Dynamic Resources is undertaking a non-brokered private placement of up to $1.5-million by the issuance of units priced at five U.S. cents, with each unit comprising one common share and one common share purchase warrant exercisable at eight U.S. cents for a period of two years from closing.

The majority of the net proceeds will be used for the completion of the two Haynesville shale wells, the Atkins-Lincoln 17-2 and Burt 20-1, that have already been successfully drilled. The balance of the moneys will be used for tie-ins, pipelines, associated costs and facility completions in respect to the Sentell field project. The company will pay finders' fees to those parties which are assisting it in completing this financing.

Wireline logging and mud log shows indicate the Burt 20-1 well encountered 423 feet of highly laminated, silty and naturally fractured Haynesville shale with shale-corrected porosity indications averaging over 12 per cent and resistivity readings ranging between 20 and 70 ohm-metres. Mud logs indicated abundant gas shows throughout the interval, ranging from 600 to 1,800 units with trip gas as high as 3,800 units. The company recovered over 120 feet of conventional core samples over key intervals within the Haynesville shale, which have been sent to Houston for detailed analysis. Similar results were also achieved in the Atkins-Lincoln 17-2 well. Comparative analyses to successful surrounding Haynesville shale completions indicate a high probability of excellent results in these wells. Completion operations on the Burt well are expected to begin in early February, pending extension of the field gathering system. The Atkins-Lincoln well will be completed subsequent to the completion and testing of the Burt well.

The company's fourth well in the 2008 development program, the Moore 20-1, is currently being drilled directionally from the same surface location as the Burt 20-1 and is targeting the Cotton Valley interval.

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