Wyn Developments Inc.

Wyn Developments Inc.

April 16, 2007 13:03 ET

Wyn Developments Inc. Spring 2007 Update

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - April 16, 2007) - Wyn Developments Inc (the "Company")(TSX VENTURE:WL)(OTCBB:WYDPF)(FRANKFURT:YXE) is providing an update of recent activities, including the Company's natural gas exploration and development programs.


The Company announces the b-A86-A/94-G-15 Triassic Halfway development well has been drilled to target depth. Casing has been run and the rig has been released. By drilling this well, the Company has now earned an additional six sections (6 drill spacing units). On the Bougie Trutch lands, the Company has now earned a total of 18 Halfway focused sections (18 drill spacing units) from the surface to above the Slave Point Formation.


A thorough review of all known data from the Prophet River Lands, including 2D and 3D seismic and the d-60-E/94-G-15 exploratory well data has continued since the crew left the drill site late January 2007. Upon the Operator's interpretation of pressure, seismic, petrophysical and petrographic data, and confirmation of the results by the British Columbia Oil & Gas Commission, the d-60-E/94-G-15 well has been re-classified as an 'Exploratory Wildcat Well' and new pool discovery.

According to the British Columbia Oil and Gas Handbook, "an Exploratory Wildcat classification is assigned when the proposed well is greater than seven kilometers from a designated oil or gas pool. Exploratory Wildcat well information is held confidential for one year after the rig release date," although this is at the discretion of the Company.

A "pool", as defined in the Petroleum and Natural Gas Act, "is an underground reservoir containing an accumulation of petroleum or natural gas, or both, separated or apparently separated from another reservoir or accumulation."

According to the British Columbia Oil and Gas Handbook, a "Discovery" well classification is best described as one in which "geological, geophysical and engineering data and...interpretive analysis, (have) clearly demonstrate(d) that a new pool has been discovered." The Company will benefit from three years of government royalty free production as a result of this discovery well classification, a credit offered as an exploration incentive due to the higher cost and lower success rates of such projects.

Two additional developments have also occurred on the Prophet River project. The Operator, per the option agreement on the property, has elected to convert its 35% working interest to a 12.5% non-convertible gross overriding royalty on Block A of the Prophet River project lands. This election to convert now increases the Company's working interest in the Prophet River Block A lands from 21 2/3% to 33 1/3%. Further, the Company has confirmed its election to drill on the 10 square mile Prophet River option Block B, and has selected the first location. The Company is required to spud a well on the Block B lands by March 31, 2008.


In order to meet current obligations and proceed with adequate working capital for strategic initiatives, the Company is announcing a private placement of up to 4 million units at CAD $0.25 for gross proceeds of up to CAD $1,000,000. Each unit consists of one share and one purchase warrant exercisable at $0.35 for a period of two years from closing.

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 Bougie Trutch and Trutch East natural gas development projects, visit 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.
    Tom Brady
    North America
    (604) 685-5851 or Toll Free: 1-888-685-5851
    Wyn Developments Inc.
    Chad McMillan
    North America
    (604) 685-5851 or Toll Free: 1-888-685-5851
    Wyn Developments Inc.
    Dave McMillan
    North America
    (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.
    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.
    Rich Kaiser
    United States
    (757) 306-6090 or 1-800-631-8127
    (757) 306-6092 (FAX)
    Email: rich@yesinternational.com