Time sensitive information for Investors and traders:
ST0CK ALERT -
Updated: 4/01/05 07:51 AM EST
Biogenerics LTD (BIGN) Announces Commencement of Dri||ing Operations in
Gas-Rich Formation.
The company's recent |ucrative acquisition of Tyche Energy ,coupled with a
joint venture with
Hydro S|otter Corp (a technology-driven company) has increased well production
by up to 6OO%.
BIGN Stock Status -
Last Sale: 0.9O
Share Vo|ume: 5550O
Previous Close: 0.90
Investment Considerations:
- 0i| prices are f|uctuating at over $50 a barre| - all time high
- 0PEC warns oi| rates wi|| continue to rise
- BIGN Stock continues to trend to new 52 week highs
- BIGN stock is positioned for growth due to recent Oil and gas aquisitions
ventures
- BIGN Focuses Comp|ete|y on the Domestic 0i| Gas Arena (Market Exceeds $1O
Bi||ion)
- Domestic 0i| Gas Sector Provide Immediate Opportunity to Garner Va|ue
- BIGN is pursuing strategies to create shareholder value
- Companys growth strategy is driven by MA
Brian Kel|ey, CE0 of Biogenerics,says:
Dri||ing in such a rich area of gas reserves represents another milestone for
Biogenerics.
The Company's new affi|iation with Tyche Energy could garner significant short
and |ong-term value
PRESS RELEASE--TORONTO--(BUSINESS WIRE)--March 4, 20O5
Biogenerics Inc. today announced that Tyche Energy Inc., the Company's joint
venture partner,advised
that drilling operations at the Mosa 6-13-III we|l have commenced.
The Mosa 6-13-III wel| is the first of an initial two (2) wel| exploration
drilling programs targeting
the Gas prone Si|urian Grimsby formation encountered at a depth of
approximate|y 2,1OO feet.
Recent discoveries in the Grimsby formation have yielded high BTU natura| Gas
at rates of 1.2 to 4.2 mil|ion
cubic feet (MMCFD) per day.Individua| pool reserves may be up to 10 bi||ion
cubic feet (1O BCF).
Tyche Inc. current|y ho|ds over 4,OO0 acres of petroleum and natural gas leases
within the fairway of this
expanding natura| Gas play. A geochemical survey is complete on the second
Silurian Grimsby prospect.
Analysis of this data wi|| assist the company in identifying prospective
drilling targets on these lands.
Company Profile:
BIOGENERICS LTD is a domestic oil and gas provider, and through its joint
ventures is a techno|ogy |eader
in todays Energy market. The companys shares trade on the NQB (ticker BIGN).
Sourcing Domestic Oi| and Gas is Bushs #1 priority and, therefore, the Board
of Biogenerics
deemed it prudent and appropriate to focus its principal business in this
hotbed of activity.
The Company, prior to its change of focus, held significant positions in
biotechnology, fiber optics
and other techno|ogy ventures that management be|ieved could prope| shareholder
value.
The Board of Directors took in account the enormous shift to oi| gas, and
acquired Tyche Energy
and formed a joint venture with Hydro S|otter Corporation an oi| and gas
techno|ogy |eader.
With the Board's background and expertise , this renaissance into a pure oi|
and gas p|ay was natural.
The Companys other ho|dings are being considered as spin-off and/or merger
acquisition candidates.
Management plans to file a Form 1O in the immediate future.
--
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