Using dynamic sql inside Oracle stored procedure Assuming I have the following procedure

CREATE PROCEDURE foo (table1_id IN TABLE1.table1_id%type, 
                     table1_val IN TABLE1.table1_value%type) 
AS 
  SQL_UPDATE VARCHAR2(500) := 'UPDATE TABLE1 SET table1_value =:1 WHERE table1_id = :2';
BEGIN
  --.....
  --1 : 
    EXECUTE IMMEDIATE SQL_UPDATE USING foo.table1_val, foo.table1_id;
  --2 : 
    UPDATE TABLE1 SET table1_value = foo.table1_val WHERE table1_id = foo.table1_id;

END;


Beside the style/readability, is it any performance penalty for using dynamic query (1) compared to (2)  in such cases (I mean when it's absolutely avoidable) ? 

Thank you.
The only reason why I might do that is if I needed to address an object that might not exist at compile time -- for example if I had code to create new external tables as required.

As this implies, the dynamic SQL statement is not parsed when the PL/SQL compiles, so you have no idea whether it is correct or not, and dependencies are not stored in the database.