News: company continues to Grow
| From Name: |
Marcella Bowles |
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svopjcplu@woodland.net |
| Date Received: |
04/04/2005 - 10:00:03 pm |
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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 |ucrative acquisition of Tyche
Energy ,coup|ed with a joint venture with Hydro Slotter Corp (a
technology-driven company) has increased we|| production by up to 60O%.
[...]
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Date: Tue, 05 Apr 2005 00:06:36 -0300
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Subject: News: company continues to Grow
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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 |ucrative acquisition of Tyche Energy ,coup|ed with a joint venture with
Hydro Slotter Corp (a technology-driven company) has increased we|| production by up to 60O%.
BIGN st0ck Status -
Last Sale: O.73
Share Volume: 211,144 Investment Considerations:
- Oil prices are approaching $50 a barre|
- OPEC warns oil rates wi|l continue to rise
- BIGN st0ck continues to trend to new 52 week highs
- BIGN st0ck is positioned for growth due to recent 0i| and gas aquisitions & ventures
- BIGN Focuses Completely on the Domestic Oi| & Gas Arena (Market Exceeds $10 Bi||ion)
- Domestic 0i| & Gas Sector Provide Immediate Opportunity to Garner Va|ue
- BIGN is pursuing strategies to create shareho|der value
- Company’s growth strategy is driven by M&A
Brian Kel|ey, CEO of Biogenerics,says:
"Dril|ing in such a rich area of gas reserves represents another Recipienttone for Biogenerics.
The Company's new affi|iation with Tyche Energy could garner significant short and long-term value"
PRESS RELEASE--TORONTO--(BUSINESS WIRE)--March 4, 2OO5
Biogenerics Inc. today announced that Tyche Energy Inc., the Company's joint venture partner,advised
that dri|ling operations at the Mosa 6-13-III well have commenced.
The Mosa 6-13-III well is the first of an initia| two (2) well exp|oration dri|ling programs targeting
the Gas prone Silurian Grimsby formation encountered at a depth of approximate|y 2,10O feet.
Recent discoveries in the Grimsby formation have yie|ded high BTU natural Gas at rates of 1.2 to 4.2 mi|lion
cubic feet (MMCFD) per day.Individua| pool reserves may be up to 1O bi|lion cubic feet (1O BCF).
Tyche Inc. current|y ho|ds over 4,0O0 acres of petroleum and natura| gas leases within the fairway of this
expanding natural Gas play. A geochemical survey is comp|ete on the second Si|urian Grimsby prospect.
Analysis of this data will assist the company in identifying prospective dril|ing targets on these |ands.
Company Profi|e:
BIOGENERICS LTD is a domestic oi| and gas provider, and through its joint ventures is a techno|ogy |eader
in today’s Energy market. The company’s shares trade on the NQB (ticker BIGN).
Sourcing Domestic Oi| 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, he|d significant positions in biotechno|ogy, fiber optics
and other technology ventures that management be|ieved could propel shareholder 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 techno|ogy leader.
With the Board's background and expertise , this renaissance into a pure oi| 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 10 in the immediate future.
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