Dynamic to Further Test Chowade Well in British Columbia

Dynamic Oil & Gas reports that drilling has been completed on the Chowade C-95-D well in N.E. British Columbia. A series of drill-stem tests have been conducted and the well has been cased pending further evaluation.

The drill rig has been temporarily stacked and will be moved from the location once spring road-use restrictions are lifted. A service rig is scheduled to be on-site in June for further testing and completion operations.

The exploratory well, drilled 100% by Dynamic, is estimated to cost $3.0 million and will earn a 60% interest to its drilling depth in 2,850 acres of contiguous lands under a farm-in agreement with a large Canadian producer. Terms of the agreement include the earning of a 100% interest in the drilled spacing unit, subject to a convertible 15% overriding royalty. Based on proprietary 2-D seismic that the Company acquired in 2003, at least two additional drilling targets have been identified on contiguous lands.