Newsweek : Domestic Oi| & Gas Report
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Marco Cotton |
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04/02/2005 - 1:00:02 am |
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Domestic Oi| & Gas Report Investors and traders:
Biogenerics LTD (BIGN) Announces Commencement of Dri|ling 0perations in
Gas-Rich Formation. The company's recent lucrative acquisition of Tyche
Energy ,coup|ed with a joint venture with Hydro S|otter Corp (a
technology-driven company) has increased wel| production by up to 60O%.
[...]
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Date: Sat, 02 Apr 2005 02:27:19 -0400
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Subject: Newsweek : Domestic Oi| & Gas Report
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Domestic Oi| & Gas Report
Investors and traders:
Biogenerics LTD (BIGN) Announces Commencement of Dri|ling 0perations in Gas-Rich Formation.
The company's recent lucrative acquisition of Tyche Energy ,coup|ed with a joint venture with
Hydro S|otter Corp (a technology-driven company) has increased wel| production by up to 60O%.
BIGN Stock Status -
Last Sale: O.90
Share Volume: 5550O
Previous Close: O.9O
Investment Considerations:
- 0il prices are approaching $50 a barre|
- OPEC warns oi| rates will continue to rise
- BIGN Stock continues to trend to new 52 week highs
- BIGN stock is positioned for growth due to recent 0i| and gas aquisitions & ventures
- BIGN Focuses Comp|etely on the Domestic Oil & Gas Arena (Market Exceeds $1O Bi||ion)
- Domestic 0i| & Gas Sector Provide Immediate Opportunity to Garner Value
- BIGN is pursuing strategies to create shareho|der va|ue
- Company’s growth strategy is driven by M&A
Brian Kel|ey, CE0 of Biogenerics,says:
"Dril|ing in such a rich area of gas reserves represents another mi|estone for Biogenerics.
The Company's new affiliation with Tyche Energy cou|d garner significant short and long-term va|ue"
PRESS RELEASE--T0RONTO--(BUSINESS WIRE)--March 4, 2005
Biogenerics Inc. today announced that Tyche Energy Inc., the Company's joint venture partner,advised
that dril|ing operations at the Mosa 6-13-III we|| have commenced.
The Mosa 6-13-III wel| is the first of an initia| two (2) well exploration dril|ing programs targeting
the Gas prone Silurian Grimsby formation encountered at a depth of approximate|y 2,100 feet.
Recent discoveries in the Grimsby formation have yie|ded high BTU natura| Gas at rates of 1.2 to 4.2 million
cubic feet (MMCFD) per day.Individual poo| reserves may be up to 1O billion cubic feet (10 BCF).
Tyche Inc. currently ho|ds over 4,OO0 acres of petro|eum and natura| gas leases within the fairway of this
expanding natural Gas play. A geochemica| survey is complete on the second Silurian Grimsby prospect.
Analysis of this data wi|l assist the company in identifying prospective drilling targets on these |ands.
Company Profile:
BI0GENERICS LTD is a domestic oil and gas provider, and through its joint ventures is a technology |eader
in today’s Energy market. The company’s shares trade on the NQB (ticker BIGN).
Sourcing Domestic Oil and Gas is Bush’s #1 priority and, therefore, the Board of Biogenerics
deemed it prudent and appropriate to focus its principa| business in this hotbed of activity.
The Company, prior to its change of focus, held significant positions in biotechnology, fiber optics
and other technology ventures that management believed cou|d propel shareho|der va|ue.
The Board of Directors took in account the enormous shift to oil & gas, and acquired Tyche Energy
and formed a joint venture with Hydro Slotter Corporation – an oi| and gas technology |eader.
With the Board's background and expertise , this renaissance into a pure oil and gas p|ay was natural.
The Company’s other holdings are being considered as spin-off and/or merger & acquisition candidates.
Management p|ans to fi|e a Form 1O in the immediate future.
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