Can a dynamic circuit extract all energy from an ultra capacitor?
[...] to allow all the energy in the Ultra Capacitor to be utilised [...]


No. The closest that you can get, to that, is by using a synchronous boost converter (if your cap voltage is always lower than your target output voltage), or a synchronous buck/boost converter (if your cap voltage may be above and below the target output voltage).

A synchronous converter uses only controlled switches, instead of controlled switches plus diodes. The benefit is reduced losses, because the main current does not cause a (relatively big) voltage drop across any diode. Only across Rds_on of the controlled switches, which may be in the milliohm range, and will cause much lower voltage drops (and therefore power losses).

As Vin approaches zero, Iin will have to grow substantially, so as to keep Vin·Iin above Pout (which usually you will want to keep constant). Those high input currents will eventually cause that your Vin voltage will just drop across the first devices of your converter. So, below a certain threshold for Vin, you will not be able to deliver any more power to the output. The converter will still drain your cap, but that energy will serve no purpose any more, at the output.