Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : dyolf -- Ignore unavailable to you. Want to Upgrade?

To: SnakeInATuxedo who wrote (43)	3/29/2000 9:50:00 AM
From: BlueCheap	Read Replies (1) \| Respond to of 49

Dynamic Announces New Wells On Stream Business Editors, Energy Writers ST. ALBERT, Alberta--(BUSINESS WIRE)--March 29, 2000--Dynamic is pleased to announce the startup of two new gas wells and the re-start of a third gas well as follows: Two gas wells were put into production at St. Albert recently. One well, at 05-25, began producing March 17 and is presently delivering gas from the Basal Quartz zone into the Company's St. Albert sour gas system. It is producing natural gas at approximately 1.4 million cubic feet per day (Mmcf/d) and natural gas liquids at 67 barrels per day (b/d). Due to well pressure differentials, 05-25 is currently displacing production from one other well in the sour system, resulting in a net increase in "system" production of approximately 0.5 Mmcf/d of natural gas and 24 b/d of liquids. The second well at 15-24, re-started producing from the Belly River zone on March 23 at roughly 1.0 Mmcf/d. Originally drilled by its previous owner, the well first came onstream in early 1992. For each of the next four winters it produced at average levels ranging from approximately 0.4 to 0.8 Mmcf/d, and during the warmer seasons it was temporarily shut in. This well, now tied into the Company's sweet gas system is expected to be on year-round production at levels averaging 0.5 Mmcf/d. Dynamic owns a 50% working interest in both St. Albert wells. Redwater, Alberta: On March 17, the Redwater 14-09 well (announced on December 16, 1999 as a new pool gas discovery), commenced production at 1.4 Mmcf/d. Dynamic's working interest in this well is 100%. On an oil equivalent basis (10 mcf of natural gas equals 1 barrel of oil equivalent), all three wells have increased net production by approximately 200 barrels of oil equivalent per day. Dynamic Oil & Gas, Inc. is a Canadian based energy company engaged in the production and exploration of Western Canada's natural gas and oil reserves. The Company owns significant working interests in several Central Alberta producing properties, and in two sizeable exploratory properties located in southwestern and northeastern British Columbia. On Behalf of the Board of Directors, Donald K. Umbach, Vice President and Chief Operating Officer The NASDAQ and Toronto Stock Exchanges have not reviewed nor accepted responsibility for accuracy of this release. Certain statements herein may not be historical facts and may be "forward looking statements" under U.S. securities laws. Such statements are based on management's beliefs, as well as assumptions made by information currently available to management. Forward-looking statements include those preceded by the words "estimate," "will," or words of similar expressions, and are subject to risks, uncertainties and other factors that could cause results to differ materially from expected results. Reserve estimation is an interpretive process based on drilling results and past experience as well as estimates of reservoir characteristics and flow rates, prices, costs of extraction and processing, capital expenditures and many other factors. Actual quality and characteristics of oil and gas accumulations cannot be known. --30--rr/cgo* CONTACT: Dynamic Oil & Gas Inc. Donald K. Umbach, 604/214-0550 Toll Free: 1-800/663-8072 Email: infodynamic@dynamicoil.com URL: www.dynamicoil.com