Biogenerics Limited: Tyche Energy Finishes Construction of the Charring Cross Production Facility 4:05 p.m. 02/21/2006 Provided By PrimeZone TORONTO, Feb 21, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (the "Company") (Pink Sheets:BIGN) announces that Tyche Energy Inc. ("Tyche") advises it has completed construction of the production facilities and sales gas pipeline at its Charring Cross property located in Harwich Township, Kent County, Ontario. The production facilities process sour gas from the RPI#7 Harwich 1-1-18-IV WCR well and deliver sweet gas via a 2.1 kilometer sales gas pipeline to a meter site tied into the Union Gas Limited pipeline system. The RPI#7 well reached a stabilized flow rate of 465 MCFD during the initial production test. Production will commence at a rate of approximately 100 MCFD and will be increased gradually to a daily rate of 200 MCF. Independent industry price forecasts project the price of gas to average between CDN$11.65 and $12.67/MCF in 2006. About Biogenerics Limited Biogenerics is a diversified investment venture capital firm focused on exploiting and distributing domestic oil and gas reserves. Biogenerics also has joint venture activities with Tyche Energy, Hydroslotter Corporation and WW Energy Inc.
Posted by The Imperial Whazoo on :
Glad to see someone else interested in BIGN.
I spent almost 20 years associated in various ways with a consulting firm that repesented small oil & gas interests. There are countless Plugged & Abandoned wells out there. If BIGN actually has invented a better mouse trap, then the sky is the limit as regards the value of BIGN. I've already traded it 3 times (+161%, +22%, +11%) and I'm in it right now. I don't think this is a pump & dump. I think it is real or I wouldn't be sinking my money in it.
Now wouldn't that be ironic... sinking cash into a dry-hole of a company who purports to be able to open up old dry-hole oil & gas properties? Well, they DO ACTUALLY concern me at this time because they announced plans as regards drilling activities in the upcoming year that were pretty bodacious.... They should have announced some kind of results by now.... but they haven't. Hmmmm?!?!?!? Panic time? Not yet, but watching with my finger on a hair trigger sell.