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Biogenerics Expands on Earnings Forecast for 2006
October 14, 2005 11:29:25 (ET)
NEW YORK, Oct 14, 2005 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN), with its joint venture partner Hydroslotter Corporation, are forecasting a minimum 120 wells to be slotted in 2006.
The cost of slotting these projected wells weighs in at approximately US$200,000 per well. With economies of scale, we can reduce those costs. Given that the estimated slotting cost is returned in 30 days, the cash flow outlay to grow is minimal.
For example: The current Grimes, Calif. well, now in production, is forecasted to have a life of 5-10 years. Four additional wells are being slotted in conjunction with the Grimes, each at 5-10 years. The costs and time to slot four wells is 10 to 14 days and will have a 25% reduction in outsourced service charges.
We expect each of our five wells to be tied into the same meter site and expect combined flow at 2,500,000 MCF.
The projected cash flow will cover expenses in 30 days. We then receive net 40% of the flow after costs are repaid. That would register at US$10,000 per day.
Upon each of the forecasted 120 wells in full production, in conjunction with alternate wells coming on stream in 2005, we will have a daily cash flow of US$240,000. Ultimately, these wells will produce US$87,600,000 annually.
For the reason that we are not slotting all available wells, in week one after costs, we expect US$43,200,000.00 in profits for 2006 from the Hydroslotted wells.
Our strategy suggests 10 new wells per month in 2006. In 2007 we expect to double that to 20 wells per month.
Bearing in mind that when dealing with the oil and gas sector, delays may occur, prices may fluctuate, and thereby management accounted for the risk factor discounting the guidance by a factor of 35%.
Biogenerics does not forecast earnings from the New Mexico joint venture in this forecast because it is currently unquantifiable.
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Biogenerics Announces Financing Plan for the Hydroslotter Roll Out
October 18, 2005 10:34:06 (ET)
TORONTO, Oct 18, 2005 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN): The company is pleased to announce that it has secured an agreement with an institutional investor Royal Petroleum. Royal Petroleum purchases and finances producing oil and gas wells. Biogenerics has financing in place for hydroslotting at 8.5% interest as needed and secured by our current production.
Biogenerics plans to primarily fund the hydroslotting expansion with its current cashflow. This is possible since the costs for slotting are returned in an average of 45 days from production. Having Royal Petroleum behind us eliminates the need for any financings which may cause dilution of equity.
Biogenerics' Paul Smith states that, "This hydroslotter joint venture is offering perhaps the most capital efficient way to create aggressive economic returns without exploration risk. Now that we have the ability to draw down the capital required we can aggressively move forward."
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Biogenerics Announces New Corporate Communications Department Wednesday October 26, 10:30 am ET
TORONTO, Oct. 26, 2005 (PRIMEZONE) -- Biogenerics, Ltd. (Other OTC:BIGN.PK - News), a diversified investment holding company focused on the exploitation and distribution of United States oil and gas reserves, is pleased to announce the establishment of a corporate communications department beginning November 1, 2005. The corporate communications department will be responsible for all of Biogenerics' investor relations activities as well as for responding to inquiries regarding its hydroslotting technology.
``We are excited about the establishment of our new corporate communications department,'' commented Paul Smith, Senior Vice President of Biogenerics, Ltd. ``We believe the new corporate communications department will further facilitate the timely and accurate delivery of exciting information to our loyal shareholder base, the investment community, industry experts, and potential strategic alliance partners.''
Contact information for Biogenerics' corporate communications department is (905) 714-9422.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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With winter coming and more wells soon to come online we should see a rise in share price soon and more news around that.
Posts: 39 | From: Massachusetts | Registered: Oct 2005
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I don't think it's too late to buy into this stock as long as it's a long term play. In the short term anything can happen.
Posts: 798 | Registered: Jun 2004
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Biogenerics Announces Charring Cross Natural Gas Project Update
November 14, 2005 10:30:18 (ET)
TORONTO, Nov 14, 2005 (PRIMEZONE via COMTEX) -- Biogenerics, Ltd. (the "Company") (Pink Sheets:BIGN) announced today that Tyche Energy, Inc. ("Tyche"), one of its joint venture partners, has advised the Company that fabrication of sour gas treatment equipment scheduled for installation at its Charring Cross Natural Gas project has been completed. The treatment skid will now be shipped from the supplier's plant in Elk City, Oklahoma to the Harwich 1-1-18-IV WCR well site located in Harwich Township, Kent County, Ontario.
Once installation has been completed, the treatment facility will deliver sweet gas to a custody transfer meter via a 2.6 kilometer pipeline that will tie into a local Union Gas Limited distribution line. The Harwich 1-1-18-IV WCR well flowed gas at a stabilized rate of 465 MCF per day (MCFD) during a production test and is expected to commence production into the sales line at an initial rate of 200 MCFD. Tyche expects to complete construction of the subject pipeline and facility in December 2005, with production revenue commencing in January 2006. Ontario natural gas producers are currently receiving wellhead prices of $10.32 per MCF (1MCF=1,000 cubic feet of gas).
Tyche owns a 70% working interest in the Charring Cross project before payout of facilities and tie-in costs and a 52.5% working interest after payout of such costs.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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Biogenerics Forms Client Management Division to Coordinate Oil and Gas JV Opportunities
December 07, 2005 16:42:24 (ET)
TORONTO, Dec 7, 2005 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) today announced plans for the development of a new Client Management division to coordinate and manage joint venture oil and gas opportunities for both non-affiliated energy companies and third party land owners.
Recent success and news regarding the Company's highly effective Hydroslotter recovery enhancement technology, which can improve production rates from 300% to 600%, has prompted a high level of interest from numerous third party oil and gas asset holders interested in teaming up with Biogenerics Limited to launch new petroleum exploitation projects.
Biogenerics Executive VP, Paul Smith, stated, "We have literally been inundated with requests for information from parties in control of oil and gas properties having either capped, abandoned or shut in wells that could be brought back online to commercial production with our Hydroslotter enhancement technology. With so many new opportunities to review, the establishment of a Client Management division is now a must to properly evaluate and determine which projects we will be moving forward with, and most importantly, which can add the most value to Biogenerics. We look forward to reporting on a number of new joint venture projects in the near future as that news becomes available to release."
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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Murnak..In case you didn't know we have a BIGN board on Raging Bull and IHUB
Posts: 39 | From: Massachusetts | Registered: Oct 2005
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Biogenerics Ltd. Announces Spin-Off of Tyche Energy Division and Stock Gift Friday December 9, 4:31 pm ET
TORONTO, Dec. 9, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) and Tyche Energy, Inc., jointly announced today their plans to spin-off Biogenerics' subsidiary company, Tyche Energy, Inc.
In a special meeting held today, the board of directors of Biogenerics unanimously passed a resolution to issue and gift up to 10% of the outstanding common shares of Tyche to shareholders of Biogenerics Limited.
Biogenerics shareholders of record as of the close of business on Tuesday, December 20, 2005 will qualify for the pro rata gift of Tyche Energy shares. Biogenerics' board of directors plan to hold a subsequent meeting to finalize the gift date, and confirm the number of shares to be gifted per each share of Biogenerics stock held as of the record date.
Tyche Energy, which Biogenerics currently holds an ownership position of 37.5%, is a London, Ontario based oil and gas P & E company operating exploration projects in and around the Appalachian Basin of Ontario, Canada. Tyche Energy is developing its nearly 20,000 acre portfolio of varying working interest property rights in conjunction with several partner companies including Veteran Resources, Inc., and Talisman Energy, Inc., (TLM) presently an $18.5 billion market cap company trading on the New York Stock Exchange.
In addition to its present and scheduled exploration projects, Tyche Energy recently signed a Memorandum of Understanding (MOU) with Productive Geoscience to add a state-of-the-art seismic petroleum resource detection technology named N2Vision to its service portfolio.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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Biogenerics Provides Business Summary of Tyche Energy Spin-Off Tuesday December 13, 4:05 pm ET
TORONTO, Dec. 13, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) announced today a more detailed summary of the current business plus oil and gas leasehold interest base of Tyche Energy, Inc., a subsidiary division the Company recently announced plans to spin-off, resulting in up to 10% of Tyche Energy's shares being gifted on a pro rata basis to Biogenerics shareholders.
In a special directors meeting held last Friday, Biogenerics' board unanimously passed a resolution to gift up to 10% of the outstanding common shares of Tyche Energy to Biogenerics shareholders of record as of the close of business, December 20, 2005.
Biogenerics currently holds an ownership stake of 37.5% in the London, Ontario-based junior oil and gas exploration company, and Biogenerics management will continue to comprise a portion of Tyche Energy's board of directors. In an effort to better educate the marketplace on Tyche Energy's current business and petroleum leasehold interest base, Biogenerics management team is making available the following business summary of Tyche Energy and its management team.
About Tyche Energy, Inc.
Tyche Energy operates exploration projects through joint ventures in the Appalachian Basin and owns interests in a number of petroleum and natural gas leases in Elgin, Middlesex, Lambton, Kent, and Essex Counties, Ontario. In addition to its main operating focus, the Company is actively exploring projects in the Appalachian and Michigan Basins.
Tyche Energy's strategy is to grow through exploration and development of oil and gas reserves in its core area and through the acquisition of under exploited properties, reserves and companies that will complement its growth objectives. Tyche Energy's primary long-term goals are to develop a high-level of sustainable production which can be directly marketed to the expanding Eastern North American market and resulting in a high-degree of profitability and cash flow.
Development Projects
Substantially all of Tyche Energy's exploration, development and production activities are conducted jointly with JV oil and gas operators. The following summary provides information regarding the areas in which Tyche Energy operates pursuant to such agreements;
Sombra 7-6-VI Agreement: Tyche Energy holds a 38.48% working interest in 100 acres located in the West Becher prospect area of Sombra Township, Lambton County. The project is operated by Kinderhook Resources, Inc.
West Becher Agreement: Tyche Energy holds a 48.97% working interest in 1,117 acres of certain undeveloped lands in the West Becher prospect area in Sombra Township, Lambton County. The project is operated by Tyche Energy, Inc.
Romney Lake Erie Agreement: Tyche Energy holds a 0.195% gross overriding royalty interest in 1,550 acres located on Lake Erie in Romney Township, Kent County. The project is operated by Talisman Energy, Inc.
Mosa Joint Operating Agreement: Tyche Energy holds a 66.67% working interest in 2,230 acres of certain undeveloped lands located in Mosa Township, Middlesex County. The project is operated by Tyche Energy, Inc. The remaining working interest in the Mosa lands is held by Torque Energy Inc. (TSX).
Dunwich Joint Operating Agreement: Tyche Energy holds a 66.67% working interest in 5,960 acres of certain undeveloped lands located in Dunwich Township, Elgin County. The project is operated by Tyche Energy, Inc. The remaining working interest in the Mosa lands is held by Torque Energy (TSX).
Charring Cross Agreement: Tyche Energy holds a 100% working interest BPO and a 75% working interest APO in 178 acres on certain lands located in Harwich Township, Kent County. The project is operated by Tyche Energy, Inc. The remaining working interest in the Harwich lands is held by Wellhead Workers Inc.
Kent Lake Erie Agreement: Tyche Energy holds a 50.00% working interest in 5,900 acres of certain exploration licenses and leases located in the Romney Lake Erie and Clearville Lake Erie prospect areas in Romney and Orford Township, Kent County. The project is operated by Veteran Resources Inc.
Caribou Sikanni Agreement: Tyche Energy holds a 10.00% working interest in 2,560 acres of certain exploration licenses located in the Caribou Sikanni area of northeastern BC. The project is operated by Veteran Resources, Inc.
Management Team
Mr. Rowe, Chairman and Chief Executive Officer, is an experienced oil and gas executive with over 25 years of industry experience. He was a founder and President of E. P. Rowe Oil Limited, a private Ontario-based oil and gas company credited with discovering the Dover 7-5-V East Pool in 1983. From 1983 to 1986, Mr. Rowe served as Vice President of Exploration for Paladin Petroleum Corporation, a public Ontario oil and gas company. In 1986, E. P. Rowe Oil Limited merged with Paladin Petroleum Corporation to form PPC Oil & Gas Corp. (``PPC'') and was listed on the TSE. Mr. Rowe served as President and CEO of PPC from 1987 to 1990. In 1991, PPC merged with Paragon Petroleum Corporation. Mr. Rowe served as Vice President of Eastern Operations for Paragon from 1991 to November 1994. Mr. Rowe is a former President of the Ontario Petroleum Institute (the ``Institute'') and is currently a Director and Chairman of the Forward Planning Committee of the Institute.
Jean Claude Bonhomme, Executive Vice President. Mr. Bonhomme is an experienced oil and gas executive having over 25 years' experience in the Ontario oil and gas industry. He was the founder and President of Tipperary Resources Ltd. an independent oil and gas producer and predecessor of Paladin Petroleum Corporation. Paladin Petroleum Corporation, which was formed in 1983, amalgamated with several public and private oil and gas companies to form PPC Oil & Gas Corporation. Mr. Bonhomme served as President of PPC until 1987. Mr. Bonhomme has been involved in numerous public companies since 1987 including Explorers Alliance Inc. and is currently President, Bonclau Holdings Inc.
Mr. Ian Colquhoun, PhD. Vice President of Exploration is an exploration Geologist with over 10 years of expertise in the Ontario oil and gas industry. Mr. Colquhoun received his BSc. and MSc. in geology from Brock University where he published theses on the Trenton Group carbonates of southwestern Ontario. Mr. Colquhoun is also the author of several confidential reports on the Alberta oil sands pursuant to agreements between AOSTRA, the University of Western Ontario, Imperial Resources Ltd. and Amoco Petroleum Ltd. He began his career in Ontario with Pembina Resources in 1995 and has been employed as a consultant by several large and intermediate exploration companies in Ontario, including Resource Professionals Inc., Icon Petroleum Inc., Daybreak Energy Corporation, Cobra Oil & Gas Corp., and Rowe Energy Corporation. Most recently Mr. Colquhoun served as Exploration Manager -- Ontario for Veteran Resources Inc. (Calgary Alberta). Mr. Colquhoun is a member of the Association of Professional Geoscientists of Ontario (``APGO''), the American Association of Petroleum Geologists, and the Ontario Petroleum Institute.
Management Objectives Going Forward
Tyche Energy has built a solid operating base with its producing properties in Kent and Lambton County. Cash flow from production when combined with other financing activities is expected to provide the capital to maximize Tyche Energy's un-developed land potential and to explore other high-return opportunities in Elgin, Middlesex, Lambton, Kent and Essex Counties.
Tyche Energy plans to participate in the drilling of up to 10 exploration and development wells in 2005 - 2006. Exploration targets will include both Silurian and Ordovician age reservoirs having the potential to add both oil and natural gas production and reserves. Tyche Energy also plans to expand its current lease inventory on exploration prospects within its core areas utilizing management's technical expertise and its significant inventory of geological and geophysical data. In addition, management plans to acquire additional seismic and geophysical exploration programs to support further exploration and development drilling targets.
Tyche Energy's management team has reviewed several acquisition opportunities and will continue to pursue both property and corporate acquisition opportunities to add reserves and shareholder value over the coming months.
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.
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Tyche Energy Inc. Share Dividends to be Paid
January 20, 2006 12:01:53 (ET)
TORONTO, Jan 20, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) announced today it plans for their shareholders to be paid 1 (one) Tyche Energy Inc. restricted share for every 30 (thirty) Biogenerics Ltd. shares held. Shares are payable March 24, 2006 to shareholders on record December 20, 2005.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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Something's up. Up 40 percent today with no news.
-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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-------------------- "Whether you think that you can, or that you can't, you are usually right." - Henry Ford Posts: 798 | Registered: Jun 2004
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