LAS VEGAS, NV -- 03/13/08 --
Dynamic Resources Corp. ("Dynamic")
(PINKSHEETS: DYRFF) (CNQ: DYRF) -- Dynamic announced today that the
following update from the operator of this 20%-owned well was recently
released.
The project partners have drilled their fourth successful Cotton Valley
test in its Sentell Field Development Program in Bossier Parish, Louisiana.
The latest well, the Rendall 7-2, reached its planned total depth of 9,500
feet on March 10, 2008. Open hole logging and formation testing information
indicates approximately 80 feet of net effective gas pay in the Cotton
Valley interval. The operator is currently preparing the well to run 5 1/2"
production casing to total depth. With this successful test, Dynamic
continues its string of 100% success rate in the Cotton Valley. The first
three wells drilled to the Cotton Valley formation are completed and are
producing to market.
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 Rendall 7-2 well is expected during the
month of April.
The operator plans to move the rig, Nabors Well Services Rig 971, to the
next Cotton Valley test, the Atkins-Lincoln 17-1 immediately after rig
release from the Rendall 7-2 well. The operator expects to spud the
Atkins-Lincoln well on or about March 18, 2008.
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 Director
Direct: 702-743-1343
Fax: 702-869-9832
E-mail: robertfedun@dynamicresourcescorp.com
Website: www.dynamicresourcescorp.com
