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 : Dynamix Corp (DYX was Dakota Resources, DAK) -- Ignore unavailable to you. Want to Upgrade?

To: Keith Minler who wrote (495)	9/23/1998 4:58:00 PM
From: Benjamin Ng	Read Replies (2) \| Respond to of 587

Dynamix Corporation - Oil and Gas Development and Exploration CALGARY, ALBERTA -- 1998-09-23 -- Dynamix Corporation (DYX/ASE) is pleased to announce that it has concluded the following as part of its continued growth into exploration and development for oil and gas: 1. A farm-in with First Star Energy to earn a 25 percent working interest before payout (12.5 percent working interest after payout) in a Cooking Lake Test Well (oil) in the Zeta Prospect in Central Alberta. The earn-in will be for a quarter section with a 12.5 percent working interest in the balance of the section. Dynamix also has an option to earn a like interest in 3.5 additional sections. The company considers this a high-risk, high-reward prospect to be earned through payment of 25 percent of the drilling costs that will approximate $100,000 (net). Spud date is estimated for November 1998. 2. A farm-in to earn a 10 percent WI before payout (5 percent WI after payout) in a multi-zone gas development well to be drilled within the next 12 months to the Mississipian formation. This well will be in the vicinity of the recently announced First Star and partners Strachan 2-22-38-9W5M Swan Hills/Beaverhill Lake discovery. Dynamix will earn the spacing unit plus an additional section and an additional section. This well is to be drilled within the next 12 months. 3. The company also participated in the recent Crown Land Sale on September 16, 1998 for a 5 percent WI in 2 parcels, Parcel BO 134 (2 sections) and parcel BO 130 (8 sections). Both parcels are in close proximity to the aforementioned 2-22 discovery well. Parcel 134 includes all P&NG rights from the surface to the basement while parcel 130 includes various rights below the Cardium depending on the section. Additionally, with reference to the press release dated June 24, the operator for the 5 well shallow gas development program in Johnson County, Kentucky -- Carson Associates -- has informed the Corporation that spudding is to commence before month end. Pipeline has been laid and the drilling program should be completed in 3-4 weeks. The Corporation has information available at the new website at dynamix-corp.com and may be reached via email at rleblanc@dynamix-corp.com. FOR FURTHER INFORMATION PLEASE CONTACT: Dynamix Corporation Richard LeBlanc Executive Vice President/Director (403) 221-7715 (403) 221-7717 (FAX) dynamix-corp.com rleblanc@dynamix-corp.com or Dynamix Corporation Randy Marshall, P.Eng. Vice President (Operations, Production & Engineering) (403) 221-7706 The Alberta Stock Exchange has neither approved nor disapproved the information herein contained.