Wyn Developments Inc. Releases Drilling Results of Winter 2005/2006 Natural Gas Exploration Program
Wyn Developments Inc. announces the release of drilling results for the FET et al c-36-A/94-G-15 and a-13-B/94-G-15 wells drilled during the winter 2005/2006 drill season. Wyn also announces shareholders will be notified once testing and completion is underway on the Prophet River (d-60-E/94-G-15) Slave Point Exploratory well.
FET et al Tommy c-36-A/94-G-15
The FET et al Tommy c-36-A well was spudded on December 12, 2005 and reached a Total Depth of 1275 meters on December 19, 2005 within the Triassic Montney Formation. Schlumberger well logs have indicated a (25.7 meter gross) Triassic Halfway Formation sandstone reservoir. This well was perforated over a six meter interval and after a 4 day flow test the well was shut-in (January 9, 2006) with a final rate of 46.73 E3M3/d (1.65 Million Cubic Feet per day) on a 38.1mm choke. The British Columbia Oil & Gas Commission has confirmed this is a New Pool Discovery. Two offsetting wells have been licensed by the Operator, Focus Energy Trust, for the upcoming 2006/2007 winter drill season, and if successful, these offset wells and c-36-A will be tied-in for production late 1st Quarter 2007.
FET et al Trutch a-13-B/94-G-15
The FET et al Trutch a-13-B well was spudded on January 20, 2006 and reached a Total Depth of 1223 meters on January 25, 2006 within the Triassic Doig Formation. Schlumberger well logs have indicated a (24 meter gross) Triassic Halfway Formation sandstone reservoir. This well was perforated and completed by the Operator in the Triassic Halfway Formation and after a 5 day flow test the well was shut-in (February 16, 2006) with a final rate of 23.32 E3M3/d (827.8 Thousand Cubic Feet per day) on a 38.1mm choke. In addition, 18 meters of Triassic Charlie Lake Formation was present and log analysis suggests gas saturation during this interval, although this formation has not yet been perforated or stimulated for testing. This well is not producing at present. The a-13-B well is located 5.5 kilometers west-southwest of c-36-A and both are now confirmed Triassic Halfway Formation sandstone reservoirs.
Bougie Trutch Interest
Wyn Developments has earned a total of twenty-six (26) square miles from the Slave Point formation to the basement, and twelve (12) square miles (two (2) earning blocks) from the surface to all zones above the Slave Point. The Company also has a working interest in all other sections within the 26 sections (26 square miles) Bougie Trutch land package.
Trutch East
Wyn is very encouraged by the aforementioned results and as such is currently negotiating a rolling interest in 15 square miles adjoining the eastern boundary of the Bougie Trutch property. This land package, coined Trutch East, lies between the prolific Tommy Lake Field (approximately 157 BCF produced to date and estimates of 400 BCF reserves) and the c-36-A well (1.65 MMCF). Both 2D and 3D seismic have been completed on the property and further details will be provided upon completion of the negotiations.
Thomas W. Bainbridge P.Geol., is the qualified person for this project and has reviewed and verified the contents of this news release.
For more information on Wyn Developments visit www.wyndevelopments.ca.
On Behalf of the Board,
WYN DEVELOPMENTS INC.
David McMillan, President & CEO
FORWARD-LOOKING STATEMENTS
This press release may contain forward-looking statements including expectations of future production. More particularly, this press release contains statements concerning Wyn Developments Inc. future production estimates, expansion of oil and gas property interests, exploration and development drilling, regulatory applications, payout estimates, capital expenditures, and drilling locations to be drilled in 2006. These statements are based on current expectations that involve a number of risks and uncertainties, which could cause actual results to differ from those anticipated. These risks include, but are not limited to: the risks associated with the oil and gas industry (e.g., operational risks in development, exploration and production; delays or changes in plans with respect to exploration or development projects or capital expenditures; the uncertainty of reserve estimates; the uncertainty of estimates and projections relating to production, costs and expenses, and health, safety and environmental risks), commodity price, price and exchange rate fluctuation and uncertainties resulting from potential delays or changes in plans with respect to exploration or development projects or capital expenditures. Additional information on these and other factors that could affect Wyn’s operations or financial results are included in Wyn Development’s reports on file with Canadian securities regulatory authorities. The forward-looking statements or information contained in this news release are made as of the date hereof and Wyn Developments undertakes no obligation to update publicly or revise any forward-looking statements or information, whether as a result of new information, future events or otherwise, unless so required by applicable securities laws. Oil and Gas Advisory. This press release contains disclosure expressed as “Boe/d”. All oil and natural gas equivalency volumes have been derived using the ratio of six thousand cubic feet of natural gas to one barrel of oil. Equivalency measures may be misleading, particularly if used in isolation. A conversion ratio of six thousand cubic feet of natural gas to one barrel of oil is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the well head.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
Contact:
Contacts: Wyn Developments Inc. – North America Tom Brady
(604) 685-5851 or Toll Free: 1-888-685-5851
Wyn Developments Inc. – North America Chad McMillan
(604) 685-5851 or Toll Free: 1-888-685-5851
Wyn Developments Inc. – North America Dave McMillan (604) 685-5851 or Toll Free: 1-888-685-5851 (604) 685-7349 (FAX)
Email: ir@urg.ca
Small Cap Invest Ltd. – Europe Alexander Friedrich 49 (0) 69-24 24 93 49 49 (0) 12 12 544 71 04 62 (FAX)
Email: afriedrich@small-cap-invest.com
Yes International Inc. – United States Rich Kaiser (757) 306-6090 or 1-800-631-8127 (757) 306-6092 (FAX)
Email: rich@yesinternational.com
Source: Wyn Developments Inc.
