TORONTO, Oct. 18, 2005 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN): The company is pleased to announce that it has secured an agreement with an institutional investor Royal Petroleum. Royal Petroleum purchases and finances producing oil and gas wells. Biogenerics has financing in place for hydroslotting at 8.5% interest as needed and secured by our current production.
Biogenerics plans to primarily fund the hydroslotting expansion with its current cashflow. This is possible since the costs for slotting are returned in an average of 45 days from production. Having Royal Petroleum behind us eliminates the need for any financings which may cause dilution of equity.
Biogenerics' Paul Smith states that, "This hydroslotter joint venture is offering perhaps the most capital efficient way to create aggressive economic returns without exploration risk. Now that we have the ability to draw down the capital required we can aggressively move forward."
Website: http://www.bignltd.com
Forward Looking Statements:
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.