The company is acquiring additional properties in this
area which are currently under review.
The land acquired is approximately 1.5 miles from the recently
drilled Miller No. 1 well, the results of which have not yet been
publicly announced.
We seek Safe Harbor.
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Dynamic
well produces 180 bpd oil and 250 cft gas
2005-11-29 16:00 ET - News Release
Mr. Robert Fedun reports
Dynamic Resources Corp.'s well, drilled in Lasalle county, West
Texas, has now been successfully completed and tested in the Escondito
Formation. In the past week, the well had a sustained flow rate
of 180 barrels of oil per day and 250,000 cubic feet of gas, and
has been classified as a new oil field discovery. The current
flowing pressure is 900 pounds per square inch through a 14-by-64-inch
choke. By participating in the first well, Dynamic has earned
an interest in an additional 8,840 acres. Dynamic's working interest
is 3 per cent in this well. The operator, Bayshore Energy, is
currently securing the services of a drilling contractor, whereby
a step-out well will be drilled in the first week of January,
2006. Assuming the step-out well is successful, the operator is
planning a 10-well drill program for 2006.
We seek Safe Harbor.
Click
here to SEDAR Interim Financial Statements
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Dynamic
Resources grants 17-cent stock options
2005-12-06 10:27 ET - Options Proposed
Mr. Robert Fedun reports
OPTIONS GRANTED
Dynamic Resources Corp. has issued 100,000 options to a consultant.
Each option entitles the holder to acquire one common share of
the corporation for a period of five years at a price of 17 cents
per share.
We seek Safe Harbor.
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ADVISORY
COMMITTEE ANNOUNCED
2006-01-04 14:08 ET - News Release
Mr. Robert Fedun reports
Dynamic Resources Corp. has recently appointed two members to
its advisory board. Keith Phipps and Mike Newport's main objective
will be to help the corporation identify potential oil/gas targets
throughout the United States. Once identified, potential leases
will be acquired and drill targets selected.
Mr. Newport, CPL, has been actively involved in land management
for 28 years. He started his career with Amoco in its New Orleans
office where he spent two years. He was actively involved in supervising
brokers and writing all forms of land contracts for north and
south Louisiana, Mississippi, Alabama and Florida. He then became
a district landman for Harkins & Co. in its Jackson, Miss.,
and Oklahoma City offices where he spent eight years assembling
drilling prospects and all land activities associated with operations
in Mississippi, Alabama, Florida, Louisiana, Oklahoma and Arkansas.
Mr. Newport then joined Greenhill Petroleum in Houston for six
years where he was the land manager for the company's Permian
basin region. In addition to land management activities, Mr. Newport
was responsible for acquisitions and divestitures. After leaving
Greenhill, Mr. Newport spent the last 12 years managing brokers
for West Texas, south Texas, east Texas, Oklahoma and north Louisiana.
Mr. Newport received a BBA in finance, PLM and MBA degrees from
the University of Oklahoma.
Mr. Phipps graduated from Texas Wesleyan University in 1979 with
a degree in chemistry. Prior to graduation, Mr. Phipps was employed
by the Western Company of North America, a service company in
the oil exploration industry. He worked various job functions
in drilling, completions and workovers for oil and gas exploration
throughout the Texas gulf coast and Rocky Mountains until 1986.
For the next 12 years, Mr. Phipps worked for Nalco Chemical and
Baker Petrolite in well completion engineering and refining. Since
1998, Mr. Phipps was employed as the director of geochemical exploration
for North and South America at W.L. Gore and Associates. In addition
to other business, W.L. Gore and Associates provides geochemical
surveys for oil and gas exploration. The technology Mr. Phipps
managed provides imaging of potential oil and gas accumulations
with 90-per-cent accuracy based on drilled results when used in
conjunction with current geological and geophysical methods of
exploration. Currently, Mr. Phipps is providing consulting services
for exploration companies seeking to use geochemistry to reduce
exploration risk and increase drilling success for oil and gas
exploration.
We seek Safe Harbor.
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