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Gold/Mining/Energy : Dynamix Corp (DYX was Dakota Resources, DAK)
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To: Saverio who wrote (527)3/20/1999 11:00:00 AM
From: David Michaud  Read Replies (1) of 587
 
Dynamix three-month results

Dynamix Corp DYX
Shares issued 20,308,322 Mar 19 close $0.05
Fri 19 Mar 99 Company Review
An anonymous director reviews the company
In late December the company started flowing gas at its
Greasy Creek development program from its first well. The
program experienced delays primarily due to the high level of
activity in the area that made access to drilling/completion crews
and equipment difficult. Initial results are encouraging and
higher than expected. With the early success of the program the
company looks toward continuing with another five well program in
the summer of 1999. Ultimately the program could be as large as
40-60 wells which development will likely take up to five years
assuming continued success and high commodity prices. Gas prices for
the quarter ranged from $2.25-2.50 thousand cubic feet because
the Appalachian Basin continues to command premium pricing due to
proximity to existing markets and a well-developed
infrastructure.

STATEMENT OF LOSS
Three months ended Dec. 31

1998 1997

Revenue $774,056 $ -
-------- --------
Expenses

Operating 766,016 32,338

General and admin 103,417 184

Depletion and
depreciation 53,433 2,502
-------- --------
922,866 35,024
-------- --------
Loss from operations 148,810 35,024

Loss on disposal of
assets 550 -
-------- --------
Net loss $149,360 $ 35,024
======== ========
Loss per share .7 cent .2 cent
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