-------------------- Sometimes the poorest man leaves his children the richest inheritance. Posts: 804 | From: Woodbridge, Va | Registered: Aug 2005
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From the 2005 annual and the Q3/05 quarterly reports filed on pinksheets.com.
Income for the full year was $316,124 and for the 9 months ending Q3 was $178,573. Therefore Q4/05 income was $137,551.
Net Income for the full year was $(237,580) and for the 9 months ending Q3 was $(254,301). This means there was an overall decrease in losses for Q4/05, therefore Q4/05 Net Income was $16,721.
The Grimes #1 well coming online in September made BIGN profitable for the first time in Q4/05! Every new well from here on will add directly to the profits! I can't wait to hear the news on Grimes #2 which should be any day which will be followed by Grimes #3, #4...
Posts: 187 | Registered: Feb 2004
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posted
Looking good, just needs a little more volume and it can explode. Just look at the chart, all indicators are great, and it is due for a run. Followed with great news it had.
Posts: 187 | Registered: Feb 2004
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posted
Biogenerics New CEO Updates on Grimes Project and Future Plans Thursday May 18, 2:02 pm ET
TYLER, Texas, May 18, 2006 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News) announced that newly appointed CEO James Lancaster has submitted a recent assessment of the company's progress with Hydroslotter Corp. in the Grimes and some of his visions for the company's future.
As reported earlier, joint venture partner Hydroslotter has completed slotting on a second well, Ophelia 1, with current flow rates of 1450 mcfd. Hydroslotter encountered significant delays due to excessive weather conditions in the Grimes region. Biogenerics is pleased to say that these conditions have cleared and complications have been resolved. The company is now continuing with two other wells.
Management has been informed that the two wells slated to be worked on should yield close to the same flow rates as Ophelia 1. On average these wells have a flow expectancy of approximately 10-15 years. It is expected that these wells will be completed in a 2-3 week period. Biogenerics has targeted several other potentially lucrative wells in the Grimes region to be slotted in the near future.
As the company's head office is now fully operational, it is considering the possibility of changing the company name to better reflect the market it is focusing on. ``We appreciate the name submissions from our shareholders and we will make a decision soon. It is my goal to continue to pursue economically sound acquisitions in the oil and gas sectors and to ensure that these projects are completed in a timely manner. I am thrilled to join the company at such an exciting time and I will endeavor to provide firm leadership doing my best to keep our shareholders up to date regarding company progress,'' stated Lancaster.
About Biogenerics Limited:
Biogenerics is a diversified investment venture capital firm focused on exploiting and distributing domestic oil and gas reserves. Biogenerics has oil and gas assets acquired from Rubicon Petroleum. The company also has joint venture activities with Tyche Energy and Hydroslotter Corporation.
-------------------- It is always darkest before it goes completely BLACK!!! Posts: 2322 | From: FL | Registered: Aug 2004
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-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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