TORONTO, Dec. 7, 2005 (PRIMEZONE) -- Biogenerics Limited (Pink Sheets:BIGN) today announced plans for the development of a new Client Management division to coordinate and manage joint venture oil and gas opportunities for both non-affiliated energy companies and third party land owners.
Recent success and news regarding the Company's highly effective Hydroslotter recovery enhancement technology, which can improve production rates from 300% to 600%, has prompted a high level of interest from numerous third party oil and gas asset holders interested in teaming up with Biogenerics Limited to launch new petroleum exploitation projects.
Biogenerics Executive VP, Paul Smith, stated, "We have literally been inundated with requests for information from parties in control of oil and gas properties having either capped, abandoned or shut in wells that could be brought back online to commercial production with our Hydroslotter enhancement technology. With so many new opportunities to review, the establishment of a Client Management division is now a must to properly evaluate and determine which projects we will be moving forward with, and most importantly, which can add the most value to Biogenerics. We look forward to reporting on a number of new joint venture projects in the near future as that news becomes available to release."
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.
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%.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act 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 and the United States 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.