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BIGN Biogenerics Limited Announces 2nd Grimes Well is Online PrimeZone Media Network - May 8, 2006 4:05 PM (EDT)
By Staff
TYLER, Texas, May 8, 2006 (PRIMEZONE via COMTEX) -- Biogenerics, Limited (Pink Sheets:BIGN) is pleased to announce that Ophelia 1 is the second of four gas wells to go online from its Grimes property in California. After its initial serge, production reports indicate that, after three weeks in operation, current flow rates for Ophelia 1 have stabilized at 1,450 mcfd.
Ophelia 1's initial yields represent a significant success for Biogenerics and their strategic alliance partner, Hydroslotter Corporation, in returning the Grimes region productive prominence. Numerous wells in the Grimes region were shut in nearly two decades ago with production from Ophelia 1 ceasing in 1989.
Biogenerics Limited is also pleased to announce that Mr. James Lancaster of Tyler, Texas has joined the board as Director and CEO. Mr. Lancaster brings 30 years of experience in various business ventures, primarily oil and gas.
"I have always been excited at the potentials of the Hydroslotting technology," stated the newly appointed CEO of Biogenerics Limited, "However, without the rigorous effort put forth by our excellent staff of professionals, it would have been extremely difficult to get Ophelia 1 online in such a stringent timeframe. On an additional note, we are also looking forward to getting the two remaining wells in the Grimes gathering system online in the very near future."
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
About Hydroslotter Corporation:
Hydroslotter Corporation's proprietary technology deemed "hydroslotting", increases oil and gas production and extends commercial productivity of oil and gas by 300% to 600%. Hydroslotter's technology is cost effective and for the inexpensive cost of the actual re-work on potential shut-in wells, the return on investment is high.
quote:Originally posted by MB: This one is gonna run tomorrow.
I second that motion - just got done looking it over - this one is definitely going to move - Great news, new CEO and an upcomming divy to boot. I'm in!!!
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I really have enjoyed you picks Juice,, I have tried to get ahead of this game and without some of your picks I would still be a loser-I'm in like flynn--thanks for helping me make money
-------------------- GOOD LUCK TO ALL
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quote:Originally posted by pennydude: I really have enjoyed you picks Juice,, I have tried to get ahead of this game and without some of your picks I would still be a loser-I'm in like flynn--thanks for helping me make money
Thanks a lot I appreciate the kind words hopefully this will be the next "good" one. Check out SNIO great close sub-penny but not for long. IMO
-------------------- The difference between genius and stupidity is that genius has its limits
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Biogenerics Expands on Earnings Forecast for 2006 Friday October 14, 2005 11:29 am ET
NEW YORK, Oct. 14, 2005 (PRIMEZONE) -- Biogenerics Limited (Other OTC:BIGN.PK - News), with its joint venture partner Hydroslotter Corporation, are forecasting a minimum 120 wells to be slotted in 2006. ADVERTISEMENT
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.
-------------------- The difference between genius and stupidity is that genius has its limits
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With an O/S of 303M I think this still has a way's to go. It's an Oil & Gas play with revenues. This one looks very good. In fact better and better the more I look at it. I'll get in if I can sell a couple of positions tommorrow. This news is on only the second of 4 wells they are working over on this property. There's a lot more than meets the eye here. I LIKE.
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This one has hit resistance at .03 and dropped back down to the teens many times in a row now. If this can break through .03 it's going to rock and roll. Maybe this PR is enough to do it.
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I like it ,But my only concern is it takes 10 million to move it .006 Is this pr. big enough to make it fly? I don't think so because there is no figures , meaning profit! Will it go up? prob.But it really needs tons of volume! plus the last 2 days some folks have been buying alot my guess they knew of the pr. So will they sell into the run???? I don't know! If you go in good luck! I will watch instead!
-------------------- Trading is a blast!!
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I'm in. MMs don't have many shares at all, plus its an Oil/Gas play. Every few buys eats through what the MMs have on the L2s.
-------------------- Before you criticize someone, try walking a mile in their shoes, then when you do, you'll be a mile away and have their shoes.
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