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[QUOTE]Originally posted by GVMOORE: [QB] Oil is back. BIGN Yahoo! My Yahoo! Mail Make Yahoo! your home page Sign In New User?Sign Up Finance Home - Help HomeInvestingNews & CommentaryRetirement & PlanningBanking & CreditLoansTaxesSpecial EditionsColumnistsPersonal FinanceInvesting IdeasMarketsCompany FinancesProvidersGet QuotesSymbol LookupFinance Search Press Release Source: Biogenerics Limited Biogenerics Limited Announces WW Oil & Gas Signs Letter of Intent to Acquire Significant Oil and Gas Assets Thursday June 1, 8:30 am ET TYLER, Texas, June 1, 2006 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) announced today that its 50% owned subsidiary, WW Oil and Gas, has authorized management to issue a Letter of Intent (LOI) for the purchase of 1,000 acres of oil/gas lease land. The lease land will include 48 producing gas wells generating 1,200 mcf/day of gas averaging 25 bbls/oil per day in condensate quality. The transaction includes a 35-mile pipeline with all right-of-ways which connects to a major trunk line for the sale of the operation's daily gas production. The pipeline is also used to collect, on a fee basis, gas from six other producing gas fields in the area. James Lancaster, Biogenerics' CEO stated, ``The monthly revenue stream is estimated to be over $270,000 per month from this property. Upon completion, the deal will provide the personnel to manage, drill and rework the other well sites on these properties which will in turn maximize the production revenue of future explorations projects.'' Website: http:/http://www.bignltd.com 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 and Hydroslotter Corporation. [/QB][/QUOTE]
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