Dynamic Announces New Director and Orion Land Sale Results.Business Editors VANCOUVER, B.C.--(BUSINESS WIRE)--Aug. 18, 2000 Dynamic Oil & Gas Inc. (Nasdaq:DYOLF) (TSE See Tokyo Stock Exchange. TSE 1. See Tokyo Stock Exchange (TSE). 2. See Toronto Stock Exchange (TSE). :DOL DOL - Display Oriented Language. Subsystem of DOCUS. Sammet 1969, p.678. .) The Company is pleased to announce the appointment of Mr. John Lagadin of Calgary, Alberta to its Board of Directors. He has a long list of related industry achievements in his illustrious career. Mr. Lagadin is the founder of the Alliance Natural Gas Pipeline, a $4.5 billion project involving 7,000 workers over a distance of 3,080 kilometres between NE British Columbia British Columbia, province (2001 pop. 3,907,738), 366,255 sq mi (948,600 sq km), including 6,976 sq mi (18,068 sq km) of water surface, W Canada. Geography and Chicago. In recent years, Mr. Lagadin has fulfilled the role of President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. for two well-known companies, Direct Energy Marketing Limited and GeoScope Exploration Technologies, Inc., both headquartered in Calgary, Alberta. He is currently a director of Cabre Exploration Ltd. and Petro-Reef Resources, also of Calgary. Also among his credits are the founding and development of Energy Exchange Inc., a concept that lead to the first electronic gas marketing system to enter the market and the co-founding and financing of Municipal Gas Corporation, an aggregator of residential and commercial natural gas customers. Mr. Lagadin has a Bachelor of Science Noun 1. Bachelor of Science - a bachelor's degree in science BS, SB bachelor's degree, baccalaureate - an academic degree conferred on someone who has successfully completed undergraduate studies degree in Geological Engineering Geological engineering is the engineering science of applying engineering principles to the study of geological materials as part of the engineering design of facilities including roads, tunnels, and mines especially as related to minerals and mineral products. from Michigan Technology University. In year 2000, he was awarded the Centennial Leadership Award by the Association of Professional Engineers, Geologists and Geophysicists of Alberta in recognition of his achievements in the natural gas industry, and is currently an independent businessman residing in Calgary. The Company is also pleased to announce it has acquired 5,287 acres (2,136 hectares or approximately 8 sections) of Crown Petroleum and Natural Gas ("P&NG") rights in the Orion area of NE British Columbia at the Government Land Sale held in Victoria, B.C. on August 16, 2000. The P&NG rights will be issued to Dynamic Oil & Gas, Inc. in the form of one 'Drilling License' for a term of five years. This block of land is contiguous to the three Drilling Licenses acquired and announced in late October, 1999. Dynamic made its initial investment in NE British Columbia last October to explore the area for Bluesky, Debolt and Jean Marie Jean Marie may refer to:
The Company is attracted to the Orion area on the prospect of developing large gas reserves at a time when economics in the area are strong due to improved provincial crown royalty rates and record high gas prices. Dynamic's lands are strategically located near pipeline infrastructure and an important, year-round access road. Dynamic has an undivided 100% interest in the newly-acquired parcel and in the previously announced three parcels, subject to applicable royalties. The Company paid C$0.44 million for this new Drilling License. Dynamic Oil & Gas, Inc. is a Canadian-based energy company engaged in the production and exploration of Western Canada's natural gas and oil reserves Oil reserves refer to portions of oil in place that are claimed to be recoverable under economic constraints. Oil in the ground is not a "reserve" unless it is claimed to be economically recoverable, since as the oil is extracted, the cost of recovery increases incrementally . The Company owns significant working interests in several Central Alberta Central Alberta (also named Alberta's Heartland) is a region located in the Canadian province of Alberta. Central Alberta is the most densely populated rural area in the province. Agriculture and energy make up an important part of the economy. producing properties, and in two sizeable exploratory properties located in southwestern and northeastern British Columbia. On Behalf of the Board of Directors, Wayne J. Babcock, President and CEO The NASDAQ and Toronto Stock Exchanges Toronto Stock Exchange (TSE) Canada's largest stock exchange, trading approximately 1,200 company stocks and 33 options. have not reviewed nor accepted responsibility for accuracy of this release. Certain statements herein may not be historical facts and may be "forward looking statements" under U.S. securities laws. Such statements are based on management's beliefs, as well as assumptions made by information currently available to management. Forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. include those preceded by the words "estimate," "will," or words of similar expressions, and are subject to risks, uncertainties and other factors that could cause results to differ materially from expected results. Reserve estimation is an interpretive process based on drilling results and past experience as well as estimates of reservoir characteristics and flow rates, prices, costs of extraction and processing, capital expenditures and many other factors. Actual quality and characteristics of oil and gas accumulations cannot be known. |
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