posted
Just a couple of posts before I leave you folks with this,
The first well tested over 1000 mcfd but only produced 468? avg in sept.
This can be accounted for because there are peak hours where the companies just may not take as much or may take more. They could also shut it down periodically to adjust it. Lower averages would not degrade the well, it could be cut in half but produce twice as long. Saving production for higher gas prices.
Also the wells have been known to produce from 4 layers, I believe all they are getting is from the first.
The original wells only produced 350 or so, this proves the technology does allow more gas flow. Thus very successful.
There was a rumor one well only had 50 mcfd. That is the California minimum so it would be shut down if true.
Lower numbers are still economically viable, 500 mcfd is still over 3000 per day and pays for the well in 65 days. Therefore it is a valid revenue producer. Even at 100-200 mcfd it is viable, it just takes longer.
Don't forget one well also gave 15 bbl of oil day during drilling, so that can be added to the total by raising over 300k per year. The oil basically pays for the well.
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posted
What might happen this week. There is a lot of news to look forward to.
What if the company set it up so divvy week would be news week, trying to maximize pps in a way it breaks out. This may or may not happen but it could.
1. The divvy could raise buying pressure to some degree. Even though divvys can cause pps to fall because the company has to buy the shares they give away. It can be offset with buying pressure.
2. We could get news on two new wells coming online. One or two wells with good flow would open some eyes.
3. WWNG could release positive results from their well in New Mexico, of which we may own half. It could be big news.
4. Tyche has been doing work in Canada and a successful well there could be coming.
5. News of other projects could be announced setting the stage for more expectations.
If they chose for it to run divvy week they have the news to set it off if ready.
With the cash available mergers, acquisitions, lease news etc are very possible.
Not to mention a new company with an exciting technology makes a great buyout candidate.
posted
I will begin accumulating after the divy date. Many are in this waitin for the divy and will sell after the 19. Not realizing the potential of this jewel. I will not buy in before the divy because Scottrade always delivers my shares late while I sit and watch everybody else sell.
1. I think credibility especially with a pinky is hard to come by. It now seems the company has been 100% honest with us. The numbers they have posted have been verified.
14,500 mcf for sept on their first well was right on.
posted
NEWS,Biogenerics` Head Office Now Fully Operational
May 17, 2006 11:00:27 (ET)
TYLER, Texas, May 17, 2006 (PRIMEZONE via COMTEX) -- Biogenerics Limited (Pink Sheets:BIGN) announced today that its head office in Tyler, Texas is up and running and now fully operational. The company also stated that newly appointed Director Mr. James Lancaster is currently, with due diligence, evaluating several projects in the oil and gas sector. Pertinent information regarding these projects will be passed on as soon as it is made available.
Biogenerics Limited, because of previous delays, also confirms that the record date of May 19, 2006 for the Tyche Special Dividend is on schedule and will follow with the payment date of June 2, 2006 as mentioned in the May 3, 2006 press release.
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.
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.
posted
should be a good day tomorrow and friday for the divvy. Not any sellers and lots of buys.
I thought the press release was encouraging.
Rumors have been flying about a big deal in Texas. Hope it is a big deal.
I think the company has enough on the plate already to make it go up, but a ten billion dollar deal would be welcomed. I would take ten million in profit right now.
posted
BIGN is a big deal. Rumor or fact .40-.50 min. See last yr slow steady climb to 1.05. Looks like HX may just repeat it's self. GLTA
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posted
Biogenerics New CEO Updates on Grimes Project and Future Plans via COMTEX
May 18, 2006
TYLER, Texas, May 18, 2006 (PRIMEZONE via COMTEX News Network) --
Biogenerics Limited (Pink Sheets:BIGN) 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.
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.
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.
posted
Good volume excellent PR saying 2 wells similar to the 1st
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.
== $$$$$$$$$$$
-------------------- The difference between genius and stupidity is that genius has its limits
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I grew up in Texas and my Dad owned a pipelining company before the oil glut. He still pipelines after I guess almost 40 years. I talked to him about this and he was skeptical because he hadn't heard of hydroslotting, after I explained it he was receptive and said it was similar to some other techniques of injecting co2 or other chemicals. Maybe a different engineering approach.
What he said about refurbished wells really hit home.
quote: Anytime you buy a lease you also acquire the liability.
That is why many shy away from older wells, they have old casing etc that can be a big liability.
I explained that I thought they drilled a bigger hole and probably used new casing and fittings etc he said that would make refurbishing a lot less risky.
So,
1. Improved production. 2. Lower cost. 3. Less liability risks.
I like the fact that we are building slowly, establishing steady revenue, because it gives us the means to buy undervalued companies that just need a little capital to become successful. Maybe buy companies with mineral rights but not much to drill with.
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