Wyn Developments Inc.

Wyn Developments Inc.
Flying A Petroleum Ltd.

Bighorn Petroleum Ltd.

Tenaka Drilling Consortium

April 30, 2007 00:15 ET

Bighorn Petroleum Ltd., Flying a Petroleum Ltd., Tenaka Drilling Consortium Ltd. and Wyn Developments Inc. Sign Non-Binding Letter of Intent to Combine Into a New Canadian Natural Gas Company

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 30, 2007) - Bighorn Petroleum Ltd. (TSX VENTURE:BHP), Flying A Petroleum Ltd. (TSX VENTURE:FAB), Tenaka Drilling Consortium Ltd. and Wyn Developments Inc. (TSX VENTURE:WL)(OTCBB:WYDPF)(FRANKFURT:YXE), collectively the "Parties", are pleased to announce that they have entered into a non-binding letter of intent ("LOI") dated April 27, 2007, to enter into negotiations to formalize a business combination.

The terms of the LOI provide that the parties complete a due diligence review of each others' interests for a period of 120 days. During this due diligence period, it is anticipated that a NI 51-101 compliant reserves evaluation report will be prepared for all properties owned by the parties. The final structure of the business combination will be determined by the parties upon a review of tax, accounting, corporate and securities law issues.

The share exchange ratio and/or other consideration to be tendered by each party will be determined through negotiation between the parties upon receipt of all due diligence materials and in compliance with regulatory policies. The LOI provides that all share purchase warrants of the parties outstanding immediately prior to the closing of the business combination will be transferred to an equivalent number of warrants of the agreed upon successor entity.

The parties have agreed to negotiate with each other for the 120 day due diligence period and to exchange confidential information with a view to completing their due diligence investigations and settling a definitive agreement as soon as possible. If a definitive agreement is reached, it is expected to contain typical conditions for a transaction of this type, including the approval of the parties' shareholders and all necessary regulatory and court approvals.

The parties will provide news releases with updates on their progress with respect to this transaction in a timely manner during the coming months.

The parties are currently active partners on three property areas; the Prophet River, Bougie Trutch, and Trutch East natural gas development projects, all located in the Foothills region of the prolific natural gas bearing Western Canadian Sedimentary Basin, in northeastern British Columbia, Canada. The Western Canadian Sedimentary Basin is home to many world-class oil and gas fields, featuring extensive logistical infrastructure. The combined assets of all participants include:

- A 100% working interest in the Prophet River 'A' lands.

- A 65% working interest in the Prophet River 'B' lands.

- A 32.5% gross working interest in the Bougie Trutch lands, including a third party overriding royalty, subject to various terms.

- A 19.5% working interest in the Trutch East lands, including third party overriding royalty, subject to various terms.

- Milestone bonuses and stock payments for successful tie-in on the Trutch lands and minimum proven reserves on the Prophet River project.

- A British Columbia Oil and Gas Commission issued Operator's license.

- A combination of tax pools, government royalty credits, exploration credits, etc.

- A 32.5% interest in 14,217 meters of six inch pipeline from the Tommy Lake field to the c-36-A well, and a total of 1,688 meters of four inch pipeline from c-36-A to the b-56-A and c-25-A wells.

- A 100% ownership of the Prophet River 'A' and 'B' land 3D seismic data.

- The recently drilled d-60-E/94-G-15 Prophet River well, which as previously announced, yielded an initial unstabilized gas flow of up to 7.943 MMcf.d. from the Mississippian Horizon and excellent gas detection in the Triassic Halfway Formation, earning 11 square miles of leases from the surface to the Sulphur Point Formation (The British Columbia Oil and Gas Commission has recently reclassified the d-60-E/94-G-15 well as an 'exploratory wildcat' well, and the Mississippian formation as a 'new pool discovery').

- The right to earn an additional 10 square miles on the Prophet River 'B' Lands.

- 4 Triassic Halfway Formation wells: Two Triassic Halfway wells are currently producing since February 2007 which include the c-36-A/94-G-15 'new pool discovery' which the Operator has advised averaged 1.154 MMcf.d and b-56-A/94-G-15 which averaged 807.3 Mcf.d according to February 2007 production figures. The two other Triassic Halfway Formation wells are a-13-B/94-G-15 which tested 827.8 Mcf.d and b-086-A/94-G-15 which was recently drilled and cased.

- The producing c-25-a/94-G-15 Trutch East Halfway well which the Operator advised averaged 1.4 MMcf.d according to February 2007 production figures.

This transaction is subject to shareholder and regulatory approval.

Thomas W. Bainbridge, P.Geol., is the qualified consultant for the Company's natural gas projects and has reviewed and verified the contents of this news release.

For more information on the parties, please visit www.bighornpetroleum.com, www.flyingapetroleum.com, and www.wyndevelopments.ca.

On Behalf of the respective boards,


David McMillan, President and CEO Nash Meghji, President & CEO


Darren Stevenson, President & CEO Alistair Maclennan, President and CEO


This press release may contain forward-looking statements including expectations of future production. More particularly, this press release contains statements concerning Wyn Developments Inc.'s 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 Information

  • Bighorn Petroleum Ltd.
    Darren Stevenson
    President & CEO
    (604) 683-7837
    (604) 683-7881 (FAX)
    Email: info@bighornpetroleum.com
    Website: www.bighornpetroleum.com
    Flying a Petroleum Ltd.
    Nash Meghji
    President & CEO
    (604) 683-0466 or Toll Free: 1-800-665-3250
    (604) 685-8474 (FAX)
    Email: info@flyingapetroleum.com
    Website: www.flyingapetroleum.com
    Tenaka Drilling Consortium Ltd.
    Alistair MacLennan
    President & CEO
    (604) 684-1007
    (604) 684-3033 (FAX)
    Email: alistair@urg.ca
    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
    Email: ir@urg.ca
    Website: www.wyndevelopments.ca.
    Small Cap Invest Ltd
    Alexander Friedrich
    49 (0) 69 24 24 93 49 or 49 (0) 12 12 544 71 04 62
    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