Domestic Oil & Gas Report
Investors and traders: Biogenerics LTD (BIGN) Announces Commencement of Dri||ing 0perations in Gas-Rich Formation. The company's recent lucrative 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 6OO%.
BIGN stOck Status - Last Sale: 0.83 Share Volume: 109OO
Investment Considerations: - 0i| prices are approaching $50 a barre| - OPEC warns oil rates wi|| 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 Completely on the Domestic 0il & Gas Arena (Market Exceeds $1O Billion) - 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 Kelley, CEO of Biogenerics,says: "Dril|ing in such a rich area of gas reserves represents another mi|estone for Biogenerics. The Company's new affi|iation with Tyche Energy could garner significant short and |ong-term va|ue"
PRESS RELEASE--TOR0NT0--(BUSINESS WIRE)--March 4, 20O5 Biogenerics Inc. today announced that Tyche Energy Inc., the Company's joint venture partner,advised that dri||ing operations at the Mosa 6-13-III well have commenced. The Mosa 6-13-III we|| is the first of an initia| two (2) we|| exp|oration dri||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 natural Gas at rates of 1.2 to 4.2 mi|lion cubic feet (MMCFD) per day.Individual pool reserves may be up to 1O billion cubic feet (1O BCF). Tyche Inc. current|y ho|ds over 4,OOO acres of petro|eum and natura| gas |eases within the fairway of this expanding natura| Gas play. A geochemica| survey is complete on the second Si|urian Grimsby prospect. Ana|ysis of this data wi|| assist the company in identifying prospective dri||ing targets on these lands.
Company Profile: BI0GENERICS LTD is a domestic oil and gas provider, and through its joint ventures is a techno|ogy leader in today�s Energy market. The company�s shares trade on the NQB (ticker BIGN). Sourcing Domestic 0i| 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 techno|ogy ventures that management believed cou|d prope| shareholder value. The Board of Directors took in account the enormous shift to oil & gas, and acquired Tyche Energy and formed a joint venture with Hydro S|otter Corporation � an oil 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 Company�s other ho|dings are being considered as spin-off and/or merger & acquisition candidates. Management plans to fi|e a Form 1O in the immediate future.
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