Biogenerics' Partner Tyche Energy Completes Geochemical Surveys On Two Core Projects; Company Expects Completion of Program of #1 Mosa Well Within Two Weeks.TORONTO -- Biogenerics Limited (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). :BIGN) today announced that its joint venture partner, Tyche Energy Inc. has advised that the geochemical surveys have been completed on two core project areas that will definitely provide data key to commencement of drilling programs. E[acute accent acute accent n. A mark (´) indicating: a. that a vowel is close or tense, as é in French été. b. that a vowel or syllable has a high or rising pitch, as in Chinese or Ancient Greek. c. ]The geochemical survey within Mosa Township is expected to assist in delineating an area containing an oil-bearing reservoir within the Dundee Formation and the geochemical survey within Dunwich Township is expected to provide critical information concerning a gas-bearing reservoir within the Grimsby Formation. A comprehensive interpretation of the two surveys is expected to be completed by June 17, 2005. E[acute accent]The completion of the program for Tyche et al #1 Mosa 6-13-III within the Dovonian age Dundee Formation is expected to occur by the end of June. The well is currently plugged back to allow for completion of two zones. The first interval lies within the Columbus sandstone sandstone, sedimentary rock formed by the cementing together of grains of sand. The usual cementing material in sandstone is calcium carbonate, iron oxides, or silica, and the hardness of sandstone varies according to the character of the cementing material; quartz member of the Dundee and the second zone within the Dundee Formation, this will allow production testing of the indicated oil zones. Tyche will utilize Hydroslotter's proprietary technology to maximize results and potential production. E[acute accent]"The joint venture with Tyche Energy is proving its worth to the Company and its shareholders with increasing activity in the vital domestic energy sector. Additionally, Hydroslotter's technology affords Biogenerics the unique opportunity to fully maximize well potential which can lead to increased flow and profitability," stated Gary Kelley, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . E[acute accent]-Looking Forward Statements: E[acute accent]This press release contains "forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. " within the meaning of the US Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995. Forward-looking statements are based on current expectations, estimates and projections that involve a number of risks and uncertainties, which could cause actual results to differ materially from those reflected in the statements. Information on the factors which could affect the Company's operations or financial results are included in the Company's reports on file with Canadian securities regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities and the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Securities and Exchange Commission. Forward-looking statements are based on the estimates and opinions of the Company's management at the time the statements are made. The Company assumes no obligation to update forward-looking statements should circumstances or management's estimates or opinions change. |
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