FARMINGTON, N.M., Aug. 3, 2005 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) and WW Energy Inc.'s (Pink Sheets:WWNG) subsidiary, WW Oil & Gas Inc., today announced details on the second project on the third recently acquired lease in the oil and gas rich San Juan Basin.
The second exploitation project in the San Juan Basin in Northwest New Mexico will test the following zones: the Menefee Member of the Mesaverde, the Gallup Sandstone, the fractured Mancos Shale, the Dakota Sandstone and the Entrada Sandstone at 6000 feet. In the late 70's, a well was drilled in the area of this project which encountered oil in the Entrada Sandstone, as well as oil in the Menefee Member of the Mesaverde, the Gallup Sandstone, the Mancos Shale, and the Dakota Sandstone. In the early 80's, nine years later another well was drilled nearby that encountered fractures in the Gallup and was tested at a flow rate of 320 barrels of oil an hour.
Nearby Entrada fields have each produced over a million barrels of oil. Testing in those Entrada fields indicate the capacity to produce as much as 20,000 BPD. In the San Juan Basin, over 90% of the Cretaceous development wells are successful.
Currently, WW Energy, Inc.'s, trucking division, WW Trucking has a total of 17 trucks operating 24 hours/7 days a week and is working to expand operations to meet the increasing demand that the oil and gas industry is currently experiencing. The Company also continues to pursue additional opportunities for acquisition in the operation and exploration of significant oil and gas assets. Until the Company has identified the best resources and raised the requisite capital for these acquisitions, it will continue to expand its current business model.
WW Oil & Gas Inc., a wholly owned subsidiary, is in the business of acquiring leases and oil and gas related assets. Such acquisitions are for the purpose of development, exploration, and exploitation. Currently, there are 3 leases under agreement for exploitation. Comprehensive drill programs are being developed for full exploitation of these properties.
About WW Energy, Inc.
WW Energy Inc. is a holding company that was created to acquire oil and gas related companies and services. WW Energy Inc.'s wholly owned subsidiary, WW Trucking Inc., dba Liquid Transport, a New Mexico corporation, is a leading transport company for the oil field services industry. Their existing business operations are in transporting fresh production water for oil drilling/exploration and waste water for disposal. They also provide services for heavy hauling of drilling and well equipment needed in the oil and gas production and exploration industry.
A number of statements contained in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties, including timely development, and market acceptance of products and technologies, competitive market conditions, successful integration of acquisitions and the ability to secure additional sources of financing. The actual results of WW Energy Inc. may achieve could differ materially from any forward- looking statements due to such risks and uncertainties, including but not limited to, the fact that no assurance can be given that any proposed acquisitions will be consummated at all.