posted
Biogenerics Limited Reports on Progress in Grimes, California Project >TYLER, Texas, June 5, 2006 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) announced information regarding recent developments in the Grimes, California Project. The Company is pleased to report that wells known as Andreotti 1 and Ophelia 1 continue to produce as reported in recent news. Andreotti at 250,000 cubic feet of gas daily. Management also confirms that it has coordinated agreements with subcontractors continuing work on wells 3 and then 4 on the same location site.
Officials report that inclement weather conditions resulting in excessive water flooding have posed some problems consequently delaying the work over of these wells. Ophelia 1 experienced a mechanical glitch that resulted in intermitting flow rates but will be corrected this week. Once corrected Ophelia 1 will return to its flow rate of 1450 mcf. Ophelia will produce this flow rate on an average of 20-25 days per month allowing for maintenance of the continued water build up.
The water build up in the wells, if left unattended, inhibit some gas flow. Though timely, it is well worth continued efforts to maintain the wells considering their profitibilty.
The company continues negotiations with Oil & Gas Companies in hopes to acquire the equipment that will expedite our endeavors. Information regarding the dealings will be released as soon as they become available.
A Biogenerics senior consultant overseeing the developments noted the demand and availability for work over equipment in this heightening market has created some delays. However he is confident that we will accomplish the task at hand. The preliminary tests give indication that the two wells being worked on are expected to potentially produce the flow rates that are being averaged daily by Ophelia 1.
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.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are forward-looking statements are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties, or other factors which may cause actual results, performance, or achievements of the company to be materially different from any future results, performance, or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels. All information in this release is as of the date of this release. The company undertakes no duty to update any forward-looking statement to conform the statement to actual results or changes in the company's expectations.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Come and listen to a story about a man named Jed A poor mountaineer, barely kept his family fed, Then one day he was shootin at some food, And up through the ground came a bubblin' crude.
Oil that is, black gold, Texas tea.
Well the first thing you know ol' Jed's a millionaire......
posted
looks like a lot of accumulation again today. not a lot of sells at all. although I would like a green day, accumulation is still good!
Posts: 2741 | From: Seattle | Registered: Feb 2005
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posted
Lots of accumulation. Smart money holding. Bubblin crude has no where to go but up. Aint that write Granny. GLTA
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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Lots of news still ready to come out. All we need is equipment to get started doing the wells full time. Then we are off to the races.
Posts: 660 | From: Kansas | Registered: Mar 2005
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posted
Haven't sold any either I just buy on the dips. There are very few holds in the pennies but this is one of them. IMO
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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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.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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What a positive day for BIGN. A close tomorrow at or above $0.041 would settle all of my worries. Also a volume of at least one share above today would be great. Did you notice the nice bottom in volume to go with the shareprice bottom. Very solid support here. Looks to me like someone physically tried to set a lower low just to throw off the chart. As soon as those $0.035 sells hit they were gobbled up. Only a brief 10 minute stay in that area. Poor attempt to scare people off. I bet they are wishing they saved that powder for the end of the day. LOL.
IMO we will float around $0.04 until the next PR about Grimes or New Mexico. I beleive those will come before the closing of an LOI in that that kind of business takes much more time. I'm still kicking myself for not buying more when I first got in ($0.017 and then at $0.031). I've only got a little powder left and I'm saving it for a rainy day. I heard some folks talk about low 3's and maybe even the 2's so I wanted to be armed for that. I highly doubt we will ever see 2's again now. Who knows we might not even see many 3's going through from here on out.
Every single person I have told so far about this one has done their DD and ended up grabbing a starter position. Not sure if all are still accumulating but that alone speaks volumes for the quality of this company and its current position. In an UP market we would be closer to $0.10 right now, IMO. It's just crazy if you compare the charts for the NASDAQ since late April with BIGN. If not for that we would be settling at the $0.06 level right now.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
bellwetherreport.com: The Bellwether Report Issues an Update on Biogenerics, Limited
M2 Communications via COMTEX
Jun 7, 2006 12:24:50 PM
Jun 07, 2006 (M2 PRESSWIRE via COMTEX News Network) --
Biogenerics, Limited (OTCPK:BIGN), is a company that our research team will be tracking over the ensuing weeks. They recently came out with a significant corporate development, causing a market stir. The BWR Research Team will continue to bring its subscriber's cutting edge research tools, and second to none customer service.
Biogenerics, Limited a diversified investment venture capital firm focused on exploiting and distributing domestic oil and gas reserves, last week announced 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."
Then a couple of days ago, the Company was pleased to report that wells known as Andreotti 1 and Ophelia 1 continue to produce as reported in recent news. Andreotti at 250,000 cubic feet of gas daily. Management also confirms that it has coordinated agreements with subcontractors continuing work on wells 3 and then 4 on the same location site.
Officials report that inclement weather conditions resulting in excessive water flooding have posed some problems consequently delaying the work over of these wells. Ophelia 1 experienced a mechanical glitch that resulted in intermitting flow rates but will be corrected this week. Once corrected Ophelia 1 will return to its flow rate of 1450 mcf. Ophelia will produce this flow rate on an average of 20-25 days per month allowing for maintenance of the continued water build up.
The water build up in the wells, if left unattended, inhibit some gas flow. Though timely, it is well worth continued efforts to maintain the wells considering their profitibilty.
The company continues negotiations with Oil & Gas Companies in hopes to acquire the equipment that will expedite our endeavors. Information regarding the dealings will be released as soon as they become available.
Biogenerics continues to trade on extremely high volume, as investor's sentiment seems to have changed. Biogenerics looks like a great opportunity currently trading at $0.039, as their staff works hard in hopes of a brighter future. This company is recently suffered some profit taking causing shares to drop significantly to as low as $0.035. I feel that we should see a turn around in the near future.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Holding all my shares.Would have been a nice flip at 7 and back in at .035 but don't want to be left in the smoke when do blast off. May be fall before the sector really heats up. Should see some nice gains before then. Looking at DKGR they plan to buy an oil service co. GLTA
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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posted
BIGN - BIOGENERICS LTD (OTC) Date Open High Low Last Change Volume % Change 06/08/06 0.0410 0.0420 0.0380 0.0400 unch 2809600 unch%
Composite Indicator Trend Spotter TM Buy
Short Term Indicators 7 Day Average Directional Indicator Sell 10 - 8 Day Moving Average Hilo Channel Sell 20 Day Moving Average vs Price Buy 20 - 50 Day MACD Oscillator Buy 20 Day Bollinger Bands Hold
Short Term Indicators Average: - Hold 20-Day Average Volume - 10192560
Medium Term Indicators 40 Day Commodity Channel Index Hold 50 Day Moving Average vs Price Buy 20 - 100 Day MACD Oscillator Buy 50 Day Parabolic Time/Price Buy
Medium Term Indicators Average: 75% - Buy 50-Day Average Volume - 6206868
Long Term Indicators 60 Day Commodity Channel Index Buy 100 Day Moving Average vs Price Buy 50 - 100 Day MACD Oscillator Buy
Long Term Indicators Average: 100% - Buy 100-Day Average Volume - 4247081
Overall Average: 56% - Buy
Price Support Pivot Point Resistance
0.0400 0.0360 0.0400 0.0440
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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told you guys it was justiss oil company they are buying. Very obvious. It all fits perfectly, employees, wells, location etc. Don't expect all these LOI's to happen. If one of the three happen I'd be happy. The oil company buy is the one I want to see because of the rigs. After this company completes this aqusiition, we are a drilling operator / interest operator. We should command a 300 million market cap just on that profile alone. That's $1 per share. Then add the revenue, growth and future aquisitions. $10 is not a dream here.
Justiss Oil Company, Inc. is a privately owned, family operated drilling, exploration, production and well servicing company. Founded in 1946 by pioneer oilman J.F. "Jick" Justiss, and propelled by his son, James Justiss, Jr., the company grew from a small locally oriented drilling company to one of the top five independently owned drilling contractors in the United States .
Also under the Justiss umbrella are two manufacturing divisions doing business in the international market, Baker Tank Company and Altech located in Arp , Texas . Baker Tank Company specializes in the design, fabrication and field erection of petroleum storage tanks and oil field production equipment. Altech, an aluminum technology division, designs, manufactures and installs aluminum geodesic domes and seals for floating roofs used not only in the petroleum industry, but also as covers for water storage and waste treatment facilities.
Alliance Drilling Consultants provide experienced planning and onsite personnel for all phases of the drilling and completion of oil and gas wells.
J.F. "Jick" Justiss
Founder of Justiss Oil Company
Philosophy
Justiss Oil Company's growth through the years is indicative of the strength, stability, and integrity on which customers have been able to depend for more than 50 years. Justiss management believes that securing top quality personnel and equipment is essential in excelling as an industry leader. Today's Justiss reflects the attributes of determination and enthusiasm set down in the beginning by Jick Justiss and those whose dedication helped contribute to the Justiss success story. Company management continues to embrace those same attributes and Justiss' long established policy of providing customers with quality service at a competative price. Also, the safety of Justiss Employees and contract personnel visiting Justiss work locations is of utmost importance to the company. Our safety record is reflective of the company's placement of safety as top priority.
Operations
Justiss Oil Company, Inc. operates three drilling rigs and twenty-two workover rigs in the Southeastern U.S. In addition to Justiss' fleet of workover and well servicing rigs, the company provides ancillary equipment such as vacuum trucks, tanks and roustabout services. Justiss' main workover tools yard is located in Jena , Louisiana with a secondary field office / yard located in Northport , Alabama [b]. The company also offers Warehouse Services to customers, where expert personnel provide full fabrication and maintenance of oilfield equipment at JOC shop facilities in Jena , Louisiana . Justiss Oil Company owns interest in 110 producing wells in the Southeastern U.S.
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Seems this company has no problem with companies jumping into bed with them. Makes sense if I had a well that would someday run dry I'd want to be in business with someone who would be able to extend its life by more than a decade.
Posts: 90 | From: NJ | Registered: May 2006
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posted
Would be nice if Justiss Oil (JSTS) were the Co they are buying trading at 150.00 PPs
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Looked over your stuff J_U_ICE if it does pan out hold on to your shares this thing should pop!
Posts: 90 | From: NJ | Registered: May 2006
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posted
I'm not going anywhere I only flip stocks I don't have faith in
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Remember the LOI aren't done deals yet once they are and reporting progress this is going to takeoff. IMO
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
I'm not cringing anymore looking at the scorecard here. On the bright side maybe we got rid of some of the swing vote.
Posts: 90 | From: NJ | Registered: May 2006
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financing for the LOI's will be via private placements of Tyche at set prices, along with preferred shares, and/or convertible debentures of Tyche. The merger will happen. The question is when BIGN reverse merges with Tyche how much room is left to dilute the O/S ? They may be doing this because BIGN has ONLY 80M shares available before they hit the A/S limit and they know shareholders will rebel with a reverse split shareholder approval. 80M shares at .03 is what a measely 2.4M bucks not close to what they need for all these deals to close. So they reverse merge with Tyche effectively a reverse split of BIGN. This event should be moot providing Tyche does not have 200-300 million shares left in the A/S to issue after all the new shares are paid to current BIGN holders and debt holders. Very obvious how these LOI's are going to be funded and I just hope they have some concern for current BIGN shareholders when this deal finally closes. They need to keep the Tyche share structure sane. In other words, like no more than 200M shares authorized and after the payouts to BIGN holders and debt holders we have 100M left to dilute. These deals coming up may be great for the share price but they could also be very bad. We shall soon see in 12 days
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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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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I think its great news. It has been the plan from all along to list tyche shares. But they needed more shareholders to get the listing. Thus the Tyche divvy was born. By issuing all the bign shareholders stock they have a isnt shareholder base and thus a listing can be made. Now that being said, that means bign should have enough shareholders to move to the OTC BB also. Double win maybe. But here comes the fun part. Now that tyche appears to be going to the otc and bign owns 35 percent of tyche it stands to reason bign becomes more valuable. Lets say tyche starts with a market cap of 20 million dollars. Bign just went up 7 million in market cap or .02 cents per share. If tyche commands a 50 million market cap then bign value is up 16.5 million and thus .055 cents a share. Now lets say bign announces the loi's are all done. Bign goes crazy. Here's one more thing none of my shares of tyche say restricted. Hmmmmm. It only takes 2 market makers to make a market so we just need 2 of them to start trading. It would be silly for bign to issue shares in tyche then reverse into them but anything is possible. But the 2 seperate are worth more together. Example raising capital or buyouts makes since to have more companies to do this with. Also check out GHSF what happen to them. They own vrdm and insq. Also it would be cool for BIGN to bring the 3d sysmic company public also. Issue share of it to the bign shareholder and go public. HMMMMMMMMM your never know
-------------------- The difference between genius and stupidity is that genius has its limits Posts: 10204 | From: NYC | Registered: Mar 2006
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posted
Thanks for all these good post. The ride of a life time is one day closer. Lancaster is the man to make it happen. Oil is back. Happy Fathers Day.
Posts: 758 | From: FOREST,MS | Registered: Feb 2005
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posted
In a way the fact that bign hasn't posted any news means they have a sense of timing. Poorly timed good news is a waste (considering the market). Lets hope that any news along with the now tight market gives us a springboard.
Never underestimate my greed!
Posts: 90 | From: NJ | Registered: May 2006
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