Dynamic Resources Corp. Announces Sentell Field Updateadmin
Dynamic Resources Corp. has been informed by the operator of its Sentell Field project that it has successfully drilled and logged the targeted Haynesville interval in its Atkins-Lincoln 17-2 Well with positive results. The well reached a total depth of 11,300 feet on October 14, 2008. This well is strategically located in the center section of the Company’s Sentell Field in Bossier Parish, Louisiana. The Atkins-Lincoln 17-2 is the second well in the Company’s 2008 development program and the first of two Haynesville Shale vertical test wells in the Sentell Field planned for 2008.
Wireline logging and mud log shows indicate the Atkins-Lincoln 17-2 Well encountered 205 feet of highly laminated, silty, and naturally fractured shale zone with cross plot porosities ranging from nine to 12 percent. Mud logs indicated abundant gas shows throughout the interval, ranging from 400 to 600 units with trip gas as high as 3,000 units. This interval exhibits the characteristics of the Lower Bossier Shale. Immediately below this laminated section, the well encountered approximately 185 feet of quality dark black organic rich shale. In this zone, gas shows ranged between 1,100 and 3,000 units. This lower interval exhibits all of the characteristics that the industry classifies as the Haynesville Shale. The wellbore is suspended with 7-inch intermediate casing through the Cotton Valley Formation at 9,500 feet in order to preserve the option to either complete the well as a vertical producer, or to re-enter the wellbore for horizontal drilling pending the development of completion techniques.
As a member of the Core Laboratories (“Core Lab”) Integrated Reservoir Solution’s regional Haynesville Shale Study, the Company’s data are being incorporated into the Core Lab database for use in designing optimum completion techniques for horizontal drilling in the Haynesville play.
The Atkins-Lincoln 17-2 is the Company’s seventh consecutive successful Cotton Valley well in the Sentell Field, and the first well to positively evaluate the Haynesville Shale. Each of the Company’s seven Cotton Valley wells has similar log characteristics. Five of these wells are flowing into sales lines. The Company’s sixth successful Cotton Valley well, the Cash Pointe 30-1, is scheduled to flow into sales lines in fourth quarter 2008.
Robert Fedun, president of the Company, said: “The preliminary results from the Atkins-Lincoln 17-2 Well represent significant news. We believed that we might be sitting on top of a significant Haynesville position, and now we have evidence that the Sentell Field is right in the middle of the Haynesville play. We have extensive petrophysical analysis work ahead of us, and another vertical Haynesville test well to drill this year, but the initial results are positive. This new well discovery should be additive to our reserve base.”
The next drill location, the A S Burt 20-1 location is southwest of the current well and is designed as a combination Cotton Valley development well and second Haynesville evaluation well. This well is expected to spud as soon as the rig can be moved and set up.
The Company owns a 20% working interest in approximately 5,300 acres in the Sentell Field, located in the heart of the known Cotton Valley trend north of Shreveport, Louisiana. To date, the Company has drilled seven successful tests of the Cotton Valley sands, five of which are connected to the market and producing revenues, with a sixth expected to produce revenue in the fourth quarter of 2008.