Wyn Developments Inc.

Wyn Developments Inc.

November 22, 2006 00:15 ET

Wyn Developments Inc. Signs Participation Agreement on Trutch East Natural Gas Development Land Package

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 22, 2006) - Wyn Developments Inc. (the "Company") (TSX VENTURE:WL)(PINK SHEETS:WYDPF)(FWB:YXE) announces it has acquired a 15% working interest in the Trutch East natural gas lease package (15 square miles), updates on the Company's various natural gas projects, and closes the subscription book for the non-brokered private placement offering (announced October 25th, 2006).


The Trutch East land package is located in the prolific natural gas producing Western Canadian Sedimentary Basin in northeastern British Columbia, on trend with the East to West industry expansion of pipeline and support infrastructure. The Trutch East lands consist of fifteen (15) sections (district spacing units) of which at least twelve hold the potential for a total of up to twenty-four (24) Triassic Halfway development wells (upon half-spacing drilling targets). The property adjoins the Company's Bougie Trutch lands (26 square miles) and is situated between the successful c-36-A/94-G-15 Triassic Halfway Discovery well and the Tommy Lake Triassic Halfway Field. Possible undeveloped reserves for the Trutch East are estimated at sixty (60) Billion cubic feet (Bcf) of natural gas in the Triassic Halfway Formation based on both 2D and 3D seismic interpretation.


Under the terms of the Trutch East Participation Agreement, the Company will have the right to earn a fifteen percent (15%) rolling working interest in the 15 section (15 square mile) Trutch East lands. This rolling interest will include all zones from the surface through the Halfway horizon. By participating in the c-25-A/94-G-15 Triassic Halfway development well, the Company will earn the right to participate in additional option wells on the property. Each section drilled will earn the Company the section drilled and an additional section (of the 15 total), as well as the opportunity to participate in the option well (and earning blocks) that follow.

Upon the execution of this Agreement, Wyn Developments will issue, in the name of the Farmor, Tenaka Drilling Consortium, both cash and non-assessable common shares of the Company as finders fees at three defined stages in the following amounts:

(a) CAD $3,000 non-refundable deposit upon signing the Right of First Refusal (paid).

(b) CAD $6,000 non-refundable deposit upon execution of the Participation Agreement.

(c) CAD $36,000 in stock. The shares issued will be based on the average market price based on the previous ten (10) days from execution of the Participation Agreement.

This agreement is subject to TSX Venture Exchange approval.


At the Prophet River, completion and testing continues on the d-60-E/94-G-15 Devonian Slave Point Exploratory well, and results are anticipated mid-December.

Recent consultations with Focus Energy Trust (FET), the Operator of both the Bougie Trutch and Trutch East Triassic Halfway development programs, confirms that weather permitting, drilling will commence on both the b-56-A/94-G-15 (c-36-A offset - Bougie-Trutch West Block) and the c-25-A/94-G-15 (Trutch East Block) wells late November. Halfway drilling typically requires seven to ten days to reach total depth and an additional two weeks for completion. Pipeline expansions from the Tommy Lake field, through the Trutch East lands and into the Bougie Trutch property have been finalized, and with success, will tie-in wells c-36-A, b-56-A, and c-25-A for production early Q1 2007, weather permitting.


The Company also announces it has closed the subscription book on the non-brokered private placement (announced October 25th, 2006), and is awaiting TSX Venture Exchange approval. The Company has raised gross proceeds of CAD $2,893,950 for ongoing natural gas exploration and development programs and general working capital.

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

More information on Wyn's natural gas projects is available at www.wyndevelopments.ca.

On Behalf of the Board,


David McMillan, President & 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. 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

  • 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
    (604) 685-7349 (FAX)
    Email: ir@urg.ca
    Website: www.wyndevelopments.ca
    Small Cap Invest Ltd. - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49
    49 (0) 12 12 544 71 04 62 (FAX)
    Email: afriedrich@small-cap-invest.com
    Yes International Inc. - United States
    Rich Kaiser
    (757) 306-6090 or Toll Free: 1-800-631-8127
    (757) 306-6092 (FAX)
    Email: rich@yesinternational.com