Wyn Developments Inc.
TSX VENTURE : WL
PINK SHEETS : WYDPF
FRANKFURT : YXE

Wyn Developments Inc.

August 24, 2006 00:15 ET

Wyn Developments Inc. Updates on Natural Gas Projects

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 24, 2006) - Wyn Developments Inc. ("The Company") (TSX VENTURE:WL)(OTCBB:WYDPF)(FWB:YXE) announces an update of its natural gas exploration activities, including: drilling progress on the Prophet River Slave Point exploratory well, winter development plans for the Bougie Trutch natural gas development project, and negotiations to acquire an interest in a new prospective natural gas land package.

THE PROPHET RIVER NATURAL GAS EXPLORATION PROJECT

Further to the June 23rd, 2006 news release, the Company announces that the Prophet River Slave Point exploratory well is progressing as anticipated, both on time and on budget. This well is expected to reach total depth in early September, at which time the Company will decide whether testing and completion of the well is warranted. This testing and completion would take approximately 20 days and provide a commercial evaluation of the well's potential.

THE BOUGIE TRUTCH NATURAL GAS DEVELOPMENT PROJECT

As previously reported, the two "Halfway" wells drilled in December 2005 and January 2006 at Bougie Trutch were successful, as the Operator tested and set production casing on both wells. The BC Oil and Gas Commission also confirmed that the c-36-A well proved the existence of a new gas pool. In the upcoming 2006/2007 winter season, the Company will be building upon this success by drilling two additional "Halfway" formation delineation wells near the original C-36-A well. If successful, these three wells should be tied-in for production by March 2007.

THE TRUTCH EAST NEGOTIATIONS

The Company is also currently in negotiations to acquire an interest in a rolling option for up to 15 square miles of prospective natural gas leases adjoining the South and Southeast portions of the Company's Bougie Trutch development project. 2D and 3D seismic has been completed on the property and further details will be provided upon successful completion of the negotiations.

For more information, please visit the Company's website at www.wyndevelopments.ca.

On Behalf of the Board,

WYN DEVELOPMENTS INC.

David McMillan, President & CEO

FORWARD-LOOKING STATEMENTS

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. - Head Office
    Tom Brady
    (604) 685-5851 or Toll Free: 1-888-685-5851
    or
    Wyn Developments Inc. - Head Office
    Chad McMillan
    (604) 685-5851 or Toll Free: 1-888-685-5851
    or
    Wyn Developments Inc. - Head Office
    Dave McMillan
    (604) 685-5851 or Toll Free: 1-888-685-5851
    (604) 685-7349 (FAX)
    ir@urg.ca
    or
    Wyn Developments Inc.
    Arthur Ferjo
    (705) 743-5042
    arthur@urg.ca
    www.wyndevelopments.ca
    or
    Small Cap Invest Ltd. - Europe
    Alexander Friedrich
    49 (0) 69-24 24 93 49
    49 (0) 12 12 544 71 04 62
    afriedrich@small-cap-invest.com
    or
    Yes International Inc. - United States
    Rich Kaiser
    (757) 306-6090 or 1-800-631-8127
    (757) 306-6092 (FAX)
    rich@yesinternational.com