posted
TYLER, Texas, Aug 9, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) announced that joint venture partner Hydroslotter Corp. has provided a progress report on the California Grimes wells site. Hydroslotter officials report that the drilling and rigging equipment is currently working on wells No. 3 and No. 4. The Hydroslotting process to complete well No. 3 is in progress. Biogenerics has been informed that the crew will then proceed immediately to well No. 4 and initial results from the wells are expected in approximately 2 weeks.
Hydroslotter Corp. confirms that Ophelia 1 is on stream and problems earlier mentioned have been corrected and they do not expect further delays. The experience gained from Ophelia 1 will serve well to accelerate the time frame in which wells 3 and 4 are completed added a Hydroslotter official. An accurate account of all flow rates will be reported publicly after the wells are allowed a period of time to stabilize.
There is great anticipation building regarding the flow rates of wells 3 and 4 since they mirror the characteristics of Ophelia 1 which had earlier flow rates of 1450 mcfd.
A decision will be made regarding well No. 5 since preliminary evaluation is indicating the well may not be cost effective to proceed with. Biogenerics will evaluate its position to continue on with other wells located nearby that have the potential to be re-worked more efficiently producing more favorable flow rates.
Website: 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.
Forward-Looking Statements
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Here is what Boyd told me. Take this as you wish and do not make any investment decisions based on what I post here. This is the truth, no fabrications here.
1. WW Oil&Gas is STILL a 50% owned subsidairy of BIGN. I even called WW Energy and confirmed that yes, WW Energy's subsidiary WW Oil&Gas is in fact owned by both companies jointly 50-50 Biognerics and WW Energy. That issue is put to rest. So any news out about WW Oil&Gas is 50% ours. Any news out on WW Energy is not ours.
2. Name change and quarterly report is on hold until the one or more of the LOI's close. They need to focus on getting the LOI's done. The frankfurt listing was important to attract new investors thus why they felt they needed that done at a minimum.
3. Some of the wells at Grimes are not workable with Hydroslotter but are workable with N20 thus why they closed that deal. For those who thought is was nothing but fluff it may turn out ti be a good thing.
4. The fifth well at Grimes is not going to be slotted because the siesmic data and tests have revealed it will not be a good producer.
5. Six more wells are being targeted at Grimes in the near future once wells 3-4 are done. These wells will require a pipeline to the meter station. Cost about 20K. All six wells have had seismic tests done already and show the same characteristics as Opheila.
6. Once wells 3-4 are done and are recorded as producers in the 1000mcfd range after "stabalization" we will have the following revenue. This will be disclosed publically as stated in the last press release.
Charring Cross 200mcfd Andreotti 250mcfd Opehila 1000mcfd Well 3 10000mcfd Well 4 1000mcfd
Do the math, considering 25 days of production per month for required maintenance at $7.50 NG prices, I come up with $3.1M in revenues for BIGN (40% allocation after ROI).
7. Financing is secured for the LOI in part by the cash generated from above. Debt based financing is being pursued here. No shares can be issued because the A/S is only 400M and the price is .021 Not much cash can come from shares as I agreed with Dale on this point. It would be silly to dilute at this price and Lancaster is not that stupid.
8. He said the Texas LOI is the big one that everyone as Biogenerics is hoping comes to reality. He said Lancaster feels confident the deal will close by 8/31 or sooner. He mentioned that 1 of the 3 options as outlined in the press release is a done deal. They have a backup plan to satisfy shareholders. The Success Oil Company LOI mentioned by WW Oil&Gas will offset any revenues not obtained from the Texas LOI deal option #1 falling through. In other words, if they do not go ahead with the best option, which was option #1 for the East Texas LOI and settle for one of the smaller options, option 2 and option 3, the WW Oil&Gas LOI i.e. Success Oil will offset any revenue lost from this deal falling through. Success Oil and a turnkey drilling operator but they must lease equipment and have rigs available to them on a more frequent basis then BIGN leasing rigs from Schlumberger. It seems that Lancaster has things covered here. Dale also said that option #1 is not ruled out and Lancaster feels confident it will happen and he said if option #1 closes BIGN will have rigs available to them on an immediate basis. He said this will be huge for the company. He said most companies must wait in upwards of six months now to obtain a workover rig due to the price of Oil.
9. He also said that Lancaster wanted to wait on wells 3-4 until after the LOI closes because the rig cost would not be incurred 60 day delay verse cost of lease...makes sense. However the financing required them to obtain this revenue as collateral so they went ahead and started slotting. This explains the delay from May until now. I agreed with him here but still balked on why nothing was done from January to May and basically was told Grimes has weather issues and it was difficult to get a rig to the site due to demand for rigs being high.
Overall it was a very positive conversation and I feel much better now about Lancaster and what he is doing here. The delays are explained in a stratgeic point of view and I understand now. Like everyone says a company cannot be built over night and after wells 3-4 are slotted this .02 cent stock will have over 3M in revenues. When the other six wells at Grimes are completed (probably within 6 months), BIGN will have another 5.4Min revenues to add to the 3M if they produce at 1000mcfd. 8.4M in revenues and we sit at .02 cents ?? Ridiculous consideration the market has given this little stock.
also one more point. reading my last comment and I did a comparison.
"Overall it was a very positive conversation and I feel much better now about Lancaster and what he is doing here. The delays are explained in a stratgeic point of view and I understand now. Like everyone says a company cannot be built over night and after wells 3-4 are slotted this .02 cent stock will have over 3M in revenues. When the other six wells at Grimes are completed (probably within 6 months), BIGN will have another 5.4Min revenues to add to the 3M if they produce at 1000mcfd. 8.4M in revenues and we sit at .02 cents ?? Ridiculous consideration the market has given this little stock."
TGC an AMEX listed security has 7M in revenues and commands a 70M market cap. http://finance.yahoo.com/q/ks?s=TGC It just goes to show you how UNDERVALUED we are right now. With 3M in revenues after wells 3-4 are done we should command minimum 30M market cap. That's .10 cents per share.
-------------------- The difference between genius and stupidity is that genius has its limits
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Our system posted a BUY CONFIRMED today. The previous SELL recommendation was issued on 06.27.2006 (45) days ago, when the stock price was 0.0430. Since then BIGN has fallen -48.84% .
BUY-IF is confirmed by a white candlestick which has an open equal to the previous close but closing higher. The buying price is the previous close ( 0.0215 ) according to the Rules of Confirmation.
Patience pays off. The market wavered a bit but finally confirmed the recent bullish formation. The dose of the previous day was not enough for a BUY-IF confirmation but today it is. Though the market opened lower today, the day’s activity created a white candlestick that closed above the previous close. This is a valid confirmation criterion. The market is now ready for a bullish move.
We hope that you acted quickly and already bought this stock . Your important benchmark was the previous close. You were supposed to watch the session carefully, feel its bullish tendency despite the lower opening, and go long after making sure that the prices stay over the previous close.
If you bought, continue to hold this stock until the confirmation of the next SELL-IF signal. You are on safe grounds as long as the future prices continue to trade above the benchmark price. What to do if you did not buy? Maybe, you did not have time to follow the session or you simply delegated the delicate job of confirmation to us. Well, it is a bit late, but not too late. You may still find suitable prices for buying in the following sessions.
The market is currently cold for short-sellers. Avoid any short sales and cover the short positions immediately if there are any.
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Posted by: futrcash Date:8/21/2006 7:19:23 PM Post #of 12717
Don't shoot the messenger.....please Just got off work. First let me say I've been advised not to say anything,but... The last thing I'm going to do is jeapordize any pending LOI's if indeed there are any.
Same as as last time,I only encountered Hydroslotter personell,and rig hands. Skip Taylor was very busy but gracious enough to answer my incessant questions and even give me an hours worth of his time Sunday morning explaining the specifics of his business,but that's between him and me. I still think Hydroslotter is a class organization with world class geo-scientists on board.I'm convinced more than ever they will do well,and have a bright future. On the other hand,I still have no educated opinion concerning BIGN,s management as they do not participate at the field level so I'm yet to meet anyone from BIGN.
For those who asked as to the productive status of Andreotti#1 it is very active and continues to produce,round the clock 7 days a week!It's currently producing right * 200,000/cu/ft./day. Ophelia does have a permanent tie-in to the gathering system.Can't tell you what the current production is. There's no doubt,in my mind that Hydroslotter will rework hundreds of wells in the Sacramento Basin,how many BIGN participates in is up to the company to tell us.I have no idea. Hoping for the best and a company that otperforms the guidance of their press releases.
futrcash
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Posted by: miner49r Date:8/22/2006 4:59:01 PM Post #of 12880
Amazing still, BIGN is a profitable company
with great prospects, and is on the brink of major good news.
$2 million so far (NOT including Grimes 3 & 4) gives BIGN a P/E of 3 right now! A profitable pinkie with a P/E of 3...and people are bashing the company.
With Grimes 3 & 4 online, BIGN could actually lower its P/E to 1 or 2...and people are bashing the company. Give me a break.
The stock price can obviously go anywhere...but fair value right now is about $.10...and stocks eventually find their fair value.
-------------------- The difference between genius and stupidity is that genius has its limits
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TYLER, Texas, Aug 23, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) announced that WW Oil & Gas Inc. has signed a letter of intent and forwarded a initial deposit to acquire the oil and gas lease rights to properties located in East Texas. Biogenerics Limited shares a 50% interest with WW Oil & Gas Inc.
The LOI, which was initiated in early August 2006, calls for the acquisition of the Tubb Lease Oil and Gas Project, located in the Crawar Field in Ward County, Texas. WW Oil & Gas has since added two additional oil production properties to be included in the LOI agreement. The properties are located in the Gray Gulch field in Borden County, Texas.
The Crawar Field has historically been a prolific producer of oil and gas. Nearby leases are owned by Chevron and Amoco among others. In particular, in October of 2000 Chevron re-completed a well 1,200 feet from the location of the first planned re-completion well. The Chevron re-completion well is still currently producing at approximately 28,000 mcfd of gas per month. The same geological structure and pay zones as found in the Chevron re-completion well exist in several areas of the Tubb lease, including multiple wells for re-completion and grass-roots wells. At $70 per barrel of oil and $7 per mcfd of natural gas, estimated reserves of the Tubb Lease Oil and Gas Project exceed $60 million on a total mineral reserves cash basis.
The first recently included property, "Kloh #9," produced 312.6 BBLS of oil per day with 261 mcf natural gas per day in past production testing. The second property, the "Gray" has previous production tests showing 220 bbls of oil per day with 57.7 mcf natural gas per day. With 240 acres and multiple pay zones, WW Oil & Gas is planning to maximize these properties to their full potential.
Biogenerics partner WW Oil & Gas Inc. has committed to commence work on a first well for re-completion in early September. It is likely that the initial work over of the well will produce up to 1400-1600 bbls of oil per month
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Posted by: arch_oil Date:8/24/2006 3:58:47 PM Post #of 13077
Just spoke to Boyd. News will come next week in the East Texas LOI. Most likely before Thursday. I got a feeling one of the three options at least is a go. We are all hoping for the complete package here so we have access to rigs, equipment, and personel. I have the feeling we are not going to get this but at a minimum we will have shared interest in some of the wells being worked over and they have the rigs to do so. N2O and Hydrolostting will be used on these wells. Once the program gets started 2 wells per month can be completed. So bottom line if we have this plus Tubbs plus Grimes, we'll be looking at bringing 4 wells per month live.
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Posted by: arch_oil Date:8/24/2006 9:04:48 PM Post #of 13113
my predictions....
1) Friday we close green again. How much depends on volume.
2) Monday or Tuesday we get preliminary flow rates from Grimes #3, it's a prolific producer at 2000mcfd. BIGN closes greeen again.
3) Wednesday, we get news about the East Texas LOI. If it's the complete package we have a 150% up day. If the news is focused on one of the lesser options we still close green. I'm not going to predict this LOI as being abandoned for if it was we should have heard about this long ago. Waiting until the last minute for this kind of news to hit the wire would be a real ****ty thing to do to shareholders. After all this time, one must assume the deal is green but to what extent. Either way it goes it's a good deal because the company we are working with has it's own equipment and the projects spelled out in the LOI are not small. The full package gives us the equipment to move over to Grimes or Tubbs and 7M in cash flow from exisiting production.
4) The following week we hear about Grimes #4. Another good producer, we consolidate for a few days. New follows saying flow rates for ALL wells will be released in three weeks. This includes Charring Cross, Grimes 1,2,3,4. Flow rates should calculate down time for water build up maintenance but are as follows: 3.6M in revenues based on 25 days up time at $7NG. All I can say here is with 3.6M in revenues this stock should command a 30M market cap right here. That's .08 - .10 cents. It's ridiculous that we are here at .021 RIDICULOUS CONSIDERATION.
5) We receive 2006 revenue projections from these wells and the late 10Q's are filed.
6) We get updates on Grimes next well basket. 8 wells. Seismic analysis underway, planned completion November 2006. All 8 wells.
7) We get updates on Tubbs mid September, first well, status and expected results in $$ Lancaster said 270K per well per month.
8) We get updates on East Texas projects late September, first well and expected results in $$ I know we have 12 wells to rework in West Texas plus the 150 wells to rework in East Texas.
9) We hear news about the LOI #2 and LOI #3 late September and how projects will progress with those wells and when they are planned to start.
10) Early October, once Tubbs, East Texas and Grimes are cooking along we get realistic 2007 guidance for existing wells and new projects underway.
11) We get our name change and update about becoming fully reporting and moving to the OTCBB in mid 2007.
12) We get an update on Tyche activities and updates on the share dividend, details about restriction and when stock will begin trading.
So as you can see we have a busy 2 months ahead. If the full package is obtained at East Texas we have 11M in revenues. Then we build on this number going forward with Grimes, Tubbs, West Texas and East Texas. I figure conservatively 1M per month from all three projects going on simultanesouly. This time next year we should have 25M in revenues and should be profitable and have more projects going on in addition to the three outlined above. Then we have Tyche, Hydroslotter, and WW Oil and Gas to add to out bottom line. Are we still going to be trading at .025 then. If we are then something is really wrong. My guess puts the market cap around $125 million or roughly .40 cents per share. Conservative.
-------------------- The difference between genius and stupidity is that genius has its limits
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quote:Originally posted by J_U_ICE: Posted by: arch_oil Date:8/24/2006 3:58:47 PM Post #of 13077
Just spoke to Boyd. News will come next week in the East Texas LOI. Most likely before Thursday. I got a feeling one of the three options at least is a go. We are all hoping for the complete package here so we have access to rigs, equipment, and personel. I have the feeling we are not going to get this but at a minimum we will have shared interest in some of the wells being worked over and they have the rigs to do so. N2O and Hydrolostting will be used on these wells. Once the program gets started 2 wells per month can be completed. So bottom line if we have this plus Tubbs plus Grimes, we'll be looking at bringing 4 wells per month live.
Keep an eye on this news expected next week. It's very cheap IMO. Last big news it ran from .026 to .07
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Should be a big week here finally! News on the LOI is gonna be out by the 31st, so should be anyday now. Hoping for a nice GREEN week here!
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posted
Posted by: flybridge Date:8/28/2006 12:18:57 PM Post #of 13331
Just Spoke With The Co. For 15 Minutes( Contact # On Web Site) I Think He Said His Name Was Mr. Emerman. Anyway, While He Could Not Come Right Out With It, It Seems We Are Going To Get The News Everyone One Is Expecting: Wells 3 And 4 Producing At Grimes And Most If Not All The Items In The LOI For East Texas. He Seemed Very Confident And Thought The News Will Come Between Now And Next Week Sometime. This Looks Very Good.
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Posted by: arch_oil Date:8/28/2006 12:42:59 PM Post #of 13336
Just talked to Boyd. GOOOOOD NEEEWWSSSSS. He said the deal is taking the most complex route, this could only mean one thing, we are going to be a Oil rigging / operator very soon. It sounded to me like it's green light for the entire operation. He said the news will be out shortly. This is great news to me.
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Geez...what's it take for this baby to get some attention, lol. Not a single post all day and we're up 36% on what should be a HUGE week! Wake up people!
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