posted
Yea i'm thinking most will cash out before the news even hits if this runs.
True die hard longs may hang on.
If the deal isn't that great you made your money, if better than expected can jump back in.
If the deal falls thru some bagholders at the top will be pissed.
I honestly don't know what to expect.Cost of extracting and shipping american oil runs like 10-15 per barrel. If they pay 40$ a barrell for the reserves the company will only make 15-35 per barrell.
275 x 15 x 365 = 1.5 million per year.
If they increased OS by 25% to get 1.5 million profit it wouldn't be a good deal except for the short term traders. PPS could actually fall.
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posted
Biogenerics Ltd. Negotiating to Purchase Existing Oil Lease Near Quitman, Texas
May 24, 2006 09:03:02 (ET)
TYLER, Texas, May 24, 2006 (PRIMEZONE via COMTEX) -- Due to the positive reception of yesterday's announcement by Biogenerics Ltd. (Pink Sheets:BIGN), James Lancaster, CEO, commented, "It appears the market has recognized the potential this company and its positioning in the oil industry. Other opportunities are being presented to management, which are being evaluated for consideration and management is actively negotiating with possible lender/investor groups to provide Biogenerics with sufficient capital to take advantage of the selected opportunities that may arise."
He further added, "The Company is issuing an LOI for the purchase of an existing oil lease near Quitman, Texas. The field and opportunity was presented to the company by the geophysical engineering firm that is being retained to do the due diligence on the acquisition that was the subject of the company's press release yesterday."
Lancaster further noted, "This opportunity requires an investment by the company of approximately $1.5 million for purchase of the lease, improvements to the lease, reworking existing wells, drilling of injection wells and drilling of new wells to remove the reserves estimated, and is projected by the engineering firm to be an opportunity to return 634,800 recoverable barrels of oil over the life of the lease. Based on engineering projections, the potential internal rate of return to the company's investment discounted to present value at 10% of 47.21% with a payout of 3.04 years. The life of the lease is estimated at 19.25 years."
Lancaster concluded by stating, "These are the kinds of business opportunities that will become available to Biogenerics on conclusion of the purchase of the drilling and operating company announced earlier yesterday. Details will be released as they become available." For further information: 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, Hydroslotter Corporation and WW Energy Inc.
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.
posted
Well, I think this will run more, but it has hit my exit point. Good luck everyone!
-------------------- 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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imakmony2005
unregistered
posted
byb byb, i want just a bit more.
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Still waiting on conditions of first deal to celebrate.
The second deal looks very nice. 45 mil in retail oil for 1.5 million price. Looks like a good deal, it will just take a little while to get revenues coming.
If valuation was based solely on in the ground oil this would be very nice. This will factor in some but profit is the big mover.
I think we will have to do some work, maybe six months out to start having the revenue and profit. 19 year estimate for 634K barrels so avg 33K per year X 72 = 2.4 mill per year.
I think we will move up on the news but will move up more when bigger revenues are actually realized.
I think this is a great buy and hold stock.
Revenues coming
Grimes 3-5 mil per year Wells in Canada Maybe NM 7 mil on first texas deal 2.4 mil on second Texas deal
We could have 15 million in revenue within 6 months.
If half is profit then
7mil/303mil OS = .023 X 20 pe = .46 cents/sh.
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Articles amended June 17 2004 to increase authorized capital from 50,000 to 50,000,000 as well as affecting name change and new management. Articles amended on April 5 2005 to increase authorized capital to 400,000,000 in anticipation of forward split of stock. Stock was split forward 10 for 1 on May 12 2005 giving each shareholder of record as of May 6 2005 9 additional shares for each one owned. Authorized: 400,000,000 common shares with a par value of $0.001 Issued and fully paid: 280,909,015 common shares
-------------------- Where is my money?
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posted
Biogenerics Limited Completes Letter of Intent With Texas Oil Company and Expands Assets Within the L.O.I.
PrimeZone via COMTEX
May 25, 2006 3:33:04 PM
TYLER, Texas, May 25, 2006 (PRIMEZONE via COMTEX News Network) --
Biogenerics Limited (Pink Sheets:BIGN) announces that James Lancaster, CEO, has confirmed the execution of the Letter of Intent by all parties, that pertains to the purchase of assets, leases, contracts, agreements and oil reserves, of the East Texas operator.
Lancaster stated, "This transaction will bring to the company a presence in the oil industry that is highly respected -- an operation with a substantial positive cash flow, ownership in over 200 currently producing wells generating over 7,300 bbls/month of crude oil, leases with an estimated 21.84 million bbls/oil in proven reserves, drilling sites for 12 new wells, with a potential for a substantial reserve position in oil and gas. Further, 125 well sites to rework and capitalize the oil production from in the existing field, and equally important, a fully operating exploration/drilling company with a highly regarded reputation in the industry in Texas which will allow the company to do its own drilling, rework and management of wells."
Lancaster continued, "This is the foundation stone being laid for the Company to gather and amass substantial holdings in the oil/gas industry. Today, it is difficult to get a drilling company to perform new well services in less than nine months. This acquisition gives our Company the ability to do its own drilling procedures without reliance upon any other party. That is a definite plus in this industry today."
The Letter of Intent requires the Company to clear its due diligence on the purchase within 30 days from the above date, enter into final agreements and close the transaction within 60 days of today's date. The Company has already held meetings with its lenders and investment firms and expects it will complete the financing of this acquisition within the time frame of the Letter of Intent. Lancaster concluded by saying, "Even though my 30 years of business experience was not totally in the oil industry, the contacts I have made in the East Texas oil industry have made this opportunity available to the Company. Hopefully, we will see this transaction come to fruition and the results of the positive cash flow from this operation will impact the Company's financial reporting by the last quarter of this calendar year."
Website: http:/www.bignltd.com
-------------------- The difference between genius and stupidity is that genius has its limits
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posted
Well the pr didn't tell financing methods but the rest of the pr was totally awesome.
Can you say 2.00 stock real soon.
If everyone picked out the best part in the pr we might all have differences, but the best parts here are.
Large positive cash flow.
Over 1.5 billion in proven reserves.
quote: Proved reserves of natural gas are estimated quantities that analyses of geological and engineering data have demonstrated to be economically recoverable in future years from known reservoirs.
posted
BIGN - BIOGENERICS LTD (OTC) Date Open High Low Last Change Volume % Change 05/25/06 0.0520 0.0520 0.0390 0.0500 +0.0011 16216100 +2.25%
Composite Indicator -- Signal -- -- Strength -- -- Direction -- Trend Spotter (TM) Buy Maximum Strengthening
Short Term Indicators 7 Day Average Directional Indicator Buy Weak Weakest 10 - 8 Day Moving Average Hilo Channel Buy Maximum Strengthening 20 Day Moving Average vs Price Buy Maximum Strengthening 20 - 50 Day MACD Oscillator Buy Maximum Strongest 20 Day Bollinger Bands Buy Strong Weakening
Short Term Indicators Average: 100% - Buy
Medium Term Indicators 40 Day Commodity Channel Index Buy Minimum Strengthening 50 Day Moving Average vs Price Buy Maximum Strongest 20 - 100 Day MACD Oscillator Buy Maximum Strongest 50 Day Parabolic Time/Price Sell Minimum Weakest
Medium Term Indicators Average: 50% - Buy
Long Term Indicators 60 Day Commodity Channel Index Buy Weak Strengthening 100 Day Moving Average vs Price Buy Maximum Strongest 50 - 100 Day MACD Oscillator Buy Weak Strongest
Long Term Indicators Average: 100% - Buy
Overall Average: 88% - Buy
-------------------- The difference between genius and stupidity is that genius has its limits
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had to try.
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