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 Cotton Valley interval in its Atkins-Lincoln 17-2 well with positive results. The well reached planned intermediate pipe depth of 9,500 feet on September 26, 2008. Subsequent to logging the Cotton Valley and shallower horizons, 7-inch casing was set at 9,500 feet and the well is drilling ahead to test the Haynesville Shale at a planned total depth of 11,000 feet. This well is located in the center 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 this year.
Wireline logging and mud log shows indicate the Atkins-Lincoln 17-2 well encountered 68 feet of net effective gas pay in the Cotton Valley formation. Notably, there are a number of pay sands correlative to the pay intervals in the Company’s existing wells, which indicates the 17-2 well may produce similar results to the other Cotton Valley wells drilled in the Sentell Field. The Atkins-Lincoln 17-2 is the Company’s seventh consecutive successful Cotton Valley well in the Sentell Field. 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 Point 30-1, is scheduled to flow into sales lines in the 4th quarter of 2008.
Robert Fedun, President and Chief Executive Officer, said: “The well logs and formation evaluation for 17-2 are similar to our previous six successful wells, and further validates our Cotton Valley strategy. The preliminary results from this last well suggest further positive results for our shareholders from the Cotton Valley Sands. As the Company drills into the Haynesville Shale, we will determine the nature of our deep potential in the Sentell Field. The presence of pay in the Lower Bossier/Haynesville would represent large upside for our Company.”
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.
The Company also announced that it has appointed Valiant Trust Company of Calgary, Alberta as its transfer agent.
Website: Website: http://www.dynamicresourcescorp.com