Biogenerics Issues Correction to Cubic Feet Per Day on Recently Reported Results on Target Well in Northern California; Initial Production at 800 Thousand Cubic Feet Per Day versus Previously Reported 800 Million Cubic Feet Per Day With Gas at $7 Per Cubic Thousand Feet Production Could Generate $5,600 in Gross Revenue Per Day or $2,044,000 Per Year
TORONTO, Jul 07, 2005 (BUSINESS WIRE) -- Biogenerics Limited [BIGN] , today announced that is partner, Hydroslotter Corporation reported that several open flow tests on its target well in Northern California have determined conclusively that initial production will exceed 800 thousand cubic feet per day (MCFD). With gas prices at approximately U.S. $7 per cubic thousand feet, the initial production would garner gross revenues in excess of $5,600 per day or $2,044,000 per year.
Looking Forward Statements:
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