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Gold/Mining/Energy : KERM'S KORNER -- Ignore unavailable to you. Want to Upgrade?

To: Kerm Yerman who wrote (11676)	7/9/1998 12:39:00 PM
From: SofaSpud	Respond to of 15196

CORP. / Dynamic Oil updates reserves DYNAMIC OIL LIMITED ADDS SUBSTANTIAL NEW RESERVES IN FISCAL 1998 VANCOUVER, July 9 /CNW/ - Dynamic Oil Limited NASDAQ: DYOLF VSE: DOL Effective April 1, 1998, Dynamic is pleased to announce a 209% increase in reserves over the previous year. Since April 1, 1997 the Company has added proven and probable reserves of 3.75 million barrels of oil equivalent (BOE). New reserves have replaced fiscal 1998 production by a factor of 34.3 times. Proved and probable gas reserves rose 136% to 38.6 (Bcf) billion cubic feet in 1998, up from 16.3 Bcf recorded the previous year. Proved natural gas liquids and crude oil rose 928% to 1.7 million barrels from 164 thousand barrels in 1997. Total proved and probable reserves increased from 1.8 million BOE in fiscal 1997 to 5.5 million BOE in fiscal 1998. The Company's portfolio of reserves is weighted heavily in favor of gas with natural gas and natural gas liquids comprising 97% of Dynamic's proved reserves. Probable reserves account for only 7.6% of the Company's total reserve base. Additions came primarily from the acquisition and development of a significant new property at St. Albert, Alberta. For the month of March, ending fiscal 1998, production volumes averaged 930 BOE per day compared to 219 BOE per day for March 1997. Production rates exiting the first quarter, ending June 1998, are estimated at 1,500 BOE per day. A detailed description of properties and reserves will be presented in the Company's 1998 Annual Report to be released July 23, 1998. First quarter financial results will be available by the end of August 1998. On behalf of the Board of Directors, ------------------------- Wayne J. Babcock President NASDAQ and the Vancouver Stock Exchange has not reviewed nor accepted responsibility for accuracy of this release. -30- For further information: Wayne J. Babcock (604) 214-0550 or Toll-Free 1-800-663-8072, fax (604) 214-0551, E-Mail infodynamic@dynamicoil.com

To: Kerm Yerman who wrote (11676)	7/9/1998 12:41:00 PM
From: SofaSpud	Respond to of 15196

FIELD ACTIVITIES / Opal at 3,000 b/d OPAL GOES THROUGH 3,000 BOEPD CALGARY, July 9 /CNW/ - Opal Energy Inc. is pleased to announce that on June 30, 1998, the company's daily production broke through 3000 boepd. Opal's production base has grown and diversified dramatically since its startup with the production mix now being 46% liquid rich natural gas, 23% light oil and natural gas liquids, while proportionally reducing its original base of heavy oil to 31%. Successful drilling, exploitation and optimization are the key factors in reaching this level. In addition, Opal continues to build an inventory of prospects to fuel future growth. Opal is well positioned to capitalize on the current natural gas price environment and also maintains a solid platform to enjoy the benefits of stronger cash flow as crude oil moves back to historical pricing levels. The company is well on its way to meet its 1998 exit target rate of 3300 boepd -30- For further information: Mr. Kelly Ogle, President and Chief Executive Officer, (403) 781-1422; or Mr. Joe Durante, Executive Vice President and Chief Financial Officer, (403) 781-1424